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Making Someday A Reality

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Don’t Call It A Comeback

November 26, 2018 By Thinking of Someday

Don’t call it a comeback! We’ve been here for years! Well, no. We actually didn’t even make it to our first year of blogging anniversary. But that’s OK!

It’s been a year since our last blog post. And here we are starting again. The last post that we left you with was about learning to enjoy the process. So why did we stop? Quite frankly, it was getting to the point where we weren’t enjoying the process of blogging anymore. However, our reasons were different.

Omar’s Reasons

I enjoy reading about and talking about personal finance. However, blogging about it is completely different. Why? Sometimes you can feel like a street preacher. You think you’re putting good information out there, but people are just walking by like you don’t exist. I was never one to look at our site’s stats; only the comments that people would leave. Yet, Kim would tell me to look at the stats as well because not everyone is going to leave a comment.

Kim’s Reasons

I completely understood where Omar was coming from, but my reasons for stopping were different. First of all, I didn’t want to blog by myself. Omar told me he would guest post (insert eye roll here), but when we started this we were supposed to be a team. I simply didn’t want to do it without my partner. Although we’re married and agree (or compromise) on our financial goals and ideas, we are 2 separate people with different perspectives. I wanted the blog to continue to have our differing perspectives for our readers. I feel that my financial understanding is simple, but logical compared to Omar’s, which is complex, but nuanced. Therefore, readers could continue to relate to either of us.

My second reason for quitting was because blogging is a lot of work. As much as I had an idea of how much work it is, I had no idea. Before we started our blog we thought we would post every other week. But once we started it and people asked for more content we decided to post once per week. Add that to 2 somewhat introverts who were trying to keep up with social media to promote our blog… We simply got burnt out.

My last reason for stopping the blog was because I didn’t have the energy to do it anymore. My days became filled with morning sickness that hit whenever it wanted to and still trying to keep up with a toddler as well as work my regular job. I was mentally and physically exhausted. Not to mention that I was salty with Omar because he wanted to become a guest poster on his own blog, but then he would still try to share other personal finance articles or videos with me (insert eye roll again… Lol).

So Why Are We Starting Again?

We’re starting again because we have more to say and more to share. And notice that it says “we”. So yes, that means you will be hearing from both of us.

Omar’s Thoughts

Kim has been pushing me for months to pick it back up and I finally agreed. The reason is that this information is helping people who want more out of their finances. Also, I think this is a message that people of color need. Because of slavery and racism, we haven’t had the same amount of time to build generational wealth as other races. In this day and age, we are making more money as a race than ever. I’d like to try to see if I can help us keep some of that income for ourselves and future generations so we aren’t looking to either political party to save us.

Kim’s Thoughts

It didn’t take long for me to miss blogging. I missed interacting with those who read our blog as well as the other bloggers we’ve come across in this journey. I also missed using the blog as a creative outlet in regards to writing, editing, and designing pictures for each post. But above all that, I missed sharing information that others might find helpful.

I also agree with Omar’s sentiments in regards to people of color; it’s the reason that we chose to not blog anonymously. So that other people of color could see that living debt free while still enjoying life could be possible.

What Have We Been Up To Since We’ve Been Gone?

Well, in case one thing isn’t clear… We’ve made (and had) a baby! Lol. Like most things in our lives, this was planned. However, we didn’t expect it to happen so soon! For a while, we wondered if our then 3-year-old was ready and how he would handle it. But at the same time, we knew he would be OK. We welcomed our second son in June, just three days after Omar’s birthday.

  • read: Financial Preparations To Make For A New Baby

Before we got pregnant, we were saving money to start our master bathroom update. It was to be the last major update before we started paying off our mortgage. We had a nice chunk of money saved when we discovered that we were indeed expecting already.
Since we try to make wise decisions no matter how much it sucks, this meant that our bathroom update would be placed on hold. We had to save money for the baby (more like for the bills that would be coming) and other expenses that needed to be taken care of. These included:

  • Insurance Deductible: $5000
  • FMLA Coverage (to cover unpaid maternity leave): $2000
  • Vacation (because we weren’t skipping another year): $2000
  • Things For The Baby (dresser, bedding, pictures): $550
  • Things For Our Toddler (new bed, bedding, pre-school tuition): $1455

Once we added up everything, we quickly saw our bathroom update dwindle away. However, the bright side was that we had enough money saved to do what we needed to do and wanted to do. And we were still able to get new bathroom countertops. We figured it was a good compromise!

