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Mortgage Payoff Plan Update: Jul – Sep 2019

October 1, 2019 By Thinking of Someday 7 Comments

Hello there! We didn’t abandon you guys or the blog. Lol. We just took a little break to finish enjoying our summer and get back into the hang of school for our oldest son. But what better way to kick off the Fall season than with our third quarter mortgage payoff plan update. If you […]

Mortgage Payoff Plan Update: Apr – Jun 2019

July 1, 2019 By Thinking of Someday 4 Comments

Time for our second quarter mortgage payoff plan update! If you missed the first quarter update, you can check it out here. I completed my first year on the new job and with that came the vesting of my RSUs!! Woot woot! As you’ll see in the numbers below these RSU’s will be the X-factor […]

Financial Health: Our First Speaking Opportunity

June 24, 2019 By Thinking of Someday 3 Comments

It’s no secret that we like talking about personal finance. I mean, look at the majority of our posts on the blog. However, when a friend of mine asked us if we would be interested in talking about how to be financially healthy at a health fair that she was having at her church… We […]

How To Be Financially Healthy

June 17, 2019 By Thinking of Someday 5 Comments

Why Is Being Financially Healthy Important? People who are financially healthy tend to stress a lot less about their finances and money in general. This gives them the ability to be able to focus on other things and enjoy life without the added stressors of worrying about money. Financial health can help with stability, education, […]

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Hey! We’re Omar + Kim.

A married couple making someday a reality all while balancing family + finances + avoiding debt. Find out more about us, here.

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Instagram post 2198720701498615561_8793995697 Quite a ways to go to get to 100%, but that’s ok. We’ll get there. 🐢
Instagram post 2196870829430298642_8793995697 November Recap || We made a lot of payments towards our mortgage principal in November in order to get to $101k. Besides our regular payment ($1139.46) and the RSUs ($1500), everything else came from all the transfers we did that are outlined in the picture, sometimes twice in one day. Lol.
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The $95.54 payment is something we have setup to automatically withdraw from our account towards the mortgage. We did this because it’s what we would have needed to pay extra in order to pay the mortgage off in 15 years from the time we purchased the house (after we refinanced to a 15-year mortgage). So this was setup before we even started our #mortgagefreejourney.
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On Nov 21, we made the $1500 payment with the RSU money. That got us to $102,020.62. When I saw that we were only $20.62 away from being an even $102k, I told Omar he better find some money in the budget to put towards the mortgage. 🤣 And so he did another transfer of $20.62. Lol.
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And before I could even post about us reaching $102k, we did another payment 6 days later that brought us to $101k.
Instagram post 2195099541783240281_8793995697 T H E  C H O I C E  I S  Y O U R S!
Instagram post 2193080050207492136_8793995697 Soooo close to $100,000. We can feel it!! 💃🏽 🕺🏽
Instagram post 2192293690626409747_8793995697 And to think our original goal for the year was $23,000. 🙌🏽
Instagram post 2191701566520389980_8793995697 The total for our mortgage principal payments for November was $3924.33.
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$878.46 came from our regular payment, $1525.25 came from our budget, and $1520.62 came from RSUs.
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This is the most that has come from our budget all year. We did have a 3-month check though. And we both agreed that we wanted to put $1000 towards the mortgage from it.
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Now we’re in the last month of the year, and we’re hoping to finish up strong. How’s everyone else’s #mortgagefreejourney going? Is it looking like you’re going to meet your goal for this year?
Instagram post 2191480089267366040_8793995697 Several posts back, we posed a question. After many talks we decided to use the additional funds to fund our youngest son’s 529. Our reasoning is:
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1. We’re making incredible progress on paying the house off. We’re hoping to be done much sooner than we first thought.
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2. We’re investing 20% of our income for retirement and it’ll just increase once we pay the house off.
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3. To fund our youngest son’s 529 this year, we used our tax refund. Since those aren’t guaranteed (and we actually owed taxes the last couple of years prior), we don’t want to rely on that. So we agreed that it’s better to fund his 529 ourselves instead of depending on a windfall. Plus, Omar received the gift of going to college debt free and we want to give that gift to our kids.
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Thanks to those that left their feedback!! ☺️
Instagram post 2190759099323309660_8793995697 I probably should’ve posted this a little sooner given that Black Friday and Cyber Monday have passed. But there’s no time like the present, right? 🤷🏽‍♀️ And besides, someone might need to hear this regardless of if it relates to the holiday shopping season or not.
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This does come to mind particularly for this time of year though because it’s typically when people will be buying for several people, if they’re going to buy anything at all.
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I like to give gifts during this time, and as long as my list is, there’s no way our budget could handle it if I didn’t plan to spend. I literally make a list, set a budget per person, and try to come under budget because I consider that winning. Lol.
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However, it hasn’t always been this way. When  I was without a job and couldn’t afford to get other people gifts, I let those who usually would get me something know that I couldn’t get them anything and they didn’t need to get me anything neither. Was it easy to admit? No. But I felt better once I said it and knew that I wouldn’t be adding to my debt that I currently had no way of paying.
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So regardless of if you are planning to spend or planning to not spend this holiday season, either way make a plan. Stay true to yourself especially if you’re planning not to spend. And stay true to your budget if you are!
Instagram post 2186463961520488685_8793995697 We’ve been debt free for over 4.5 years now. Just like becoming debt free didn’t happen without a plan, maintaining a debt free lifestyle didn’t happen without one either.
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On the blog, I decided to share 5 things we do to help maintain our debt free lifestyle and why we choose to do them.
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Yes, one of them is budgeting and one of them is actually spending money. Click the link in our bio to find out what the other 3 are.
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Once you become debt free, what are you going to do to maintain a debt free lifestyle? Have you given it any thought? If you’re already debt free, what are you doing to stay that way?
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