We pay an extra $180-200 a month (a 10% increase) on our mortgage. It cut 9 years from the repayment time.
Also, if you need to replace the roof after only 13 years, something is horribly wrong with your builder. Most roofs are designed for 30-50 years, depending on the materials. Just remember to have it pressure washed and treated every few years, and it should last a long time.
I live in constant fear of needing to do a roof replacement for no rational reason. though I assume that nearly everything made by people and used by me will crumble in about 10 years. This even in the face of clear examples of that not happening ALL. THE. TIME.
I'm just a little crazy about stuff like the roof. It's a very irrational fear that it will need to be replaced.
Come live by me! I know, not really helpful. But awesome.
We do the car payment thing, except forever. Once we pad off the cars, all that money got shunted to a savings account. It now funds all the "out of the ordinary" things we want to do. That includes our plans for new cars at some point, emergency vet visits, house improvements, you name it. It's nice to have that extra money set aside for the bigger projects.
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Also, if you need to replace the roof after only 13 years, something is horribly wrong with your builder. Most roofs are designed for 30-50 years, depending on the materials. Just remember to have it pressure washed and treated every few years, and it should last a long time.
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I'm just a little crazy about stuff like the roof. It's a very irrational fear that it will need to be replaced.
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We do the car payment thing, except forever. Once we pad off the cars, all that money got shunted to a savings account. It now funds all the "out of the ordinary" things we want to do. That includes our plans for new cars at some point, emergency vet visits, house improvements, you name it. It's nice to have that extra money set aside for the bigger projects.
Reply
We are starting to 'pay ourselves' now. It'll be an extra $XX/month between the two of us that gets tucked into savings. Very similar to what you do.
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