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Mortgage free by 2025
in Mortgage-free wannabe
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Current goal is December 2024 (DH's 41st birthday will be in January 2025 and mine a couple of months later so I want to try to pay it off while we will still be 40). That means overpayments of £1600 a month That's going to be very hard but "reach for the stars" and all that mantra
Wow, you made another overpayment! Well done! You're already motivating me to try and do something too! Our mortgage is at the minute at £67800, so should I pay 801 to go into 66k?
I need to make overpayments of approx. £850 a month until June 2025 (when dh turns 60 and I will be 50). It's not very realistic but I will give it a go - I promised dh when he turns 60 the mortgage will be paid off. We have a btl property with approx. £45-50k sitting in it so the option is there to sell that house and release the funds but I have a lovely tennant and do not want to ask him to leave just so I can sell.
Love it when the mortgage falls into the lower price bracket!! 😂
It's really stupid but paying extra £1 off and getting into a lower k really motivates me to make another overpayment soon.
I was recently talking to my brother in law, he is also overpaying his mortgage and hopes to be mortgage free by 50 just like you. I think it will be an amazing achievement and not something that everyone would sacrifice their money to do. Most of people I know is just waiting for the mortgage term to finish.
No plans for this weekend so doing my best not to spend any money. I did go into the garden for a tidy and will continue tomorrow.
I have sorted a huge pile of paperwork into the filing cabinet and a large pile to go into the burner and for the first time this year, I have washing drying on the line saving money by not using the tumble dryer.
Getting slightly warmer here in Cambs which is good as I plan on turning the heating off at the end of March before the increase on the 1st April. We have a log burner we can use but not much wood left so when it's gone, it's gone!
Enjoy the weekend!
Having a no spend week except for food and fuel and so far it's going well.
Been doing a little more decluttering and sorting/tidying whilst dh has been busy in the garden.
Out for lunch Friday, which i'm really looking forward to with my work friend. We take it in turns to pay and it's her turn this time so even better! Also, out for dinner with my cousin and his wife Friday. They have lots of vouchers to use up so hopefully a cheap evening.
Thinking about turning the heating off in the evenings only. The thermostat is set to 19 degrees and the heating comes on, then gets to temp within 30-45 mins, then clicks off. Will switch it off and see if dh notices!