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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Thu Jan 24, 2013 9:15 am 

Joined: Tue Jun 30, 2009 9:44 pm
Posts: 286
Location: Atlanta, Georgia
Panda wrote:
If you don't want to go that far, set up a shopping folder and auto-file into it. I've done this. The ads/coupons are there for when I decide I need something, but I don't see them in my inbox and let them decide for me that I need something.

Though I've never really been much of a shopper, I found that I ordered things a little more frequently when I got the e-mail ads/coupons delivered straight to my inbox. I made the same change as Panda and now find that I almost never even look in that e-mail folder. Only when Christmas came around, I went in there and found what I needed.


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Fri Jan 25, 2013 3:48 pm 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 374
Right-O! Email subscriptions have been canceled. I thought about doing the special folder thing, but I'm too lazy. Besides, these offers usually expire quickly, so I doubt I'd be looking them up again later.

Final monthly update on "debts":

quick draw efund: $796 to go
big backup debt: $3390 to go
car fund: $3445 to go
travel/xmas: $2750 to go

Made all my targets, but am feeling the pinch a bit in my daily spending. You know, I just looked back at my posts for last January, and I think I tried the same thing last year too: extreme austerity/ down-to-the penny budgeting in pursuit of ambitious new goals. I don't leave myself quite enough elbow room for unanticipated or fun stuff. Hmmm. Pattern, anyone? :facepalm:


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Mon Feb 04, 2013 2:47 pm 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 374
Groundhog day has come and gone, and apparently the little fellow didn't see a shadow. Bring on an early spring, I say!

Meanwhile I am gnawing away at the mortgage and other plans. The regular payment went through to lower the balance to $54,160.25, and I just made the first prepayment to push it down to $53,930. Also paid down the quick draw efund "debt" by another $265. Balance left to pay: $532. Hoping to be done with this after the first paycheck in April.

Inch by inch....


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Feb 05, 2013 4:51 am 

Joined: Wed Jan 30, 2013 6:05 pm
Posts: 4
Keep it up! Let me tell you what life is like when you don't have a mortgage, just for some positive reinforcement. WONDERFUL.
We have had no mortgage for three years. The carrying cost of our house is $625 per month in taxes and insurance and maintenance and a yard man. I got a yard man when the mortgage was paid off and invested the rest, which has already grown to well over $50,000 in three years.

Cost of housing

Property taxes $225
Insurance (home & flood) $250
Maintenance $75 into kitty
Yard $100

Not bad for living in a nice house. A 1 bedroom garage apartment rents for the same amount as the monthly carrying cost of our house.


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Sun Feb 10, 2013 1:41 pm 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 374
Yep, landslave, that's what I'm anticipating!

But first I have to conquer the clothing addiction. I slipped and looked at a catalog yesterday, and sure enough, there was a white top that would be a perfect plugin piece for spring, summer, and fall work - goes with both my skirts and my pants. aaauuuugh. Must...not...spend...


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Sun Feb 10, 2013 6:52 pm 

Joined: Fri Jul 29, 2011 8:38 am
Posts: 193
Last year, I put $20 per paycheck (biweekly) in an envelope to spend on clothes. Maybe you could try something like that? I'm just a little worried you're going to go binge shopping soon! :rofl:


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Thu Feb 21, 2013 7:18 pm 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 374
Fiddlefaddle, I may well do that at some point down the road, but I think I need to break the habit first. Still haven't bought anything. A month and 2/3 down!

The mortgage balance is down, too! It's now $53,560, and the bank thinks I will be done by October of 2026. That's a grand total of eight years taken off the mortgage so far! Of course, I have my sights set on getting to zero much sooner...


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Sun Feb 24, 2013 7:52 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 374
All right, final February update for all 2013 goals:

52-week challenge: $36 saved so far (week eight)
mortgage balance: $53,560

I.O.Me "debts":

quick draw: $530 to go
big backup: $3080 to go
car: $3295 to go
travel/xmas: $2500 to go

Looking forward to getting the quick draw "debt" to zero by early April! That will feel like a real milestone.

In other news, I bought tix to go visit the nephews; money for that purchase will come out of travel/xmas savings thus far and for next month (I hadn't quite anticipated going so soon, but I found a decent deal and it fit my schedule, so...)


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Sat Mar 16, 2013 11:05 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 374
Whew. I knew that things were extra super chaotic at work, but can you believe I forgot to post the first update for March???

