April 2018 – Mortgage Payoff Update

At the end of April, our remaining payoff balance is at 14.35% of our original mortgage that we took out in 2007. That is a reduction of 3.38%.

How much longer until the mortgage payoff?

Once all of April’s payments were applied, we’ll have reduced our mortgage balance by about $4590 this month. That brings our balance below $20k. According to our schedule, we have 4 payments left. That means our mortgage will be paid off on September 1, 2018.

The side business is starting to be a bit more consistent, which means regular extra income coming in each month for it that is helping to promote paying down the mortgage. This last month was a bit larger than usual, but I’m looking forward to other similar sized ones in the future. After the house is paid off the extra income will help to move forward other goals, such a early retirement.

Budget Series

The next category I’ll be covering is “activities”. This is different than entertainment in our budget.

Savings at the pump with the GasBuddy card

GasBuddy Logo

I’m always a sucker for new ways to save some extra money without much effort on my part. That’s why when I found out about the GasBuddy card, I figured I’d give it a try.

How it works

This card works similar to the Target REDCard debit card. Essentially you link the card to your checking account and they give you a discount by processing the transactions. Unlike the REDCard’s 5% discount, GasBuddy gives you $0.05 off per gallon automatically when you use it at the pump.

After signing up, you’ll receive your card in the mail, set up a driver ID (which is essentially a PIN). Then when you go the pump, you just swipe your card and enter your driver ID and pump away. You can ignore the price at the pump and skip the receipt. GasBuddy will email you your final receipt and it will pop up in the GasBuddy app if you have it installed on your phone.

They’ll then deduct the final amount out of your checking account a couple of days later.

It’s easy!

I love how easy it is. It does require carrying another card around, but it’s not difficult to use. It’s worked at every gas station I’ve tried it at so far.

I’ve used cash back credit cards, but honestly, those tend to over complicate things in the budget and just don’t seem worth the effort. If I could find a cash back debit card, then we’d have a winner.

They also track your lifetime savings and tell you how much you’ve saved.

Final note

It appears that GasBuddy is now offering points through Shop Your Way OR the discount per gallon. I’ll continue taking the discount since it’s an immediate savings versus piling up points to buy something that I don’t really need.