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21

What i didn't spend..

submitted by MaryXmas to DebtFree 2.0 yearsJul 2, 2023 12:57:35 ago (+21/-0)     (DebtFree)

I would like a new car, but the old one runs fine. I want one of those blades you put on a weedwacker, a new shed, and a greenhouse. Instead of buying any of those, I put the money towards paying off my house.

If I spend $1000 on my mortgage, I save $500 in interest. This means for every dollar I spend on paying off my mortgage, I get an immediate 50% return, not to mention the years of my life back. Yes.


32 comments block

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[ - ] Portmanure 6 points 2.0 yearsJul 2, 2023 14:06:45 ago (+6/-0)

One strategy is to treat your 30 year mortgage as a 15 year mortgage. Use a mortgage calculator, compute your remaining principal and current interest rate for a 15 year loan. Build your budget around making that payment. In emergencies you can just make your standard 30 year mortgage payment but do your best to stay on the 15 year payment plan.

[ - ] MaryXmas [op] 4 points 2.0 yearsJul 2, 2023 16:15:40 ago (+4/-0)

I am already on a 15 and trying to pay it off in 5. This is great advice for others though!

[ - ] TheOriginal1Icemonkey 5 points 2.0 yearsJul 2, 2023 16:52:09 ago (+5/-0)

I am on a path to pay off my primary residence and two rental houses in seven years. All three. One at a time, going after the highest interest rate first. Two are at around 7% (recently purchased) and the primary is at 3.5. This will produce a savings of 750k in total interest not spent and will net $7,000 cash per month. On top of my salary, I’ll rake in around 12k per month.
At that point I may buy a new truck, cash. Until then, my F-150 with 300k miles is doing just fine. If it dies, I will reregister another older -F-150 I have and drive it until then.
No credit card debt. Use cards, pay them off every month. Take their points in actual checks/cash.
Life is good!

[ - ] MaryXmas [op] 4 points 2.0 yearsJul 2, 2023 16:59:29 ago (+4/-0)

If you hit a milestone, post about your success. Thanks for your contribution and keep up the good work!

[ - ] TheOriginal1Icemonkey 3 points 2.0 yearsJul 2, 2023 19:09:11 ago (+3/-0)

Well, the first milestone will be in two more years. In the meantime the wife and I are reaching out to others and helping them along the same path. A couple of these folks are youngtsters, another few of them our age.

[ - ] deleted 0 points 2.0 yearsJul 2, 2023 18:42:54 ago (+0/-0)

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[ - ] Kozel 5 points 2.0 yearsJul 2, 2023 13:58:15 ago (+5/-0)

Get a scythe its more efficient and once you realize that weed wackers just seem retarded like multi blade cartridges for shaving. https://www.youtube.com/watch?v=gsfIHiBB6xE

[ - ] MaryXmas [op] 2 points 2.0 yearsJul 2, 2023 16:20:14 ago (+2/-0)

I like them, and would totally get one. However, my current goal is to pay off any and all debt. If I don't really need it, I am using my money to pay off debt. My weedwacker will continue to underwhelm me for the time being.

I agree on the shaving cartridges. I have a shoe box full of DE blades, they are great and at only a few cents each, I can use a new blade every time I shave.

[ - ] deleted 1 point 2.0 yearsJul 3, 2023 08:55:28 ago (+1/-0)

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[ - ] RMGoetbbels 5 points 2.0 yearsJul 2, 2023 13:08:00 ago (+5/-0)

Paying off your jew mortgage opens you up to a whole new world where you can tell people to fuck off without consequences.

Getting past the jew property taxes is another thing and will likely never happen because ohhh do the normies lubbs dey gibbs as long as they don't have to payz fo' dem.

[ - ] Clubberlang 3 points 2.0 yearsJul 2, 2023 21:45:54 ago (+3/-0)

Aye luhs me some fuck you money.

[ - ] RMGoetbbels 2 points 2.0 yearsJul 2, 2023 21:48:51 ago (+2/-0)

That's one of the ways they try and justify it but the truth is that a nigger is a fucking nigger.

[ - ] Clubberlang 3 points 2.0 yearsJul 2, 2023 21:43:14 ago (+3/-0)

Oyyyyyy Veyyyy this is anti semetisms!!