Final Thoughts

So don’t call it a comeback. We haven’t completely been out of the loop since we’ve been in touch with some of you outside of blogging. Those who wanted us to come back, those who wondered why we stopped, and those who have already welcomed us back – Thank you! We plan to post as time allows, but at least on the 1st and 15th of each month – you know, kinda like payday.

** sidenote: If you were following along with us on social media, feel free to follow along again as the IG page (thinkingofsomeday) and Twitter (thinkofsomeday) had to be restarted from scratch.

What have you all been up to since we’ve been gone? How’s the budgeting going? How’s getting out of debt going? Did anyone start saving for their 3 to 6-month emergency fund yet?

Feature Image: PicMonkey

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Filed Under: Blogging Tagged With: blog updates, blogging about blogging, married life, newborn, personal finance

See what’s happening on Instagram…

thinkingofsomeday

As of 1/8/2022, it’s been one year since we beca As of 1/8/2022, it’s been one year since we became mortgage free. What better way to celebrate than a date night in our paid off home?! 😏
⠀⠀⠀⠀⠀⠀⠀⠀⠀
So how does it feel?
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Financially, we invested the most money we've ever invested. We also increased our lifestyle a bit as well to keep a healthy balance.
 ⠀⠀⠀⠀⠀⠀⠀⠀⠀
Kim’s Perspective: 
⠀⠀⠀⠀⠀⠀⠀⠀⠀
It’s been great. For the longest it felt surreal and unbelievable that we actually did it. I never really worried about paying off the mortgage because I knew that worst case scenario, it would be paid off in 15 years, which would’ve been when we were 45 (and that’s not a bad age at all). However, it’s been nice to know that it’s not something that Omar is stressing over anymore. And since it was one of his biggest dreams/goals, it’s nice knowing that I was able to support him 100% of the way in making this happen for us and our family. I’m glad this is something he wanted to pursue and that I was actually on board with it. What I’ve enjoyed most about it is being able to spend more money (of course 😆) because a lot of things were put on hold while we focused on the payoff. So now I feel like I’m at that point where I can make our house more of a home for us. It literally feels like we’re in a new space (mentally and physically) and we’re loving it.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Omar’s Perspective:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
This past year has probably been the best year I've had in life. I've been the least stressed I've ever been, but took on the most responsibility at work I've ever taken on which lead to a promotion and an increase in income. This boggles my mind as more responsibility at work usually means more stress. I feel like I’ve been able to focus on other areas of my life more (my health/weight as well as making more of an effort to maintain my relationships with friends/family). Most importantly, I realize the strength of my marriage.  With the state of dating/relationships these days, I realize I won the lottery with Kim.  She's an amazing wife and mother. We've always had a good relationship but we're stronger than ever.  We started from the bottom now we're here (in my Drake voice). 🎶 #thislifeafterdebt
After taking some time to think about what we want After taking some time to think about what we wanted to focus on for this year, we decided that our word for the year is health.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Overall we both want to continue making healthier choices when it comes to eating. And we both want to focus on exercising more than we have in the past and be way more consistent with it.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
At the end of the day, what’s money, financial freedom/independence and wealth if you’re not healthy? And we definitely have high blood pressure, diabetes, etc that run in our families. We have kids to live for and that’s what we plan to do to the best of our ability!
This is what our financial goals ended up looking This is what our financial goals ended up looking like for this year. We’re pretty pleased with the outcome and the fact that we still enjoyed ourselves throughout the year and even made some pretty big purchases (like that whole couch saga I shared in my stories 😆). We’re looking forward to seeing what the next year holds! #thislifeafterdebt
We didn’t officially choose a word for 2021, but We didn’t officially choose a word for 2021, but if we had to say a word that was our word for this year it would be “intentional” by far.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
At the end of 2020 and beginning of 2021 we were very intentional about pulling money from an inherited IRA so that our tax bill wouldn’t be ridiculous like it would have been if we pulled a lump sum at one time. We then used the money to help pay off our mortgage 8 days into 2021.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
What we were even more  intentional about was our plan for what we were going to do with our mortgage payment once we didn’t have a mortgage anymore. We didn’t want to frivolously spend that money. So we actually came up with our plan a couple months before making our final payment. But literally after that payment on January 8, 2020, our new mortgage-free budget was in full effect! So yea, “intentional” is definitely a good word to sum up 2021 for us. #thislifeafterdebt
