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Debt Reduction

Our renegotiated mortgage!

We renewed our mortgage last week. I was worried about renegotiating for the last few years. Luckily it’s a great time to renew. We got a 5 year 2.9% variable mortgage.It’s like we got a raise! I’m super happy.As you may have read in a few earlier posts, we are still in debt. We have paid off a fair amount of our debt but having our mortgage payments hundreds of dollars lower each month will really help. Our goal was to be debt free (other than our mortgage) in three years. The three years is up at the end of 2012. It is very doubtful that we will get there in time but we are well on our way. Gail Vaz Oxlaide’s blog, website, tools and book about debt freedom has been the reason for our success. I love Gail. I often think “What would Gail do?” when I want to spend money I don’t have.

We have the option to make larger payments or lump sum payments if we want to. For now we will be using the money to help with day to day expenses, increasing our emergency fund and setting aside money for known future expenses. Christmas is coming up along with birthdays, house insurance and car insurance. It’ll be nice to have a bit of wiggle room.

What do you think about our mortgage rate? Pretty awesome, eh?


Small rooms or dwellings discipline the mind, large ones weaken it. -Leonardo Da Vinci

Frugality is one of the most beautiful and joyful words in the English language, and yet one that we are culturally cut off from understanding and enjoying. The consumption society has made us feel that happiness lies in having things, and has failed to teach us the happiness of not having things. ~Elise Boulding


About stephanieough

Wife, mom, concerned citizen of the earth. Striving towards intentional living rather than blindly following. Former Education Specialist for a corporation, I have now taken a step back to spend time with my family and work closer to home. Hoping to reduce our waste through refusing, reducing and reusing so that we will not have to recycle as much. Also, I love to explore zero-waste fast food and take pictures of my sucesses. I'm a fan of British comedies like Red Dwarf and Black Adder, Kevin Smith and his movies, Asian food, documentaries, biographies and going to Las Vegas on vacation. If someone told me I could only listen to the Beatles for the rest of my life I would die happy.


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