Great advice. I am 67 years old and live on social security and a little pension. I don't even make enough to pay taxes. BUT because I am totally debt free I owe nothing I am able to save over 12000 a year. These are very uncertain times we live in.

@UndertheMedian

3 жыл бұрын

You are absolutely right! My husband is 63 and getting pretty close to retirement. We are certainly very glad to be debt free at this point in our lives.

@kelleyjerred8032

3 жыл бұрын

Agree im 49 and im debt free including my house in 5 years. I honestly I just just don't feel it becuz the usda is so stinking slow about finalizing everything 🙄. Ugh its been 3 months. But im hoping ill be building crazy wealth from now on.

@dawncarrasco8320

3 жыл бұрын

That's great

@angelgirldebbiejo

Жыл бұрын

How do you not pay property taxes or do you have it deferred and it will later be subtracted from the estate value

@angelgirldebbiejo

Жыл бұрын

​@@kelleyjerred8032 what about property taxes

We paid our remaining mortgage off in five years too. Between us we had three jobs, went to a weekly payment plan and put all our budgeting efforts to that one goal. My husband cried with relief as we celebrated with a bonfire and a glass of wine. Lol. Now that I’m on my on my own I drive a used car, cook almost everything from scratch and am busy decluttering/ streamlining everything I own to simplify my life. Next step is to get rid of cable, go to a basic cell phone/ internet plan and sell many of my possessions I don’t want, need or use. Those funds will go into replenishing my emergency fund. If I buy anything it’s only what I need like fresh food. You don’t have to have “ stuff” to be happy. This is one great common sense video. Thank you so much.

@TermiteVideo

3 жыл бұрын

Bonita Jordan well done Bonita! Living in your home for free (apart from the smaller bills) gives you such freedom. It gives you choice. It means you are living the life of a rich person with the same flexibility.

Ill have my paid off in 3. 1. Get out of debt before you start looking. 2. Dont take out the amount the bank is willing to lend you (20% down) 3. Be willing to compromise on either HOUSE or location 4. Have an emergency fund in place (SOMETHING WILL BREAK!!!) 5. Start paying it down the very first month. You will do more damage on the front end. The earlier you start the better!! 6. Drop the escrow when you can. You can pay your own taxes and insurance I only have 59K left! I bought my house in 2020!!!! I CAN TASTE THE FREEDOM!!!!

@UndertheMedian

Жыл бұрын

Good for you! That represents a lot of hard work and sacrifice to pay off a home. Well done.

Paid off my mortgage July 2019 best feeling ever!

@UndertheMedian

3 жыл бұрын

Good job!!! So excited for you.

@debbies6192

2 жыл бұрын

Congratulations!!!

@claudinebrown5605

2 жыл бұрын

Congratulations!!!!!

@stinejohansen8342

2 жыл бұрын

Well done 🤩🤩🤩

@siddiqze

2 жыл бұрын

👏

Dave Ramsey always says your house should be a blessing not a curse

@MrFunkadeIic

3 жыл бұрын

You should have a mind of your own and not what Dave Ramsey wants you to think and feel.

@Mickey_-dw7yv

Жыл бұрын

He's not wrong! Dave is a financial genius!

We took out a 15 year mortgage and paid it off in 9 years. I know, I know. It isn’t 5 years but it worked!

@UndertheMedian

2 жыл бұрын

That is awesome! Well done.

Wow wow wow. We kinda did a similar thing... I now at 52 work a small part-time job ( through ill health) we had our mortgage paid when my husband was 50 i was 43 it is the best thing ever!!!!!!!!

@UndertheMedian

3 жыл бұрын

Yay! Good job! Being debt-free has allowed us to have more options on a lower income.

Stumble across your channel. This came just in time to confirm I am going in the right path of paying off my mortgage and being serious about it! May God continue to bless you and your family!

@larryware1

2 жыл бұрын

So glad you found us, Twana! Nice to have you with us. Yes, getting serious about paying off your mortgage is a good direction.