Some of the things we automate are:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Our Budget:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
For the longest we use to type everything we were going to spend or save into our budget template. It wasn’t super time consuming but it wasn’t efficient when it came to our regular bills/expenses. Then one day we decided to prefill the template and copy and paste it month to month for our regular bills/expenses. All we have to do is add anything else we spend.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Savings / Investing:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Most of our savings/investing and even our gas and spending money our automated transfers. It beats having to go in and make multiple transfers to our personal accounts and our sinking funds. The 529 accounts for the kids and the Roth IRAs are automatically transferred. But for the brokerage account we have to manually transfer the money because it’s never the same amount each paycheck.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Bill Pay:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
I’ve never been a fan of bill pay because I don’t like companies having that type of access to my money. 🥴 And whenever they mess up and charge you too much, they’ll try to just credit your account instead of putting the money back in your bank account. 🙄 However, I’m a tad bit more trusting these days. Lol. Our home alarm had no option but to be auto drafted. Since the amount wasn’t much and is always the same price, I agreed. And the only other bill auto drafted is our cell phone bill after many many years (gasp! haha). Some of the other bills are paid via online bill pay via our banking account. #thisfinancialconfession
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Doing all of this has been a game changer and time saver. Are you team automate or team manual?
It’s been a minute since I’ve made a charcuter It’s been a minute since I’ve made a charcuterie board. So I figured Christmas brunch was the perfect time. And plus, that meant less time in the kitchen for me with cooking because I knew I was going to be cooking dinner today. #piecesofsomeday
Merry Christmas! And 2 pictures because it’s gua Merry Christmas! And 2 pictures because it’s guaranteed that someone isn’t going to be looking. 😆 #christmas2021 #piecesofsomeday
We purchased our house for $168.5k (after the down We purchased our house for $168.5k (after the down payment). We refinanced at $165k.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
If we took 30 years to pay it off, our total would’ve been $293k.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
If we paid the 30-year mortgage like a 15, then it would’ve been $225k.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
After we refinanced to a 15-year, if we took 15 years to pay it off, then our total would’ve been $205k.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Instead, we paid off our mortgage in a little over 7.5 years.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
We ended up paying a total of $200k with interest.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Paying $200k for this home with how it looked when we purchased it sounded a lot better than having to pay a total of $293k if we end up being here for 30 years! This was yet another factor that helped us decide to pay it off early. #thislifeafterdebt
Part of the reason we decided to refinance and eve Part of the reason we decided to refinance and even pay our house off early is because of the amount of money we were paying in interest on our mortgage. So of course, several months after we paid off the mortgage I began to wonder just how much did we really pay in interest. So I asked Omar if there was a way to figure it out. At first he was like, “Really Kim?” 😳 And of course I was like, “Ummm yea.” 😬 Lol.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Jun 2013 is when we bought the house. So there wasn’t much interest paid then.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
2014 and 2015 is still when we had the 30-year mortgage. It’s also the years that we paid the most interest. We refinanced at the end of 2015.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
2016 is when we made our first payment with the 15-year mortgage. It’s crazy how the amount of interest decreased based off that alone.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
2019 is when we decided to pay off our mortgage early. It was supposed to take 6 years. But instead we used RSUs and sped it up tremendously.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Jan 2021 is when we paid it off before our first payment would’ve been due. $27 was the last bit of interest we paid on our mortgage.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Grand total: $35,102.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
If we had continue to just make regular payments on the 15-year mortgage, we would’ve paid a total of $56,279. A difference of $21,177. 🙌🏽 🙌🏽 #thislifeafterdebt
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Comments

