The Forced Payments

iVillage Member
Registered: 11-14-2008
The Forced Payments
4
Thu, 11-19-2009 - 12:37pm

You know those forced payments you have? The mortgage, the loan, the auto loan? The ones you have coming directly out of your account on a monthly basis. Don't discount the worth of those!

I am going through flake with drawl I believe. I am saving instead of flaking in case I need the cash to help my business during the winter. But I still have forced payments(my ticker included, and a car payment and bf's student loan payment) that is paying down debt. I am still progressing, just not as fast as I would like.

So revel in your forced payments. They are getting you closer to your goal and should be looked at as positive! And.......they actually end some day! Some people are having trouble with making those big payments so give yourself a break. I told myself I had to be nice to me! LOL!


iVillage Member
Registered: 07-10-2003
Thu, 11-19-2009 - 1:23pm

When I bought house last year I started with autopayments

iVillage Member
Registered: 08-08-2005
Thu, 11-19-2009 - 1:52pm
We have the same thing. Every pay they take 1/2 our mortgage payment, so we are always paid a month ahead on our mortgage and make one entire payment a year to principal. That alone is helping us pay our mortgage off nearly 5 years early (and that's without any add'l payments!) Plus, since it is our biggest bill every month, we never have to do it all at once. It has been a big help, and a big piece of mind in this day and age when home foreclosures are becoming all too common place.

Angel


Wife to Wayne, Mommy to Tyler (15), Nickolas (3) and Noah (1)Follow Me to All Boys!

Angel

Wife to Wayne, Mommy to Tyler (15), Nickolas (3) and Noah (1)

iVillage Member
Registered: 04-10-2003
Thu, 11-19-2009 - 4:16pm

ITA! Its sooo easy to forget that each payment gets you a teeny bit closer to a goal!!!


I pay my mortgage bi-weekly so I end up making one extra payment a year. I also have an investment set up that is paying dividends to my mortgage (in a convoluted way, long story) so in just over two years I have paid off 11K! Its a great feeling to watch that sucker go down.


Off topic: Gal thanks for your last response to my so close post. It really made me stop and think about how I get thisclose and then veer off course (as you well know!!!) Today I almost bought a 32 inch tv for our guest room (my tv room). There is a tv in there, but the remote is broken so I only get a few chanels. Sooo thankfully I talked myself out of it, but am going to invest in a universal remote . . . I just hope it gives you instructions on set up!!!



Bex -

iVillage Member
Registered: 10-01-2008
Thu, 11-19-2009 - 4:31pm

Although my situation is totally different, I really understand what

Norma


"Patience is the best remedy for every trouble"- Plautus