:) Back to Spending.
I totally forgot to do my final update yesterday....I read the book "Don't Spend Your Raise" last week...not too much in there that I didn't know...BUT...did you know that by paying one extra house payment a year toward the principal of the loan you can pay off a 30 year mortgage in just 20 years?! I think that's useful info. I know DR says never to get a 30 year mortgage...but....sometimes you just don't have enough income for a 15 year loan.
Man, it is a GOOD thing that the month ended yesterday cause someone...ME...ran out of adhesive last night while making some cards. So I totally stocked up today. :)
Jason was given a gift card as a "thank you" for all the website and technical work he does for the church...so we even got to go out to eat last night.....and it was really nice...I was so ready to eat out by the end of the month!
Believe it or not, Jason wants to try the no spending thing AGAIN! He's saying August, but I think that's just too soon...maybe we can come up with a bit of a compromise. :) We'll see.
4 Comments:
You should totally do an allowance! It's better than nothing. Good job at the no spending thing!
That is good info, about the mortgage payment. Amazing that one extra payment a year can trim off 10 yrs. in the long run!
Actually, I would argue that one should stretch out the mortgage as long as possible. A home-owner may participate in equity gain of a 100000 dollar house while only owning a fraction of the investment and take the tax deduction on the interest. The owner may then invest any extra capital(not going towards the principal of the house) in an investment with higher yields than the measly inflation tracking gain that one receives from their home.
That's all well and good...until something happens to your health or job, and you can't make the mortgage payment.
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