I do staycations! I call it destination "Puerta Backyarda." I think Victoria Rice is where I heard that phrase and loved it!

@UndertheMedian

Жыл бұрын

LOL! I love it!

When I was a kid, my parents did the same thing and threw every extra cent toward the principal. They paid off our first house in a few short years and within 8 years were able to upgrade to a new, 2 storey, 4 bedroom home by paying cash. I had no appreciation for how smart they were, and only complained that I was the only kid in class who didn't go on fancy vacations during winter break. Now that I'm old (lol), I am in awe of their brilliance! Thank you for all the great advice, Hope and Larry!

@katiejon17

4 ай бұрын

I was born in 1979, and my parents were also like this. My mother was a SAHM, my father was military (enlisted). They remember having a very high interest rates on their mortgage in the 80’s. They were so good with their money. They were 100% debt free by the time they were in their late 30’s/early 40’s. They are amazing and I am so proud they raised me!

We are mortgage free too. It’s a wonderful feeling, I just wish everyone could feel it. Makes life so much easier.

@UndertheMedian

3 жыл бұрын

It certainly opens up more possibilities - even on a lower income.

Back in 2015 I went on a spending moratorium for one month. It felt so good that I never stopped. My question to myself before I purchase something is "Do I NEED it?" (vs WANT it). I got debt free except my mortgage and was able to move close to my grown kids and build a new, smaller 🏡. I gave away over half of my worldly possessions to a friend who needed furniture and sold items at the flea market to supplement her income.

An emergency fund is so important! Everything forgets this basic. So happy they mentioned this first. Damn they are lovable!

My wife and I paid off our mortgage in 4 1/2 yrs, but we didn't even try the first 2 1/2 years. We still owed $25k, and paid it off in 2 yrs. We practically lived off my wife's income for 2 yrs, while everything from my paycheck, except for 1 check per month, went onto the mortgage. I was getting overtime at the time, and that helped a lot.

Loved this 😍 I feel so much more inspired to get my home paid off now and stop frivolously wasting money!

@davisholman8149

Жыл бұрын

They are my kind of people. I remember when I first heard of the trend “no spend day”. I was honestly stunned. People, I have “no spend days” most days of the week. I truly have not spent a dime 5 or 6 out of 7 days - for years. I have considered myself pretty frugal - but never knew not spending was so unusual.

I brought a large house instead of a starter home because I choose to buy out of the main town and my full house out of town was the same price as a starter home in town. My goal is to pay house off as fast as possible and then put the money that I was putting towards paying off my mortgage into renovating my house. My goal was to pay it off in 10 years. Have 3 years left of that original 10. Got behind in my plan when my mum was diagnosed with terminal cancer and passed away. Trying to get everything back on track. I have a plan already but listening to others such as yourself is the motivation I need to to keep with my plan.

Five years is phenomenal! My dad taught me to pay off a mortgage early. By the time I was old enough to understand what he was doing, we'd just bought a house on a 15 year mortgage. He paid it off in 7.5 years. I thought that was great till I heard your story! When I got a mortgage, my intent was to pay it off in half the time. I learned that bi-weekly payments equalled an extra payment a year. I started off with one extra payment a year, to see if I could live on that budget. Then I moved it up to 2 extra payments a year, then 3. I got to 4 extra payments a year when I moved my terminally ill brother in to take care of him. I needed more cash in the budget, so I went back making one extra payment a month. Because of several sorts of drastic financial woes, I've kept making 1 extra payment a year since then...all on principal. It's my only debt, but I'm on disability income now...which is about 20% of my previous salary. So far, I'm still making that 1 extra payment a year because the difference between a regular payment and 1 extra isn't very much now at all. God willing, I am moving soon, so I'm on no hurry now. Maybe it is time to go down to just a regular payment...didn't really think of that till just now! Thanks for all the info as always...and love to you, too!

