My wife and I are putting all our extra money towards paying off our home mortgage! It’s kinda confusing for a lot of people why we would do this but here’s why:

🏠GET MY MORTGAGE PAYOFF POSTER HERE🏠
Etsy Download: https://cardcorridor.etsy.com/listing...
I'll have the Etsy Physical Poster link up shortly but you can purchase a poster through the YouTube Merch Shelf below the video

🔥GIVEAWAY DETAILS🔥
Like this video and comment on why you want to pay off your home early! Include #homepayoff in your comment so it's easy for me to track. And tell me what you'll do with your income when you no longer have a house payment!

Why we're paying off our home:
Since we got married 6.5 years ago, my wife and I have been following Ramsey Solutions’ baby steps. We built a starter emergency fund (baby step 1), paid off our debt (baby step 2), built a full 3-6 month emergency fund (baby step 3), and began saving 15% of our income for retirement (baby step 4) and saving for our kid’s college (baby step 5). Baby step 6 is pay off the home early! So that’s what we’re starting now.

In 2020, after we saved our full emergency fund, we bought a home on a 15 year fixed rate mortgage where we put 20% down to avoid PMI. And our interest rate was 2.99%. We bought it for $192,750 so with our downpayment, our full mortgage was $154,200. Since then, we’ve put about $40k into the home and property because it was old and needed a lot of work.

But we’re done with home improvements for now! So here begins our early payoff. Currently our mortgage balance is $115, 650. Our goal is to participate in “Transfer Tuesday” every week. We’re going to put SOMETHING towards our mortgage, no matter how much. But our goal is $200 per week. That would cut 5 years and 8 months off our loan and save us $11k in interest! Our STRETCH goal is much more ambitious. We want to pay off our home in 3.5 years in time for celebrating our 10 year anniversary. That will require about $500 per week extra on our principal. But that’ll save us a total of 8 years on our loan and over $16k. We are so fired up to pay this thing off.

Some people will wonder why the heck we would pay off our home when we have such a low interest rate and could invest our money to earn a greater return. And simply, it’s because we want to be TOTALLY debt free, including the home.

Timestamps:
0:00 - Intro
0:24 - Starting Baby Step 6: Pay off the House!
0:56 - ALL Our Mortgage Numbers
1:42 - Our Mortgage Payoff Tracker Poster
2:55 - Our Mortgage Payoff Plan and Goals!📒 Notes and Resources 📒

⚡️MY FAVORITE DEBIT CARDS⚡️
🎬Juno Cashback Debit Card Review:    • The METAL Debit Card with 5% CASHBACK...  
🎬Discover Cashback Debit Card Review:    • Discover CASHBACK DEBIT Card Review /...  

⚡️BEST FINTECH REVIEWS⚡️
🎬Best Budget Apps!    • BEST Budget Apps of 2022! Everydollar...  
🎬Best Cashback Debit Cards!    • Best CASHBACK Rewards Debit Cards of ...  
🎬Best Bank Accounts to Fight Inflation:    • BEST Banking Interest Rates I'm Using...  

⚡️GET FINANCIAL COACHING⚡️
If you need some help with getting your debt worked out, set up a session with me. I legitimately want to help. www.balefinancialcoaching.com

⚡️FOR INQUIRIES⚡️
For business and coaching inquiries, hit me up:
[email protected]

⚡️CHECK OUT THE BLOG⚡️
http://balefinancialcoaching.com/blog/

⚡️DISCLAIMER⚡️
Do your own research. My content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional financial advisor when considering your retirement options. Though I teach financial principals, I am not an investment advisor and none of my advice constitutes legal, tax, or investment as a professional. Everything I share is based on my own research and is intended for your benefit. Any financial technology reviews are intended for your benefit. Research each product yourself to determine if they are right for you.

⚡️DOWNLOAD MY FREE KINDLE BOOK⚡️
Graduated and Clueless: How to live like an adult when life is confusing
https://www.amazon.com/Graduated-Clue...

⚡️EQUIPMENT I USE⚡️
This is the equipment I use with Amazon affiliate links. If you choose to purchase anything using these links, you will not be charged anything financially, but will be able to support my channel in a small way!

Sony A7S II: https://amzn.to/38PM8Sl
Neewer 660 LED bicolor lights: https://amzn.to/3o4KB1a
Rokinon 12 mm lens: https://amzn.to/38Qpauy
Magnus VT 4000 tripod: https://amzn.to/3aXmNsj
Rode Video Mic: https://amzn.to/3b0nfWI