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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Mon Apr 16, 2012 2:39 pm 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 378
Happy taxmageddon, everybody.

Made the second prepayment this month to drop the balance to $61,560. Next month, if all goes as planned, will be the last month I ever have a balance in the sixty thousandses!

Now if I could just stop shopping...not sure how this crept back into my psyche, but boy, is it hard to shake.


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Fri Apr 20, 2012 3:34 pm 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5398
CecilyC wrote:
... (alas, nonrefundable) plane tix ...


You do realize I hope that "nonrefundable" does not mean you'll need to buy new tickets. You can almost always change them to a new date in the future. Normally they'll charge you a change fee but that's all.


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Mon Apr 23, 2012 1:02 pm 

Joined: Mon Apr 25, 2011 7:37 am
Posts: 446
Sometimes when it rains it pours (with expenses seems to be so). But you are making steady positive measurable progress, and should feel good about that! Our mortgage got down to 58.5 K or so before we refinanced (to complete efund and also fund house projects) and you will soon beat that number!
My desires for purchasing right now are patio chairs and new doors for the house. And of course clothes. I have a couple gift cards burning a hole in my pocket...


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Wed May 02, 2012 3:18 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 378
Thank you, bucking-up brigade! I think the big trick will be to return to my habit of just automatically recycling all catalogs without looking at them. I am obviously not proof against temptation.

Well, on to mortgage-related matters. After the regular payment, my balance stands this morning at $61,345.61; after the prepayment goes through, it will be $61,120. Say your prayers, sixty-one thousandses...


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Wed May 02, 2012 8:00 am 

Joined: Mon Jan 11, 2010 9:06 am
Posts: 160
Location: Texas
This journal sooo makes me look forward to moving in a few years and being in a house where it makes sense to start my mortgage burning.

Keep up the great work!


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Wed May 02, 2012 9:31 pm 

Joined: Mon Aug 08, 2011 9:13 pm
Posts: 182
Location: Brisbane, Australia
CecilyC wrote:
I think the big trick will be to return to my habit of just automatically recycling all catalogs without looking at them. I am obviously not proof against temptation.

We just have a "No Junk Mail" notice on our mail box. Works a charm at keeping the catalogues away. Saved me a fortune over the years.


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Wed May 16, 2012 7:16 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 378
Halfway through May and I seem to have more travel plans than ever before. It'll be a busy summer, that's for sure. And I think I'm going to get myself back to saving incrementally for all goals simultaneously. Trying to put big numbers towards one goal at a time makes it too easy to think I have a lot of money in my bank account. I do better at saving when I think I am broke! It was an experiment, and now I know what works and doesn't work.

Meanwhile, still plugging away at the mortgage balance. Made the second monthly prepayment today to push the balance down to $60,780. Also, I have officially crossed into new territory: from now on, the principal part of my regular payment will always be more than the interest! Woohoo! :clap:


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Sat Jun 02, 2012 3:43 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 378
Summer is finally here, and I keep hoping that things will slow down, but right now life just seems to be one darn thing after another, financially and otherwise. Oh, well. At least I am not bored. And I have mostly stopped shopping. :tmi:

I swapped my automatic deposits around so as to put myself back on the snowflake-to many-goals-simultaneously plan. This month I wipe out residual emergency (and, um, other :oops: ) debt on the CC; next month the withdrawals begin, spread amongst the usual savings targets.

One fun thing to look forward to: this month I should break through the 60K mark!!!! :party: The regular payment lowered the balance to $60,582.84, and the first prepayment (which I made this morning) should push it down to $60,337.84. The second prepayment should shatter that 60K point like Julie Andrews singing a high C to blow apart a wineglass in "Victor/Victoria.". Woo hoo!!!!


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Jun 19, 2012 3:43 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 378
The second prepayment of the month has processed, for a new balance of ...

...drumroll, please...

$59,997.84!!!

:D :D :D :D :D :D :D :D


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Jun 19, 2012 6:13 am 

Joined: Thu Apr 05, 2007 3:05 pm
Posts: 1356
http://www.youtube.com/watch?v=f_P6co4aTik

(that's a link to Julie Andrews shattering the wine glass)


Last edited by brad on Tue Jun 19, 2012 2:35 pm, edited 1 time in total.

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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Jun 19, 2012 7:03 am 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 961
CecilyC wrote:
The second prepayment of the month has processed, for a new balance of ...

...drumroll, please...

$59,997.84!!!

:D :D :D :D :D :D :D :D



Wow! Your progress is amazing! Gosh almost inspired to buy a house......

_________________
Be what you want to attract.


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Jun 19, 2012 10:51 am 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
wheee! way to go, you're clearly kicking this mortgage's butt even with all the other stuff going on around you!


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Jun 19, 2012 12:55 pm 

Joined: Sat Jun 16, 2012 2:11 am
Posts: 192
From $80.200 to $60.000 in 23 months. Great work! With 5% interest rate you will need to pay about $985 a month (anuity) and you will be rid of the mortgage this time a year 2018.

Keep at it!


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Jun 19, 2012 2:23 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
Legendary. Well done. You are so 8)


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 Post subject: Re: GOAL: burn the mortgage ($78,491.72) by 2018
PostPosted: Tue Jul 03, 2012 1:09 pm 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 378
Early happy Fourth to my compatriots! Here's to our pursuit of Financial Independence...

The first extra payment of the fifty-thousandses has been made! Along with the regular payment, this will push the balance down to $59,550. This will be one of those months where the thousand-number does not change, but you have to have one of those every once in a while. The glow of breaking the 60K barrier will keep me going in the meantime!


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