Wednesday, September 29, 2010

Mortgage Progress For September

It's extra mortgage payment time. I wish I could do this closer to the beginning of the month but my lack of reserve funds forces me to wait until a later payday, which is today. I paid another $1,386 extra toward the principal. Not as much as I was hoping to do but I already spent my bonus on bills so that's all I have this month. If I stay on schedule I will pay off the mortgage 5 months from now, that will be February. I owe $12,748. That's so low, it doesn't even look like a mortgage anymore. It's more like the amount of a car loan. If I didn't pay any more extra I would pay off the mortgage in 1 year and 10 months.

My job was very annoying today. Some was my fault, other stuff was people looking for someone to blame. I think I had better stick with my plan and not get lax in case I can't take it any more and just quit. If something like that did happen, like quitting or layoff, I would still be able to pay off most of my mortgage if I sold my RV (I estimate I could get $7k), sold my stocks ($3k maybe), and used all of my reserve funds. There is no guarantee that I could even sell the RV so I will keep plodding away and keep my sights set on February.

By the way, it was 100 again today. Will it ever cool down?

17 comments:

Marie said...

I'm so jealous of your mortgage! Mine is at $473,000!! We can only afford an extra $200 month right now.

You are doing a great job!

Sallie's Niece said...

Good job Daisy! You're so close, I bet you'll get there sooner than February. Stay cool!

Anonymous said...

When I first started reading you, I thought you were crazy that you could up and quit wth so little. Now I find myself looking to retire on $26,000 in February cause I can't stand it anymore - but wanna stand it long enough to hit that amount, and worried how I can make it on that. Will I be able to get another job.

write some more again about how you can live so cheap, please.

Dave said...

Once you get down to under $10,000, Daizy.......(by the end of 2010 seems very doable)......you will really start to TASTE it! :P

Petunia said...

It's not even an expensive car loan, it's a cheap car loan!! :)

I enjoy reading your "what-if" scenarios. (If I quit my job today, I could sell this and do that and pay off my mortgage.) I have started crunching my own.

Let's Be Self-Sufficient said...

So exciting! You're almost there.

The Executioner said...

In the context of most mortgage balances yours is small peanuts now. It must feel great to be so close to the finish line. Keep pushing through!

Daizy said...

Marie, I hope you at least get a pool for that kind of money! Even an extra $200 is a good thing.

Daizy said...

Sallie's Niece, I'm trying to make it sooner than february but the closer it gets the harder it gets to stay on budget. There are so many things that I have put off buying.

Daizy said...

Anonymous, I think the main thing is the part of the country I live in. Arizona isn't as expensive as say, California. Then I have land that is paid off so my living situation is flexible, live cheaply in an RV or this old mobile home, or build a house. The rest of my expenses are pretty normal, utilities, cell phone, insurance, gas, food, taxes. $700 for the basics. I've been spending more than that lately. I would definitely need at least a part time job if I quit my full time job so that I could continue to save for things such as medical costs above the norm and home improvements, a car replacement fund and travel money. But at least I would know the basics were covered. Good luck to you!

Daizy said...

Dave, Christmas gifts are going to be a challenge this year. On one hand, I will have no mortgage soon so I could splurge a little. On the other hand, if I keep my spending low I can put more towards the mortgage. I'll probably just end up spending my normal amount.

Daizy said...

Petunia, I like the "what if" scenerios too. Gives me more security to know I have a back-up plan.

Daizy said...

Let's Be Self Sufficient, very exciting indeed! I am ready to move on to the next step, whatever that may be!

Daizy said...

Executioner, it seems unreal. I can't wait until the weather cools down so I can get in my storage room and see if I have anything of value to sell to help the mortgage disappear faster!

Rachel said...

Hi Daisy, I have been following your blog for a few months now and have really enjoyed it. I certainly admire you for your ability to stick to your plan and focus on your goals. I would like to offer a suggestion concerning your comment about the Christmas gifts. I know that at my age (51), I pretty much have all of the 'things' I need or want, so as I tell my grown daughter when it comes to gifts, I would much rather her DO something for me than BUY something for me. I'm talking about such simple things as painting a room in my house, cleaning out the storage shed or even digging a few holes so that I can plant my newly bought shrubs. These little gestures like this can mean a whole lot more than someone you pick up at the mall!!!

Rachel said...

Hahahaha!!! I meant to say 'SOMETHING' you pick up at the mall and not 'SOMEONE' you pick up at the mall.

Daizy said...

Hi Rachel, I am sure my mother would like that idea. If I lived closer to her it would be easier to do something but maybe she can think of something that I can do the week that I will be there (if i ever get around to buying that plane ticket!)