@sobeliever1638

11 ай бұрын

7 5 is still great

MY TIPS: 01:) We refinanced our condo twice when the interest rates were low. It was worth the $2,000 (for the process and paperwork as we paid cash for that as opposed to wrapping it into the loan like so many people do.) One of those refinances was from a 30 year to a 15-year loan. That alone saved me $48,000 in interest alone. 02:) Then every time we had a "windfall" as in the Stimulus checks that went directly onto the principal. Every year when we have a income tax refund that goes on the principal as well. 03): My husband is technically retired but works three days a week at a big box store micing paint and every four-week month we put an extra $300.00 onto the principal [in addition to the monthly payment. On a five-week month we pay an extra $400.00 onto that principal every month. Our loan balance is down to just above $100,000 on our $472,000 condo left on our loan.

I would’ve stayed in that cute starter home!

This is the most comprehensive info for young couples and home buyers.

I bought a house that allowed me to add an apartment and an AirBnb that I run 6 months of the year - I shut it down during the winter. That covers my mortgage, taxes, insurance, utilities and a little more. It's really sweet! Fifty percent of my income from work goes straight to my long term savings.

When my boys were young, I'd take them to the dollar movie. I'd have my homemade popcorn 🍿 , a treat, and drinks picked in my bag. $3 for us to enjoy an afternoon movie!

What a great role model you two are. I think that's the real crunch on many marriages is that one spouse is frugal and the other one is the spender.. I applaud your wisdom and your marriage!

I bought my house just before my 30th birthday...I am a single woman and I am a social worker...so my salary is not high. My house is 130 years old and when I bought it, I cried because it was run down. Paid it off in 10 years. 7 years ago I spent 500k renovating it. So I was remortgaged....250k. Now I am at the halfway Mark 50% of the loan is done...I am 82k ahead in my repayments. I am 55yo....I lost both my parents in the last 2.5 years and will get close to 2 million dollars in inheritance in the next year. So the house will be paid off. I will update my 26 yo Toyota Corolla! I have 500k in my retirement fund...I and retiring at 60....

@katherinecross8059

3 жыл бұрын

Well done on your gift to yourself, and condolances on the loss of your parents. God bless your 2021.

@TermiteVideo

3 жыл бұрын

Rita Smith good stuff Rita. Your parents will be proud that they have ensured a comfortable retirement for you

You two are the cutest 🥺 Goals

Slightly different scenario here, we live in military housing and are using years of low rent to save to buy a home , cash. Sometimes the details are different because I’m British but your sheer passion and enthusiasm gets me fired up. Thanks for being my team!

So glad I found your channel..you guys are awesome! 😷 we are on track to pay off our "forever home" in 2 yrs.. having a mortgage still at 62 and retired is scary!!

@UndertheMedian

3 жыл бұрын

We love that you will soon be debt free. Good for you for setting goals and sticking to them. Well done!

This is one Blessed video I seen in a long time with people trying to sell you something. Congratulations on paying off your mortgage. My husband and I are one our way. God Bless yall❤🙌🏾😊

I love this and found it very encouraging! We bought our home on a 20 year land contract. We lived 'status quo' for most of the time we were making payments...spending money without thought much of the time. We 'went frugal' about a year before our house was to be paid off, so we ended up paying it off only a little early, but it still felt good. And life has felt more secure know that, humble as it is, our house belongs to us. I need this kind of encouragement along the way in my frugal journey because I find myself buying small items here and there thinking it's no big deal...but they truly add up. I had a bit of a frugal fail yesterday: I had to take a vehicle to the Ford garage for a recall repair. It ended up taking longer than expected, so my daughters and I had time to kill. Yeah...you can imagine the rest. Lunch, The Dollar Tree (I don't even like going there...), and Big Lots. Ouch! I will have to tighten the budget down to make up for it now. Thanks for the great advice! I agree~~we need to keep the Lord in the loop while we walk this journey!

"No one can take your house if your mortgage is paid off." Um... as long as you keep paying your property taxes. Just something to keep in mind.

