Lessons & Surprises from the First Year of MFi3

catshark88

The first year of the MFi3 challenge has been quite a learning experience. I thought it would be interesting to see what people had learned, realised or been surprised by during their first year.

• I was surprised to find I had cash I had rather forgotten about, languishing in poor investments (sadly they were only small amounts!).
• I have realised just how well, tiny amounts, do add up when you keep sticking to making tiny payments off the mortgage.
• I have accepted that our mortgage really is a giant debt (somehow it seemed unreal before and just the "normal" lifelong way of owning a house.
• I have learned how much cash we were wasting, even though we don't live a very flash or extravagent lifestyle. Long gone are the days of wandering around Mr T, picking up what we fancied!

What about you?

benbenandme

I've found a real sense of pride from being part of this challenge; I'm still just as motivated as at day one and I read the boards every day for further inspiration

I agree, every penny counts and I love playing around with the calculators to see the effect the pennies have on my mortgage free date

setmefree2

I'm part of the Mfi3 challenge - however, me & mr SMF2 have already been at this for 5 years:rolleyes: we are entering our 6th year. After a while it just becomes part of your life - so it's away of life.;) Can't imagine what it'll be like when it's been finished but we still have at least another 4 years to go. So I'm not going any where for ages:rotfl:Nice to have fellow travellers now though...helps keep me focused. Thanks.

hughmungas1986

We joined the challenge and set the target knowing that we probably wouldn't reach it, but thanks to the many suggestions and ideas on the site, we have a real chance of achieving the target. I enjoy updating my signature every month with the latest amount.

We don't have a massive mortgage like some but we don't have a massive income either, so for us every penny counts. Although spoiling the kids is another thing !!!

Anyway keep all the great ideas coming

hughmungas