Our mortgage is our only debt, and we're trying to chip away at this as much as possible while still putting money in our IRAs ($5000 each per year).
This month we put $210 toward the mortgage principal: $150 savings (budgeted) and $60 which I got for teaching at the gym.
We've paid $2053 in additional principal so far this year. At the beginning of the year we owed $79,141 and we now owe $73,634.
If we don't make any more principal payments ever again on the loan, it'll be paid off in August 2020. If I just continue to pay $150/month extra, it'll be paid off in October 2019 (which would coincide with my 53rd birthday. But our goal is to pay this off sooner, so every snowflake, ebay sale, swagbucks reward, pinecone reward, craigslist sale, etc. goes toward the mortgage.
I want to note that I make $$43,800 a year and my husband makes $45,000 (gross, not including small jobs on the side when we can). We pay about $14,000 per year for private school.
Mortgage Update
April 8th, 2014 at 05:24 pm
April 8th, 2014 at 07:43 pm 1396986232
April 8th, 2014 at 09:24 pm 1396992263
April 8th, 2014 at 11:48 pm 1397000899
April 9th, 2014 at 01:18 am 1397006328
April 9th, 2014 at 01:57 am 1397008650