[ - ] Belfuro 1 point 2.0 yearsJul 3, 2023 00:52:59 ago (+1/-0)

There is sound argument against this.

Your dollar today is worth the most it ever will be.

Or to put it as the Weimar did.
By a house for a million dollars and wait ten years, sell a loaf of bread and pay off your mortgage.

Debt is how we shorting the dollar and game the system.

Now imagine if you spent your excess on a new business...

Another way to look at it. My best mate growing up saved every penny he could, really didnt live much.
By 24 he was dead still not having lived much.

Rip mate, think of you all the time

[ - ] MaryXmas [op] 1 point 2.0 yearsJul 3, 2023 05:49:18 ago (+1/-0)

You are absolutely correct, no question. What makes it even worse is that my mortgage is on a 2.78% interest rate.
It makes more sense to keep my mortgage and invest in the market. I want the debt gone.

[ - ] TheGreatWar 1 point 2.0 yearsJul 2, 2023 21:28:18 ago (+1/-0)

You may want to review your math results. A compounded return isn't the same as an annual return.

[ - ] MaryXmas [op] 1 point 2.0 yearsJul 3, 2023 13:21:47 ago (+1/-0)

I like thinking in compounding returns. It also makes me buy investments instead of buying liabilities - which is basically everything at the store.

[ - ] deleted 1 point 2.0 yearsJul 2, 2023 19:59:12 ago (+2/-1)

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[ - ] MaryXmas [op] 1 point 2.0 yearsJul 3, 2023 05:51:56 ago (+2/-1)

"So paying it off doesn't really make sense"
Sounds like a debt slave.

[ - ] deleted 0 points 2.0 yearsJul 4, 2023 22:50:48 ago (+0/-0)

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[ - ] deleted 0 points 2.0 yearsJul 4, 2023 22:51:23 ago (+0/-0)

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[ - ] TheOriginal1Icemonkey 0 points 2.0 yearsJul 4, 2023 22:43:50 ago (+0/-0)

Unless you can cast that silver and gold into bullets, it isn’t worth a damn in the end, just like everything else.

[ - ] deleted 0 points 2.0 yearsJul 4, 2023 22:49:31 ago (+0/-0)

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[ - ] TheOriginal1Icemonkey 0 points 1.9 yearsJul 5, 2023 01:47:08 ago (+0/-0)

Ok troll. Are you Will0890, or whitecollarcriminal by any chance?

[ - ] deleted 0 points 1.9 yearsJul 5, 2023 08:10:09 ago (+0/-0)

deleted

[ - ] TheOriginal1Icemonkey 0 points 1.9 yearsJul 5, 2023 22:39:26 ago (+0/-0)

Easy there big guy.

[ - ] TheOriginal1Icemonkey 0 points 1.9 yearsJul 7, 2023 19:45:51 ago (+0/-0)

Not as Far-as-I-can-Si.

🤣🤣🤣🤣🤣🤣🤣🤣🤣

[ - ] Sleazy 1 point 2.0 yearsJul 2, 2023 15:28:03 ago (+2/-1)

Just don't have a mortgage

[ - ] MaryXmas [op] 3 points 2.0 yearsJul 2, 2023 16:36:42 ago (+3/-0)

Sometimes, we all have to do things that we don't want to. I could move to a smaller house, or I could pay off my debt. It would take 3+ months to move my whole family so paying off my debt is the path I will take.

No need to be a dick. I want to support others to live debt free and you should too.

[ - ] TheOriginal1Icemonkey 2 points 2.0 yearsJul 2, 2023 20:28:10 ago (+2/-0)

Sleazy is one of those who will never have anything. Makes no money. Takes no risks. Pays rent. Probably goes through the Starbucks line twice a day.

[ - ] rhy -2 points 2.0 yearsJul 2, 2023 16:12:13 ago (+0/-2)

I'm working on eliminating mortgages for everybody: OpenAirShips.com

[ - ] 12098 -3 points 2.0 yearsJul 2, 2023 21:39:04 ago (+0/-3)

Without the mortgage most people would spend it all like niggers. Interest earned is more abstract apparently.