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    • CathT
    • By CathT 2nd Sep 10, 11:22 AM
    • 5,548Posts
    • 38,663Thanks
    CT's attempt at being mortgage free
    • #1
    • 2nd Sep 10, 11:22 AM
    CT's attempt at being mortgage free 2nd Sep 10 at 11:22 AM
    Hi all,

    Originally came across this forum and had the idea of OP in the short term while interest rates so low but have been so inspired to make being MF a realistic goal.
    Initially was inspired by Financial Bliss's diary and then read many others taking in lots of tips and posting the occasional comment.

    So, a bit about me. Live with DH and DD (aged 2) with outstanding mortgage of just over 119,000 with about 19.5 years left on the term. We are young ish! and would hope to be MF by time i'm 40 (DH 45) so pretty much a 10 year ish plan.

    We have a fair income (about 40k joint) but have been used to living on a lot less so am hoping to direct disposable income at mortgage)

    Thanks for reading so far and I hope you will join me on my journey to keep me motivated!!
    Last edited by CathT; 20-12-2011 at 1:49 PM.
    May 2018 -
    part 1 - £77,906
    part 2 - £45,391
    Total - £123,297
Page 229
    • greent
    • By greent 16th May 18, 8:31 AM
    • 7,011 Posts
    • 71,593 Thanks
    We've only got one at swimming lessons now - stopped the lessons for the other 3 when they could swim more than 100m/ were in blue level or above. Expensive when we had more than 1 in lessons at a time - but such a worthwhile and necessary skill, imo
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £877.49/£4000
    Net sales 2018 £491.03/£1000 PAYDOX18 (#15) £13869.38/£18694.38
    • shangaijimmy
    • By shangaijimmy 16th May 18, 9:39 AM
    • 2,720 Posts
    • 13,420 Thanks
    DS1 i managed to teach him myself, but he was like a fish. Not scared at all and could swim 10m without armbands by 3 1/2. DS2 on the other hand was petrified so we needed the lessons. DD i suspect will be like DS1. As you say green its a vital skill that they all need.
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • CathT
    • By CathT 17th May 18, 1:02 PM
    • 5,548 Posts
    • 38,663 Thanks
    Yes I strongly believe it is a necessary skill and really should be prioritised before other activities. It is the only one ds does currently but he should be starting piano lessons soon when teacher has more availability.

    45 would be great for mortgage freedom, I know so many people buying their first property in their 30s and those late 40s with many years left on their term. We are definitely doing the right thing in overpaying.

    Having said that we are currently on our 4th holiday in a year!! But cloudy and hubby and children playing football so having a sneaky 10 minutes on here! A colleague quizzed me recently (in a nice intrigued way) how we afford so many holidays. Being frugal day to day is definitley key for us.i will happily book holidays but I would get annoyed at having to buy lunch for example! What a waste of £5!
    May 2018 -
    part 1 - £77,906
    part 2 - £45,391
    Total - £123,297
    • CathT
    • By CathT 23rd May 18, 10:02 PM
    • 5,548 Posts
    • 38,663 Thanks
    Well we are back from a wonderful week away. We spent more than intended whilst away as went on a day trip over to Gibraltar (but this did mean we ticked another country off the list) and also withdrew more cash as we were haemorraghing it! There were lots of photo opportunities at the hotel and at 10-20 euros each the spends quickly crept up. We do have some fantastic photos ready to be framed though and also had a caricature done of the children.

    Payday so have made all the necessary transfers. Found money lurking in an account of dh which was a small ppi claim so that and a tilly tidy resulted in a £9.50 mortgage op, I did say it was a small claim! Also came home to another £20 of vouchers following another referral made. Am hoping to paint the decking this weekend so hopefully that will buy the paint. 50p on yougov today and credit card spends paid off. Have also paid for half term football club for the children so it really has been all systems go since we got back. The holiday washing seems a breeze in comparison!

    I am sure I say this each month but it definitely needs to be a frugal one!
    May 2018 -
    part 1 - £77,906
    part 2 - £45,391
    Total - £123,297
    • newgirly
    • By newgirly 23rd May 18, 10:14 PM
    • 6,282 Posts
    • 43,363 Thanks
    Glad you all enjoyed the holiday cath, great to be asked how you afford so many, most people just make assumptiions and would not expect it to be because you are brilliant at stretching the pennies well done
    MFW 21
    Target for 2018 £40k/£13,632 paid so far

    Mortgage £36,319 4yrs left. Total owed £48,358 plan to clear in 14 months
    • apple muncher
    • By apple muncher 24th May 18, 7:32 AM
    • 7,295 Posts
    • 54,944 Thanks
    apple muncher
    Glad you had such a wonderful time away together. Did you bring the thunderstorms back as a present for the rest of us...?
    NST May #1; NSD 14/19 ; Ex 17/20 ; craft 3/30 (66); remove 31 (402)
    2018 Pay off: £1626; 2
    018 sell

    Mortgage £21,422 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143) MFWDate Dec 2018
    • CathT
    • By CathT 24th May 18, 9:43 PM
    • 5,548 Posts
    • 38,663 Thanks
    Thanks newgirly, it does pay to be frugal day to day. Apple you're not the first person to link me to the deteriorating weather! It's stayed dry here but has been cloudy for most of the day so fingers crossed it picks up again for the bank holiday weekend.

    dh has been an absolute gem and made a second trip to the supermarket to save me going after work. I also came home to see he had mowed the lawns after me texting him to say I would do it after work (not that I was hinting). Had my fracture reviewed today and it is healing but not quite there. Still getting intermittent pain and swelling so will try not to over-do it.

    Found £4.19 in tcb account so have requested that and overpaid it, will transfer money once it hits the account. DH has spent some of his compensation money on a new tv (I don't think we need one but since he has given me £1000 of the money I am not going to debate it with him!) My share is in a 5% saver account! He did however plant a though that we don't need the log burner I am planning as he has suggested moving the fireplace into the family room. The lounge gets really warm so we never use the fire in there and it just acts as a feature. I did wonder whether to buy one of the electric stoves for the family room as we literally just need more heat sources in there. Either way I think the log burner idea will be scrapped so I now have a spare £1000!
    May 2018 -
    part 1 - £77,906
    part 2 - £45,391
    Total - £123,297
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