The Mortgage Free in Three - Take 7 challenge (MFiT-T7)

powerspowers

Form submitted ✅ 
it doesn’t seem to have shifted much yet, had to remind myself there are 33 months to go so don’t be agitated. My OPs are sat in a savings account so don’t get taken into account just yet. The OP limit resets this month so might celebrate with an OP, depending how Eastre holiday spending goes!
good luck challengers xx

julicorn

twinklie said:

Sorry am I being daft? I'm in peri so very possible....I can't see what my challenge number is and it's really thrown me. I don't know if it's the same for the new challenge - I can't remember. 

Hi twinklie, I just had another look and I haven't received a registration form from you for this challenge (the T7 version). It's not too late though, just use this link here (also linked in the first post)  

CrazyBee787

Hi @julicorn I am not going to update the balance as there is nothing to report for April as I am out of work, however I have two job interviews next week...so fingers crossed I get something and soon, so I can turn it around. Thank you XX

twinklie

julicorn said:

twinklie said:

Sorry am I being daft? I'm in peri so very possible....I can't see what my challenge number is and it's really thrown me. I don't know if it's the same for the new challenge - I can't remember. 

Hi twinklie, I just had another look and I haven't received a registration form from you for this challenge (the T7 version). It's not too late though, just use this link here (also linked in the first post)  

Like I said - perimenopausal! It’s like baby brain but worse! I’ll sort it now. 

@julicorn, you’re a legend.  

twinklie

I’ve registered with my information from Jan. When I’ve got a number I’ll send my update. 😁 Assuming I remember…🤣

Bella_Budget

Hi @julicorn
Updated today as not going to get any better this month! New total £22274
Thanks

carboot_karaoke

Morning All,

The first quarter has flown by!!

#19 Update submitted @julicorn

Thank you 

RedLipstick

I have submitted my update too for #5. Thank you!

Definitely not where I'd like to be right now but planned out everything for the next few years after reading the Total Money Makeover book last weekend. It seems I'll be where I want to be in three years so that's the most important. Can't stop thinking about the concept of "diluting" my efforts and hardly seeing any progress, when I'm trying to do it all at the same time, save the emergency fund, mortgage OPs, CC, ISA, pension, student loan, other short/long term saving goals etc so I've decided to declutter my ynab and go step by step. It hit me when I've read that if you're doing it alone, job loss is a 100% cut in household income. I know, but I guess reading it reminded me what happened when I've lost my job at the beginning of pandemic and it took few months to find another one. Vey lucky I didn't end up in debt but had like £50 on the day I was starting a new job which had to last for few more weeks, rest of the money went for rent and bills. I had some money in LISA back then and Gov allowed to take the money out without a fine but I've had big dreams of owning my own place so did't want to touch it. Very lucky! 

So focus now is 100% on rebuilding EF 6M -> pay off CC -> build EF 1Y -> then the rest, again step by step. Everything planned out in excel ready to tackle. I know my weak spots (the worse one being that I want to renovate my place like NOW) so just have to stay focused. I'm also doing a 2 year MSc and have two more semesters to pay for (saved up for one of these already). I have a decent salary so should get back on track relatively quickly. Maybe I need my own diary too!

CrazyBee787

RedLipstick said:

I have submitted my update too for #5. Thank you!

Definitely not where I'd like to be right now but planned out everything for the next few years after reading the Total Money Makeover book last weekend. It seems I'll be where I want to be in three years so that's the most important. Can't stop thinking about the concept of "diluting" my efforts and hardly seeing any progress, when I'm trying to do it all at the same time, save the emergency fund, mortgage OPs, CC, ISA, pension, student loan, other short/long term saving goals etc so I've decided to declutter my ynab and go step by step. It hit me when I've read that if you're doing it alone, job loss is a 100% cut in household income. I know, but I guess reading it reminded me what happened when I've lost my job at the beginning of pandemic and it took few months to find another one. Vey lucky I didn't end up in debt but had like £50 on the day I was starting a new job which had to last for few more weeks, rest of the money went for rent and bills. I had some money in LISA back then and Gov allowed to take the money out without a fine but I've had big dreams of owning my own place so did't want to touch it. Very lucky! 

So focus now is 100% on rebuilding EF 6M -> pay off CC -> build EF 1Y -> then the rest, again step by step. Everything planned out in excel ready to tackle. I know my weak spots (the worse one being that I want to renovate my place like NOW) so just have to stay focused. I'm also doing a 2 year MSc and have two more semesters to pay for (saved up for one of these already). I have a decent salary so should get back on track relatively quickly. Maybe I need my own diary too!

If you were to have a diary I would want to follow itXX

drspouse

I have just joined, we have an interest only mortgage with 3 years left to run but we are older and don't want to remortgage. Because it's on a fairly low rate it is better for us at the moment to save in ISAs and then pay off at the end (unless something changes with the interest rates).

I have £3000 in an old ISA and have just put £2000 in a new one. I also have £10000 in a Plum ISA but I think I need to check the comparative interest rates - I think the new one (UBL) is better.
Need to check what the husband has too.
Update - he has 3 separate ISAs totalling £30,000.

Thought I'd submitted T7 but it looks like it was T6.