The Mortgage Free in Three - Take 4 challenge (MFiT-T4)

FreedomGirl · 30 April 2016 at 2:11PM

Hi,

Well, I set that insane target of going from £160,537 to £250,000...

Which means I should be reporting £7455 to stay on track.

Right, so what does my current total look like ?
SIPP = £146133
ISA = £22057
PB = £625
AVC contributions = £1933

Total = £170748
Meaning an increase of £10211

So, by getting my starting point somewhat wrong (and broadening the scope of what constitutes savings

), I have managed to stay on track.

Right, off to update the chart

FG

CathT · 30 April 2016 at 4:59PM

Great chart. We had reduced our overpayments for the first quarter as have been saving for architect fees. We have now reinstated our £308 monthly overpayment so should be in the green for the next update. Really useful to see the shortfall figure too.

My_Lovely_Carrot · 20 May 2016 at 2:00PM

Hi, trix-a-bella, I'm number #37

I just checked the chart and my post #223, has not updated my balance. OP Jan - Apr £4,274.80. My new balance is £146,005.82 as at Apr 16. Thank you. MLC.

trix-a-belle · 20 May 2016 at 2:16PM

My_Lovely_Carrot wrote: »

Hi, trix-a-bella, I'm number #37

I just checked the chart and my post #223, has not updated my balance. OP Jan - Apr £4,274.80. My new balance is £146,005.82 as at Apr 16. Thank you. MLC.

My Lovely Carrot
That would be because you need to submit an update form for chart updates like to did to register for the challenge as is requested at the beginning of the thread.
I can not follow all the posts on the thread as by the end of 3 years it will be a beast and people could go back and edit their posts which I won't be aware of, the form submission ensures there is a fixed record on the spreadsheet which is the master source.

The MFiT-T4 form

If you are unable to submit a form then you can pm me and I can acknowledge it but submitting a form is vastly preferable.

I will update it now but please could you submit it on a form also to see what you need to do for the next chart.

Everyone this also goes for target changes, please can you send through a form to confirm!

Thanks

My_Lovely_Carrot · 21 May 2016 at 10:38AM

Thanks, trix-a-belle

I must have missed that, not taken part in a long running challenge before.

trix-a-belle · 21 May 2016 at 12:02PM

My_Lovely_Carrot wrote: »

Thanks, trix-a-belle

I must have missed that, not taken part in a long running challenge before.

No worries i'll try & make sure to post the link on the run up to a chart date as a reminder

FreedomGirl · 21 May 2016 at 6:47PM

Let's all give Trix a big thank you for all the admin she does

An appreciative FG

porgiegeorgie · 28 May 2016 at 12:58PM

Ooh, am I too late to join this challenge? Can I go ahead and register or will it mess everything up coming in after it has started?

I bought my first house in February and am keen to reduce my mortgage by as much as possible. I was previously a member of the "save 12k in..." challenges and they helped no-end in saving a deposit so hoping I can join this one too!

trix-a-belle · 28 May 2016 at 1:06PM

Thanks FG

PorgieGeorgie
Not too late pop a registration form through with your intended challenge & start and end figures & I'll put it in the spreadsheet over the next few days

porgiegeorgie · 28 May 2016 at 3:17PM

trix-a-belle wrote: »

Not too late pop a registration form through with your intended challenge & start and end figures & I'll put it in the spreadsheet over the next few days

That's great, thanks Trix!

I have submitted a registration form with my challenge amounts. I also submitted a starting mortgage balance for 25/01 (it actually started a couple of weeks later, but pretending it started then) and what my balance was around 25/04- it's going to be like I was always here

hope that was the right thing to do.

So here goes:

My target during this challenge is to reduce our mortgage from its starting balance of £142480 to £86700.

I think we're off to a good start, between early Feb (when the mortgage began) and 25/04 we reduced the mortgage balance from £142480 to £138900, including overpaying £2800.

Excited for the challenge! :j

PG X

The Mortgage Free in Three - Take 4 challenge (MFiT-T4)

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