When you Accidentally Pay the Mortgage Twice in December

“…But if you paid the mortgage twice, we’d be out of money in our checking account…?” Was Monica’s inquisitive statement.   “Exactly.” – My response     Let me briefly set the “I double paid the mortgage” table here…   We’re in the heart of December now. Christmas gifts, travel plans, party preparations, and a whole heap of other activities were on the mind (and the budget). Add that to the regular bills and responsibilities… I’m probably preaching to the choir here – we’re all busy, right? ’Tis the season!   I’m crying a bit to write this, but our student loan and mortgage payments only differ by a few cents. We take advantage of the automatic withdrawal functions for both but a recent refinancing of the student loans (blog post to follow next year) was done through a new lender, and hence a new website.   The combination of a hectic season […]

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Wins and Losses Series: Mark from The Retirement Spot – “I was actually helping the company eliminate my job”

Wins and Losses Series: Mark from The Retirement Spot - "I was actually helping the company eliminate my job"

Hi, Team!   Welcome to another edition of MikedUp Blog’s Wins and Losses Series, where we interview a generous participant about 4 of the best and worst moments of their life. The point? To learn from the past so that we can improve in the future!   If you’re interested in participating in the Wins and Losses Series, please send me a note here (you don’t have to be a blogger to participate!).   Check out the complete Wins and Losses Series Here   (Photo courtesy of Kevin Newton)   This week we have: Mark from The Retirement Spot!   Spoiler alert – Mark crushed this post and it’s full of knowledge gems. Take out your notebook… I know I did. Take it away, Mark!       I read some of MikedUp Blog’s series on Wins and Losses, and I said: “Oh yes I want to participate in this”.  What […]

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Are you missing the ‘Golden Era’ for an opportunity to refinance?

Short answer: Current market and personal conditions are leading Monica and me to consider refinancing right now.   Long answer: This decision depends on many variables that are unique to you.   First off, I’ll give you the background of our situation and the reasons for our decision to say ‘yes’ or ‘no’ to refinancing, then I’ll cover the important factors to evaluate when considering a mortgage refinance of your own.   Where we’re at   We bought our house in March of 2015 with an ARM (Adjustable Rate Mortgage). Initially, this option sounded great for where we were financially. The rate was incredibly low, 3.875%, and would remain fixed for 7 years. This would’ve kept us at 3.875% until March 2022, and then we’d have a significantly smaller balance and only 23 years left on the term of the loan.   The downside   That whole “Adjustable Rate” thing had me concerned. […]

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Eliminate ‘bad debt’ (financial pillar #4)

Check out the complete list of Financial Pillars Here   Excessive use, or misuse, of debt is 1 of the top 5 reasons people go bankrupt. Bad debt can also be the harsh instrument by which your paycheck’s take-home, for example, goes from $1,200 to $500 (car payment, credit card balance, a monthly payment on furniture, …). The #1 way to fix your problems with bad debt is to NEVER, under any circumstances, let it into your life.   For some of us, unfortunately, bad debt is already in and roaming around our homes, apartments, and vehicles. What we’ll do here then, is this:   -Review how to distinguish bad debt from good (yes, there is such a thing), -Evaluate ways to eliminate any bad debt already accumulated, and -Make certain we have a plan in place to keep bad debt out of our lives for good.   What separates bad […]

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