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Moving Weekend

May 27, 2011 By Cathy

(Tank, skirt, Jess LC tote, hat, bangles, wedges, print from One Sydney Road)
This weekend is kind of a big deal….we’re moving into our house!!! By the time you read this, we’ll (hopefully) be packing everything into boxes. And instead of that cute outfit, I’ll be wearing scrubby shorts, T-shirts, and tennis shoes. Hopefully we’ll take a break and sneak away for a Memorial Day BBQ. I’ll pull out the cute clothes for that….if I can find them :)
While owning a house is huge and really exciting, I’m a little sad about leaving our neighborhood in the city. The lake is only a few blocks away and everything is within walking distance. Or an easy ride via public transportation. Plus, it will be a little harder to get together with friends. I guess it’s all a part of growing up.
And nothing makes you feel more like an adult than a 30-year mortgage. Well, maybe having a family, but we can’t speak for that one yet. Yes, we have the pleasure of making our first payment on June 1. In preparation for that momentous event, I checked out our loan amortization table and made a few additional calculations.
Our monthly payment is pretty reasonable, so I calculated how much we could save in the long run by paying $100 more towards principal each month. Through the magic of compound interest, we could potentially save $35,000 in interest and pay off our mortgage a little over 4 years early! Sweet! John and I decided to pass on cable for now and use that money towards larger loan payments. And if we ever need that extra $100/month, we can make the standard mortgage payment.
And since it is Memorial Day weekend, I’d like to say a big “thank you” to all who have served in the armed forces, especially those who have fallen in service to our country.
PS – More Friday’s Fancies can be found here!

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Filed Under: blog, chic-onomics, house Tagged With: Friday, Jess LC

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Reader Interactions

Comments

  1. Stephanie

    May 27, 2011 at 2:01 pm

    Good luck moving!!!! You have great weather for it!

  2. Vee

    May 27, 2011 at 2:10 pm

    We owe our first loan payment on June 1 too – wahoo! That’s the fun stuff, right? haha! We’ve also decided to pay a little extra… the equivalent of one extra payment per year. We couldn’t believe how much money we would save doing that! Good luck with the move; I hope everything goes smoothly for you.

  3. Drew {Coral Cafe}

    May 27, 2011 at 2:32 pm

    Good Luck with the moving!! Know the feeling!! Have done it 4 times in the past 2 years! Love those Toms wedges!!

    Have a great memorial day weekend! ;)

  4. jillian :: cornflake dreams.

    May 27, 2011 at 4:11 pm

    good luck with the move! love the outfit you picked out :) i hope you can enjoy some of the sunny weather this weekend too! xoxo jillian:: cornflake dreams

  5. Melissa

    May 27, 2011 at 5:11 pm

    Since we are right down the street, I know how sad you must be to leave this neighborhood! But how exciting to have a whole house and it’s all yours :) Have a great weekend and be sure to relax a bit too!

  6. Cathy

    June 1, 2011 at 4:10 am

    Hi ladies! Thanks for your comments! We survived the move, now it’s a matter of unpacking…ugh.

    Vee – glad to hear that you’re also paying more each month. Isn’t it crazy how much you can save if you just pay a little more?

  7. {av} | {long distance loving}

    June 6, 2011 at 5:21 pm

    Holy moly! I can’t get over just how much money you’d save by throwing an extra $100 at your mortgage a month! WOW! I hope the move went well–and that it was painless! I think buying a house definitely has its tradeoffs, but I think they’re all good ones :) and the good thing about Friday’s Fancies is that you can dream without spending a dime, right? So happy to have you as a FF Faithful :) xoxo {av}

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Hi! I'm Cathy, an accountant and lover of cupcakes, running, nesting, and my family. This blog was born out of my Midwest sensibilities, the thrill of a good bargain, and helping others. More…

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