swamp
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Post by swamp on Jun 29, 2020 9:54:26 GMT -5
After my last mortgage payment, the balance was $45,020.81.
I paid $100 towards the principal because I wanted to see the balance below $45,000.
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andi9899
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Post by andi9899 on Jun 29, 2020 9:59:13 GMT -5
I've done that before. Its satisfying to see the balance decrease to the next thousand or hundred or whatever. It's not like you blew it on crap.
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Deleted
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Post by Deleted on Jun 29, 2020 10:00:01 GMT -5
The only silly part is you could have got the same result with $21.
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Deleted
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Post by Deleted on Jun 29, 2020 10:38:18 GMT -5
Well, let's see what Phil has to say about that! Mine is at $71,000 but that's the least I've ever owed on a mortgage (borrowed $100K 5 years ago, 3%, 15-year). I had a $75K mortgage in 1979 but it was a 30-year at 12.25% (ouch) and never got that low; the house was sold after 4 years.
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Tiny
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Post by Tiny on Jun 29, 2020 12:04:48 GMT -5
I do "silly" stuff too. I like to pay my CC's and mortgages with "round numbers" - so I tend to round up the CC payment (as long as it's one of my "everyday" cards - so the overage will cover some of the new charges. I rounded up all the mortgage payments, too.
A goal for 2020 was pay down one of the mortgages to 20,000 (or a little less) so starting in January 2020 I bumped up my payment to get me there in December 2020. That's kind of a long term silly...
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justme
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Post by justme on Jun 29, 2020 12:47:43 GMT -5
The only silly part is you could have got the same result with $21. According to my Phil Script, a lump sum investment of $79.00 bearing an annual return of 11% could grow to $224.31 in 10 years! Just think what you could have bought in 10 years with that!!
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Lizard Queen
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103/2024
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Post by Lizard Queen on Jun 29, 2020 12:52:02 GMT -5
The only silly part is you could have got the same result with $21. According to my Phil Script, a lump sum investment of $79.00 bearing an annual return of 11% could grow to $224.31 in 10 years! Just think what you could have bought in 10 years with that!! You should subtract the interest rate on the mortgage from the 11% return.
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Deleted
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Post by Deleted on Jun 29, 2020 13:00:41 GMT -5
If it makes you happy, it's way cheaper than therapy
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Post by The Walk of the Penguin Mich on Jun 29, 2020 13:04:50 GMT -5
I use my Amex card online for 99% of my purchases. If I know I have a bigger bill coming in, I’ll overpay (especially if the current bill is lower than usual) only so I don’t have to see such a large balance next time.
It’s more of an emotional issue, not financial.
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swamp
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Post by swamp on Jun 29, 2020 13:08:36 GMT -5
If it makes you happy, it's way cheaper than therapy oh, I need therapy too. But this is a cheap high.
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justme
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Post by justme on Jun 29, 2020 13:17:06 GMT -5
According to my Phil Script, a lump sum investment of $79.00 bearing an annual return of 11% could grow to $224.31 in 10 years! Just think what you could have bought in 10 years with that!! You should subtract the interest rate on the mortgage from the 11% return. Well, if we're being specific might as well go all the way. According to my Phil Script, a lump sum investment of $79.00 bearing an annual return of 7% could grow to $155.40 in 10 years! You'd have to buy a cheaper hooker.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jun 29, 2020 13:22:04 GMT -5
Well, let's see what Phil has to say about that! Mine is at $71,000 but that's the least I've ever owed on a mortgage (borrowed $100K 5 years ago, 3%, 15-year). I had a $75K mortgage in 1979 but it was a 30-year at 12.25% (ouch) and never got that low; the house was sold after 4 years. According to my Phil Script, a lump sum investment of $100.00 bearing an annual return of 11% could grow to $52,405.72 in 60 years! if you'd just invested it long term........ you'd have 52k when you died!!!
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alabamagal
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Post by alabamagal on Jun 29, 2020 15:09:32 GMT -5
I do "silly" stuff too. I like to pay my CC's and mortgages with "round numbers" - so I tend to round up the CC payment (as long as it's one of my "everyday" cards - so the overage will cover some of the new charges. I rounded up all the mortgage payments, too. A goal for 2020 was pay down one of the mortgages to 20,000 (or a little less) so starting in January 2020 I bumped up my payment to get me there in December 2020. That's kind of a long term silly... My husband does the opposite, he pays an exact amount so that the balance will be an even number so if Balance was $123.45 and he had to pay $20 he would pay $23.45, but the next bill will not be $100 because interest is added in. This used to really annoy me back in the day when we had to maintain our check register manually.
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CCL
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Post by CCL on Jun 29, 2020 15:34:46 GMT -5
I always round up on my payments. My checkbook is hard enough to keep straight without messing with pennies, nickels, and dimes and ones.
