My co-worker likes to "enlighten" me and today he told me that I should be paying my mortgage weekly instead of monthly. Weekly, really? Not bi-weekly? No, no, weekly. He insisted that paying weekly (not paying extra, just the same payment split in to weekly payments) would shave YEARS off of my mortgage because it would save tons of interest. I was 99% disbelieving and 1% willing to look it up to see if there was some magical repayment plan that I had missed.
Then he told me that his new 40 inch flat screen TV was being delivered today. He said, "I bet you still have a tube TV. Actually, we have discussed this before and yes, I have 2 tube TV's. He insisted that I should get a flat screen and that I could get a 35" for probably under $400. Hmm...I hadn't planned to spend $400 for a TV ever. I then added to his disdain of my lowly living situation by informing him that I usually watch Netflix on my 10" netbook while sitting on my bed with a dog on each side of me. From there he decided that I was almost hopeless and should get on Match.com ASAP to find a man or else I was doomed to start dumpster diving. I'm not sure how those things are related.
After he gave up on improving my life, I looked up weekly mortgages and found that most banks will hold partial payments until the end of the month so there is no interest savings. I have no idea where he came up with that idea. He has a new jumbo house and new mortgage as well as a new pool table and flat screen. He likes to tell me that the kitchen is so big and has so many cabinets and drawers that he could put one pan in each cabinet and one utensil in each drawer. I'm sure it is great if that sort of thing makes you happy.
4 hours ago