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Octobergirl
Posts: 345 Forumite
I've returned to try to buckle down and discipline my spending to get rid of the final £50k owed on the house.
First house was bought 20 years ago. Joined this forum 18 years ago, budgeted, batch cooked, bought at charity shops and generally tried to be frugal. Over-paid the mortgage and paid off in 16 years.
So, whilst very fortunate not to have a mortgage with the bank and having to deal with the rise in interest rates, I do have £50k outstanding which needs paying off in 3.8 years. I'm paying a monthly 'mortgage' amount, but won't meet my target in time.
This diary is for me to try and refocus and get back on track.
First house was bought 20 years ago. Joined this forum 18 years ago, budgeted, batch cooked, bought at charity shops and generally tried to be frugal. Over-paid the mortgage and paid off in 16 years.
So, whilst very fortunate not to have a mortgage with the bank and having to deal with the rise in interest rates, I do have £50k outstanding which needs paying off in 3.8 years. I'm paying a monthly 'mortgage' amount, but won't meet my target in time.
This diary is for me to try and refocus and get back on track.
1
Comments
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I am not sure I am following you correctly.
You don't have a mortgage but still owe 50k.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0
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