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