Starting Now

So today I wrote a letter to my mortgage company asking them to up my payments on  my mortgage to increase what I pay off on the principle owing. Today was my first step in the right direction and I am excited to be on my way to paying off my mortgage sooner. I want to be worry free, debt free and not owe anyone else any money. That is my ultimate goal, to be self sufficient, be financially free and live my life to the fullest with  money to spare.

On top of what I am paying extra on my mortgage I will be putting any additional big money that I come into on my mortgage as well. I can't stress enough how important it is to pay off your mortgage sooner rather then later. Just by upping my payments an extra $115 per month I will be paying my mortgage down 4 years sooner and saving over $40,000 in interest  costs. That is a lot of money and I want to keep it where it belongs....in my pocket. I want to be able to take my kids on a family vacation once a year and with an extra $40,000 in my pocket over the course of the next 25 years there will be a good chance that I can.

I work hard for my money and I want to keep it to do things that I want to and not send it down a big dark black hole only to never see it again. I'm sure most of you feel the same way. Why should the big corporations have and take all your money? Why let them win?  Fight back by paying your mortgage off sooner and by being debt free. I'm not  saying put ALL of your extra income on your mortgage and not have a life for the next 25-30 years. That would just be silly. No, all you have to do is budget it into your monthly payments at a reasonable amount that you are comfortable with. Leave yourself with enough extra money to still have a life and to be able to go out once and awhile and really enjoy life to the fullest. I don't mean to sound cliche at all but save for a rainy day keeping in mind that you could still kick the bucket at anytime. It's all in moderation. You can't spend every single penny you have thinking you will die tomorrow, when you very well could live to 100. It's all about balance.

I hope that if you do own your own home and have a mortgage on it that you will consider paying it off earlier. For your own sake. Follow me as I pay off my mortgage years at a time and hopefully reach my goal of paying off my mortgage before I turn 40. That gives me exactly 12 years from now to do so. Every single extra penny I put down on my mortgage will help achieve this goal.

Please leave a comment and let me know if you've found ways to put extra money down on your mortgage, I'd love to hear from you.

Thanks for listening and happy saving!


Brie