How to be mortgage free after 8 years

thriftmonster

Keep going, Hallowe'en Queen - I know what you mean about occasionally feeling sorry for yourself, but it is worth it. We had 2 mortgages on our house (because of moving within 3 years of the 1st one) - have op them both and one of the best moments of my life was when I made the final payment on the smaller one in Feb this year - I wanted to shout to everyone in the Nationwide! Naturally all the money from that has now gone on the other op and I am so looking forward to next year sometime when we do the same again. Dh will be there for that one - we need to celebrate all the holidays not taken, meals out not eaten, presents for each other not bought!!

halloweenqueen_2

Thanks thriftmonster!! I had a few days away with family, so I had a break I suppose!! It did cut down my overpayment from what I was aiming for but it was nice to get away and on the cheap!!!

Thefunkygibbons

Just had some unexpected good fortune

Share options grew in value due to impending merger, so I paid the proceeds off the mortgage

I have now brought Mortgage Free date down to Oct 2007, which is 6 years 10 months from the beginning

I know that it was pure luck but in my defence, the holiday this year is costing £75 for the first week camping in Devon and a gift to the farmer for the second week for use of a field in Wales

halloweenqueen_2

Good for you!!
I just got my mortgage statement and I'm not another £1000, I keep plugging away!! I'm 9 years in and hoping to be free in 5 years!! (or less hee hee!)

halloweenqueen_2

down another £1000!! for some reason I can't edit my link, when i click on edit nothing happens?

jonnydoe

It's all about living now or living later in life or a bit of both. In my opinion it should be split down the middle. If you save all this money then suddenly (god forbid) get terminally ill at 50 and have 6 months to live you have 6 months to enjoy it.. My mother never made retirement, cherish what you have now but don't overspend beyond your means. Also don't save every penny you have spend a little on treats now and then..

halloweenqueen_2

I agree with you but I had a whale of a time for the last couple of years and now am buckling down. I've had a lot of death and disease in my family so I appreciate what you're saying. It is a balance I agree but most of what I'm raising the money from is stuff I don't need, and a couple of odd jobs that are not impacting on my life at all. I also have the rental income from a property that I don't use for my overpayment at all.
Its because I've had so many holidays in the last couple of years that I miss 'em this year!! but we have lots of projects and get togethers to do this year so we don't actually have the time for them - boo hoo!!

comping_cat

Im doing the same as halloweenqueen, normally i would spend any extra money i had (if i get any) on nothing in particular, what i am doing now, is when i get some extra, that im not expecting or have budgeted for, i am now putting it into my mortgage pig, and using it to pay off the mortgage a bit quicker. We have just had a wonderful holiday to Florida, and we want to go again, it will take another 3 years to save, but we will do it, but im going to continue with the mortgage pig as well!!!!!

halloweenqueen_2

I'm planning to get back there in the next couple of years too - I'll race ya!!

comping_cat

Ohhhhhhhhh, i love a challenge - your on!!!!!