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October Mortgage Pay Down

November 1st, 2014 at 02:45 pm

In the month of October we paid off $1,239.30 in principal on our mortgage. All snowflakes earned this month are included in the above figure. The remainder was from our regular income.

The goal since January has been to pay off $13,993 in principal in 2014. We have now paid off $12,480.23 and have just $1,512.77 left to pay.

I know we will meet the goal. I know this because I expect this money are to be applied before the end of the year:

Nov Regular Principal $476
Nov Extra Principal $103 (11/1)
Nov Extra Principal $275 (11/15)
Dec Regular Principal $478
Dec Extra Principal $103 (12/1)

This leaves just $78 needed to make it to goal. I know of two checking rewards that will equal $250 that I should earn by the end of December...so that is more than enough. That doesn't include my normal ways of accumulating some extra funds! I would prefer not to make that $275 principal payment in November at all. I may not if it looks like I can make the goal without it.

It's fun to see a goal come to fruition. I will be very happy when is actually here!! How are your goals coming along for 2014?

4 Responses to “October Mortgage Pay Down”

  1. FrugalTexan75 Says:

    Great job on whittling away at the mortgage!

  2. Beawealthywarrior Says:

    Great job! I'm thinking about start my 52 week savings challenge again for Christmas 2015. Since I normally start shopping in November, if not earlier Smile

  3. Buendia Says:

    That is fantastic!!

  4. snafu Says:

    Kudos, it's incredible to pay down $ 13,339. of the principal of a still very new mortgage in just one year. I'm so impressed with the discipline you've used to track down and use the cash backs of the various CCs or 'snowflakes' from so many sources which support the approximate $1,236. of 'extra principal' from salaried income. i hope your family appreciates your effort.

    Is it your plan to continue to accelerate payments to mortgage principal in 2015?

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