Well…after 13 years to the date of buying our house, we have officially paid it off! YA!!!! It is hard to believe! After all the hard work of paying extra, putting the multiple income streams towards it, and making a lot of sacrifices. It still feels surreal that it is true.
I felt like I wanted to shout it from the roof tops that we had paid it off, and was wondering if I could get on Dave Ramsey's show next week. :) haha
In all seriousness, it feels GREAT to finally have this debt weight off our shoulders and we can move on towards other savings goals. As Dave Ramsey always says, “live like no one else, so that later you can live like no one else.”
We are already looking at going on a vacation in the fall, and having fun discussing what we will do next. It is nice just to have a lot more freedom now that the debt is paid off. I'm ready to start living like no one else! YA!
Next week, I'll post on my top 10 things that helped me pay off my mortgage…but in the mean time, here is a breakdown of where we now sit with our mortgage pay off:
Mortgage Pay Off Countdown
Balance: $7,888
Paid last month: $7888
Extra Money That Was Applied: $6,501
Goal of Pay Off Date: August 2018 – (new estimate: June 2018) – Completed 3 months ahead of schedule!!!!
Here is a breakdown of my passive income streams from this past month and how we are did:
2018 Goals
- Pension – [2018 Goal $1308] [made $436 in 2018] – didn't lift a finger this past month to cash in on my previous employer's pension and collected $109. Sweet!
- Blog Income – [2018 Goal – $7500] – [made $2,610 in 2018] – the blog has been a workhorse for me and continuing to bring in a majority of my side hustle income.
- AirBnB – [2018 Goal $10,000] – [made $1,740 in 2018] – April bookings increased in April, and May/June are on fire! I'm expecting the best summer with AirBnB this year! Definitely will help in paying for private schooling and investing.
- Sell Stuff – [2017 Goal $2500] – [made $14 in 2018] – didn't sell anything this past month, so nothing to report here. :(
- Peer-to-Peer Lending – [2017 Goal $25] – [made $6.06 in 2018] – this investment is continuing to cool off for me. I can't get out of this investment fast enough and move onto investing in dividend stocks!
- YouTube Channel – [2017 Goal $25] – [made $29.25 in 2018] – as of February 28th our YouTube channel is now demonitized, since we don't have 1000 subscribers! So if you could…subscribe to our channel! :)
- Schwab Monthly Income Fund – [2018 Goal $25] – [made $2.89 in 2018] – couldn't be more pleased where this passive income stream has gone over the past two years! As I continue to put in loose change, it continues to produce more and more! Boom!
This is my report of how I'm making side income and using that to pay off my mortgage. I'd be interested to hear what side hustles you've got, and what you are doing with your extra cash! Leave a comment below!
Charlie and his wife use the 2 Checking Account System to manage their finances – check it out for free.
Check out Robert G. Allen's book, Multiple Streams of Income, that Charlie recommends. Allen researched hundreds of income-producing opportunities and narrowed them down to ten surefire moneymakers anyone can profit from.
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2 Comments
It was a lot of hard work that the entire family had to make sacrifices on.
Congratulations! So happy your efforts paid off ( no pun intended). It’s an incredible accomplishment.