Samantha's goals

RICKLEE · **Posted:** Sat Sep 29, 2012 6:28 pm

Samantha wrote:

Well, we did it!

Current Mortgage Balance: $84,722!

And we had our anniversary dinner last night at the famous french restaurant -- it was amazing. We spent almost $200, but it was hands down the best dinner we've ever had. All of my favorite things: goat cheese, scallops, wine and chocolate!!

And we could have spent MUCH more: there was a caviar appetizer for $125, and the most expensive bottle of wine was $5,600. Yes. Five THOUSAND.

Anyway... we have taken a look around and now we are looking ahead! As of today, we have $20,000 in cash between our emergency fund and various sinking funds, and $32,000 saved for retirement. (I know... pitiful!) After we pay off the mortgage, our goal is to max out all retirement options and then beef up our sinking funds: the "Car Replacement" and "Home Repairs" funds are both woefully inadequate right now. As we make short-term sacrifices, we have been putting off things that need done, like an upgrade to our home's electricity.

Samantha, I think it's a great idea to celebrate milestones, even financial ones. As somebody who also enjoys French cooking and wine, what you did is something I liked to do as we chipped away at the mortgage. When we were mortgage free, to celebrate I invited some friends to join my wife and I for a fine meal and a bottle of Chateau Latour, which was a big indulgence but memorable to this day...

Samantha · **Joined:** Fri Aug 22, 2008 11:10 am **Posts:** 192

Current Mortgage Balance: $81,924.

Not very exciting, I know. And we are really going to have to be super focused if we're going to get to $75,000 by the end of the year. If we don't hit $75k, there is no way we'll be able to get to the halfway point ($68,500) in March. I am sooo excited - our reward for hitting that milestone will be revitalizing the front of the house. New front door, new mailbox. Landscaping and getting rid of the crumbling front steps.

If the Holidays don't bankrupt us, haha!

CecilyC · **Joined:** Fri Jul 10, 2009 6:57 am **Posts:** 319

Good luck staying on target! Exciting to see those numbers drop, isn't it?

I like the idea of a reward for hitting certain milestones. Hmmm, let's see....how can I apply this? Now you've got me thinking!

CecilyC

Samantha · **Joined:** Fri Aug 22, 2008 11:10 am **Posts:** 192

Cecily - we've had built in rewards throughout this process. We went out for dinner when we paid off a debt (that was back when we were not going out to eat, and were paying off a bill every 3 months or so). We had a beautiful wedding and honeymoon after we saved up our EF (lol). And now we buy ourselves material things or experiences we had been putting off while paying off the mortgage. Like a new dress, a yoga membership, etc. For DH, its been a new laptop, and tools here and there. We have to be very intentional about these things, and have wanted them for a long time. My whole motivation for paying off the house so intensely is the long trip to Asia we are taking in 2015 after the house is paid for!

Samantha · **Joined:** Fri Aug 22, 2008 11:10 am **Posts:** 192

Current Mortgage Balance: $78,966.

What a difference a week can make! November is the month of three paychecks for me, so we were able to throw my entire check (with overtime, woot!) to the mortgage. I also got the final payment from a client in my part-time consultant business. That plus DH's regularly schedule payment for the 5th, and we have dropped almost $3k in a week. HOLY CRAP.

I can't believe this kind of money was once just slipping through our fingers. $4k more by New Year's and we're going to go to our favorite Indian place.

alohabear · **Joined:** Tue Jun 12, 2012 4:34 pm **Posts:** 167

That is awesome, Samantha! WTG!

peachy · **Posted:** Tue Nov 06, 2012 3:55 pm

That is amazing! Keep up the good work!

CecilyC · **Joined:** Fri Jul 10, 2009 6:57 am **Posts:** 319

Feels great to watch that number drop, doesn't it!!! I'll be cheering you on with admiration and envy...

CecilyC

Samantha · **Joined:** Fri Aug 22, 2008 11:10 am **Posts:** 192

Thanks everyone! Cecily - we may just catch up to you yet!

CecilyC · **Joined:** Fri Jul 10, 2009 6:57 am **Posts:** 319

Samantha wrote:

Thanks everyone! Cecily - we may just catch up to you yet!

At 3K a month, it'll only take you about a year! But we're both still lagging behind peachy...

peachy · **Posted:** Thu Nov 08, 2012 2:13 pm

Oh, I'm just chugging along, but I love this success story so far. It may actually kick me into a higher gear, but I'll patiently wait (as I bite my nails until the next update).

sandrark · **Joined:** Sat Oct 20, 2012 7:20 pm **Posts:** 22

Love reading the progress, Samantha!

sandrark (formerly sandi_k, locked out under old name for some reason)...

Samantha · **Joined:** Fri Aug 22, 2008 11:10 am **Posts:** 192

Ok guys.... here goes!

Current Mortgage Balance: $76, 878

We paid over $5,000 on the mortgage this month. That is usually about what we take home each month, so this is a BIG HAIRY DEAL for us.

Definitely we can hit our stretch goal of $75k by the end of 2012. And that puts us right on track to make it to half of the mortgage in March! So excited.

We even talked about ways we could continue the momentum. We do have more to sell on eBay, and we're working on homemade Christmas gifts and treats (those are more appreciated than the cheap plastic stuff anyway!). I'm LOVING my new job, and the overtime money is not hurting that one bit

Can we keep it up? Not go on a vacation for two more years? Stay tuned, haha!

N2Deep · **Posted:** Sun Dec 23, 2012 7:07 pm

I think your motivated enough to forgo the vacation...especially seeing how fast the mortgage is dropping.

Keep up the good work

Samantha · **Joined:** Fri Aug 22, 2008 11:10 am **Posts:** 192

So as is typical in life: good news and not-so-good news.

Good news first: $74,347!

Not-so-good news: The car we got when mine gave up the proverbial ghost last May is sort of sputtering and things, not to mention its 19 years old. We've managed to save $6k towards a new to us car and we have decided to drop it all on a used Honda sometime in the very near future.

While its good that we will have more reliable transportation, in my mind that's just $6,000 that cannot be put toward the mortgage. Which means another three months or so in bondage to the bank.

Samantha's goals

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