While we have always been known for our frugalness, lately we’ve really gotten the bug to get completely debt free. We’ve never had a car payment and we’ve never really been big spenders (odd for two savers to marry) but our mortgage is starting to get on my nerves! So we’ve read all the blogs, all the articles, all the tricks, etc. Guess what? The fastest way to pay off your mortgage is to just pay all the principal. Ugh. Yep, it’s that simple. No tricks, no gimmicks. So I started with the obvious.
Look around the house and sell all that you don’t need.
I put a blue vase up on the fridge and whenever I get a few dollars from something, I put it in there and once a week or so, I make a deposit and make a payment! Just this month, we’ve managed to pay an extra $248 on the principal! That feels great when it’s one of those payments that moves the thousands digit.
I think one of the biggest motivators lately has been thinking of people we could help if we had our mortgage payment to ‘play’ with every month. I’d love to knock the socks off some waiter/waitress with a ridiculous tip. We could send more money to our missionary families we support. The possibilities are endless. What could you do if your mortgage was gone? It’s fun to think about.
The other cool thing is that my husband has jumped on the bandwagon and figured out that according to the average life span, he physically doesn’t have time to build all the model kits that he owns. *gasp*!! He’s been selling off those too! Woo hoo!
Keep is Simple,