I am really glad that I have reached the one year point in my mortgage payoff plan...even if I might have to add a month or two because of unforeseen circumstances. It is a huge milestone and yet the thought of another whole year of scraping my money together and going to work every day and jumping through hoops does not motivate me. I need to focus on getting through each day. Because when I get through one day then I am one day closer to Friday and when I get to Friday then I have conquered a whole week and when I do that 4 1/2 times then I have put a whole month behind me. And I only have to do that 12 more times before my mortgage will be gone. That sounds a little more doable.
I will try not to think about all the stumbling blocks of last year...the trashed rental house, the cost of fixing the rental house, late rent, doctor bills, dentist bills, air conditioning repair, fridge repair, spending too much on the dogs to make myself feel better (although that did work). This next year is a blank slate and it begins with trying not to over-spend on Christmas, then trying to not let my job drive me crazy, then the possibility of my renter moving out and having to put in new carpet (I am dreading this already). Ok, I'll stop there. I need to go back to focusing on one day at a time. Tomorrow is Wednesday. Only 3 more days of work until the weekend. I can do this!
I struggle doing the one day at a time thing. It makes it seem like it is worse than it is sometimes. I still have to resort to it sometimes, but I struggle with it.
I'd like to try and focus on the things I like about work to keep me motivated, but that doesn't work all the time.
Glad the pups cheer you up. I think they have it figured out - I bet they don't dwell on much of anything.
One more year is so great! Look at what you've accomplished despite the setbacks. And pets are worth every penny -- plus you are rescuing these dogs and giving them a better life. Too bad there is no hole digging fairy to come visit you in the night.
Ya, I do switch back and forth. Sometimes it's "only one more year" and sometimes it's "just make it til 5!". One year seems really far away right now. The dogs are always so happy to see me. Makes me not want to leave them and go to work but then I wouldn't be able to support them so they motivate me too.
Popular Girl, if I could just train the dogs to dig in the right spots I would have it made!
Consider yourself fortunate. Most people have far more than one year left on their mortgages...
Yes Executioner, I am very fortunate. Whenever I think about getting another mortgage to build a real house on my land I think of how many years I would have to work to pay for it. It's daunting. And yet 30 years is normal to most people. Finding a more enjoyable job would change my outlook but I am thankful to be employed right now even if it isn't my dream job.
I remember what it was like as I paid off my mortgage in 1998. It followed a few large payments in 1997 and early 1998 as I took some of my stock market gains off the table. In 1997, the top rate on long-term cap gains was lowered (to 20%) so I was not hit as much. Furthermore, because I would be taking the standard deduction on my state income taxes, the loss of the home mortgage interest dedution on my state income taxes had no effect. [Daizy, be aware of how the loss of any home mortgage interest deduction will impact your income taxes due.]
My monthly budgeting after I paid off the mortgage became a lot easier without that monthly payment. One biweekly paycheck (I was working full-time back then) was enough to cover my vastly reduced monthly expenses. It enabled me to quickly (i.e. two years, perhaps) rebuild the accounts I used to pay off the mortgage.
Hi Dave, my mortgage is on my rental house so the deduction works differently. But my plans to live off the rent I collect is getting shaky as rents are getting lower around here. If/when I do make it to the point where the mortgage is gone it will be hard not to go a little crazy with my paycheck. There are so many things that I have put off and I have already raided most of my emergency fund. Rebuilding that plus a maintenance fund for the house will take almost a year.
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