$20 Dollar challenge: Building my final mortgage payment
January 1st, 2010 at 01:32 amHere it is, the first year we will be conducting the $20 dollar challenge. Our goal, to pay off the house by 31 DEC 2010. Starting balance: $55,350
We will continue to pay on the house as we have planned (I plan on updating the mortgage amount monthly so you can follow). The $20 dollar challenge will provide the final payment (Amount to be determined). Here are the areas we will asses to add money to the account:
1. Coupons: Only coupons from items we already use.
2. Interest earned on the account: We will store the money in INGDirect.
3. Ebay: Sell stuff around the house.
4. Half.com: Books
5. Craigs list: Furniture
6. Collection sales: Lots of stuff.
7. Credit Card rewards: Self explanatory.
8. Change: Daily change added to the change bank.
9. INGDirect referrals: 43 referrals left, if you want to help ask me to send you a link.
10. Starting change bank: I have been saving change for 8 months now, we will start with this amount (About $350)
11. Starting Balance: $20
12. Yard sale: Wife says she will do this one... we'll see.
13. Insurance refund: We receive an annual refund from our life insurance.
14. Military Discounts: We often receive 10% discount, we will add this savings to the challenge.
Alright, here we go....