Brooks and I have had a goal for a little over seven years.
7 YEARS!!!!!!
In 2008 we bought our home in Winston Salem when he did his Pathology Residency. Not knowing how the housing market would be when we left and not wanting to "eat it" when trying to sell, we buckled down and paid a lot extra on our monthly payment.
It was hard. Money is tight on a resident's salary anyway, let along with a family our size and paying extra. Also seeing other people do things that would be nice to do, but instead paying extra to the home. One quote (I think it's Dave Ramsey's?) that we kept saying was
"Live now like no one else so one day you can live like no one else"
We prayed to ask for help to get out of debt as soon as we could (as our prophet has counseled us) and shortely after, opportunities for Brooks to do work for the state as a side-gig gave us extra money towards the house. The state-work has continued here in South Carolina with a lot of extra work for Brooks to the point where he even has a few doctors working under HIM now. And as promised, we have used the money towards debt.
Well as of last month.......
I actually felt like crying. And I'm tearing up now #pregohormones?
The plan to pay it off fast (even with renters in it now) has been the plan so we can sell it this year and use THAT money to pay the majority of our medical loans off. We also have a goal/date set for paying that off as well if all goes as planned. Fingers BIGTIME crossed.
Working towards this goal has been so unifying and filled with a lot of extra blessings. It's also given us a HUGE high seeing the number of only paying $20,000 in interest over the 7 years vs. $149,000 in interest over 30 years!!!! That's almost the cost of how much we BOUGHT the house for. haha.
It's a freeing feeling. It's nice to get THAT debt monkey off our back.....
afterall, I already have 8 cute little monkeys climbing on it as it is.
4 comments:
CONGRATULATIONS!!!! I love that quote by Dave Ramsey and you have nailed it! I know that had to have take some serious will power and "gazelle-like intensity." So so awesome. I can't wait until we reach our goal!!! Just 3.5 more years! It's become a game to us crunching numbers and seeing how far we can stretch those pennies. Don't mean to get all fangirlish on you but you guys have it ALL figured out!
Wow!! I'm so impressed!!!!!!!!! What an awesome feeling!
Congrats!!!!! What an amazing accomplishment!!!
YAY!!!! I know you mentioned this to me, but SO COOL!!! Loved reading the post! That is so cool you have that house paid off. Can't wait to hear about when you're all done with school loans too. You guys are going to breeze through them fast! Great work Melissa!
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