How We Paid Off the Mortgage in 11 Years

Homeownership is one of my greatest joys.  Matt and I bought our house in the spring of 2012.  It was a grand time to buy.  Interest rates were low.  Housing prices were fairly reasonable.  It was a buyers' market.  We only looked at a few places before finding a two-bedroom, one-bathroom place with a big yard that was perfect for us.  

Ginger enjoying a nap at her window seat. 9/15/2024

Last summer, we paid off our mortgage--four years ahead of schedule.  Now our little piece of paradise is truly ours.  It is hard to properly express how fabulous that feels.

Matt cooling off on a hot summer day.  7/17/2024

Several times since we hit that milestone we have been asked how we made it happen so fast.  (My favorite was when we were sitting around a campfire and my friend demanded, "How?!  You guys are on vacation all the time!")  People seem pleasantly astonished to learn that we're 40 and debt-free.  That is not the norm.  As Dave Ramsey would say, we are "weird people" now.  

The neighborhood turkey flock chillaxing in the front yard.  3/14/2024

It certainly wasn't magic or anything complex, really.  We just lived below our means and paid extra on our mortgage payment as often as possible.  There were months when we couldn't pay extra, like when we were saving to buy the JamJar.  But, most months we could!  

Having my morning cuppa in the comfort of the JamJar bed while at The Gorge for Dead and Company.  7/8/2024

The short answer is:  We paid off our mortgage early through budgeting, commitment, simplicity*, and patience.  Good timing and a supportive family were also undeniable factors.  The fact that we've chosen a child-free life makes it even more straightforward (though I think our methods could apply to folks with kids, too).   I'm not saying that what has served us well would work for everyone, but since people have asked me...I thought this post might offer some food for thought.  

A longer, more specific (and often overlapping) answer is below.

Our kitchen is small, but mighty.  :)  3/12/2024

• We seldom eat out (or go to coffee shops).  
  This is a big one.  Eating out is expensive!  The price for a meal in a restaurant astounds me.  Matt and I hardly ever eat out.  We both truly enjoy cooking and it is waaaaaaaaaaay cheaper to DIY.   Like insanely cheaper.  $4.99 for toast at IHOP?!  That's crazy talk.  A person could buy a whole loaf of bread for that price!  Crazy talk.
  
  Even when we're on vacation we cook most days, be it on the camp stove or in the kitchen of a rented house.  This significantly reduces the cost of our travel.  Matt and I take leftovers for lunch at work 100% of the time. I can't imagine how much that's saved us over the decades.  Same with the pot of coffee we share in the morning before work instead of stopping by a coffee shop.   Even just $5 each over the 260 average workdays per year would add $2,600 to our expenses.  It is wild how it all adds up.
  
  Saving money isn't the only reason we cook/eat at home though.  Like I said, we're darn good cooks!  Matt makes a mean pour-over coffee, too.  Plus, cooking is fun!  Matt and I have turned making dinner into a way to spend time together.  It is a two-for-one.  We cook and catch up with each other about the day, about life.  We often do batch cooking on the weekends--bake tofu, roast vegetables, make a bunch of rice, or a big pot of soup, etc.  We enjoy each other's company while we cook together, which in turn sets us up for delicious and economical food for the week ahead.
  
  Since restaurants are a rare occasion for us, it makes going out a swell treat.  It isn't commonplace for us, so it is more than just dinner.  It is an experience!  Something that usually happens when friends or family are visiting or when we're on a trip (especially somewhere where a proper vegan restaurant).  This makes it extra special.  I wouldn't have it any other way. 
  

  

  Matt cooking breakfast and making coffee at the KOA by Pine Creek Lodge.  9/7/2024

• When we got a windfall (i.e. income tax returns, COVID stimulus payments, property tax rebate, etc.) we put it towards the mortgage instead of a splurge.
  This one is pretty boring, but oh (!!!) did it have a tremendous impact.  I can see why this "free money" seems perfect for an indulgent purchase.  The money isn't part of the budget so why not buy a new... whatever!?  On the flipside, since this money wasn't part of our normal operating funds adding it to the next mortgage payment made a lot of sense.  We wouldn't miss it.  It was a means of throwing a big chunk of extra money at the mortgage.  It had a substantial impact.  So we did that whenever it came up.
  

  

  A stunning winter sunset on my commute home from the library.  12/6/2023

• We keep a budget so that our spending is intentional instead of impulsive. 
  Matt started us on the path to budgeting when the Good Earth Market closed and we were living on basically one income.  Through the process of making a budget, we became aware of where our money was actually going--and it wasn't always where we thought! Plus, it is so easy to mindlessly fritter away here and there without goals in mind.
  
  The budget was a game changer.  When we have an item we want to buy we don't just run out and buy it straight away.  This could be big items such as plane tickets to Hillberry or smaller household items like a rain barrel for the backyard.  We work it into the budget and save up for it (as needed) until we can pay for it in full.  We do not purchase anything impulsively--we research, compare, plan, budget, save, and then buy. This delayed gratification has allowed us to pay off the mortgage, establish a very reassuring Emergency Fund, invest in our retirement, and get completely debt-free.  Budgeting feels like a superpower to me.  I can't recommend it enough.  It's great!  It freed up so much mental space.  It's like those old infomercials.  By establishing our budget at the beginning of each month we can just "set it and forget it," until the next month rolls around.  Budget, live, repeat.  It is awesome.
  