  1. Kris says

    November 26, 2018 at 6:10 pm

    Great to have you two back and blogging again!! I’m looking forward to reading your posts. And congrats on baby #2, hopefully the baby is doing well!! Are using cloth diapers again for the second baby or just disposables!! If we have a second baby, we’re planning on using cloth diapers again, it was a great experience!!

    • Kim says

      November 27, 2018 at 9:18 am

      Thanks Kris! It’s good to be back. The baby is doing well. He’s growing even faster than our first one did. Lol. We’re definitely using a combination of cloth and disposable diapers. As soon as he had his first blow out in disposables I knew it was time to start using the cloth diapers! And we’re enjoying using them just as much this time around.

  2. Katrice W. says

    November 26, 2018 at 7:26 pm

    Yay!!! You’re back. You guys came back much sooner than I expected. I enjoyed the read as always. Looking forward to having you guys back! Let the blogging begin LOL! Thanks for coming back.

    • Katrice W. says

      November 26, 2018 at 7:37 pm

      I just read the questions at the bottom in the tiny bold font LOL. Well, we gave you guys a brief update on where we are in regards to our budget and saving for the 3-6 months emergency fund. We plan to start budgeting a little differently at the start of the new year (fingers crossed, cough cough to my husband LOL). Hopefully at the start of the new year, we will be able to figure out a new plan to tackling the remaining debt (a new debt was added to our budget last year) we have left. I had to get another vehicle 😔. That situation basically used up a majority of our 3-6 months emergency savings, oh and we decided to go on vacation as well LOL.

      • Kim says

        November 27, 2018 at 9:22 am

        Lol. Thanks Katrice! And thanks for the support. I guess I need to make that question a little bigger, huh? In regards to your debt, y’all have paid off a lot already. So hopefully y’all will be able to come up with a plan to kick it into overdrive! I wouldn’t have missed vacation neither, but I’m sure everyone knows that at this point. Lol.

        • Katrice says

          December 1, 2018 at 6:42 pm

          You’re welcome!!!! Yes ma’am, you should make the text a little bigger lol. You are correct, we have paid off a significant amount of debt. I have to remember to keep that in mind. Having to borrow money to get my new vehicle was definitely not on list of things to do. I remember talking to you guys about it lol. I am truly hoping we are able to make a few adjustments and get back to adding to the savings and paying off our remaining debt.

  3. Yvonne says

    November 28, 2018 at 12:54 pm

    Great read…so glad you are back. I have always enjoyed your blog…We are retired and enjoy using our budget..Best thing ever happened to us…You both got us started and for that we are forever grateful….again…welcome back..

    • Kim says

      November 29, 2018 at 10:28 am

      Thanks! It’s good to be back. I’m glad you’re continuing to follow along and still enjoy using your budget! Thanks for your support.

  4. Penny @ She Picks Up Pennies says

    November 28, 2018 at 9:51 pm

    Hi, friends! I am so glad you are back. AND CONGRATS! What wonderful baby news. (runs to Instagram!)

    I can’t wait to hear more from both of you!

    • Kim says

      November 29, 2018 at 10:29 am

      Hi Penny! Thank you and THANK YOU! I promise to let you know when there’s a picture up. Haha.

  5. Shamaine says

    November 29, 2018 at 9:03 am

    Welcome back guys and congrats on the new baby. Looking forward to reading the posts which are very informative and inspiring. Still having some struggles with the savings but working on getting a new job. My baby starts high school soon as plays basketball and soccer so I have lots of savings to do!!! Love you both. Say hey to Uncle Merchell and aunt Yvonne for us.

