I think it’s wise to keep each other in check and with my busy schedule, I don’t really have any one checking in on my new year resolutions. So for me writing in this blog keeps me hoping it helps to keep me on track. We started out this month deciding we were going to get rid of our mortgage in 2012. This will be no easy feat since we still owe more than half of the mortgage, but the thought of having no mortgage is such a wonderful dream – that we can hopefully make a reality. Our association fees for the townhouse are some of the lowest in Charlotte – next to being free. That fee coupled with our recently reduced taxes, we’ll be paying less than $250 a month to live here. Now you can see how much of a dream that would be:) I haven’t had a “rent” payment that low since I lived at home with my parents – I must note, they were very generous and didn’t charge me rent:)
We decided to make a large lump sum payment on the principal, which ended up being 2 different large lump sum payments, with a 3rd next week. We had a few extra bills come in from Christmas, traveling and work trips and we just wanted to make sure that there was enough money in our checking to cover everything.
The next big change we made was adding an extra $900 a month on the principal automatically withdrawn every month with our normal mortgage payment. We were already contributing $100 per month in addition to our mortgage payment – so this will give us a grand total of $1000 extra to pay down that nasty debt.
And finally, the third thing we will do is any extra money we make – from my consulting – will go directly to the mortgage. I have one definitely job starting in February for a bridal shop in Cincinnati, OH and I couldn’t be more excited for this creative outlet. Another bridal shop in Atlanta recently contacted me, as well as, a local yoga studio.
Hurray for 2012! I’ll be checking in shortly to keep you all updated.
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AboutRachel Merchand Abplanalp
I am ProLife, a defender of the Creator of the Universe, a lover of Nathan, a photographer, a web developer, a musician, a friend. I love life & I love you.
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