  This only works because Matt and I are on the same page with our spending.  Truth be told, that is THE primary reason we paid off our mortgage early.  We are partners in lockstep about our spending and financial goals.  We are on the same page.  
  

  

  Matt and I checking out the (relatively) new multi-use trails on the Rims.  9/1/2024

• We share a car (and a whole lot of other stuff). 
  We are a one-car household.  This is one of the best financial (and health) decisions we ever made.  It freakin' rocks to only have one vehicle to register, insure, fuel, and maintain.  Cars are expensive to upkeep!  Only having one vehicle encourages us to get more sporty fitness time through walking and cycling.  We save money.  We reduce our ecological footprint.  It has a cascade of benefits.
  
  The car is the big one, but we share a lot of little stuff, too.  We split an order of fries at the fair.  We'll split a beer at the brewery or a soda on a road trip.  We often share a suitcase when we travel.  We use the same bottle of shampoo. We are also a one-phone household.  Most folks can't/won't entertain that notion any more than they will a one-car household, but again we feel it has a cascade of benefits. 
  
  Sharing these sorts of things easily reduces our household expenses with the added bonus of bonding and bringing us closer to each other, too.   I also think our communication as a couple is stronger and more effective because we primarily communicate face-to-face instead of over text.  That's all win-win.  Financial and beyond.
  
  [Funny story:  The first time we encountered "nacho tots" on the menu of a vegan restaurant in Nashville we shared an order.  When we made a repeat order the next day, I told Matt that I needed my own.  No sharing.  It was too good and I wanted the whole portion allllllllllllllll to myself...so if he wanted some, we needed two!  Mmmmmm....nacho tots.  So, you know, we don't always share.]
  
  

  

  We primarily hang our clothes to dry--95% of the time, I'd estimate--but we do own a dryer.  My late boss, Bill, gave it to us more than a decade ago when he bought a new one.  It is a fabulously dated yellow color but works fine when called to duty.  Plus, it has a friendly face.   8/12/2024

• We're DIY whenever possible. 
  We try to make our first thought be, "Can I make this myself?" rather than just leaping straight to just paying someone else to make it or do it.  There is something satisfying about making/building/growing/doing something yourself.  The end product serves its purpose and comes with pride and accomplishment.  Matt and I have developed a fairly DIY approach to life.  We like to make and do things ourselves instead of buying them. 
  
  This can be substantial projects, such as Matt building the greenhouse, installing a new electrical outlet in my sewing room, or drafting and constructing the custom lazy Susan in the corner cupboard. It can also be little everyday things like cooking from scratch, cutting our own hair, and making homemade bar soap and shower scrubs.  I sew a lot of useful odds and ends--mesh produce bags, boxers for Matt, insulated window shields and screens for camping in the JamJar, patchwork coasters and curtains, and other homegoods.  I make DIY backpacking meals instead of buying more expensive pre-made options.  Matt produces all the compost that we use to enrich the garden.  We dry mint for tea and grow our own herbs for much of the year.  The garden is Matt's labor of love and it provides so much food for our table.  This starts with Matt growing his own seedings and ends with us freezing, canning, pickling, and dehydrating come autumn.  And on and on. 
  
  Our home is a unit of production. This is work, sure, but it is fun and satisfying labor that enriches our lives. 
  

  

  Seedlings that Matt started in the basement when the bounty of our 2024 garden was just a dream for months to come.  3/14/2024

• We mend, repair, and upcycle things.
  If we can squeeze more useful life out of something we do that.  Then we don't have to buy new ones!  That seems logical to me.  It is responsible resource and financial management.  It is our philosophy of "use it up, wear it out..." that I've mentioned before.  Matt and I are both handy at fixing things in our own avenues.  It is very similar to the DIY approach above.  "Could I fix this or use it for something else" rather than just throwing it away? 
  
  Matt will replace the handles on old shovels or rakes.  I have long encouraged folks to learn enough sewing basics to mend the simple stuff.  Stitching a torn seam or re-attaching a button is easy and so many garments get tossed because of these minor, easily remedied problems.  From duct-taping the broken laundry basket back together, "turning" a collar for Matt to keep a favorite shirt in rotation, upcycling groundscored garbage into useful storage bags, hammering in a loose nail on the dresser, or giving our basic black dominoes a useful upgrade...it is easy to save money by extending the life of things we already own.  Not to mention better for the planet.  If it works, we typically don't replace it until it doesn't.  
  

  

  Playing croquet with Jason and Kristen.  7/21/2024

• We emphasize free, cheap, and reusable entertainment and activities. 
  I will be the first to say that we spend quite a bit of "luxury" money on live music--on concert tickets specifically.  We also pay for just one monthly membership-- to the live music streaming service, Nugs.  Live music (and traveling to live music) is one of our main life pursuits.  It is important to do what a person loves.  It feeds the soul.  Music is a huge part of our life and is worth every penny.  It will look different from person to person, but I want everybody to revel in their dearest passions.
  
