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November Mortgage Update

December 1st, 2014 at 06:11 pm

The goal for 2014 has been to pay down $13,993 in principal on our mortgage (our only debt). In November we were able to knock off $738.02 from that balance. The principal portion of our regular payment was $477.48, extra found money (snowflakes) totaled $156.82 and the remaining amount, $103.72 was extra we chose to add to our regular payment to help meet the goal.

We have now paid off $13,218.25 of our 2014 goal. We have just $774.75 left to pay to meet the goal. I expect the principal portion to be about $480. Our regular payment will also include an extra principal payment of $103.72 sent in at the same time. This leaves approximately $191.03 left to meet goal.

I already have a $40 payment to make towards that goal, so that means another $151.03 left to figure out. We have the cash to meet the goal if needed, but I'd like to find some snowflakes to round out the final amount. I expect this will not be too hard as I was able to accumulate that much in November!

Did you have a debt pay off goal this year? Are you close to meeting your goal? Will you make a goal for next year?

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