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Financial Preparations To Make For A New Baby

August 15, 2017 By Thinking of Someday

The age-old question – is there ever a right time to have a baby? I don’t know that there’s ever a right time per se, but there are definitely some times that are better than others. And there are many preparations that need to be made in preparing for a new baby. Financial preparations are an important part of them.

For us, we tried to make sure that we were in the best financial situation that we could be in without sacrificing having to wait so long to grow our family of two. In this post, I will discuss some of the things we did in regards to financial preparations to make for a new baby.

Budgeting

I can’t stress this single topic enough – Budget. Budget. BUDGET! We discuss personal finance a lot here on Thinking of Someday. Why? Because it affects all facets of your life, including family and having a baby. When people have a baby they want to give them the best of the best, even better than what they had coming up. So why not start your child’s life off on the right foot by being an example that they can follow on what to do financially?

That aside, since I am supposed to be talking about how budgeting helps to prepare financially for a new baby – Simply put, budgeting does help. It helped us because we were able to plan for and save for the items that we knew we were going to need. The same goes for some of the small items that people don’t typically buy as baby shower gifts. Budgeting also helped because it caused us to look at our overall financial picture at the time and start the discussion about how we were going to afford daycare or ways to avoid daycare. If we had not been budgeting at the time it probably would’ve been harder to see if we could or couldn’t truly afford daycare.

** side note: If you don’t have a budget template to use, you can check out the ones available in the shop and check out How To Get Started With Doing A Zero-Based Budget to help you get started!

Budgeting does what budgeting always does – it allows you to be more efficient at pointing your money towards a certain goal. In this case, the goal is to save as much money as you can. Which leads us to the next financial preparation – stop paying off debt while pregnant.

Stop Paying Off Debt While Pregnant

When we found out I was pregnant we stopped paying extra towards my student loans (the only debt we had other than our house). Instead, we saved the money until after I had our child and everything was A-OK with baby and I. It was definitely tempting to pay extra on the student loans instead of slowing down on paying them off. However, we found it wise to save the money “just in case” and then after all was well we resumed paying off the debt.

If you aren’t already paying off debt, now isn’t the time to start. Instead of spending money on whatever you’re spending it on, focus on saving your money instead. Why? For the same reasons I give for not continuing to pay off debt if you are. Once your baby is born and both you and baby are A-OK… You might want to highly consider getting out of debt. And also put you some money aside for emergencies. When we were getting out of debt we had $2000 in our savings account in case of an emergency. Emergencies can happen at any time, especially if you have kids. If you cut back on unnecessary spending while you’re pregnant and save the money instead, then you should have a nice lump sum of money to help you get started with a mini emergency fund and your debt free journey.

Understand Your Health Insurance

Understanding your insurance is an important part of preparing for a new baby. To start with, you want to make sure you choose a provider who is considered in-network as this will help with your costs. Find out what’s expected from you in regards to your co-pays and deductible. This will also give you an idea of what your insurance provider contribution will be.

Once you’re at the hospital for delivery, unless it’s required beforehand, be prepared to also pay your hospital co-pay as well. This is what happened to us. Since I work at a hospital and Omar and I had already done our research about my insurance, I wasn’t surprised when someone came to my room to talk about my payment… And it wasn’t cheap! However, we were prepared.

Choosing Insurance For The New Baby
You’ll also need to decide if you’ll be adding your new bundle of joy to your insurance or your spouse’s insurance. Our son was under my insurance for delivery, but we added him to Omar’s for everything afterward. Once that’s decided, you’ll need to find out when exactly you should add your newborn to your or your spouse’s insurance because you don’t want any issues with delays (or insurance paying their part). And not to state the obvious, but find out how much it’ll cost. This might be the determining factor of who’s insurance the baby will be added to. And yet again you might have to take a look at your budget to see if you need to make any adjustments.

** side note: Don’t forget to research pediatricians before your baby is born. And of course be sure to choose someone who is in network.

If you and/or your spouse don’t have insurance, then definitely start looking into what options are available to you. Don’t wait until your baby is born as this can just cause added, unnecessary stress.

Plan For Maternity/Paternity Leave

If you’re welcoming a new baby into your life, surely you’re going to want some time off from work to enjoy your baby. And if you’re mom, you will also need this time off from work so that you can recover. If you’re dad, you’ll probably want some amount of time off from work, if possible, so that you can bond with your new baby. This will also be beneficial for being able to help mom with things she might need help with as well. Regardless, maternity and/or paternity leave are something that has to be planned for.