@UndertheMedian

3 жыл бұрын

You are absolutely correct, Bob.

@kenyonbissett3512

2 жыл бұрын

Or a lawsuit, lawyers eyes get very big and the smile sharklike ......

Fantastic!! Thank you for your comments about God getting your through this too! I appreciate your openness about your faith!

We didn't eat out in 3 years to save for our last home. It does work. We did order the occasional pizza or lunch with friends. If we wanted to get out of the house, we went out for coffee or pie. We also would share a meal if we had to eat out with family or traveling. But it did really work and we saved. We paid off all our debt in 3 years. Time flew too.

We found a great way to extend our vacations. In 1995, my husband won a four-day trip to Hearst Castle through his company. We decided to go in August of that year and spent the first part of the summer reading biographies and watching movies about the Hearst family. We discussed with each other the bios we were reading. By the time we finally went to Hearst Castle, we felt like our activities had made the trip so much more meaningful and fun, like the culmination of a whole summer of learning and like an extension of our vacation.

@UndertheMedian

3 жыл бұрын

I love that story!

@TermiteVideo

3 жыл бұрын

Foggy Wood Mindful holiday Foggy!

Spending time with your children...PRICELESS!

Wow! I started house hunting and this video came at the right time!! Thank you so much for posting this!!!!

I have one year left of paying off my mortgage! It should be paid off by January 2024. The only thing that I did differently, is I did get take out a 30 year mortgage in 2016. Originally, I had wanted to take out a 15 year mortgage, but my realtor suggested the 30 in case something were to happen (job loss, divorce etc.) and to just make double payments every month instead. It is the same thing if you make double payments a habit, but you still have the security of a smaller payment in the case of an emergency. Well, she was right, my husband left me in 2019, so I lost half of the income. I had a nice nest-egg savings when I was married, but my ex got to keep the money so I could keep the house. I have still been able to make double payments since he left, but in 2020 I unexpectedly needed a new car, which temporarily set me back for 6 months from making my double mortgage payments while I got the car paid off. If I had the 15 year mortgage, I wouldn't have been able to afford to pay off the car that I needed at the time (and would have been stuck in more debt). So, even with taking out a 30 year mortgage, my house will still be paid off within a

@thomasorchard

5 ай бұрын

Did you get it paid off?

@brady3xox

5 ай бұрын

@@thomasorchard Yes!! I paid it off October of 2023! Yay!!!

@thomasorchard

5 ай бұрын

@brady3xox congratulations 🎊 feels great, doesn't it?!?!

@brady3xox

5 ай бұрын

@@thomasorchard yes and now it's so easy to save money!

Great advice. This video is so bad for banks, food companies, shopping centres, tourism and entertainment centres. Thanks for great upload.

Smart tips thank you for doing this video. Although I rent and am 61 I still dream of owning a small home someday. When COVID hit I had all my bills paid up, a pantry & freezer full of food, $ in the bank for the next month's bills. Whereas I had coworkers who were down to their last half roll of toilet tissue with none available in stores - so I agree saving leads to a more peaceful life

@UndertheMedian

3 жыл бұрын

Larry got laid off many years ago. We had an emergency fund. The rest of the people who got laid off were panicking. I was making a "honey do" list for Larry to work on while he was at home. Then, he took on some freelance and two other part-time jobs. He didn't get any of my list done. But, the jobs did pay the bills for three months until he found work.

My husband and I purchased our home within 3 yrs. Bi-weekly payments were made entirely out of all his pay. Mine went towards the bills, grocery etc. We had saved up a large amount for the down payment. I didn't believe my husband when he came up with the plan. My parents had a 25 yr mortgage. We had a mutual goal and accomplished it.

I love the part when the two of you say "Stop Shopping" lol. When I worked for Macy's this was so hard to do. That was 10 years back in my late 20s but I am much wiser now and ready to start prepping for retirement and a home. 3 out of 5 kids are adults now. I'm 38 and it is long overdue. All the money I have spent, could be in the bank right now. Thank you

I like hearing the gentleman talk, his tone is soothing. She's wonderful too. Thank you. Box cereal is expensive.

