Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • julicorn
    • By julicorn 7th Dec 18, 12:43 PM
    • 838Posts
    • 3,434Thanks
    julicorn
    2019 Mortgage-Free Wannabes
    • #1
    • 7th Dec 18, 12:43 PM
    2019 Mortgage-Free Wannabes 7th Dec 18 at 12:43 PM
    Welcome to the Mortgage Free Wannabe 2019 thread!

    First of all, huge thanks to hiddenshadow for setting up and running the last few challenges, and also for pawlala for updating the spreadsheet last year. Without you, I doubt we would have been able to overpay anywhere near as much as we did.

    Because I don't think it can be said any better, here is the intro text from the previous years:

    Mortgages can seem so huge and long-lived that it often feels pointless to make over-payments - what's the point in paying 50 off a 100k mortgage? But even small overpayments have a dramatic effect; that 50 extra a month would cut almost four years and 10k of interest off the mortgage. And 200 a month? Without any overpayments you'd still owe more than half the original balance after 15 years, with the 200 ... you'd owe nothing and be mortgage free ten years early. Big difference, and that's why chipping away at the mortgage with whatever extra cash we can muster is (for most of us, at least) one of the best long-term steps to improve our finances we can make.

    Still, even when you 'do the math' the long road to getting rid of your mortgage still feels hard on your own, so we have this thread to set targets and report progress during 2019. Whether you're a brand new mortgage free wannabe, a veteran on the final stretch of the long slog, or someone who has cleared the mortgage and wants to provide some help and encouragement for others, this is for you. The challenge runs from January 1st-December 31st 2019, and you can join or change your target at any time up until December 31st. And if you're expecting to be mortgage-free before then, you're still very welcome. Likewise if you're saving towards something house-related (extension, new OP allowance, etc.).

    SPREADSHEET
    See how we are all doing on the big MFW 2019 spreadsheet HERE

    Links to previous challenges are here:

    TO JOIN

    If you've participated in the last few years, please let me know by the end of January whether you want to take part again and what your goal is for this year. Please also let me know whether you would like to keep your number or whether you don't mind - I want to re-allocate some of the 'lower' numbers, so now is your chance to snap up one that isn't triple digits.

    For all the new participants, please post on the thread and I'll allocate you a number - numbers will be first come, first served.

    Bear in mind that the challenge runs for the 2019 calendar year when setting your target. You're welcome to track total payments, overpayments, savings, etc. - whatever motivates you!

    UPDATES
    To provide progress updates and/or change your target, just post on the thread - I'll 'thank' posts when I pick up the update. I do make mistakes from time to time, so if I miss an update or get it wrong then please let me know.

    A few requests from me to make keeping track easier:
    • When providing updates, please include your MFW2019 number and the month(s) you are updating
    • Multiple overpayments in a month are fine and most certainly encouraged, but it will really (really, really) help me if you keep a running total when reporting updates (e.g. ...another OP of 200, which makes 600 in total for April...)
    • It's fine to miss a month or two and then provide updates for several months if you prefer, but please make it clear what you want allocating where.
    • It is helpful for me if you keep a running total for the year in your update post and/or your signature as I can cross-check the spreadsheet against your overall total, but this isn't required.

    Updates also don't have to be limited to just your stats - a bit of chat and encouragement can be hugely motivating.

    Finally: It's a new spreadsheet, and (as much as I hope not!) it may have the odd teething problem to start with. If you spot any mistakes, let me know, and I'll try and fix them ASAP. Similarly, if you have any requests for additional stats/features, let me know, and I'll see what can be done.
    Last edited by julicorn; 05-01-2019 at 7:31 AM.
Page 1
    • Lomcevak
    • By Lomcevak 7th Dec 18, 2:56 PM
    • 844 Posts
    • 4,924 Thanks
    Lomcevak
    • #2
    • 7th Dec 18, 2:56 PM
    • #2
    • 7th Dec 18, 2:56 PM
    Yes please



    Target is 20k
    MFiT-T5#6, 50k to zero: 31,099/49,907 (62.31%), 2019 MFW#8 38,479/42,500 (90.51%)
    60k-in-19#6 61,666.05/60,000 (102.78%)
    • Raggle1
    • By Raggle1 7th Dec 18, 3:07 PM
    • 46 Posts
    • 267 Thanks
    Raggle1
    • #3
    • 7th Dec 18, 3:07 PM
    • #3
    • 7th Dec 18, 3:07 PM
    Afternoon julicorn,
    Yes i would like to join again please using my same number. My target for 2019 is 10000.
    Thanks
    MFW 2019 No. 62 7120/10000; MFW 2018 No. 62 3390/2400
    SPC 12 No.006 34+/No target
    Virtual SPC 2019 No.11 43.03/100
    • erin_transport
    • By erin_transport 7th Dec 18, 3:18 PM
    • 866 Posts
    • 3,427 Thanks
    erin_transport
    • #4
    • 7th Dec 18, 3:18 PM
    • #4
    • 7th Dec 18, 3:18 PM
    Afternoon
    Yes please!
    My 2018 number was #138.
    My aim for 2019 will be 7500
    On a mission!

