The Wife and I live a very simple lifestyle. That is part of what brought us together1. Today, all the scrimping and saving paid off a little. From this day forward, we should never have another mortgage payment for our home.2
This is huge. Prior to this, nearly $1000 every month was required to go to the bank to pay for our home. From this day forward, that money stays in our pockets to go towards other things. I have to confess, we did cheat a little bit. As of this payment we still have $7270.12 outstanding3, but with the sale of our house that goes away.
My mother has always been worried that The Wife and I are impoverished because she has never seen our wealth. I feel differently, I feel pretty wealthy knowing that the things I own, I own outright. From now on, almost4 everything I earn, I get to keep.
Simplicity makes for a good life.