Thank you for the tips and for leading by example! My husband and I are Debt-free and in the middle of saving 20% or more for a down payment for a starter home. We want to do it the right way and pay it off early. Also, the joy coming from you both is wonderful. You really inspire me to continue to live simply and fully content along the journey. - (I never comment on videos but I had to for this one!)

@UndertheMedian

3 жыл бұрын

Thank you so much for your kind words, Naomi. We're so glad that you are here.

You guys are seriously GOALS. The interpersonal relationship, the lifestyle, everything. I want to be like you when I grow up.

@UndertheMedian

3 жыл бұрын

Awww... thanks, Courtney. That's very kind. We're happy to have you with us.

Paying less interest over the time is my motivation! We're capped at a 10% overpayment per year without penalty, and made our first one last year. Seeing that statement was such an amazing feeling! Can't wait to do it again this year.

Love you two and so glad I came across your channel recently! I love how you are both on the same page and have worked Together on your goals. THAT is a Huge part of your success! I am 57 and divorced for 13 years. It's been a struggle to say the least. I bought my own small condo 4 yrs ago. You are absolutely correct- creating and Following a written budget is key. 😊 I don't don't wait to see "what's left over" to throw additional to my mortgage. I budget for the additional principal pmt each month. Note: One can't drop PMI anymore after reaching 20% equity if one has a federally funded mortgage such as FHA, VA or USDA...unless you refinance.

We ate out 3x over Christmas vacation and it was $175 total 💀 it adds up so fast

@kenyonbissett3512

2 жыл бұрын

I know your comment was a year ago but we are 5 mos from the Christmas holidays. If you want the 3x this year of going out here is a few suggestions 1. Buy discounted gift cards. Could be a web site, grocery store or the restaurant itself. 2. Sign up for rebate sites for you and then earn referral money, gift cards for signing up family members example: Ibotta if you sign up 2 family members a mo for 4 mos that’s $80 for you and $10 for each of them. They just need a smartphone & email. 3. If your favorite restaurants have a loyalty program sign up. These 3 things can take your $175 to free to $50. Plan your spending or your spending with kill your plans.

@janefromthecountry1820

2 жыл бұрын

We stopped eating out two years ago. Its a move i do not regret.

Thank you to Hope and Larry!!

Amen. I’m planning to buy my first house thanks for your great tips. May God bless you , your family, and your channel!

Ohh I'm so glad to have come across your video! I'm trying to pay off debts right now and I'm really hoping that I can budget and try to live simply and below my means. You both are so adorable and fun to watch 😊 and thank you for the inspiration.

I really love hope’s enthusiasm when she’s talking and love Larry’s examples that he gives us. I obviously believe you are preaching what you do/have done but it’s nice to know the little examples of the tips and how they impacted you. I now feel even more willing to be stricter and tighter with the budget so me and my partner can save for a house. Thanks for the tips!

Thanks for all of your hard work and passing it onto the rest of us. You two are an inspiration to me. Thank you for this video.

Thank you for this information 😁 my husband and I are starting the process to buy a home and I love all this information!!! Thank you 😊

If you eat out, never, ever order a beverage Example: 4 drinks x $3=12. Plus tip and tax...Wow! Or order a kids meal. Cracker Barrell has a great kids meal with one meat, two veggies, biscuits or corn bread, and a beverage. Chick fil A has a good kids meal for 5 bucks with 2 chicken strips, waffle fries, drink, and instead of a toy choose ice cream. If I have to eat out, I choose those. But usually I pack my own food.

@loswife6233

11 ай бұрын

👍kids meals

You guys are goals! This is the best video I've seen on the subject. Kudos to y'all for accomplishing these goals.

@UndertheMedian

3 жыл бұрын

Thank you, Mandy, for your kind words.

