Central AC complete installation-$10K
This is a welcoming "want". We are attempting to make our lives more enjoyable as we no longer have to sacrifice so much in life.
Front porch deck replacement- $5K
We decided to use "trex" decking material. It's more expensive but extremely durable.
This is a "need". We uncovered a badly constructed porch frame and an electrical receptacle just hanging under the decking.
This will conclude home renovations for a while. We want to do a few more things but minor in nature.
Total: $15K paid in full using cash
Mortgage Payoff Extravaganza:
We took half of our savings to pay down our mortgage quite a bit. We added smaller sums and we are making tons of progress. We shaved 156 months from the life of the mortgage. Hoping to be mortgage-free at the end of 2024.
Viewing the 'Mortgage Payoff Extravaganza' Category
This month is the beginning of a new financial goal for us; mortgage principal pay down. I've formulated a plan to meet this goal in 5 years, but hopefully in less time.
If we were to pay our mortgage with no extra principal payment, we will pay $192K in interest at the end of the 30 year term. With our 5 year plan, we will pay $56K in interest. Hopefully, we can crush this sucker in less time but funding retirement and taking a one week vacation is a priority as well.
I am definitely inspired to reach this goal before my 55th birthday.