    2018 & 2019 MFW #138

    On babystep2 (#DR)
    • Poppycat1
    • By Poppycat1 7th Dec 18, 3:19 PM
    • 169 Posts
    • 643 Thanks
    Poppycat1
    • #5
    • 7th Dec 18, 3:19 PM
    • #5
    • 7th Dec 18, 3:19 PM
    Please could I join for 2019? Could I have number 25 again? My target is to reduce my mortgage by 8,000. This will include my normal payments as well as overpayments. Working on building up some savings and investments next year.
    Last edited by Poppycat1; 07-12-2018 at 3:37 PM. Reason: To add target
    MFW #25 - 2019 - Aim to get mortgage to 100,000, Start - 108,460.35. Current - 104,059.02
    MFIT-5 #25 - Aim to get mortgage to 70,000 (or have savings to get to this amount)
    Save 12,000 in 2019 #38 - 2350.00
    Make/Save 2,019 in 2019 - 298.39
    • Karona
    • By Karona 7th Dec 18, 3:32 PM
    • 20 Posts
    • 198 Thanks
    Karona
    • #6
    • 7th Dec 18, 3:32 PM
    • #6
    • 7th Dec 18, 3:32 PM
    Please could I join x
    LBM 2015 19200 debt paid off since.
    Cc 2200 on 0% til Nov 20 (1050)
    M-FiT T4 no 35 starting 35000 now 25139
    M-FIT T5 no 41 starting 25139 aim to clear now ?
    WTSHTF 00/1000 Weight loss 21/36kgs
    MFW19 no 3 ?/4000
    • kitjos
    • By kitjos 7th Dec 18, 3:34 PM
    • 212 Posts
    • 1,269 Thanks
    kitjos
    • #7
    • 7th Dec 18, 3:34 PM
    • #7
    • 7th Dec 18, 3:34 PM
    YAY!!! Thanks Julicorn for taking up the task for 2019! .

    Any # will do, and id like to be put down for 15,000 please xx
    "Don't underestimate the value of financial security"


    Wanting to be mortgage comfortable. 155,000 start / 95,064 currently / 50,000 goal

    Loan to be paid off asap. 16,220 start / 13,668 currently / 0 goal
    • julicorn
    • By julicorn 7th Dec 18, 3:59 PM
    • 838 Posts
    • 3,434 Thanks
    julicorn
    • #8
    • 7th Dec 18, 3:59 PM
    • #8
    • 7th Dec 18, 3:59 PM
    Hi kitjos, Poppycat1, erin_transport, Raggle1 and Lomcevak - I've marked you all as 'signed up', with the same numbers as before (they were mostly not too high, but if you want a lower one, give me a shout - just trying to fill in those gaps ).

    Please could I join x
    Originally posted by Karona
    Of course - welcome #3! What's your target for 2019?
    Original mortgage: December 2017, 203,495
    MFW start: April 2018, 201,800
    Current: 159,950
    • Lomcevak
    • By Lomcevak 7th Dec 18, 4:17 PM
    • 844 Posts
    • 4,924 Thanks
    Lomcevak
    • #9
    • 7th Dec 18, 4:17 PM
    • #9
    • 7th Dec 18, 4:17 PM
    Hi kitjos, Poppycat1, erin_transport, Raggle1 and Lomcevak - I've marked you all as 'signed up', with the same numbers as before (they were mostly not too high, but if you want a lower one, give me a shout - just trying to fill in those gaps ).
    Originally posted by julicorn

    I'll have a new number please, as I seem to have been quick off the mark
    MFiT-T5#6, 50k to zero: 31,099/49,907 (62.31%), 2019 MFW#8 38,479/42,500 (90.51%)
    60k-in-19#6 61,666.05/60,000 (102.78%)
    • julicorn
    • By julicorn 7th Dec 18, 4:20 PM
    • 838 Posts
    • 3,434 Thanks
    julicorn
    I'll have a new number please, as I seem to have been quick off the mark
    Originally posted by Lomcevak
    Excellent - you're number 8 now if that works for you? I'm currently still saving the numbers from people who updated last year, just in case they want them back, but all the blanks are up for grabs
    Original mortgage: December 2017, 203,495
    MFW start: April 2018, 201,800
    Current: 159,950
    • beanielou
    • By beanielou 7th Dec 18, 4:43 PM
    • 67,077 Posts
    • 303,811 Thanks
    beanielou
    Count me out for next year.
    My number was 144.
    Lou~ Debt free Wanabe No 55 DF 03/03/14. MFW. 17 months to mortgage freedom.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • julicorn
    • By julicorn 7th Dec 18, 5:07 PM
    • 838 Posts
    • 3,434 Thanks
    julicorn
    Count me out for next year.
    My number was 144.
    Originally posted by beanielou
    Sorry to see you're not joining again beanie, I always loved your 11/22/33/... (remember, we call them "booze numbers" in German ) payments. Thank you for the heads up though!
    Original mortgage: December 2017, 203,495
    MFW start: April 2018, 201,800
    Current: 159,950
    • Bounty123
    • By Bounty123 7th Dec 18, 5:17 PM
    • 26 Posts
    • 148 Thanks
    Bounty123
    Hi,