  That said, aside from live music, Matt and I lean heavily on entertainment that takes little to no money.  We place a lot of value on things like spending time with friends at dinner parties, playing board games and cards, doing puzzles, reading library books, hiking or going for walks, playing yard games, enjoying the backyard firepit, and doing workouts at home.  We love camping and birding.  (To circle back to my friend's comment about how we are "always on vacation," this is because we do it on the cheap.  Camping is a huge part of that.)  We dig it when things to do cost nothing and/or can be used over and over and over again. 
  
  In conjunction, we limit or avoid the recurring expense of subscription services--Netflix, Disney+, Hulu, box-of-the-month clubs, magazine subscriptions, Youtube, Amazon Prime or Costco-type buying clubs, gym memberships, and so on.  I've been learning German with the free version of DuoLingo (where I just hit a 90-day streak-yay!).   I also use Mango Languages because my public library account gets me full, ad-free access.  I have read literally thousands of books (audiobooks, print books, and ebooks) for free through the library.  The public library is my version of Audible.  Hip, hip, hooray for all the resources available through our public library.
  
  So, concert tickets aside, the multitude of free and reusable alternatives more than meets our day-to-day entertainment and enrichment needs and allows us to save a boatload.  
  

  

  Celebrating the new year and setting new goals with my galpals.  Plus, a clothes swap!  1/14/2024

• Shopping isn't recreational or therapeutic for us.   
  Matt and I are both practical and functional consumers. We don't subscribe to the notion of "retail therapy."  We aren't "window shoppers" or "impulse" buyers.  We don't go to the thrift shop or the mall just "to browse."  We don't scroll FB Marketplace.  We will buy things as needed, but we do not treat shopping as a recreational pursuit.    That isn't to say that we never buy unnecessary, luxury items.  We totally do!  We had a shuffleboard table made to order for us this spring...but only after extensive research, comparison, and saving.
  
  We also aren't trendy.  We don't care if we lack the latest styles or gadgets.  In fact, since we stay out of the stores we don't even know about half of them.  Which makes it even easier.  Plus, like I said above, if we already own something (say, a dresser for our clothes) we will just use that.  We see no need to perpetually update perfectly good household items just for aesthetics, trends, or variety.  
  

  

  Matt and I playing shuffleboard with his brothers while my mama works on the puzzle nearby.  3/31/2024

• We limit paying extra for "convenience" products or expedited services.
  This dovetails with bullet points one, five, and six on this list so I won't belabor it.  We don't buy cake mixes because we already own flour, sugar, salt, oil, etc.  We make pancakes, biscuits, cakes, pies, and so on from scratch.  They taste better and are way cheaper.  We don't pay for expedited shipping when making online purchases.  We just wait until it comes with free shipping.  We don't give Paypal a percentage to get our money immediately.  We wait the 1-3 days for it to clear our bank for free.  I don't buy books I just wait until it is my turn for the book at the library.  We don't pay extra to select our own seats on an airplane.  If we don't end up sitting together it is no big deal.  And so on.   Patience is not only a virtue...it is a budget enhancer, too!
  

  

  The brown-eyes susans out back are so lovely.  Ginger uses them as a fort.  The bees are always busy, busy, busy at the flower bed.  8/7/2024

• We had a substantial downpayment and bought a modest home.
  When we decided to buy a house, we put our nose to the grindstone!!  We cut back on the non-essentials (like beer and concert tickets).  Matt was extra prudent with the grocery budget.  In what seemed like a short amount of time, we saved up a sizable chunk of money!  As mentioned in the budgeting bullet point above, it is amazing what we can do with a little focused effort and teamwork.  
  
  It was the 1/4 acre city lot with ditch rights that sealed the deal, but we knew that our house was The One upon our first walkthrough.  It was perfect for us--location, size, condition.  It "only" has one bathroom which is a holdup for a lot of people, but not us.  It also knocked down the price more than I expected for the overall size (1,700 square feet). Same with its status of "only" having two bedrooms.  Two bedrooms and one bathroom are just what we were looking for.
  
  We matched our downpayment savings with money withdrawn from an investment fund my in-laws set up for Matt when he was a kid. (Thank you, Roger and Sharon!)  This allowed us to get a smaller loan and avoid paying mortgage insurance.  We had about 25% of the total cost of our house to pay as a downpayment.  This, of course, reduced the amount of our initial loan giving us less to pay off from the get-go.
  

  

  Ginger keeping me company while crocheting the big rag rug for the livingroom.

The running of a home is deeply personal and should be customized to suit. I hope that is useful information.  This is what works for us.  Take it or leave it for what it is worth.

Matt reading on the sofa on a bright winter afternoon.  2/10/2024

*During a recent meeting with our financial advisor Matt described our lifestyle as "simple."  I added that some might call it "austere."  We don't see it that way, of course.  We lead an abundantly rich life....but tell people you don't have home internet and they look at ya like you're a monk who sleeps on a bed of thorns.  We get our comforts and pleasures elsewhere.