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#16 |
Senior Member
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queer femme-inist Relationship Status:
I'm lucky. ![]() Join Date: May 2010
Location: Western Mass
Posts: 3,774
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I bought my not very big, not very fancy house when I was in my 40s and then I refinanced it when I was in my late 40s to save almost $200 a month.
I want to try to pay off my thirty year mortgage because I didn't start teaching in a public school until I was 42, and I won't be able to afford my mortgage when I retire. I emailed my very helpful local bank manager and he said I'd need to pay about $770 extra a month to principal in order to pay off my mortgage by the end of the school year when I turn 60 years old. I don't have to tell you how impossible that sounds, so I will just pay about $87 a month towards principal, which will shave off a few years. But, it's important to me to be able to choose whether I stay here when I retire, so I have been thinking a lot about how to manage my budget with an eye towards the future. |
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frugal, saving money |
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