Made the usual mortgage payment this month plus a smidge extra that was really for rounding purposes (to make writing a check easier).
I will be doing this for most, if not all of 2018. Extra amounts will be put to the side and used to pay off mortgage in December or early 2019.
It is so nice to see that I am almost at the 50% payoff mark :-)
The KILL My Mortgage page has been fully updated now.
Pru
Showing posts with label mortgage. Show all posts
Showing posts with label mortgage. Show all posts
Saturday, February 3, 2018
Sunday, February 26, 2017
Still here, still plugging along
Hard to believe it has been a month!
The days have been running into each other and the weekends are barely non-existent. Been dealing with *stuff* at home (ugh flatmate), at work (double ugh), in personal life (triple ugh).
And let's not even talk about what is going on in the U.S. right now. Stress, lack of sleep, stress, panic and so on. Yup definitely a conservative snowflake living at this blog who still thinks Trump supporters are morons and questions what will happen to the true values of this country (not to mention what will happen to our constitution).
So where am I?
Well I am definitely feeling like my apartment owns me and it likes to crack the whip and keep me up at night. The sooner I pay off this place, the sooner I will feel free.
But I am still plugging along and still making progress on my financial goals. I have made my transfers to savings accounts in January and February, overpaid my mortgage in both months, and made a few share purchases. (Will update the blog pages next weekend (covering both January and February).)
What is this world coming to? Pru still wonders....
Hope everyone is doing well!
Pru
The days have been running into each other and the weekends are barely non-existent. Been dealing with *stuff* at home (ugh flatmate), at work (double ugh), in personal life (triple ugh).
And let's not even talk about what is going on in the U.S. right now. Stress, lack of sleep, stress, panic and so on. Yup definitely a conservative snowflake living at this blog who still thinks Trump supporters are morons and questions what will happen to the true values of this country (not to mention what will happen to our constitution).
So where am I?
Well I am definitely feeling like my apartment owns me and it likes to crack the whip and keep me up at night. The sooner I pay off this place, the sooner I will feel free.
But I am still plugging along and still making progress on my financial goals. I have made my transfers to savings accounts in January and February, overpaid my mortgage in both months, and made a few share purchases. (Will update the blog pages next weekend (covering both January and February).)
What is this world coming to? Pru still wonders....
Hope everyone is doing well!
Pru
Sunday, June 26, 2016
6th Mortgage Over-Payment Made (114 remaining)
Last week I made my sixth over-payment of 0.46%. This is an increase from the usual 0.20% since I decided to take a bit of my bonus and put it towards the mortgage.
This extra amount should help me to reach this year's goal of a 3% over-payment. In fact for the first half of 2016, I have over-paid by about 1.77% so more than half way to my goal. This is good because I am not expecting to get any *extra* money coming my way for the rest of the year.
Happily my interest payment is now below another $100-threshold. It is so nice to see that declining each month. (I honestly did a happy dance when my principal payment became higher than my interest payment about 2 years ago.) It doesn't move much each month but every single dollar is a mini-happy dance!
The KILL My Mortgage!!! page is updated.
Pru
This extra amount should help me to reach this year's goal of a 3% over-payment. In fact for the first half of 2016, I have over-paid by about 1.77% so more than half way to my goal. This is good because I am not expecting to get any *extra* money coming my way for the rest of the year.
Happily my interest payment is now below another $100-threshold. It is so nice to see that declining each month. (I honestly did a happy dance when my principal payment became higher than my interest payment about 2 years ago.) It doesn't move much each month but every single dollar is a mini-happy dance!
The KILL My Mortgage!!! page is updated.
Pru
Sunday, April 24, 2016
4th Mortgage Over-Payment Made (116 remaining)
This past week I made an over-payment of 0.51%. This is an increase from the usual 0.20% over-payment due to my getting a tax refund.
My goal for this year is a 3% over-payment. I have zero idea how I calculated that 3% and now am not sure if it was to be a "stretch" goal for myself. I calculated a specific dollar amount per month for over-payment including the month with a tax refund to get to paying off the mortgage by Dec 2025. That annual amount of over-payments, however, does not equal 3%.
Oh well. I put it out there so now I need to attempt to achieve it!
Also, my regular payment for the month is 0.26% marginally increased from 0.25% but definitely a good sign as the amount applied to principal increases while that applied to interest decreases :-)
Pru
My goal for this year is a 3% over-payment. I have zero idea how I calculated that 3% and now am not sure if it was to be a "stretch" goal for myself. I calculated a specific dollar amount per month for over-payment including the month with a tax refund to get to paying off the mortgage by Dec 2025. That annual amount of over-payments, however, does not equal 3%.
Oh well. I put it out there so now I need to attempt to achieve it!
