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Another 2012 Financial Milestone met!

October 22nd, 2012 at 06:06 am

On July of this year, I/we was/were able to meet one of the 2012 financial milestone six months ahead of schedule. I needed to set another financial milestone goal to keep me focus. So I thought that maybe we would be able to "get under the $150K total debt" (house and all)and today we did. As of today, our total debt is $142,032.00. I'm so excited!

Today, I also decided to close the books on the month of October. We paid $17,481.27 extra on the mortgage principal. We used part of our savings to make this astronomic mortgage principal payment. We are down to $110,409.00 from $243,500.00 twenty-two months ago. We are hoping to be debt free in another two years. (crossing my fingers). Total debt includes mortgage and car loans.

P.S. I'll have to change the ticker on my tool bar!

13 Responses to “Another 2012 Financial Milestone met!”

  1. twest Says:

    WOW! That is awesome! I know you are so proud. You have paid off a lot of your mortgage in just 2 short years.

    I would love to hear how you have done it. Have you had any windfalls or is it strictly just being frugal with your regular income? We are currently trying to pay off our mortgage as well. We have only paid about 20,000 in 3 years though. Any tips you can give would be appreciated. Keep up the great work!

  2. ThriftoRama Says:

    This is so awesome. You're making me feel like a slacker!

  3. Wino Says:


  4. NJDebbie Says:

    We are blessed to have good paying jobs, but we also live below our means. There is one category our family does not scrimp and scrape and that is food. I do cook a lot from scratch and we limit ourselves to eat out once a week and it's usually our local favorite pizzeria. We definitely avoid having to pay the 15-20% tip. We never carry credit card debt and are last "all out" vacation was done in 2008. We also have a rental property that generates income for us because it's paid for. I'm also goal oriented and tend to become obsess with achieving them.
    P.S. Twest I think that $20K in three years is great! Keep pushing for a little more each time as long as you are not compromising other necessary expenses.

  5. littlegopher Says:

    Wow, just WOW!! Once you set a goal, you really make it happen - so no doubt whatsoever that you will be totally debt-free in two years (and it wouldn't surprise me that you've done it sooner Smile ) Yes!!

  6. PNW Mom Says:

    Wow! That is so awesome! Congratulations! You are an inspiration!

  7. Blessed Says:


  8. creditcardfree Says:

    Congratulations! A goal is a fantastic motivator.

  9. LuckyRobin Says:

    That is incredibly impressive. You are doing great!

  10. snafu Says:

    Wow! thanks for offering us a tangible example of how important it is to have a goal, make a plan and have the determination to stick to it. I so admire you for sticking to your financial decisions. What made you decide to pay down your mortgage? Do you live below your means as a lifestyle choice or as a way to accelerate your decision to pay down the mortgage.

  11. NJDebbie Says:

    snafu, my husband can retire in another eight years if he wants to and that seems to be the plan. I, on the other hand, have a long way to go to retire because I'm younger than he is. I want to payoff the house to make it easier on us financially. Once the house if paid for, the plan is for us to travel.

  12. snafu Says:

    Debbie, I so admire your plan. What is an 'all out' vacation? .

  13. NJDebbie Says:

    snafu, an "all out" vacation is a vacation in which everything pretty much goes. We did not think of the money.

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