Why We Want To Pay Off Our Mortgage Early

Contributor: Nurse Frugal at Ladies Go First Paying off the Mortgage early, that’s what we’re doing and here’s why. I vividly remember the day when I came home from work and my husband was sitting behind the computer with a perplexed look on his face.  He looked up at me and asked “I don’t know, do you think we should pay off the house loan too?” Here Is Some Background………… A few weeks earlier we had just started listening to Dave Ramsey, a radio host and author that believes that becoming debt free is the key to financial freedom and building wealth.  We had just emptied out our savings accounts to pay off the two brand new cars we had just financed. My heart sank in my chest, was my husband taking crazy pills before I came home?  Did he realize that paying off the mortgage would mean that we would have to work lots of overtime for years and years to ultimately pay off the $233,346.60 owed on our mortgage?!?!  He proceeded to do a mortgage calculation that revealed that if we didn’t pay off the house early we would pay $118,123.78 in interest throughout the life of our mortgage, […]

My Childhood Shaped My Financial Future

My childhood shaped my financial future after seeing my parents struggle to make ends meet for our family. I am now 27 years old with a young family (8 and a half month pregnant with a 29-year-old fiancée and a 1-year-old) and we are totally debt free! As most parents would do, mine never wanted to communicate their financial problems.  My mom always seemed to find a way to make everything into a game. She would always bake with us, turn her old clothes into costumes, make play dough, and cover the walls in newspaper and let us color in the pictures! I think when children are that young as long as you keep them busy in a creative way they don’t mind if it’s costing $100 or its free. On the flip side I remember my dad taking me to kindergarten on his old beat up motor bike that hardly ever started and yelling…hold on tight!  The reason was because our car was always broken down and my parents could not afford to fix it. Along with that I remember in my childhood my mom making it into a game when it would rain. She would have us run and […]

How To Say No When You Are On A Budget!

Photo source For some say the word budget and they turn their head the other way. It’s almost taboo to be on a budget for some. They think budgets are for poor people, I don’t need to budget. Ya right, time to get a grip! I’ve never had a problem telling anyone “No” but sometimes it can get frustrating when people just don’t understand. Have you ever met someone who tells you what they do for a living  and you automatically assume they have lots of cash? Likely, we all do it but is it the correct way to be thinking?- No Why is that not the correct way to think? It’s simply not always the case and we don’t know what happens in everyone’s budget and life. How do you know they have a healthy bank account? Can you read minds?  (if so please click here and contact me…. I could use your ability) There are lots of people earning 6 figure incomes but are in debt because they spend more than they earn or have massive student loans to pay back etc. Education is not cheap and most pay for it for years. Another example is when you say oh […]

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