Also, my regular payment for the month is 0.26% marginally increased from 0.25% but definitely a good sign as the amount applied to principal increases while that applied to interest decreases :-)
Pru
Sunday, March 27, 2016
3rd Mortgage Over-Payment Made (117 remaining)
Early last week I made an over-payment of 0.20% of the mortgage. Still on track for my 2016 goal which is to overpay the mortgage by 3%. My taxes have been submitted and hopefully the refund will come next month and I'll be able to put a bit more towards the mortgage overpayment.
There are definitely times when it is hard to make this overpayment. I've been doing it for over 3 years now and it does get old fast especially when the horizon is very, very far away. But I think reducing my mortgage overpayment a bit (adjusting it to send the other monies to investments) has helped. I don't feel as though all my money is inaccessible. Yet I still feel like I'm making *some* progress.
Of course if I won the lottery tomorrow, I'd pay it all off in one big swoooooooop! :-)
Pru
There are definitely times when it is hard to make this overpayment. I've been doing it for over 3 years now and it does get old fast especially when the horizon is very, very far away. But I think reducing my mortgage overpayment a bit (adjusting it to send the other monies to investments) has helped. I don't feel as though all my money is inaccessible. Yet I still feel like I'm making *some* progress.
Of course if I won the lottery tomorrow, I'd pay it all off in one big swoooooooop! :-)
Pru
Saturday, February 20, 2016
2nd Mortgage Over-Payment Made (118 remaining)
Similar to last month, I made an over-payment of 0.20% of the mortgage. It's tiny but it does add up!
2016's goal is to overpay the mortgage by 3%. I'm on track to achieve this as I will be overpaying by about 0.19% to 0.20% each month and then I will put part of my tax return towards the mortgage to get me to the 3%.
The KILL My Mortgage!!! Page has been updated.
Pru
2016's goal is to overpay the mortgage by 3%. I'm on track to achieve this as I will be overpaying by about 0.19% to 0.20% each month and then I will put part of my tax return towards the mortgage to get me to the 3%.
The KILL My Mortgage!!! Page has been updated.
Pru
Saturday, January 30, 2016
1st Mortgage Over-Payment Made (119 remaining)
I tend to calculate my mortgage information in percentages. Mortgages vary depending on region and I live in a higher cost of living area. The mortgage was high when I first bought my apartment but now it is at a semi-reasonable spot. (Well at least I have enough in assets, albeit retirement assets, to pay it off if I had to.) In any case, percentages allow for a more apples-to-apples comparison amongst those seeking to payoff their mortgage early.
This month's over-payment equated to 0.20% of the mortgage. It's tiny but it does add up!
2016's goal is to overpay the mortgage by 3%. I'm on track to achieve this as I will be overpaying by about 0.19% to 0.20% each month and then I will put part of my tax return towards the mortgage to get me to the 3%.
KILL My Mortgage!!! Page has been updated.
Pru
This month's over-payment equated to 0.20% of the mortgage. It's tiny but it does add up!
2016's goal is to overpay the mortgage by 3%. I'm on track to achieve this as I will be overpaying by about 0.19% to 0.20% each month and then I will put part of my tax return towards the mortgage to get me to the 3%.
KILL My Mortgage!!! Page has been updated.
Pru
Sunday, January 24, 2016
First transfers...set up!
Today I have initiated a few transfers! It's a Sunday so nothing is happening today but at least they are in the works :-)
- $700 will be transferred to my Brokerage account. (A little more than I expected but I had previously allocated $200 from my 12/31 paycheck without realizing it.)
- $55 will be transferred to my Rewire savings account.
- $55 will be transferred to my G2H-FU savings account.
- $210 will be transferred to my 2nd Home savings account.
Those transfers mean that I'm on track for 2016 goals!
I have also written my mortgage payment and have put in the allocated extra over-payment. Goal is 3% over-payment in 2016 and this month's extra amount equates to 0.20%. It's a start!
Next weekend when I have a bit of time, I will update all relevant pages and will add some trackers to the site.
On my way!
Pru
- $700 will be transferred to my Brokerage account. (A little more than I expected but I had previously allocated $200 from my 12/31 paycheck without realizing it.)
- $55 will be transferred to my Rewire savings account.
- $55 will be transferred to my G2H-FU savings account.
- $210 will be transferred to my 2nd Home savings account.
Those transfers mean that I'm on track for 2016 goals!
I have also written my mortgage payment and have put in the allocated extra over-payment. Goal is 3% over-payment in 2016 and this month's extra amount equates to 0.20%. It's a start!
Next weekend when I have a bit of time, I will update all relevant pages and will add some trackers to the site.
On my way!
Pru
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