Feb 12, 2014

I See the Future....

And it filled with less debt. It is filled with only our mortgage. It is filled with new windows, which means lowers energy bills and less drafts. It is filled with clean gutters. Wait...what? 

So yes we need to clean our gutters. They are bad and we learned just how bad the other day due to the biggest icicle I have ever seen hanging from our gutter. But that's not why we're here. We knocked the icicle down and decided to get a ladder when it warms up a bit and get those gutters cleaned. But like I said, it's not why I'm writing today.

This post is a celebration of us paying off our car loan. Which means we have our mortgage and only our mortgage. Seriously that is amazing. We are over-the-moon excited. Even better than getting it paid off, we were able to pay off the loan about three years early. Three years less interest. Awesome, right? 

Here's how we did it. Every time Rob was given a raise or we got a tax refund or we were given extra money, we didn't add it to our spending budget (although sometimes that would be what we wanted to do). Instead of put that money towards our loan. We were paying about three times as much as towards the loan than we needed to in order to get more money going towards the principle. It clearly helped. With the help of our refund money, we were now able to completely pay it off and we are overjoyed. 

So what are we going to do with that money now? It isn't going into our spending budget. Instead that money is going towards our savings, so we can get much-needed new windows for this house that still has the original windows that came with house, which puts the windows about 30 years old. Think of the money we would save on heating and cooling bills....sorry, I went off into money saving land and it's happy there. 

We had thought about getting new windows this last fall, but decided against it because we would have had to take out another loan, which is exactly what we're avoiding. So now we are saving all that money and we are hoping we will be able to get our windows sooner rather than later. Seriously excited about that one. So what happens after that? It's hard to tell. We have lots of home projects we want to do: two shower tile replacements, shelves in the basement, new doors for the fireplace. The list goes on. 

But whatever. Who cares about that list right now?! Right now, we are just going to enjoy having no car loan. We are going to enjoy having just our mortgage. We are going to enjoy a little more of our money not paid to somebody else. Yay!


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