Thank you for adding subtitles :) I'm from Spain and is easier for me to follow you videos with subs. Great tips, by the way

Rewatching this video. You two are truly a super power couple. Thank you for educating and inspiring us.

God bless you guys! Helped alot!

Thank you for your advice. I am 41 years.I did learn a lot form your life experience with respect dad and mom. We need a lot people like you who honestly explained all about pay off home loan. bad and good time life moment.I wish you long life all your family.

Remember that "PMI" is you paying an extra charge each month to protect the bank! It doesn't protect you at all. Also once your home does have at least 20% equity-good luck with getting your current mortgage company to drop it. The banks will delay and find any excuse not to drop it. It's certainly not as easy as just calling them and having them stop the PMI. It was so frustrating for us (and we had over 25% equity) that we finally just refinanced at a different company and at a lower interest rate and without PMI.

@UndertheMedian

3 жыл бұрын

Good to know that it's not as easy as it sounds. Thanks for the inside scoop.

@TermiteVideo

3 жыл бұрын

Good Strategy Karyn..

@username00009

3 жыл бұрын

I’ve heard the same thing about some banks taking their sweet time to drop the PMI. Better to not need PMI in the first place!

@naomi8097

Жыл бұрын

We had to get an appraisal before dropping pmi. They don’t usually just drop it.

You guys are great! I just subscribed. Great husband & wife team. I LOVE your wife’s energy, smile and laugh.

@UndertheMedian

3 жыл бұрын

Hi, Mona! Welcome to the family. We're glad to have you with us.

This is an excellent video! Thank you for the great tips! I love seeing both of you!

I love this video. It is amazing how you can have children AND an amazing life in a small home. I am doing it!

Love your advice!! Thank you for sharing!!

When it comes to office " sales", birthdays, group $ gathering - I have a rule $2.00 . My budget is tight and that is what I can afford. I once had a coworker in another office selling Girl Scout cookies throw a tantrum as a box of cookies was $3.50- she could have just added another 1.50 to my donation and purchased the box for her family or taken my donation as part of $ raised. I wouldn't budge and it hurt our relationship but others in the office raising $ for other activities were grateful for my $2.00 donation - we have to set limits.

@UndertheMedian

3 жыл бұрын

That's unfortunate that she took offense. In an office situation where there are a lot of people with fundraisers, you have to set limits or you would go broke trying to keep up with demand. You did the right thing at least offering to donate some money toward her cause.

thank you for the tips! Im taking notes! I will start tackling my mortgage after I finish ny consumer debt!

Really fantastic advice guys, thanks very much. I really needed to hear this motivation right now! 💰

You're so cool, guys! I love your videos! They're really helpful and inspiring! Thank you for what you do!

Just discovered your channel and I must say I'm loving it 💗!!! Thank you so much for sharing these great tips!!

thank you for those great tips may God keep blessing your family

Well, they can take your house, stop paying your Taxes and see what will happen! Plus the rule of thumb is to get a house if you a couple where you can pay the mortgage every month from one of those paychecks,I am glad I gave my daughter that advice because her husband lost his job right after they got their house. When I feel like I need to buy some, I ask myself: how long do I have to work for this amount, and most of the time I put it back!

I plan on starting to pay off my mortgage this month. Great tips. I'm going to trade boxed cereal for oatmeal and cream of wheat. I've been eating more fruits and vegetables and less meat/ processed foods. Having goals are very important. Seeing them visually will help you out. Great tips. I will apply them to my mortgage payoff journey. I wish I had heard these tips before getting a mortgage.

@UndertheMedian

3 жыл бұрын

What a wonderful goal. We are so happy to be on the journey with you.

Thank you for sharing your suggestions.

You have to PAY for an appraisal out of your own pocket to prove you are at the 20% point before the bank will remove PMI. PMI is very expensive. Please save your 6 month's of living expenses AND save your 20% down payment before buying a home!

