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December Mortgage Payoff Status

January 7, 2013

It’s been a crazy holiday season!  The past week and a half has afforded me NO time to blog between working like crazy, and spending time with family and friends.  I just realized that I never posted our December mortgage payoff status!

If you are new to this blog, this is our visual aid for our mortgage payoff.  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.

In the beginning: June 2011

Mortgage payoff

November 2012

Mortgage payoff

December 2012: 2 pieces removed!!!

Mortgage payoff

Mortgage is 61% paid off!!!!! We were able to make some major budget cuts in order to take two pieces off last month. As Vice-president of the budget committee, I’m pretty stoked. It feels awesome to see the light at the end of the tunnel. I have saved $100 of my recreation money from last month, surpassing my goal of $60.

Goals for next month: Take another two pieces off and save at least $50 of my recreation money for a total of $150.

Questions for you: Thinking of paying off debt?  Already paid off debt?  I would love to hear about it.

Thanks for reading!!


8 Comments leave one →
  1. January 7, 2013 9:07 am

    That’s awesome! Before you know I you can join us in the mortgage free club. How much do you put extra towards your mortgage in % each month? Our year will be all about investing and catching up with retirement funds and renovating the house.

  2. John S @ Frugal Rules permalink
    January 7, 2013 9:49 am

    61% is awesome! Plus, you got to take two pieces off. We’re no where near that amount, but that’s ok with us as it’s our only debt.

  3. January 7, 2013 11:03 am

    We’re working on paying down our mortgage, too. I find it strangely addicting to send in that extra check, whatever the size, each month. We are maxing out retirement funds and putting some $$ in 529s, but then all extra money is going towards the mortgage.

  4. January 7, 2013 1:18 pm

    Congratulations!!! 61% is awesome!

  5. January 7, 2013 8:41 pm

    61% paid off!!!! You guys are doing great! I’m slightly jealous of your mortgage payoff progress 🙂 How long have you been in the place?

  6. January 8, 2013 4:42 am

    I love your mortgage payoff visual aid. We have a sheet of paper for ours. We started it when we still owed $140,000 and the paper has 140 squares. We color one in each time we pay off $1000.
    Great job!

    • January 11, 2013 1:23 pm

      Nice Idea!! Did you design the paper to look like a house? I’ve seen some where the paper looks like the debt that is being paid off, ie. home, car, student loan… Any visual aid will definitely help out!

  7. January 11, 2013 1:22 pm

    Awesome Job! Keep kicking that Debt to the ground!

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