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What keeps motivated an a little more

November 20th, 2012 at 04:22 pm

Okay fellow bloggers, I have some exciting news for you. As of today, our mortgage balance is $103,516.56 down from $243,500 twenty three months ago. I project that if everything goes according to my plan, the balance will be at $99,000 by December 30th. Today, I was thinking that I have done several things to keep me motivated to pay down this debt (debt is debt, whether it is considered to be good or bad debt). Here is a list of things that keep me motivated.

1) First and foremost, keeping you abreast of our progress on SA is definitely motivator #1.

2) I am pretty much a visual person so I keep a debt repayment binder to log payments. In this binder, I keep a complete mortgage amortization table in which I highlight with a pink marker where we are. As of today, our balance is the amount we should have owed on July of 2012. I also keep a drawing of a picture with 244 boxes (each representing $1,000). Each time $1K is reduced I color the box.

3) I also love to read the success stories posted on Dave Ramsey's website. They are often inspiring and great motivators to keep me going.

4) I scour the internet often, looking for websites that offer valuable financial advice for our specific situation.

5)I set up automatic as well as "one time" extra principal withdrawals using CHASE online services.

6) Once a month, I cash in coins we have accumulated and make a deposit. The smallest amount made to the principal was $7.50. Any amount I put into the principal will get me closer to paying it off.

7) Any amount of money saved by using coupons, rebates or any unexpected windfalls goes to the mortgage principal automatically.

8) Of course, living BELOW our income has helped us reduce this debt.

On another note, Leo, our new puppy is doing great. He is playful, super cute and has somewhat filled the void left by my beloved Max. I also made a contribution to a non-profit organization that rescues stray dogs from the streets in Puerto Rico in memory of Max.

My DS#1 has only four weeks of college left and he will officially fulfill all the credits required for his degree. We are so proud! DS#2 continues to attend our local community college and works part-time.

This is it for today! Happy Thanksgiving to my SA family. I'm definitely thankful for all of you.

PS. I am also headed to New York City this Saturday to see Jersey Boys on Broadway!

Debt repayment binder:


Payoff HOUSE visual:

7 Responses to “What keeps motivated an a little more”

  1. ThriftoRama Says:

    I like that chart a lot. It is cute!

  2. creditcardfree Says:

    Yippee!! You are doing AWESOME!! You have lots of great motivation, and we are happy to cheer you on until the end. Smile

  3. twest Says:

    Awesome chart. I love that idea and I know it is a great motivator. Congrats on your wonderful progress.

  4. Shiela Says:

    Great job!

  5. North Georgia Gal Says:

    That chart is a great idea!

  6. PNW Mom Says:

    Congratulations! You are such an inspiration! Jersey Boys was great! We saw it in Vegas in October and really enjoyed it....hope you have a great time!

  7. Jerry Says:

    Hey, your efforts and persistence will lead to cracking that 6-figure milestone by the end of the year? Fantastic! That is a huge deal. I agree that having encouragement and positive stories to keep the motivation up there is one of the best forms of insurance that you can stick with your goals... not to mention living below your means, of course! Nice work... Smile Jerry

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