It’s Okay to Talk About Your Mortgage – Part 2
In our last post, we opened our minds to thinking that we can do something with our mortgage to get on the course of a life that we design. This week we need to take the lid off of the box and start some forward thinking. Let’s imagine how we want our lives, if there were no restrictions or setbacks. This is where planning becomes a little more of a challenge. This is not something that ordinary people can easily do, but I want to remind you that you’re not just some ordinary person.
Don’t Just Dream, Imagine
This is your Family Plan and you can write into it anything that you can not just dream, but imagine. I have a mortgage, that’s not new, but I don’t want the mortgage to have me. So what do I mean by that? In order to dream bigger, sometimes you need to research a little. The obvious dream we could imagine is not having a mortgage or in my case having my mortgage paid off. So if we were to make a plan on how to get to this destination where would we begin and how can we get there?
I know many of you want the mortgage to just disappear. You want to pray and have God miraculously cancel your debt. While this is possible, that’s something God would do and our plans are the things we can do until He does what He does. In other words, He won’t move until we move and this is where the plan comes in handy.
Make More Money or Save More Money
So what can I do? Pamela and I realized after studying it and talking to others who had mortgages, that the interest rate is very important. This is something that doesn’t make much common sense, the interest rate. It’s the amount taken from you just for having the loan. We need this as low as possible so we started planning for just that – a low interest rate.
Next, we learned about “escrow”, the savings account that’s used to hold the money to pay property taxes and mortgage insurance. If you’re not disciplined enough to save it yourself, then escrow can be your best friend. It’s designed to make your life easier, but note it raises the amount of your monthly payment. Decide what you need in your plan, discuss it and keep moving in the direction of the plan.
In order to get out of debt, you need to either make more money or save more money. Your family plan should give you ideas on how to do both. Consider bundling your homeowners insurance with with auto and life insurance. Bundling often lowers the rate of having individual insurance plans. Every dollar you save is truly a dollar more you’ve earned yourself. Your second job should be to study your family’s business activities so that you can find as many ways to accomplish your dreams, your plans.
How Can You Make Your Plan A Reality?
Our goal is to pay for our home and pay it off early. If we don’t get that miraculous debt cancelling, mortgage cancelling result, what can we do to get it cancelled? We can plan and execute a plan that will set us on course to pay off early. We can target paying all others debts that we might have so that we can focus all of our efforts on our mortgage. We can also increase the value of our home so that it’s worth a ton more than when we purchased it, just in case our plan leads us to sell it and use the money we earn to outright pay for a new home. There are many ideas that become visible once you start putting your plan on paper. Get ready to see your impossibilities become possible!
Today is Friday!
This post is simply to get you to think of what’s not impossible, but possible. We already know we can’t do what’s impossible we need God for that, but in the meanwhile we can do what’s possible. We can plan to do something with our mortgage that aligns with more than just our dream, but what we can imagine.
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