2023 Mortgage-Free Wannabes

julicorn

JohnTheSkier said:

Hello, new to this as only just got a mortgage. Could I please join with a target of £2400 for 2023?

A familiar face from the 'waiting to exchange' thread - welcome on board You've got #61.

Singlespeeder

julicorn said:

Singlespeeder said:

Can I join please? New to this.
£130k mortgage started out in March 2021 ... currently around £95k with hopes of being MF in 3.5 years. Ambitious. But we're on track.
I'm not really sure how this works, I'd hoped it was a sort of 'league' with the folks with the least to pay being at the top, biggest outstanding debt at the bottom, then when you make a payment you change your balance to see if you've 'moved up'.
That'd be ace but I guess difficult to administer. When I saw a MFW # I thought that's what it was. Would be pretty motivational.

I'll see how this works

Hi Singlespeeder, thanks for wanting to join - just give me your target for 2023 and I'll allocate you a number. 

What you're describing is very possible to set up and even to automate to some extent, so I'm not concerned about the additional admin work required. It does however go against the spirit of this challenge somewhat, where any amount overpaid and any target (big or small) counts, people hold themselves accountable to their own goals and we all work together to overpay as much as we collectively can over the year. I've personally been in the fortunate position to pay off a lot over the last few years, but that doesn't mean what I've done is any more impressive than someone who's unable to pay as much or even has different priorities, but still pays what they can / as much as aligns with their personal goals. 

TL/DR: We all work together for this challenge, not against one another

Thank you, like I said I don’t see it as competitive or Willy waving… everyone has their own goals. Was just a suggestion. 😀
Personally I’m aiming to overpay by £11,000 in 2023 🤞🏻🤞🏻 

julicorn

Singlespeeder said:

julicorn said:

Singlespeeder said:

Can I join please? New to this.
£130k mortgage started out in March 2021 ... currently around £95k with hopes of being MF in 3.5 years. Ambitious. But we're on track.
I'm not really sure how this works, I'd hoped it was a sort of 'league' with the folks with the least to pay being at the top, biggest outstanding debt at the bottom, then when you make a payment you change your balance to see if you've 'moved up'.
That'd be ace but I guess difficult to administer. When I saw a MFW # I thought that's what it was. Would be pretty motivational.

I'll see how this works

Hi Singlespeeder, thanks for wanting to join - just give me your target for 2023 and I'll allocate you a number. 

What you're describing is very possible to set up and even to automate to some extent, so I'm not concerned about the additional admin work required. It does however go against the spirit of this challenge somewhat, where any amount overpaid and any target (big or small) counts, people hold themselves accountable to their own goals and we all work together to overpay as much as we collectively can over the year. I've personally been in the fortunate position to pay off a lot over the last few years, but that doesn't mean what I've done is any more impressive than someone who's unable to pay as much or even has different priorities, but still pays what they can / as much as aligns with their personal goals. 

TL/DR: We all work together for this challenge, not against one another

Thank you, like I said I don’t see it as competitive or Willy waving… everyone has their own goals. Was just a suggestion. 😀
Personally I’m aiming to overpay by £11,000 in 2023 🤞🏻🤞🏻 

'Willy waving' made me laugh out loud genuinely
Welcome on board, I've given you #62.

Gaffs_gaff

Hello Julicorn,

#54 here 👋

I’d like to continue with the challenge, but I will be on zero pay maternity leave for the first 6 months of the year 😬

I’d like to set a low target of £600, just for a little motivation.

Happy to move numbers or stick with #54. If #6 becomes available, I’d love that please 🙏 

Thank you for running the challenge again 😊

_WorldTraveller_

Hello there,

I'd be delighted to take part again and will take any number going.

I'm going to put a stretch target of £15,000 (eek!!!) and have standing order all set up and ready to go.

Good luck everyone in their respective targets.

mark55man

Hi Julicorn, thanks for running the challenge again, please can I join for 2023, and if possible retain my existing number (#57).   Can I put my 2023 target at £10,800 please.  

Last year I saved hard into my pension to create a mortgage neutral pot.   Now that is done and I enjoyed the challenge, but this year I will be saving hard cash into savings accounts as I have a low mortgage APR rate (2.1) that I can easily exceed with regular savings rates for a net interest gain over immediate OP. My target will be to have £18K OP saved by the end of 2024 to use as a final (large) OP  for my final year balance (rate is not fixed so need options).  

Many thanks, and good luck everyone for 2023!

Edited to correct typos

FlacosFloozie

Hi Julicorn,

Thanks for running this again. I'd like to join with a target of £4500 for next year. I was #79 last time but happy to change if its easier.

PiggyBankShaker

#8 here. Please put me down for £10,000. Thanks.

becky170

Hi Julicorn, can I join in this year? I had a break from overpayments this year but we are ready to start again in 2023. Can I have a target of £3600 for 2023? Thanks for running the thread again! Becky

julicorn

Gaffs_gaff said:

Hello Julicorn,

#54 here 👋

I’d like to continue with the challenge, but I will be on zero pay maternity leave for the first 6 months of the year 😬

I’d like to set a low target of £600, just for a little motivation.

Happy to move numbers or stick with #54. If #6 becomes available, I’d love that please 🙏 

Thank you for running the challenge again 😊

Hi there, thank you for joining again! #6 is currently still reserved, but if you post again on the 1st of January then we can see if @twinklie has claimed it in the meantime