    Can I please join??? I would like to eradicate 5,000 from my mortgage next year.
    Any number would be great.
    1 debt vs 100 days chapter 33 No.4
    SPC 12 No:113
    2019 MFW No:23
    1 a day for Christmas No:16
    • julicorn
    • By julicorn 7th Dec 18, 5:28 PM
    • 838 Posts
    • 3,434 Thanks
    julicorn
    I've just gone through the most recent pages of the 2018 thread as well, and marked everyone who's already said they want to take part again next year - apologies if I missed anyone!

    Miss D Meanour, utopiah, lindez, chocoholic_chick, cod3, jackieblack, Miss Pinky, anna42hmr, mortgage destroyer - I've kept all your numbers the same as 2018 for now - let me know if any of you would like a lower one.

    Roxie, I've given you number 33 now. Could you let me know your target for 2019 as well?

    greent, thanks for already mentioning your target of 5k, I've added you back in with the same number as well.

    Cherryfudge, I've logged you as keeping #30, and with a target of 2,880.

    life is sweet, I've signed you up again with your new number 11 (hope that works for you) and a goal of 15k

    wishingthemortgaheaway - I've got you down with your current number #162, would you maybe like a lower one? Please let me know your goal as well.

    teameffort - same as above, I've logged you as participating again. Would you like a lower number than 143, and could you let me know your goal as well?

    frugal_lass, I've added you in as #19 for this challenge (how fitting, 19 in 2019!). Could you let me know your target too?


    Thanks everyone!
    Last edited by julicorn; 07-12-2018 at 5:31 PM.
    Original mortgage: December 2017, 203,495
    MFW start: April 2018, 201,800
    Current: 159,950
    • julicorn
    • By julicorn 7th Dec 18, 5:30 PM
    • 838 Posts
    • 3,434 Thanks
    julicorn
    Hi,

    Can I please join??? I would like to eradicate 5,000 from my mortgage next year.
    Any number would be great.
    Originally posted by Bounty123
    Welcome Bounty123! I've given you number 23 - shouldn't be too difficult to remember with that name
    Original mortgage: December 2017, 203,495
    MFW start: April 2018, 201,800
    Current: 159,950
    • Dobbibill
    • By Dobbibill 7th Dec 18, 5:45 PM
    • 3,801 Posts
    • 5,191 Thanks
    Dobbibill
    Hi julicorn,

    Thank you for picking up the reins from HiddenShadow and pawlala.

    Could I join again this year please?
    My previous number was #45 but I don't mind keeping/leaving the same number and am happy to have the most suitable for you & the spreadsheet.

    Going to go bigger this year and double my target to reflect my focus so aiming for a cheeky 2000 OP for 2019. (with a bit of determination, perhaps I'll exceed it and get to 2019 for 2019 )

    Thanks again
    Dobbi
    • julicorn
    • By julicorn 7th Dec 18, 5:50 PM
    • 838 Posts
    • 3,434 Thanks
    julicorn
    Thanks Dobbibill! Keeping #45 works well, so I've kept it as that for now
    Let's see if you can stretch to 2019 for 2019, I like it!
    Original mortgage: December 2017, 203,495
    MFW start: April 2018, 201,800
    Current: 159,950
    • Betterthanever
    • By Betterthanever 7th Dec 18, 6:26 PM
    • 582 Posts
    • 3,844 Thanks
    Betterthanever
    Please can I join! I've got a target of 10,000 to be a combination of overpayments and offset savings.

    Good luck everyone and thank you for heading up the challenge julicorn.

    Current balance 219,990.00. Offset 0. 219,990.00 needed to be mortgage neutral!
    End date - 12/28 but aiming for 12/23 - 2019 Overpay & Offset 0
    Former DFW Nerd 230. Determined to be MF. Bring it on!
    • ChotaPeg
    • By ChotaPeg 7th Dec 18, 6:27 PM
    • 10 Posts
    • 23 Thanks
    ChotaPeg
    Hiya Julicorn, I'm a newbie. Any number is fine. My goal for 2019 is 2000 as I'm aiming for a bit more balance in my plans next year. Thanks! ChotaPeg
    • julicorn
    • By julicorn 7th Dec 18, 6:29 PM
    • 838 Posts
    • 3,434 Thanks
    julicorn
    Please can I join! I've got a target of 10,000 to be a combination of overpayments and offset savings.

    Good luck everyone and thank you for heading up the challenge julicorn.
    Originally posted by Betterthanever
    Hi Betterthanever! I've assumed you're ok with a new number and given you #29, hope that works for you.
    Original mortgage: December 2017, 203,495
    MFW start: April 2018, 201,800
    Current: 159,950
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

94Posts Today

2,040Users online

Martin's Twitter