Layout:
Home > 12 more years!

12 more years!

February 4th, 2013 at 03:36 pm

This month marks the 3rd full year with our 15-year mortgage. That means there's only 12 to go! There's moments where I wish we had stuck with the 30-year option, but luckily we have a decent income between the two of us that we were able to go with the speedier option.

What this means for our family: our lives won't be spent as a slave to a lender. G will have recently turned 14 when our loan is paid off. Because of cut-off dates, she'll most likely be in 8th grade. That leaves 4.5 years of extra boost to her college fund (we've already started contributing to a 529, but I'm sure we'll need more.)

Plus even if I were to get pregnant this second and have a child in 9 months (very happily still on the pill so that shouldn't be the case :P) our 2nd kid would be at the most 11 years old when the house is paid off. How neat is that?!

I'm excited to teach my child(ren) about the benefits of being money concious early on in life and hopefully they will learn from our mistakes but also from what we've done right.

4 Responses to “12 more years!”

  1. NJDebbie Says:
    1359992517

    That's awesome! If I stopped paying extra principal, we will only have 4 years left.

  2. Jerry Says:
    1359992993

    The fact that you are teaching your kids about good money management will lead them to be FAR ahead of the curve in financial matters... there are so few people who have any idea about fiscal sanity these days, it is sad. For a young person to grasp solid principles early on will offer insurance of a brighter future. Nice going!
    Jerry

  3. Carolina Girl Says:
    1359993979

    That time will fly by. Great job!!!

  4. JulieA Says:
    1360005571

    Just not having a mortgage payment at the same time as tuition payments will be a HUGE blessing. Best of luck to you.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]