Wednesday, July 28, 2004

Financial Musings

I paid my mortgage, always a good feeling to have that accomplished. I started our debt annihilation program (including getting rid of the mortgage!) a little over 2 years ago, and have been keeping track of every pesky detail in a spreadsheet ever since.

Today, we reached the mile stone of having paid more than $10,000 in interest since starting this program. Quite a lot! Of course, I had to try to figure out how much interest we would have paid if I had not started paying off everything faster. I came to about $13,500. At first I was a bit disappointed, $3,500 did not really seem like a big difference. But then I actually started using my brain, and realized that the big difference is during the 25 years that I am not paying ANY interest, not during those 5 years that we pay less interest. I know that in the end, we will have saved about $80,000 in interest, I guess that's why the $3,500 sounded so low.

But the $10,000 sounds high, that's a lot of money to have paid to the bank in just over 2 years. Can't wait till my mortgage finally will be paid off, only 4 to 5 years left!

Today was a sucky day, things seemed to be ok till it was afternoon and everything just fell apart. It didn't help that it rained and rained and rained. Have to go to bed now, so won't go into the details, but it just was not fun. Hope tomorrow will be better!

The good news is that I played the tongue game with Sylvia. I stuck out my tongue to her, and she would imitate me. It was the first time she did this, such fun to watch and interact. She was watching me intently, either my eyes, or my tongue when I stuck it out. She kept alternating between those two, so cute!

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