~Mon~ Nov 2nd 2009
This article is the sixth of a thirteen-part series that explores the core tenets of Get Rich Slowly.
Last winter, Kris and I re-financed our mortgage. In one fell swoop, we trimmed our monthly payments for principal and interest from $1386.60 to $1137.69, boosting our cash flow by $248.91 per month.
If we had consumer debt, that’s $248.91 per month we have could used for our debt snowball. It’s $248.91 per month we could stick in our retirement accounts, or to put into savings accounts for our trip to France next year — or to pursue other hobbies and interests. Really, it’s $248.91 we could use for anything we wanted. (As it happens, we chose to use that money to accelerate our mortgage payments.)
Note: Sierra Black gave us a guest post on this subject in September when she described how she and her husband are sweating the big stuff. They made a big change that saved them [...]

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