How old is everyone?

cupid_s

I'm 26 this month, DH is 26. I decided I wanted to be mortgage free about 2 years ago (and dragged DH along for the ride). But I have done much better since joining the MFi3 clan and should be free before I'm 28. But then we'll buy somewhere bigger and much more expensive so wont stay mortgage free for long.

I am so surprised (and well impressed) by the amount of people my age and younger here. I feel like a complete MFW loner usually as all my friends supposedly 'can't afford to buy in the first place', or 'aren't lucky enough to be able to afford to make overpayments' :rolleyes:.

MiserlyMartin

When I was 22 I got my first mortgage. Within 6 months of getting it, I quickly worked out how much interest I would save if I paid it off early, so have been working towards this ever since. I did have an idea of doing a BTL in 1997 (way before Krusty Kirsty and her property !!!!!! programmes) but this was met by resistance from my then girlfriend and an estate agent who told me being a landlord is reserved for those who have most of their mortgages paid off would require a large cash desposit before even considering doing something like that!!! Oh the days before you gambled with other peoples money and played the housing market like stocks! Oh how green was I then to listen to the advice of an estate agent. I dismissed the idea. If I had ignored him and carried on and bought a 2nd home look how well I would have done. That would have paid off the mortgage!

spamberler

Ive just seen this thread and im amazed!! Im 25 and been paying my £435 mortgage about a year and a half now...only another 23 1/2 yr to go lol. I think you guys are fab doing this! I dont think I could do it myself without getting depressed!

gallygirl

poppyoscar wrote: »

OMG you're all so young!!!!!

I'm 47 in real life, but i still think i'm 19 inside!!!

PO xx

Yeah, someone older than me!!!!!! I'm 46 & counting .

I have 3 yrs, 3 months and 17 days to have mortgage paid off by (the day before I'm) 50. So, that's 1205 days. So, that's £35.007 a day :eek: .

TTFN, off to earn some money

Henwen

I think the MFW age differs for everyone ie it depends on each person's history and goals. Then again, I'm just depressed as I've just reinvested equity in works on my house....

Even with interest rates going up, mortgages are still cheaper than personal loans/credit cards (unless interest free but remember balance transfer fees). So, the first rule (hope Martin agrees!) is to pay off most expensive debts first, before overpaying your mortgage. Offsetting is very good as you don't lose the money for good while still saving interest. You also deprive those b******s, Gordon and Alistair, of tax on your income as you are not "saving"!

Watch out for penalties eg many mortgages won't let you pay more than 10% a year. If so you can save your spare cash somewhere (cash ISA if possible) while you wait to be allowed to pay more off. Where there's a will there's a way....

Henwen

IHateDida

I am 33, the OH 35 - we are now in our 2nd house with a £142k mortgage last year over 25 years - by over paying just an extra £320 - we have cut that down to 14 years (now 13 years). We moved ito a decent sized 4 bed property so aren't in a hurry to move again and just want to be mortgage free! (although we are limited to how much extra we can pay due to having a 10 year fixed).

And in true MFW fashion - we also have a mortgage pig!!!! LOL!

wymondham

I was 39 and OH was 37 last year - now mortgage free.

soba

I'm 46 and DH is 38. Mortgage free since last August. It's a nice feeling.....

TurnaroundSue

Me and OH were MF for 2 years when I was 34 and he was 37. However moved to a bigger house and will now be MF in 6 years, but are hoping to get it down to 4 by making overpayments starting in September.

poppyoscar_3

HC wrote: »

I'm quite envious of you 20-somethings. I just wish Martin and co. had been around when I was that age. He might have knocked some sense into me.

It took my husband and me almost 20 years to reach our moment of enlightenment - take charge of our finances, stop overspending, prepare for the future.

We were paying thousands every year in interest on our overdraft and credit card debts, our heads in the sand, until we remortgaged (our fixed rate came to an end) and we finally sorted ourselves out, once and for all.

We had no excuse. The early eighties were a great time for lots of people - but we didn't save, just spent... and on nothing in particular. No exotic holidays, no Porsches. Where did it all go?

So, good for you, you young 'uns. Get those mortgages paid off. We've been straight (in the debt sense, not the criminal sense) for a good few years now and it feels so good to say we are debt-free and hoping to pay off the millstone of our mortgage later this year.

yeah but how old are you?
i'm desperate for someone to be more than 47 yrs 4 months and two days (as of today!!)

PO xx:rolleyes: