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Category: Mortgages and debt

A mortgage and debts can place a huge drain on your finances. However, becoming mortgage free or debt free is a possibility that can revolutionise you finances and enable you to build your financial strength. These posts will help and inspire you in you mortgage and debt repayment journeys.

Goodbye mortgage free dream. Hello dream home!

Goodbye mortgage free dream. Hello dream home!

After 5 years of aggressive mortgage payoff followed by a windfall that allowed us to payoff our mortgage on our first little home, we’ve had a blissful 4 years of mortgage freedom. It was never going to last. Our plan was always to move, and that was always going to mean another mortgage. In fact, when we bought our first home, we expected we’d be moving in 4 to 5 years. But time often has a habit of rolling by…

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The case for buying cars on credit

The case for buying cars on credit

A few months ago, I wrote a case for saving money on the small stuff. It’s not always popular financial advice, and maybe it doesn’t make you a millionaire, especially if you’re saddled with lots of big expenses that you can’t do anything to reduce. That doesn’t mean it’s not worth doing. Today I wanted to share another view that isn’t always popular, by making a case for buying cars on credit. I’m sure you’ve read it all before; don’t…

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Repaying our mortgage- luck, or judgement?

Repaying our mortgage- luck, or judgement?

It took us 5 years and 3 months to pay off our £103,000 mortgage. It’s not the quickest anyone has ever managed it, but by the vast majority of people’s standards, it’s pretty darn quick. (I still feel pretty staggered by it) It wasn’t super easy and there are lots of things we went without in order to make our dream a reality. That being said, we also had a fair amount of luck on our side too. I wanted…

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Repaying the mortgage one chocolate-free biscuit at a time

Repaying the mortgage one chocolate-free biscuit at a time

If you have a mortgage, there’s a good chance that you’re somewhere between these categories: Content with paying your monthly payment Have found a good balance between overpaying on your mortgage along with the other things in your life that are important Want to do everything you can think of to get your mortgage paid off as quickly as possible It’s fair to say that we were closest to the third category; wanting to do everything we could think of…

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Aiming for debt freedom? Knowledge is power

Aiming for debt freedom? Knowledge is power

Are you aiming for debt freedom? Understanding the cost of your debt can be a powerful motivator in helping you cut down on non-essential spending.   The are a couple of things it’s worth knowing, to give you a little extra push to repay that debt as quickly as you can: How much interest you’re charged daily If you don’t know this already, you may be surprised by how much interest you’re charged each and every day. Let’s assume you take out…

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Escape from your prison of debt

Escape from your prison of debt

Debt can make you feel like you’re trapped in a financial prison. If your debt doesn’t leave you feeling trapped- perhaps you just have a mortgage and can easily afford day trips and meals out- well, that’s a bit like one of those open prisons. You might not be relentlessly checking your bank to see which payments have gone out, but you don’t have the freedom to spend your money on what you want. Like the prisoners of Alcatraz, to…

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Three key things that made our mortgage free dreams a reality

Three key things that made our mortgage free dreams a reality

  There are three key things that I believe made our dream of mortgage freedom a reality. We became mortgage free in July 2016 after working towards our goal for almost five and a half years. It wasn’t easy and it wasn’t just 3 things that got us there- there are lots of smaller things we did to manage our money better every day, week, month and year. This absolutely isn’t intended as advice, and you should make sure you…

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