OK, so...catching up. At the start of the month, the regular payment and the first prepayment went through for a balance of $53,086.69. I'm pressing the button now to send the second prepayment, to punch through downwards to the fifty-two thousandses. Hello, $52,716!!!

Meanwhile, I am chipping away at the I.O.Me numbers:

quick draw: $265 to go!!! should knock this out in early April.
big backup: $2750 to go
car: $3000 to go
travel/xmas: these funds were spent down to pay for the first trip out to Nephewland (later this month). Auto deposits, however, will continue!

Let's hope things settle down some at work so that I don't miss any more updates.

In other news, I recently received an inheritance-related windfall. It's sitting in the bank right now while I try to figure out what goals to put it towards. (Hybrid? House repairs? Travel fund for nephew visits?) And I still haven't filed my tax return -- this is late for me. Feeling a bit behind the 8-ball, here!


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Sun Mar 17, 2013 8:54 am 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
I'm late doing my taxes too, so you're not alone. I plan on doing mine also.
Inheritances are good and bad things, so sorry for your loss, but yay for some extra funds to do something with. Decisions, decisions (I say go with the hybrid!).

Don't stress out too much over work and keep posting! Happy St. Patty's Day!!


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Fri Mar 22, 2013 2:26 pm 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 959
CecilyC wrote:
All right, final February update for all 2013 goals:

52-week challenge: $36 saved so far (week eight)
mortgage balance: $53,560

I.O.Me "debts":

quick draw: $530 to go
big backup: $3080 to go
car: $3295 to go
travel/xmas: $2500 to go

Looking forward to getting the quick draw "debt" to zero by early April! That will feel like a real milestone.

In other news, I bought tix to go visit the nephews; money for that purchase will come out of travel/xmas savings thus far and for next month (I hadn't quite anticipated going so soon, but I found a decent deal and it fit my schedule, so...)

How's your savings going Cecily? I am still at it.

_________________
Be what you want to attract.


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Sat Mar 23, 2013 10:37 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 374
Fantasma, I am at week 12 for a total of $118. (I had a small surplus and decided to knock out the $52 week at the end of the year while I could!) How are you doing?

Sorry, I keep forgetting to track this in my monthly posts...


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Sat Mar 23, 2013 11:40 am 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 959
Still at it I am doing the monthly instead of the weekly and its the same thing. $91.00

_________________
Be what you want to attract.


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Apr 02, 2013 4:57 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 374
I almost put up an April Fool's Day post claiming to have paid off the mortgage with a lottery ticket....but managed to restrain myself. :D

Time for an update: the regular mortgage payment went through to bring the balance down to $52,470.28, and I just made the first prepayment to push it down to $52,200. Progress, progress. Looking forward to hammering through the floor down to the fifty-one thousandses later this month.

Making progress with the yearly goals, too!

Quickdraw e-fund: DONE! Got it to a full month's expenses. Woohoo! :party:
Big backup e-fund: DONE! Decided to use some of the windfall to knock that goal out. :party:

This means my 6-month emergency fund is now fully funded!! YAY!!! Planning to redirect the efund deposits towards the car fund. That leaves three goals for the year:

52-week challenge: currently at $143
travel/xmas: currently at $208 (building back up after the trip to nephewland, which was great!)
car fund: currently at $2158.

Need to file those taxes this week!! And I think I am going to use the rest of the windfall on the house. There is some maintenance that needs to be done -- and hey, maybe it's about time I fixed up the bathroom...


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Apr 02, 2013 5:13 am 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
Double, I mean, triple awesome!!
You are doing SO well. I continue to lose track of my weekly challenge because I don't write down what I'm supposed to put in each week, SO, I will start writing it down-HA!!HA!! I am so simple sometimes. I also haven't counted my stash, so who knows where I am at this point. I just throw 10 or 15 in when I think about it, but that's not really a challenge.

I know this is your update, but I feel like your financial twin, so I will post here. HA! I am about 5 paychecks from getting my 6 month efund..if I find some money, I can boost that, but I'm a slow and steady kind of girl, so there's no rush. I don't know what I'm going to do once that is funded. I have been paying in for what seems like forever.

My basement flooded at the end of Jan, and I had 500 deductible to pay, so I did use my efund (for once!), and now I have a BRAND NEW BASEMENT!! It's so nice.

Keep up the good work, chica. Spring is right around the corner. Time to celebrate the warm weather!!


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