    • Kim says

      November 29, 2018 at 10:33 am

      Hey Shamaine. Thank you! I’m glad you enjoyed the past posts and hope the same for the upcoming posts. What are your struggles with the savings? Hopefully the new job will come through soon and help with that as well. I can’t believe your baby is starting high school already! High school can definitely be expensive with extra activites and dues for everything. I don’t know if you saw a past post, but there’s one about “Sinking Funds” that might be useful in helping with saving money for things. Love you too!

  6. GYM says

    December 4, 2018 at 1:07 am

    Congrats on the second baby, two boys!! It must be busy!
    I’m glad you guys are back too, looking forward to reading more 🙂

    • Kim says

      December 4, 2018 at 8:46 am

      Thank you! Yes it’s definitely busy, but not yet because he’s a boy. More so because we have a 4-year-old and a baby. I’m sure it’s coming though. Lol. We’re glad to be back too.

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

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See what’s happening on Instagram

thinkingofsomeday

As of 1/8/2022, it’s been one year since we beca As of 1/8/2022, it’s been one year since we became mortgage free. What better way to celebrate than a date night in our paid off home?! 😏
⠀⠀⠀⠀⠀⠀⠀⠀⠀
So how does it feel?
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Financially, we invested the most money we've ever invested. We also increased our lifestyle a bit as well to keep a healthy balance.
 ⠀⠀⠀⠀⠀⠀⠀⠀⠀
Kim’s Perspective: 
⠀⠀⠀⠀⠀⠀⠀⠀⠀
It’s been great. For the longest it felt surreal and unbelievable that we actually did it. I never really worried about paying off the mortgage because I knew that worst case scenario, it would be paid off in 15 years, which would’ve been when we were 45 (and that’s not a bad age at all). However, it’s been nice to know that it’s not something that Omar is stressing over anymore. And since it was one of his biggest dreams/goals, it’s nice knowing that I was able to support him 100% of the way in making this happen for us and our family. I’m glad this is something he wanted to pursue and that I was actually on board with it. What I’ve enjoyed most about it is being able to spend more money (of course 😆) because a lot of things were put on hold while we focused on the payoff. So now I feel like I’m at that point where I can make our house more of a home for us. It literally feels like we’re in a new space (mentally and physically) and we’re loving it.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Omar’s Perspective:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
This past year has probably been the best year I've had in life. I've been the least stressed I've ever been, but took on the most responsibility at work I've ever taken on which lead to a promotion and an increase in income. This boggles my mind as more responsibility at work usually means more stress. I feel like I’ve been able to focus on other areas of my life more (my health/weight as well as making more of an effort to maintain my relationships with friends/family). Most importantly, I realize the strength of my marriage.  With the state of dating/relationships these days, I realize I won the lottery with Kim.  She's an amazing wife and mother. We've always had a good relationship but we're stronger than ever.  We started from the bottom now we're here (in my Drake voice). 🎶 #thislifeafterdebt
After taking some time to think about what we want After taking some time to think about what we wanted to focus on for this year, we decided that our word for the year is health.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Overall we both want to continue making healthier choices when it comes to eating. And we both want to focus on exercising more than we have in the past and be way more consistent with it.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
At the end of the day, what’s money, financial freedom/independence and wealth if you’re not healthy? And we definitely have high blood pressure, diabetes, etc that run in our families. We have kids to live for and that’s what we plan to do to the best of our ability!
This is what our financial goals ended up looking This is what our financial goals ended up looking like for this year. We’re pretty pleased with the outcome and the fact that we still enjoyed ourselves throughout the year and even made some pretty big purchases (like that whole couch saga I shared in my stories 😆). We’re looking forward to seeing what the next year holds! #thislifeafterdebt
We didn’t officially choose a word for 2021, but We didn’t officially choose a word for 2021, but if we had to say a word that was our word for this year it would be “intentional” by far.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
At the end of 2020 and beginning of 2021 we were very intentional about pulling money from an inherited IRA so that our tax bill wouldn’t be ridiculous like it would have been if we pulled a lump sum at one time. We then used the money to help pay off our mortgage 8 days into 2021.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
