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 Post subject: Passed the 50% mark on my mortgage!
PostPosted: Wed Mar 13, 2013 11:08 am 

Joined: Tue Jan 20, 2009 11:38 pm
Posts: 78
I posted here recently about being discouraged about how long the mortgage will take, but I hit a milestone so thought I'd celebrate it! (Celebrating the small victories will help me stay motivated, I think.)

After selling some stock and agonizing a bit, I sent in a large principal payment which has dropped my (principal) mortgage balance to 48%. I bought in July 2007 so it's been less than six years. Since then I've also fully funded my EF, paid off a car and bought another car (paid off), gotten married, and changed jobs. That last item, along with becoming a GRS reader, have been the main reasons for my mortgage success. GRS convinced me to make my financial health a priority, and the new job resulted in a signing bonus, stock, and other bonuses, a good portion of which have gone straight to the mortgage principal.

Based on some other life decisions in the works, this pay-down pace may not continue, but I'm beginning to see the light at the end of the tunnel (granted, it's very faint at this point).

Looking back, my positive financial momentum started when I stopped feeling sorry for myself and saying "I can't do that" or "that advice doesn't apply to me." Pre-GRS I was making less than half what I am now, had CC debt, and didn't really want to hear any advice or change my daily habits. I didn't see how small things added up. Yes, the new job has meant more money, but that wouldn't have made a difference to the mortgage if I hadn't changed my thinking first (which took time). It would have been very easy to spend the money on some extravagant trips, or just leave it in my checking account where it would "leak" out on who knows what. I think being honest with myself, acknowledging my flaws and weaknesses, and creating systems to counteract them, has improved the way I handle money. I still have a long way to go, but when I look back on how clueless I was when I bought this place, I can see what progress I've made, and not just on that principal balance number. :)

Thanks to everyone who contributes to this site. I don't read quite as much as I used to since JD left, but it's still a regular check-in for me, if only for old times' sake!


Last edited by Cely on Sat Mar 16, 2013 3:20 pm, edited 1 time in total.

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 Post subject: Re: Passed the 50% mark on my mortgage in less than six year
PostPosted: Wed Mar 13, 2013 1:35 pm 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
This post is fantastic!
Congratulations and keep up the good work. Stay motivated, and you'll stay happy. :)


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 Post subject: Re: Passed the 50% mark on my mortgage!
PostPosted: Tue Apr 09, 2013 12:35 am 

Joined: Mon Mar 25, 2013 6:49 pm
Posts: 33
great job cely! keep up the good work!

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 Post subject: Re: Passed the 50% mark on my mortgage!
PostPosted: Thu Apr 11, 2013 11:04 am 

Joined: Mon Apr 25, 2011 7:37 am
Posts: 446
Congratulations! It is great to see someone focus on a goal, and see the progress that can happen. :clap:


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 Post subject: Re: Passed the 50% mark on my mortgage!
PostPosted: Sun Apr 14, 2013 4:39 am 

Joined: Sat Dec 10, 2011 7:25 am
Posts: 777
Cely

You've discovered the secret- it isnt how much you make - its how much you manage to hang on to. Keep up with the savings - good things wii come of it.

RayinPenn

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“If you tell the truth, you don't have to remember anything.”
― Mark Twain


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