$215,997 Left on Our Mortgage

This mortgage feels heavy and I do not like it.

At the end of 2019, I wasn’t sure if we would ever have a mortgage again. But here we are, almost one year in. I do not care for it at all.

But we weighed our options and here we are. I still believe we made the right choice in purchasing this home. Mortgages just kind of stink, though.

We spent the last year working on renovations and not worrying about putting extra on the mortgage. The time has come to do something about it.

While we aren’t sure that this is our forever home, we want to at least pay it down as we would a 15 year mortgage until we decide what we would like to do long term. (It currently is on a 30 year term). This small step would make me feel a little bit better about it.

We are also hoping to boost our savings, and if say, four years down the road we feel like we will be here for awhile, then we will throw a big chunk at the mortgage.

But for now, I’m aiming for $500-600 extra each month. That seems doable.

The interest rate sits at 3.375%, and after running numbers I don’t think it would be worth our while to refinance after taking closing costs into account.

So cheers to making a small step in the right direction!

Life and Financial Update ||May 2021

Hey friends, it’s been awhile! Life has been crazy since early 2020, as I’m sure you are well aware. I thought I’d pop in to give you guys a life and financial update since we paid off our cabin in late 2019.

Ah, paying off our cabin was amazing. We felt so free! But after the pandemic hit and a realization that we were not able to be as self sufficient as we had hoped to be there, we purchased another home in May 2020. It was a fixer upper on five acres, and was basically the cheapest thing on the market that fit what we were looking for.

We started to pour money into renovations, and unfortunately we are not finished yet. It is a bummer to have a mortgage, but at least it has a low interest rate. We are are slowing down for the time being with upgrades for now though, because we need to begin saving more again. This is so very important for me.

In the past year we have started (and fully funded) a car fund, which is much needed. I hope our van holds on for a little while longer though. We’ve owned it for nearly ten years and it has nearly 220,000 miles on it. It has been absolutely excellent for our family. I hate spending money on depreciating items, so hopefully it will hold on for at least another year!

We are also still holding onto our cabin as an asset. We love it, and the value has skyrocketed! Our neighbor’s home is under contract for $400,000 (after one day on the market), and we purchased our home for $200,000 nearly two years ago. We are very pleased with this investment.

I’ve also challenged myself to put all profits from my Etsy shop into ETFs for the next few months. I did this last month, and it’s been fun to see the account grow. I am using an Ally Invest account for this purpose, and am sticking with ETFs that track the S & P 500.

Although I am by no means the breadwinner in our family, I love seeing what I can do to help the family’s finances by budgeting, being frugal, contributing to our financial discussion, learning about investments, and investing what I can outside of my husband’s 401k and IRA. I hope that we are changing our family tree and will be able to wildly give to others one day.

Thanks for stopping by today. Hopefully I will share more here soon.