Wednesday, July 29, 2009

Old Ways

I made my last mortgage move that will pretty much put us in the ballpark for finishing up the mortgage by the time the renewal comes along in 3 years.

The move was an increase of $100 per payment. It is amazing what compounding in your favour does. I had previously thought that lump sum prepayments was the most powerful way to make an impact and underestimated the power of the small amount over a longer time effect.

We are doing both so hopefully will be benefit from both sides.

On a different note, I made a few clothing purchases lately. We enjoy going across the border to a number of US border cities for the day, have lunch and do some shopping. I was looking for a small token gift for a girlfriend's birthday (we take each other out for a fancy dinner as the real gift) as well as some lighter summer work clothes now that I am walking.

I ended up spending $65 total for a french manicure polish set (girlfriend), 3 skirts and 2 short sleeved tops. I was pretty pleased with it all. The last time I made a similar purchase was for 2 skirts and 1 top for just over $500 so an amazing improvement. That seems like such a previous lifetime to me. I'm not sure that I would be going back to my "old" ways even when we are debt free.

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