Stopping Principal Payments

After listening to the ChooseFI podcast Episode 5, I decided to stop paying the $151 extra a month to my house. I had originally put that extra amount to try and decrease the length of my loan. When I had originally spoken to my mortgage company, they had said that the extra $151 is like making biweekly payments which will shorten my loan term. They would have had to charge me extra just to make biweekly payments so this extra $151 would still let me achieve my goal without being charged.

My interest rate on my house is 4%, and again since I am in debt repayment, it just makes sense that I stop the principal payment, and put that $151 towards debt. Once I am debt free, I would probably put the money towards investment with the hopes of earning more than 4%, and just slowly pay my house. At least, that would be the plan for now.

Yesterday’s expenditure:

~$50 (gas)

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