Personal Finance

The Over-Achiever In Me

Today I updated my 5-year mortgage payoff goal sheet which can be found here. As I was playing with the numbers, I wondered what would it take to pay it off an additional 6 months early. When I alway pictured paying off my mortgage, I always dreamed of doing it in 15 years. September 2020 would be exactly 15 years, but I’ll “settle” for any time within 2020. Because of my desire to pay off this debt asap and general over-achieving nature, I started looking at what it would take to be done with the mortgage once and for all by December 2020. “All” I would need is an extra $369.10 a month to make this new goal a reality. 

I’ve been down this path. I am constantly struggling with whether or not to make my debt-free journey hard or easy. I could sit back and just use the money I am earning to pay it off. Or I could constantly focus on finding extra funds and reduce spending so that I can greater monthly contributions to use towards the mortgage. Some days I am super dedicated to my goal; other days, I just want to enjoy an overpriced drink from Starbucks.

Currently, I think I will just stick to my goal of June 2021. Perhaps as I get closer to the date, the motivation will kick back in. What path are you taking for your financial goals?


4 thoughts on “The Over-Achiever In Me

  1. Nothing clicked for me until I made it a game. I think I’m just a kid at heart! When we did the Dave Ramsey baby steps including paying off the mortgage, we went nuts with it. I literally would come home from an out of town day trip and move $5 to the mortgage online because I didn’t go to Starbucks!! I made as many payments a month as I could and kept running the amortization spreadsheets to see the savings. Now we’re doing it in reverse – paying ourselves and tracking the progress. It’s fun and it’s addicting! But seriously consider having some fun with it!! (seriously have fun …. mmmmm)

    Liked by 2 people

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