$1,000 Money Challenge

[Sawin]

just spent my last $1000 towards wifes masters! She finishes this summer....total investment probably $15,000 just for the masters. total return = unknown!

15k for a masters isn't a bad investment at all. Congrats to you both.

[sniper7]

15k for a masters isn't a bad investment at all. Congrats to you both.

thanks, I am just tired of paying the bill every 4 months! glad it is over so now I can get more sweet toys!

[Sawin]

thanks, I am just tired of paying the bill every 4 months! glad it is over so now I can get more sweet toys!

[keylay31]

Tagging this thread for future use. When I have a bit more money, I'm going to play as well.

CM, I'm buying a house this month for myself, do you hve any advice? I her about people paying off mortgages in short periods of time with different types of loans like HELOCs. I'm set up for a 30yr fixed, but haven't closed.

[BuffCyclist]

Tagging this thread for future use. When I have a bit more money, I'm going to play as well.

CM, I'm buying a house this month for myself, do you hve any advice? I her about people paying off mortgages in short periods of time with different types of loans like HELOCs. I'm set up for a 30yr fixed, but haven't closed.

You can pay off your mortgage faster by doing split payments. It does half of a full payment every 2 weeks, so you end up making 13 full payments per year instead of 12. In addition, if you can add extra towards principle, that will knock it down much faster.

[ChunkyMonkey]

Tagging this thread for future use. When I have a bit more money, I'm going to play as well.

CM, I'm buying a house this month for myself, do you hve any advice? I her about people paying off mortgages in short periods of time with different types of loans like HELOCs. I'm set up for a 30yr fixed, but haven't closed.

Those were the days when we were still able to secure first position lien HELOC. Simply put, you deposit your paycheck directly into the heloc hence lowering that month principal balance in which the interest is based upon - meanwhile you still make sure a full monthly payment is still being applied (less interest that month = more payment toward principal).

This 'trick' is highly depending on your payroll amount and interest of heloc to make it work. I did try it once.. had a 87k heloc on first position, and yes it was being paid down aggressively by the system. Good luck finding a bank that will do heloc purchase though.

[Irving]

Anyone a millionaire yet?

[Great-Kazoo]

Anyone a millionaire yet?

No, but i'm paying off our mortgage.

[MrPrena]

Anyone a millionaire yet?

nope,,,,,,

[Irving]

No, but i'm paying off our mortgage.

That's the whole goal!