What we were even more  intentional about was our plan for what we were going to do with our mortgage payment once we didn’t have a mortgage anymore. We didn’t want to frivolously spend that money. So we actually came up with our plan a couple months before making our final payment. But literally after that payment on January 8, 2020, our new mortgage-free budget was in full effect! So yea, “intentional” is definitely a good word to sum up 2021 for us. #thislifeafterdebt
Some of the things we automate are:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Our Budget:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
For the longest we use to type everything we were going to spend or save into our budget template. It wasn’t super time consuming but it wasn’t efficient when it came to our regular bills/expenses. Then one day we decided to prefill the template and copy and paste it month to month for our regular bills/expenses. All we have to do is add anything else we spend.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Savings / Investing:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Most of our savings/investing and even our gas and spending money our automated transfers. It beats having to go in and make multiple transfers to our personal accounts and our sinking funds. The 529 accounts for the kids and the Roth IRAs are automatically transferred. But for the brokerage account we have to manually transfer the money because it’s never the same amount each paycheck.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Bill Pay:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
I’ve never been a fan of bill pay because I don’t like companies having that type of access to my money. 🥴 And whenever they mess up and charge you too much, they’ll try to just credit your account instead of putting the money back in your bank account. 🙄 However, I’m a tad bit more trusting these days. Lol. Our home alarm had no option but to be auto drafted. Since the amount wasn’t much and is always the same price, I agreed. And the only other bill auto drafted is our cell phone bill after many many years (gasp! haha). Some of the other bills are paid via online bill pay via our banking account. #thisfinancialconfession
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Doing all of this has been a game changer and time saver. Are you team automate or team manual?
It’s been a minute since I’ve made a charcuter It’s been a minute since I’ve made a charcuterie board. So I figured Christmas brunch was the perfect time. And plus, that meant less time in the kitchen for me with cooking because I knew I was going to be cooking dinner today. #piecesofsomeday
Merry Christmas! And 2 pictures because it’s gua Merry Christmas! And 2 pictures because it’s guaranteed that someone isn’t going to be looking. 😆 #christmas2021 #piecesofsomeday
We purchased our house for $168.5k (after the down We purchased our house for $168.5k (after the down payment). We refinanced at $165k.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
If we took 30 years to pay it off, our total would’ve been $293k.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
If we paid the 30-year mortgage like a 15, then it would’ve been $225k.
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After we refinanced to a 15-year, if we took 15 years to pay it off, then our total would’ve been $205k.
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Instead, we paid off our mortgage in a little over 7.5 years.
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We ended up paying a total of $200k with interest.
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Paying $200k for this home with how it looked when we purchased it sounded a lot better than having to pay a total of $293k if we end up being here for 30 years! This was yet another factor that helped us decide to pay it off early. #thislifeafterdebt
Part of the reason we decided to refinance and eve Part of the reason we decided to refinance and even pay our house off early is because of the amount of money we were paying in interest on our mortgage. So of course, several months after we paid off the mortgage I began to wonder just how much did we really pay in interest. So I asked Omar if there was a way to figure it out. At first he was like, “Really Kim?” 😳 And of course I was like, “Ummm yea.” 😬 Lol.
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Jun 2013 is when we bought the house. So there wasn’t much interest paid then.
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2014 and 2015 is still when we had the 30-year mortgage. It’s also the years that we paid the most interest. We refinanced at the end of 2015.
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2016 is when we made our first payment with the 15-year mortgage. It’s crazy how the amount of interest decreased based off that alone.
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2019 is when we decided to pay off our mortgage early. It was supposed to take 6 years. But instead we used RSUs and sped it up tremendously.
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Jan 2021 is when we paid it off before our first payment would’ve been due. $27 was the last bit of interest we paid on our mortgage.
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Grand total: $35,102.
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If we had continue to just make regular payments on the 15-year mortgage, we would’ve paid a total of $56,279. A difference of $21,177. 🙌🏽 🙌🏽 #thislifeafterdebt
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