Mortgage Payoff Progress and Quarterly Goal Update
As you may know, we’re aiming to pay off our mortgage by the end of this year. We’ve had that goal for a few years now, but only really got it in gear starting late last summer.
As of this very moment, we’ve paid 38% of it off. Our target was to pay an additional $5000 per month toward it, which we haven’t always hit. If we do consistently hit that target, we’ll be just a little off track with a planned debt-free date of February 2013.
I have to admit, we’d be on-target or ahead of schedule if I didn’t love traveling so much. Guess that means I need to bring in more money so I can both travel and hit our mortgage goal.
Which of course is directly related to my single stated goal for 2011:
“By the end of 2011 I will have at least quadrupled my total 2010 gross non-employment income by improving the quality and sales of my existing side projects (debt snowball iPhone app and blogging) and by creating at least one new side project that I carryout to completion.”
On that front, it’s been a mixed bag. I hit the income goal this month, but not for January or February. Still, I’m ecstatic about this month, and am working hard on making that happen for the year.
How are you coming on your SMART goals for the year? Have you made any changes or good progress? It’s always good to check in on goals at regular intervals to see.
I am so proud to you. ( said by my eldest when she was four it has kind of stuck) Wow $5000.00 a month! You are screaming! I am way ahead on my goals this year, but always need to stay motivated. There always seem to be someone out there to take my hard earned money. My kids! Keep up the good work and the great posts.
Well we haven’t hit that number consistently yet! But we’re making good progress so I’m happy about that :)
Doing really well Jackie…$5k this month is amazing!
We love to travel too….which does slow down our mortgage payoff progress! Need to find a way to do both :)
Where’s your favorite place to travel? (I’m guessing Portugal, but you never know!)
Congratulations! My progress toward my goals is doing very well. I changed my updates to quarterly which is coming up.
Glad to hear you’re doing well on your goals. I look forward to the update then :)
Wow that is amazing! No harm in delaying that pay off for some life memories…especially when you are making those kinds of strides
Hehe, yeah but (and I can’t believe I’m saying this) it’s a good thing I don’t have that much vacation left, otherwise we’d be in danger of delaying still more ;)
Wow! What a great goal. Any tips on how you’re finding that kind of money to apply each month?
Work like a dog? :)
That’s basically the method we’re using…
Cut expenses would be a good thing to do too, but I haven’t done so well on that front.
I’m really working on fitness and tennis this year. I’ve been super serius for the past 3 months ,and I think I will continue.
I don’t have an online income goal funny enough. My goal is to just keep things running until I retire from my day job, so I have something to do.
Maybe I’ll shoot for $10,000 a month in online income on average in a years’ time. I donno.
Nothing wrong with not having an income goal. I only do because it will allow me to reach my other goals.
Wow Jackie… an additional 5k a month on the mortgage sounds awesome! I definitely wish I could do that… unfortunately my technical skills arent up to par, so developing a smartphone app is outta the question for me ;)
Congrats on all your progress!!!
I’m hoping will be able to hit the $5K/mo goal more consistently. And you could always develop a smart phone app if you wanted to — I don’t have any coding skills either so I outsourced that part.
This is great and I’d love to hear more on how you developed your app and what you outsourced.
I need to write about it in more detail (and put up a section specifically about my app, too) but in the meantime you can check out these two posts if you want to know a little more:
https://www.moneycrush.com/how-to-make-an-iphone-app-when-you-dont-know-how-to-program/
https://www.moneycrush.com/a-tale-of-two-apps-or-why-you-shouldnt-automatically-give-up/