There is a theme in the comments of the Yahoo article that covered our mortgage payoff story (for our first house, not our current one). You can actually read my payoff story in my own words here. Long story short, we bought a house in April 2007, paid it off in April 2013, and did it mainly by paying $160 more than necessary every month. That would have had us paying it off in 10 years. We shaved off an additional 4 years by throwing additional principal payments onto it when I started making more online.
Mainly, with Yahoo’s post, there are whiners and normal people in the comment section. Let me be clear, whining is great. I love to do it. But lashing out at others because of what you have stuck in your whiny brain is stupid.
Here are my responses to all of the whiners that I am sharing here because I love my readers and think my I-really-want-to-say-it responses will make you laugh or at least agree.
But We Don’t All Make $120,000 a Year
Then work on increasing your income! Or shut up. My business didn’t magically appear. I worked my butt off to create it, grow it, and to keep it going! Don’t want to work that hard? Then don’t. I don’t care what you earn, and you don’t have to either, but that means you can keep your mouth shut when someone else succeeds.
We Can’t Buy a Good $114,000 House Where We Live
Then move. Or shut up. Yeah, I live near Houston, TX and homes are cheaper here than along the coasts. But you can either move, make more wherever you live, or suck up the fact that you choose to pay more. We have to deal with hurricanes and crappy summers. You have to deal with coastal views and crappy prices. Whaaaaaaaaaa. It’s a choice – a really hard one, granted, but a choice none-the-less.
I’m Not Married
So get married. Or get a second job. Or shut up. Sensing a theme?
I didn’t say you had to be married. And I didn’t get married just to buy a house. It’s my situation. Deal with your own situation.
I’m Not Listening Because You Don’t Have Kids
Damn skippy. It’s by choice. And if I decide to have kids, that’s our choice too. I know kids are expensive, but I also know people who have kids and have paid off their home too. Kids are not an excuse. They are a prioritized expense. If you have kids and want to pay off a loan faster, cut something else out of your budget. It’s not rocket science – it’s budgeting.
I Don’t Want to Rent Out a Spare Bedroom to an Ax Murderer
Then don’t. We have rented to 4 friends and 2 strangers. It wasn’t necessary in paying off our mortgage – I just liked the extra income. Overall, we brought in about $9000 over the 6 years we owned the other house. Maybe $11,000 if I am forgetting a few months. That was not how we paid off a $92,000 mortgage in 6 years. It was just a way of making extra money that Yahoo wanted to include. Bite me.
Paying Off Your House Loses Your Interest Deduction
This is stupid or ignorant. First, you must be assuming that the standard deduction wasn’t higher than itemizing (which is was, so we never itemized the first house’s interest). Then you seem to assume that making back your tax bracket’s worth of interest is better than paying no more interest at all. NO. BAD HOMEOWNER. No interest is way better than a 15%-33% discount off of interest.
You Must Have Lived Like Homeless People
Nope, we live quite nicely, thank you. We splurge like everyone else, but we don’t splurge on absolutely everything else. It’s called prioritization – look into it. If you rather pay off a loan than smoke, give up smoking. We splurge on food and services, but we don’t buy absolutely everything we want. “You can afford anything, but you can’t afford everything.”
Your House Must Suck
Nope. It’s a good house. Built in 2004 and here’s a picture. Bite me.