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GRG a/k/a goldenrulegirl
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"How you win matters." Ender, Ender's Game
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Post by GRG a/k/a goldenrulegirl on Jun 29, 2020 15:44:44 GMT -5
I do "silly" stuff too. I like to pay my CC's and mortgages with "round numbers" - so I tend to round up the CC payment (as long as it's one of my "everyday" cards - so the overage will cover some of the new charges. I rounded up all the mortgage payments, too. A goal for 2020 was pay down one of the mortgages to 20,000 (or a little less) so starting in January 2020 I bumped up my payment to get me there in December 2020. That's kind of a long term silly... My husband does the opposite, he pays an exact amount so that the balance will be an even number so if Balance was $123.45 and he had to pay $20 he would pay $23.45, but the next bill will not be $100 because interest is added in. This used to really annoy me back in the day when we had to maintain our check register manually. Guilty as charged, LOL!!
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countrygirl2
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Post by countrygirl2 on Jun 29, 2020 16:32:52 GMT -5
I just pay ours off monthly, I just cannot stand debt.
We did not get the duplexes and I'm so relieved. They got a higher offer, good for them. It was a good investment and 10 or 15 years ago I would have gone for it happily, but not now. I'm tired, don't feel good a lot and knowing I would need to do stuff on them sooner or later. I'm a happy camper tonight, believe me.
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debthaven
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Post by debthaven on Jun 29, 2020 16:53:04 GMT -5
you wastrel you! i remember going to the bank in aug 2007 and the teller congratulating me on only having 27 euros left on our mortgage. i thanked him, went outside, and called dh. went back inside, and transferred the 27 euros plus whatever interest was due. then i went home and rooted through my sewing kit to find a wooden button, and glued it onto the stair banister. that wooden button fell off many years ago, but the house is still paid off.
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swamp
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Post by swamp on Jun 29, 2020 17:41:45 GMT -5
Well, let's see what Phil has to say about that! Mine is at $71,000 but that's the least I've ever owed on a mortgage (borrowed $100K 5 years ago, 3%, 15-year). I had a $75K mortgage in 1979 but it was a 30-year at 12.25% (ouch) and never got that low; the house was sold after 4 years. According to my Phil Script, a lump sum investment of $100.00 bearing an annual return of 11% could grow to $52,405.72 in 60 years! if you'd just invested it long term........ you'd have 52k when you died!!! I don’t think I’m going to make it to 110. I’ve probably got 30 years left, tops.
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Bonny
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Post by Bonny on Jun 29, 2020 19:00:12 GMT -5
Sure beats what my husband did today. Left the $100 in the ATM I will remind him of this every time he complains about me leaving a light on!
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Post by The Walk of the Penguin Mich on Jun 29, 2020 19:27:04 GMT -5
Sure beats what my husband did today. Left the $100 in the ATM I will remind him of this every time he complains about me leaving a light on! You can get a LOT of mileage out of this!
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beccazan
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Post by beccazan on Jul 10, 2020 15:14:39 GMT -5
you wastrel you! i remember going to the bank in aug 2007 and the teller congratulating me on only having 27 euros left on our mortgage. i thanked him, went outside, and called dh. went back inside, and transferred the 27 euros plus whatever interest was due. then i went home and rooted through my sewing kit to find a wooden button, and glued it onto the stair banister. that wooden button fell off many years ago, but the house is still paid off. I'm just curious. is the wooden button on the banister a european tradition?
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debthaven
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Post by debthaven on Jul 10, 2020 15:28:43 GMT -5
is the wooden button on the banister a european tradition? no, i was told on this board that it's a US tradition! i think it's southern (although I'm not lol)
eta: just looked it up ... they were called "mortgage buttons" and they might be an old myth lol.
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dippyegg
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Post by dippyegg on Jul 10, 2020 19:14:36 GMT -5
That does not seem silly at all!
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Works4me
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Post by Works4me on Jul 12, 2020 23:05:31 GMT -5
Sure beats what my husband did today. Left the $100 in the ATM I will remind him of this every time he complains about me leaving a light on! These days, the bank can use the ATM cameras to find out who took the money.
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Bonny
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Post by Bonny on Jul 14, 2020 9:43:18 GMT -5
Sure beats what my husband did today. Left the $100 in the ATM I will remind him of this every time he complains about me leaving a light on! These days, the bank can use the ATM cameras to find out who took the money. DH says there were several homeless people milling around. Good luck getting it back. He's chalking it up to a "stupid tax". I'm grateful it wasn't a make or break move on our part.
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Works4me
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Someone responded to your personal ad - a German Shepherd named Tara wants to have you for dinner...
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Post by Works4me on Jul 14, 2020 21:29:25 GMT -5
Good way to look at it.
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Cookies Galore
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Post by Cookies Galore on Jul 16, 2020 9:56:21 GMT -5
You want to talk silly? I decided to forgo my council stipend for the rest of the year (~$150 a month, nothing crazy) and with my last check I bought $175 shoes as a "reward" for staying home and letting money accumulate in my checking account. Anything to justify a frivolous want!
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