Finally into mortgage overpay mode
in Mortgage-Free Wannabe
12 replies 1.3K views
Hi been lurking around this forum for a while now and have found the advice I have managed to gleen from across the forum invaluable. Me and the wife 3 years ago got hit by job loss and was out of work for 10 months. This led to massive debt and neary losing our home, from that point on I decided that I never wanted us to be beholden to any financial institution ever again and our hard earned cash worked for our family rather than lining the pockets of the financial instititions. Anyway we finally cleared out 65K of unsecured debt last month and managed to overpay our 342K mortgage by a modest 12k and have saved a years living emergency fund. Now starting to feel an immense feeling of satisfaction the attention is now being directed at the outrageous mortgage we have and have devised a plan that fingers crossed we can stick to and will see our mortage spanked in 5 years . Pretty ambitious stuff and only allows a very modest lifestyle but to be 100% free of any debt and safeguard our family in the future no matter what happens is a pretty good incentive . Expensive cars have gone , no more visits to pub (well the odd one im not that saintly) adopted the mantra do we really need that and now constinstently review our overall financial health to ensure every last penny is sweating . So heres to the journey to being mortgage free :beer:
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