2008 MFW newbies

frugalfreda

I haven't been on here for a while..... but I just wanted to say well done everyone - this challenge is going so well!

No overpayments for us in February and there will probably not be any for a while now. I am saving for maternity leave (nb. no bun in the oven yet). I also need to start thinking of putting some money away soon for remortgaging next January - guess a hefty arrangement fee may be coming our way.

Keep up the good work chaps. :beer:

Sosh

Hi,

I'd love to join.

I'm currently on maternity leave so money is tight at the moment, but have still managed to overpay by about £900 this year.

Our current debt is £150,500 and we are due to finish our mortgage in April 2029. My goal is to be mortgage free 10 years early and I think joining this thread will keep me focused.

Goal for 2008, overpay by £4000.

newmoneysaver_2

Sosh - Welcome, I'm sure bellsbells will be along soon to add you to the first post. Sounds like you have made a fantastic start - overpaying whilst on maternity leave :T

tootallulah

This is my last post for March as I am off on holiday tomorrow, woo hoo. Completely unexpectedly I received some expenses from a USA trip today so I have been able to pay of £500 - it's been a lucky month.

Good luck all see you in April,

torbrex

Have a good holiday toots and bring back some photo's.

bellsbells

49clare wrote: »

Hi
I'd love to join this board.

We've just swapped our mortgage to save us nearly £40 per month. As well as doing that, we want to bring our £55,000 mortgage down asap.
Hope to pay £400 p month to finish our mortgage in 6 years.
First overpayment to start in April

Here goes!!!!!!!!!

Welcome 49clare you are added to the first post! Let me know when you have a target in mind:j

bellsbells

ShakyStoozer wrote: »

I'm in the process of switching to an offset mortgage so would love to join you MFWs!

Got a 20 year term and looking to pay off in 9 years!!

Welcome shaky - let me know what your target for the year is and I will add it to the first post:beer:

bellsbells

ShreksBodyDouble wrote: »

Hi all,

I've been lurking on this board for a while and have decided to take the plunge and ask to be added to the stats please? I've been saving up and had a few hundred pounds put by - several times over the last few weeks I've 'almost' bought us a new LCD TV with it, which we do not need and something kept stopping me, I knew there was something more useful I could do with our pennies. After reading many of the posts here and having a good think about it, I've taken £500 of that money today and made an overpayment on our £61,000 mortgage!! :T I know it's only a tiny dint in it but I feel better thinking about the interest it's saved us. I now hope to save another £500 by the end of they year, making a total overpayment of £1000. Wish me luck, and well done to all of you, you've been a bit of an inspiration to me lately.

nice one shrek! You are added to the first post:beer:

bellsbells

IDN101 wrote: »

I just want to start by saying "what an amzing thread" and "more power" to all the fantastic people on here showing so much drive, determination and motication in order to get their mortgages paid off.

Hopefully there's a little room left for me to join you on the journey?

So here's the challenge I am setting myself:-

I took out a £150K mortage 2 years ago. I am now aiming to pay the whole lot off in 3 years time.

A little about me and how I aim to do this:-
I am a 38 year old architect, with a partner and young son. In the middle of last year I started a website- focusing on a small, specific niche- the use of a particular peice of industry-standard software. So far the visitor numbers have gone from strenght to strenght- about 20-30% increase month on month. Access to all areas of the site is free, but I generate income from the Google Adsense programme.

My plan is to keep developing thewebsite on a daily basis- thus increasing traffic ( and income). I also plan to start doing part-time consultancy work this year- ie conduct in-house training on the piece of software that my site is about. So my site will act as an advert for the consultancy business- hence building up a potential client-list now. I have checked the prices that other consultants charge in this field of expertise and it's about £500 per day. I think I'll be able to fit in 2 days of consultancy a month- as I'll obviously be keeping my 40K full time job the whole time.

All the income from this "side line" will go towards paying my mortgage off.
The only outgoing costs for the "side line" are £90 annual web hosting fee and £60 annual domain name registration fees. Obviously I'll have travelling expenses when I start travelling to do the consultancy work.

Sorry to whittle on, but I'm excited about the whole thing!!!!!! To be mortgage free by the age of 42 will be fantastic!!!:A It will mean that I can make dreams come true for my family and I.

All the very best to everyone on the journey to financial freedom.

Regards,
Ian

Welcome to the gang ID:T You are added to the fist post and let me know when you have a target sorted out for this year!

bellsbells

Sosh wrote: »

Hi,

I'd love to join.

I'm currently on maternity leave so money is tight at the moment, but have still managed to overpay by about £900 this year.

Our current debt is £150,500 and we are due to finish our mortgage in April 2029. My goal is to be mortgage free 10 years early and I think joining this thread will keep me focused.

Goal for 2008, overpay by £4000.

Welcome Sosh:beer:You are now on the first post