Mortgage payoff status 8/2012
Mortgage payoff status for August 2012:
After doing some reviewing, it turns out that we didn’t start making extra principal payments until June of 2011, not April 2011. Every black piece represents a sum of money towards our debt. We take a piece off every time we reach the dollar value of a black piece.
This is where we started in June 2011:
This is where we were in July of 2012, we were able to take off two pieces:
In August of 2012, we were able to take off another two pieces and we have officially PAID OFF 51% OF OUR MORTGAGE SINCE LAST YEAR…..WOO HOO!!!!!!!!! Sorry it’s crooked, I just got so excited!
It feels so great to be 51% finished with our mortgage payoff! Pretty soon we will actually have a zero net-worth. Sounds crazy, but I’m super excited!!!!
Where has all my recreation money gone this month? I’ll tell you where:
That bad boy Wavestorm cost me $99 + tax and depleted my fun savings ;( I was thinking about buying one used, and probably should have spent time on Craigslist looking around for one. It was a hot day, my sister was in town, the money was there and we were at Costco….SOLD!
Fun savings vs. “Recreation” category, what’s the difference? Every month we budget an equal amount of money towards our “recreation” account, for example last month we gave each $50 in our “recreation” accounts. This means that we can spend the money however we want. I usually end up spending the money on food, as previously discussed I have a tendency to eat my “recreation” money. Husband will tend to keep the money and save it for something big, like another water toy. Our “fun savings” started because Husband has a Mammoth pass that he saves for all year long. I said “wait a second, what about me? Can we match that money into an account for me?” And voila the “fun savings” account was born, and every month it is matched dollar for dollar with how much we save for his Mammoth pass 😉
Questions for you: Do you buy things on impulse? Do you have an accountability partner for big expenses? Do you think a visual aid tool would be useful?
Thanks for stopping by! Have a great day!