Debt Payoff Report: Month 15

Guys, we have one month left in this year.

What are you going to do with it?

As for me, I’m going to end the year the same way I started it – with the goal of paying off my house.

Ellie Mondelli is 29 and is almost through paying off her final debt - her mortgage.

November was a great month for me.  I took almost two weeks off from work, starting with two nights in Chattanooga and ending with Thanksgiving dinners.

A couple days later, I received an early Christmas gift in the form of a new baby cousin.

It was also one of those magical extra paycheck months for me…which means it was time for Murphy to come around.

The first dryer I ever bought when I was 21 finally died. We have plans to purchase an expensive ventless combination washer and dryer after our house is paid off, which will accompany a house renovation that we’re not yet prepared for. So, we shopped around and found a good, used dryer for less than $100 that will work great for the length of time we need it.

Shortly after that, we hit a poor coyote on the way to Walmart one night. (I can just hear my husband now saying, “The coyote was on the way to Walmart?!”) There was no damage at all to the front of my car, but there is some rattling underneath it now that we will need to get checked out soon.

Having the extra paycheck meant that we won’t have to touch our sinking funds or our emergency fund for whatever repairs my car will need.

Which is good, because we skimmed off the top of our emergency fund this month to finally purchase tickets to the 2018 FIFA World Cup in Russia!

This may sound crazy to some of the super Dave Ramsey fans, but we had been feeling for a while that we had too much cash in our emergency fund. We decided that instead of slowing down principal payments to our mortgage (especially since we’re SO CLOSE), we would just take it from our emergency fund account in order to take the trip I’ve been dreaming of since middle school.

And speaking of principal payments, below is how much we have now paid!


November: $3,145.51


Year to Date: $46,029.18


Start (Sept. 2016) – Current: $60,541.79


Remaining: $16,593.93


How are we doing this?

It’s very simple. We live on my income, and our standard monthly mortgage payment comes from it. We use every cent of my husband’s paychecks, as well as any other extra, unexpected money that comes our way, as principal payments to our mortgage.

We contribute enough to our 401(K)s to receive our employer matches. Once our mortgage is paid off, investing will take the place of paying off debt, which means we will continue to live on less than half of our income.

If you’re on a journey of changing your life and bettering yourself in any way, I’d love to hear about it. Leave a comment or find me on Instagram!

Follow the rest of my journey of paying off my last debt - my mortgage!This 29 year old is almost through paying off her final debt - her home!

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