Short Term Disability / PTO / FMLA
For starters, do you have short term disability? How much will it cover and when does it kick in? If you don’t have it, is it possible to sign up for it prior to the baby being born? In our case, since we knew when we wanted to start trying to have a baby, I signed up for short term disability during open enrollment since that was in November for me and we were going to start trying the following January.

Now is also a good time to see if your job offers FMLA – you might be able to be off for up to 12 weeks, but you’ll have to use your vacation time / PTO to do so. So start saving up your PTO if possible because this can help to cover your bills while you stay home enjoying your new baby.

If dad wants to take some time off, find out if dad’s job offers any type of paternity leave or if he’ll have to use some vacation time or FMLA if that’s an option.

Planning for maternity/paternity leave by way of budgeting is a must. Even if you have short term disability it might not provide you with enough money to cover your regular bills and expenses, especially if you want to be off from work more than the typical 6 – 8 weeks that’s provided for having a newborn. Budgeting can help you figure out how much you need to be saving to cover your bills and expenses while you and/or your spouse are out of work.

Financial Preparations To Make For A New Baby – OUR STORY

Throughout this post, I’ve mentioned several instances of what we did and why we did it. What I didn’t do was go into detail about just how important it ended up being for us personally.

When we found out I was pregnant we were beyond excited and scared at the same time. Our family and friends were just as excited for us. I had a pretty good pregnancy with the exception of dealing with morning sickness for 8 months – Yes, 8 months! Luckily I got over it by then because someone I didn’t expect to get sick, did. Who was it? None other than my husband, Omar. I’ll let him share the story…

The Cloud Over Our Joyous Occasion
There I was sitting in the car crying as hard as I had cried in years. I had turned 30 earlier that year, Kim and I celebrated our first full year in the home we owned, and we had just brought our first child home a few weeks ago. Life was supposed to be good.

Instead, I was driving to the hospital to schedule a biopsy. During Kim’s last month of pregnancy, my temperature started shooting up to 102+ throughout the day. I was taking the max dosage of Tylenol and Motrin per day just to keep my temperature in check.

I had been to my primary care doctor several times, specialists, the emergency room when my temperature went over 104F and taken several tests. No one could tell me what was wrong with me. And of course, with the help of Dr. Google, we were already fearing the worse.

That’s when one of my doctors decided to schedule me for a biopsy because one of the lymph nodes under my neck was about the size of a large strawberry. And another specialist had already told me that it wasn’t mono (the kissing disease). So they prepared me for the possibility that it could be lymphoma (cancer).

The Biopsy & Results
So there I was in my car going to get pre-registered for my biopsy and wondering if I would get to see my son grow up and how Kim would handle my passing. Especially since she was already dealing with her dad being in hospice care.

 I was terrified of the results of the biopsy but part of me was okay with whatever happened. If I died my life insurance would be enough to pay the house off and leave Kim with enough to live off the interest of what she invested it in. Also, because we stopped paying off debt and saved as much as we could we had 22K in our emergency fund. We could fight through this with that much cash and health insurance.

As if things couldn’t get any worse, once I had my biopsy, my doctor talked to Kim afterward. Kim cut straight to the chase and asked, “Off the record, do you think it’s lymphoma?” With a deep sigh, he said, “Yes.” And then he went on to talk about how the success rate of the treatment was very good and he would do everything he could to help me feel well. He had such empathy for me as well because he and his wife had just had their first son too.

After waiting for what seemed like an eternity although it was only 2 days because my doctor had the results rushed… it turned out I didn’t have cancer (whew!), but instead some rare disease that had to run it’s course. However, I had a hefty sum of medical bills but an emergency fund large enough to cover it thankfully. I’m so glad we had that money there. It would have made a difficult situation even harder.

Final Thoughts

Although there are many preparations that need to be made in preparing for a newborn don’t forget about the financial aspect. Planning for the financial part of a new baby will help make the experience less stressful and more enjoyable.

What financial preparations are you making (or did you make) for your new baby?

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Filed Under: Life + Home Tagged With: life tips, newborn, parenting, zero-based budget

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.
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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.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
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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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.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
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.
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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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