Final push .£50,000 in two years .Can i do it ?

try_harder

With only just over three years left to pay off our interest only mortgage we have decided to put everything we have in to paying it off with the intention that if all goes well we can pay it off .We will see how things pan out and if we dont think we are on target we also have the option of downsizing .The main thing is the more we can pay off the better .

So we have taken out some of our emergency savings and paid it off of the mortgage and also used the money from the MC that i was saving and also paid that off the mortgage .We now need to save £500 a week in order to pay most of the mortgage off in two years .We will probably owe five to ten thousand pounds at that point which would be amazing .So here we go .

Tahlullah.H

Good luck!

AgathaSquirrel

🤞 good luck

try_harder

Thank you Tahlullah.H and AgathaSquirrel.

try_harder

Well here we go again ,new week new start .
Week 1 .So far this week i have saved £350 of my £500 target so £150 left to find .
I have also sold quite a lot on Ebax this week due to listing a lot over the weekend as it was 70% off final fees .I shall still be saving this exactly the same as i did before but in a different account  .I will add it all up at the end of the week but so far this week money saving is going really well

try_harder

Week 1 ..After recalculating all the left over money after i transferred money out of both my PBs and ISA i had more money left over than i expected so i have counted that money as week ones £500 .I also sold around £200 on Ebax whilst i was on holiday for two weeks so that is classed as my extra savings .So week 1 was actually the 13th to the 20th ...  

Week 1 
£500 into the mort OPs ..Total £500 .Im putting this in to PBs 
£200 into extra savings ..Total £200..Not sure what to do with this yet....Maybe straight off the mortgage 

try_harder

Week 2 .

This week is almost over and i have put £500 in to PBs .

I have had an absolutely brilliant week on Ebax after listing constantly over last Sun and Mon .It was 70% off final fees and i have sold about £400 in five days .I have bought myself some new clothes so i have to take that off the total but i should have around £300 left ..Final numbers tomorrow

savingholmes

Will continue following. £30k paid off? Sounds amazing.

try_harder

savingholmes ..About £20,000 ..We will still have around £10,000 left after the two years ..We had paid off around 6000 since January then i had the MC money plus we put about £6,000 from our savings to it .So in reality £60,000 left to pay..Thank you

savingholmes

Even at £20K that's phenomenal.

try_harder

Week 2 

A week of amazing sales on Ebax , it really goes to show that sitting down and listing for up to four days really pays off , its a lt of hard work but well worth it ,especially when its 70%off fees ..Over the two weeks i made around £600 but i spent some of it but i bought things off Ebax so all very reasonably priced and i have £321.65 left plus the two hundred from last time .

Week 2 

£500 has gone in to PBs to be used for paying off the mortgage but also i want to keep this money readily available in case we decide to move so that is why i am not paying this directly off the mortgage .Total £1000
£300 of the £321.65 has gone in to another account ..Total £500

What a brilliant couple of weeks .Now on to week 3 .