I have to say, I resonate with this video so much. These lessons are so spot on! I wish I had this information when I was buying my house. I did ultimately pay off my mortgage in 5 years and 8 months and this info is great! You guys are awesome!!

You two are heartwarming and very wise! I had so much to learn as a new wife. This year we are doing an aggressive pay down of the mortgage and hope you have only a few thousand left on it by the time next January rolls around.

@UndertheMedian

Жыл бұрын

That is awesome! We love this so much! Welcome to the Under the Median family. Make yourself at home and if you have questions, let us know.

Thank you so much for such good advice. God bless you.

This is an absolutely fabulous video!!!

@UndertheMedian

4 жыл бұрын

Thank you, Andrea, for your kind words. I'm glad that you found our tips helpful and inspiring.

Love you guys, such a team

Thanks for teaching me all your life experience. God bless you.

What great advice!!!!😁❤ Love your tips !!!!!

Practical reasonable reachable advice and goals, thank you soooo much ❤

Really enjoyed this ! Watching from Spain !

@UndertheMedian

3 жыл бұрын

Thanks for watching, Virginia.

I am a new subscriber and thank you for all your videos. I pay an extra hundred dollars on our mortgage and with you mentioning to double check to see if your money is going to the principal. I did that and realized my extra hundred dollars they was credited to my escrow account! I will call them and make sure to get everything cleared up but I just wanna thank you I just took it that they knew what they was doing big mistake!!!!

@UndertheMedian

3 жыл бұрын

Oh, Jennifer, we're so happy (and relieved) for you that you found that error right away and that the bank will fix it. How wonderful!

Hi. I paused the video to talk with you both. I like your basic ideas, which is how I did it. I am excited to hear more of your ideas. Within 5 minutes I subscribed/liked.

Great video, I learned a lot. I pray that I can put it into practice.

This is funny and thank you for sharing. In many ways we think the same way. :) You are probably a bit more down to the bones than us, but generally we are very similar. We had a tough time in the middle of our lives - raised two children, and unfortunately one of us became ill. So we really had to beware of our spending's. Later things got better but our economic awareness never disappeared. :) When we bought our first house the bank offered us a loan of 3.000.000 DKR. (approx. 400.000$). We bought a house at the value of 2/3 of that. That made us pay of very fast and without much pain. We still have a mortgage on it, and a saving in almost the same amount. The reason for that is, that it's very hard to get a loan, the older you get (I'm 62), so it's important to have free money, when you get old. When I was younger, we also had a 15 year mortgage, but today we have a 30 year of the same reason. And the interest is only 1% a year for the loan, so it's no big deal. When we bought our house, we also made a point of NOT finding a "dream House". Instead we found 10-20 potential houses, that fitted our needs, and then we started bidding under the sale price. We saved a lot of money that way.

It may be overwhelming to see the debt but baby steps taken are very well rewarded. Bottom line is the one should not become immune to debt and one should have the urge to pay off debts asap.

Great tips ,thank you!

Totally agree that banks are willing to lend too much money - no way would I ever want the loan amount the bank said I could afford.

Using these tips for paying off my car. Thank you!

Thank you! God bless you.

Thank you guys, it's very inspiring. Greetings from NZL

Thank you guys :)

Great content! 👏🏽👏🏽

what a great in depth video!! Now that mortgage rates have increased exponentially I am sure you will be getting far more views on this topic. Developing and following a budget is the KEY to saving money and having financial freedom.

Great video lots of wisdom.

You guys gave wonderful advice and I like how you shared it as a couple. Team work! Lovely couple.

@UndertheMedian

3 жыл бұрын

Thank you so much, Yolanda.

Great advice! Thank you! ツ

So funny, our home; a starter home, was built in '33. I have put in a ton of sweat equity but we're working on paying it down fast. It's a beautiful home in a wonderful neighborhood and the only thing missing is a bathroom on the main floor. We've paid off about 25% in 2 years so we're on our way!

Great tips. Lovely family.