Debt Reduction, Mortgage

First Extra Principal Payment Has Been Sent

A few days ago, I made my very first mortgage payment.  It felt so good, today, when I logged on to our mortgage company’s website and saw that the payment has posted.  It felt not-so-good to see just how much of our payment was applied to interest – and how little was applied to principal. If I continue to make our mortgage payment, as scheduled, we’ll own our home in 15 years.  Each month, as we slowly chip away, a little more will be applied to principal and a little less will be go towards interest.  My goal?  To speed up that process – so that I can pay off the mortgage in less than 15 years.  Every extra dollar…

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Banking

Automated And It Feels So Good

I’ve always resisted fully automating our finances.  Recently, however, I’ve had a change of heart.  Now, not only are most of our monthly bills paid online, but I’ve also automated deposits for savings, and payments towards our mortgage. We have a power bill, a telephone bill, a satellite bill, and a cellphone bill.  Each of these is delivered electronically, via email.  The only “paper” bill that we receive is the one from our local water department.  With online and instant access to our accounts, it’s extremely easy to pay bills, check current balances, and keep things organized.  As the bills arrive in my inbox, I look them over, make sure that everything looks to be in order, and make payments…

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Frugality

Are You “Over” Spending?

Have you gotten to the point where you are “over” spending – as in -you just don’t feel like buying “stuff” anymore? There was a time when I wanted “stuff” – a nicer car, a bigger television, a newer computer, but now I’m “over” that stage in my life.  Seriously.  I just want to enjoy the “stuff” I already have, hang out with my family, and live life. It’s funny how, over-time, our priorities change.  Even with our new home, we bought a few things – some new furniture for the den and some decorative items for around the house – but we didn’t go crazy.  In fact, one of our goals was to minimize the clutter.  We sold, gave…

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