It’s All in How You Look at It
As regular readers will know, one of my goals is to pay off our mortgage by December of 2011. (Or sooner!)
I’ve had that goal for several years, in fact, but it just kind of sat off to the side most of the time. Every now and then it’d pop up to say, “Hey, don’t forget about me!” and then go quietly back to the land of procrastinated goals.
In fact as recently as this past January, the only actionable step I was taking toward that goal was to send at least $35 extra a month toward the mortgage.
Then one day this summer, I woke up and realized that December of 2011 was almost here.
$35 extra a month wasn’t going to cut it.
So I opened up my Pay Off Debt snowball app and experimented a bit to figure out just how much we’d have to send to the mortgage to meet our goal date.
The answer was something like an extra $5000 per month.
In other words, we’d have to send at least $5800 per month toward the mortgage, starting immediately. Plus our self-escrow amounts for taxes and insurance.
We sure didn’t have that kind of money laying around, but I figured there were two ways to look at it:
- We could get depressed and give up on reaching our goal date.
- We could figure out how to make an extra $5000 a month after taxes, starting immediately.
I decided to go with option two.
So far that’s involved brainstorming with my husband, both of us working harder and doing things on the side, working on improvements for my app, getting a raise, agreeing which planned purchases we’d hold off on and which we would continue with, and looking for extra room in our spending plan.
While there’s no guarantee that we will meet our goal, I can guarantee that we won’t stop trying. Hard.
Because it’s all in how you look at it, and then what you decide to do about it.