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Tuesday, January 29, 2013

mortgage madness

Oh, I am going all kinds of crazy with my mortgage.
This type of situation is when I'm not sure if my somewhat obsessive nature is a blessing or a curse.
Yes, it's important to let go of things, take them slowly, step by step.
But it's also so exciting to see progress!

I sent off my monthly payment with some extra principal this month, and the bank mistakenly applied the whole thing to principal. I could have called to fix it, but since I'm already paid a month ahead, I don't really need to. And it's so wonderful to see the drop in principal! In just one payment, I wiped out what would have been almost a year's worth of principal making regular payments (because so much goes to interest).

Now it makes me want to put more, more, more toward principal. My ostensible and reasonably ambitious goal is to be mortgage-free by age 50. What I really want is to be mortgage-free much sooner.
However, I don't have more money to put toward the mortgage right now.

Do I get a second job? (after completing this BS degree of course).
Or maybe ditch the car?

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