Announcement

Collapse
No announcement yet.

House Mortgage -- Countdown

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Originally posted by Randomsaver View Post
    House Mortgage Debt . . . count it down.

    I've a long waaaaaays to go . . 10 years including this year is my target.

    Mortgage Principal : $207K
    I've a long waaaaays to go . . 8 years starting Jan 1, 2016.
    Kill the debt, before it kills you!

    Comment


      Originally posted by Randomsaver View Post
      Mortgage Principal : $153K

      Closing the year's books. Everybody give yourselves a pat on the back for another year of payment stricken off the mortgage.

      Merry Christmas to y'all!
      Great job - looks like 40k reduction to principal in one year!!

      Merry Christmas

      Comment


        Originally posted by Jluke View Post
        Great job - looks like 40k reduction to principal in one year!!

        Merry Christmas
        Thanks. If only it were so. That $207K balance was from 2 years ago post.
        Kill the debt, before it kills you!

        Comment


          Originally posted by Randomsaver View Post
          Focused Debt : $19K
          Happy New Year!!

          Kicking it off a bit early.

          Focused Debt : $17K
          Kill the debt, before it kills you!

          Comment


            Good job! I think you'll find this will go faster as income will increase allowing for some to be added to principal direct pay down. Just focussing on it has made a huge difference already...don't you think?

            Comment


              Since I'm doing my year-end financial stuff, I figured I'd update my number on this thread. As of 12/31/15 we are at $43,324.90.
              Steve

              * Despite the high cost of living, it remains very popular.
              * Why should I pay for my daughter's education when she already knows everything?
              * There are no shortcuts to anywhere worth going.

              Comment


                Originally posted by snafu View Post
                Good job! I think you'll find this will go faster as income will increase allowing for some to be added to principal direct pay down. Just focussing on it has made a huge difference already...don't you think?
                Definitely and hopefully. The partitioning to a smaller amount definitely helped me psychologically. Waking up and thinking I'm only going to pay $17K this year in debt is way better than waking up with hundred thousands of dollars in debt. I feel like I'm beginning to regain my sanity though I'm not there yet.

                The good vibes in this thread is what is helping me get through and I want to thank all for your words of encouragement and cheering.
                Kill the debt, before it kills you!

                Comment


                  Originally posted by disneysteve View Post
                  Since I'm doing my year-end financial stuff, I figured I'd update my number on this thread. As of 12/31/15 we are at $43,324.90.
                  Great news! We are a little less ($31.5k) on our 15 year, and with the end in sight, we are tempted to pay it off early. But that would not be wise, so we just wait and look forward to payoff day.

                  Comment


                    Originally posted by Randomsaver View Post
                    Happy New Year!!

                    Kicking it off a bit early.

                    Focused Debt : $17K
                    Focused Debt : $16K
                    Kill the debt, before it kills you!

                    Comment


                      Originally posted by Randomsaver View Post
                      Focused Debt : $16K
                      What is "Focused Debt"? (Google wasn't any help.)

                      Comment


                        Van: $4,800 (Matures Novem. this year)
                        House: $16,265 (Matures April 2020)

                        Comment


                          Originally posted by Nutria View Post
                          What is "Focused Debt"? (Google wasn't any help.)
                          It's my own concoction. It's a portion of my mortgage principal that I wish to focus on to keep me sane as opposed to facing the entire big amount.
                          Kill the debt, before it kills you!

                          Comment


                            Originally posted by Nutria View Post
                            Van: $4,800 (Matures Novem. this year)
                            House: $16,265 (Matures April 2020)
                            You're almost done! Congrats!
                            Kill the debt, before it kills you!

                            Comment


                              Originally posted by Jluke View Post
                              January 2016: $51,985
                              I made my February payment; $2000 instead of the planned $1200; so $1100 extra.

                              February 2016: $50,109

                              Not sure yet what I'll do for March payment... or beyond. I can't seem to stick to a plan.

                              Comment


                                Originally posted by Jluke View Post
                                I made my February payment; $2000 instead of the planned $1200; so $1100 extra.


                                Not sure yet what I'll do for March payment... or beyond. I can't seem to stick to a plan.
                                Create a spreadsheet with 12 tabs. The columns are what you're saving for: medical expenses, vacation, car repair, "unstructured", semi-annual auto insurance, tuition, property taxes, e-fund, etc. Mine has nineteen columns! The top cell of each row should be carry-over from the previous month.

                                Then enter additions and deductions to each virtual savings account. (Make sure the sums match your real savings accounts!!! )

                                At the bottom, sum up the carried forward balance and all monthly changes.

                                Since you know how much you save every month, know (approximately) when you're going on vacation, how much auto insurance is, etc, you can plug estimated expenses in July for vacation, December for Christmas gifts, etc.

                                Thus, you'll have a "black and white" forecast of your financial situation on which you can hang a solid plan.

                                This -- and a similar spreadsheet I use as a forward looking check register -- has been a real boon to our financial stability.

                                Comment

                                Working...
                                X