18 months ago I swore I'd never move. An incident with a relative (which has left me fighting symptoms of PTSD for the past year), a couple family and friend deaths, and I've been thinking about it. Logically, a stupid thing to do. But sometimes it's hard to think logically.
I was supposed to collect mom from an appointment on the other end of the city today after work. I find a text on phone, our cousin took her back. Good thing, as I came to realize. So I figure I'll go see Dad instead. Get halfway there, make a turn, and car starts making such a horrible grinding noise I thought half the city must have heard it. Noticed a bad smell afterwards too. Certainly the people behind me must have thought the car wasn't safe to be on the road. I was wondering myself, but i had pulled over and couldn't see anything obviously wrong. So I carefully make it the short distance to dad's. Take the wheel off. The sway bar link came off the strut, bent over, and the wheel rim ground a pretty good gouge into it. I've seen some screwed up car parts, but that ones a first for me.
I guess I'm misunderstanding you. You make payments twice a month and only get ahead by one payment annually? They must be partial payments? Either way, the first thing paid is the accrued interest and then the remainder goes onto the principal. IMO, and every banker/loan officer/financial advisor I spoke with, the fastest way to pay down the loan is to make extra payments onto the principal. This would be done at the same time as the monthly payment is made. The quickest way to pay down a loan is to make payments directly onto the principal after you pay the monthly interest. This would be done at the same time as the monthly payment is made. There are plenty of loan calculators on the web that you can add extra monthly payments and or extra annual payments that show this on their amortization schedule after you enter your numbers. It will show you right away. I did consider an adjustable ground mount solar array. The adjustable part would only be for the tilt angle from winter months to summer months. I also considered using the garage roof (or wood shed) for mounting panels but again, due to the snow load, totally pointless. The research I have seen, the tracking pole mount system are by far and large the best way to optimize the solar gain for the panels. They result in 30% to 50% more production as opposed to stationary mounted panels.
Time change is right around the corner. Then darker in the AM but lighter in PM. I am all for one time without the switching. I think we should be on the maritime zone.
If you make a single payment each month, you make 12 full payments a year. if you make a half payment every two weeks, that’s 26 payments a year. 52/2. those 26 half payments make up 13 full monthly payments. David Ramsey likes to take credit for this concept. It was first told to me by a banker back in the early 80’s. We had a paper route and as a result, our life as entrepreneurs started very early.
Can't wait for the time change. Then I would have been up this morning at 1:30 am instead of 12:30 am. Actually, i don't really mind waking up so early. It is being dead tired by noon with still several hours left in the work day
We have to go to Florida next week. I have a hard time there, they don’t have the daylight swings like we do being so much closer to the equator. When it’s dark at 7 am it messes up my schedule.
Talk about positive about the negative!!! That is a dumb attitude and people like that will always be a slave to debt.
If I recall, its supposed to cut a 30 year mortgage down to 23 if you pay no other extra money on it.
Really depends on interest rate. But your in the ballpark; the real question is if your mortgage rate is 3% and inflation is 6% should you be paying it down anyway
Sitting at the computer, I just looked outside and saw this so thought I'd take a picture from right where I am sitting.
Dumb attitude? Well, I guess maybe it's dumb, but he has always been like that. He was the one to always have nice cars during college years so there is no surprise to him having payments throughout his life. Guess what? I've had payments of some sort throughout my life also. With the exception of the last few years just before I bought this place, I was debt free. But, he has been living in a large house on a good sized chunk of property for around 40 years now. And also managed to live well during those years. The trick to not becoming a slave to debt is this "Don't live beyond your means!" I know someone over 50 years that all their life the creed has been "that's good enough" and "we can do without that". The entire life has been spent on watching the numbers grow in their savings/investments. No kids. Nothing special of a residence to live in. During the winter months heat is kept low mid 60's at best for a small house. They are nearing their mid 70's. Why is it that they don't enjoy what they have worked hard for? These people have preached to others all throughout the years; even telling me I am spending like a drunken sailor! If you check the inside of coffins, there are no pockets in them. You can't take it with you.
Now I understand what you're saying. I thought we were talking about paying extra on the payments, not making extra payments.
Not too bad! But, what I'm trying to point out is that by making extra payments on the principal every month, my 30 year will be paid off in around 10-11 years. More appealing, no?
If you refinanced or took out a mortgage during the recent good interest rate period, the money you owe is the cheapest money you will ever owe. Instead of paying the extra money on your mortgage, use that extra money to make you more money.
