FIRE Through The Mortgage - MF by 55 - LATEST

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  • greent
    greent Posts: 10,671 Forumite
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    Fingers crossed for contract extension and mortgage smashing! :)

    My OH has just had an extension until end of June from end of this month - not bad when the original end date was mid July last year :)
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • Firegirl
    Firegirl Posts: 929 Forumite
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    edited 15 April 2018 at 9:09AM
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    AFK - the brilliant thing and the worst thing about contracting is the end date. It gets you through the most difficult days!!! I only have to take this beep until the end of June!!!! Lol

    shangai- meeting targets is great! I do feel like I could put more effort into get it down even further. Ive started enjoying getting coffees and nice lunches which I could cut out and save a fortune!

    Greent- well done to your husband getting extended. It!!!8217;s the best complement a contractor can get. He must be doing a great job!

    So my plan for the next few months is to cut down the coffee runs in work. I am also in a new tax year and can now pay myself a set salary from my company. So credit card is cut up and I stick to a monthly amount of salary. This will naturally reign in the coffees. Interest free period lasts until April 2020 so Ill just let that tick away rather paying it off with dividends from my company account. I could stooze with it but hate being in debt so have ruled that out!

    Happy Sunday everyone!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • Firegirl
    Firegirl Posts: 929 Forumite
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    edited 18 April 2018 at 7:03PM
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    :beer:4K moved from savings off set to come off balance and sig updated.

    When the mortgage payment comes off at the end of this month Ill be in the £180k bracket. I met my target 1 month ahead of schedule and for the MF by 50 plan.

    Im so pleased!!!!:j
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • greent
    greent Posts: 10,671 Forumite
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    Whoop - fab stuff! :) Well done! :T
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • Firegirl
    Firegirl Posts: 929 Forumite
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    edited 12 May 2018 at 9:00AM
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    Boss has asked if he was able to would I extend til the end of December. Said Id be delighted! Have to wait a few weeks to see if it actually happens now!:j

    Planning to do a car boot sale with my kids. Teach them about ways to make some extra cash by selling things they dont want. We do a lot of eBay and gumtree but for some reason I havent had much luck recently so stuff is piling up.

    Went to charity shop and got loads of stuff - I was delighted! £30 for 3 dresses, 2 tops and a pair of trousers. I needed work trousers so thatss that sorted and a few dresses for holidays. One of the tops Ive been complemented on 3 times already. Not sure why I cant contain the place of purchase and price!!!:rotfl:
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • Firegirl
    Firegirl Posts: 929 Forumite
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    edited 3 June 2018 at 4:08AM
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    Smashed this years target! Delighted!!!

    Sig updated and I will leave it for a while before updating May 2019 target!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • Firegirl
    Firegirl Posts: 929 Forumite
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    edited 3 June 2018 at 4:07AM
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    Next target May 2019 is £174, 000!!!!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • di-di-di-dah-di-dah
    di-di-di-dah-di-dah Posts: 19 Forumite
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    Excellent progress. We have very similar target date so I will keep checking on this diary to stay motivated myself.
  • Firegirl
    Firegirl Posts: 929 Forumite
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    Updated my signature - this year Im aiming for the MF by 50 Target.

    The amount I need to pay to meet targets below is:
    MF by 55=£3799
    MF by 50=£14567

    Aiming high this year!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • Firegirl
    Firegirl Posts: 929 Forumite
    First Anniversary Name Dropper First Post
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    Moved some funds from the offset savings to the mortgage balance.

    Balance now £184833
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
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