Financial motivators

One of our biggest financial goals is to have enough money on hand within the next 3-4 years to completely pay off our mortgage. I’m excited about doing that, but as you know 3-4 years is a long period of time to remain completely keyed up and motivated, especially since we’ll be making what will appear to be only minimal progress on the mortgage itself during that time period.

But I accidentally hit on something that should help me maintain my motivation. I’ve mentioned before that we were in the process of refinancing our mortgage. Well, the refinance is finally complete. Our old mortgage was with the same bank that we have our checking accounts with, and of course the refinance means that it’s been paid off. I logged in to the online system there to check account activity and saw this:

Paid in full mortgage balance

My first thought was “Aw man, won’t it be nice when we see that for REAL? At least this means the refinance is complete.”

But then I realized just how excited I’d been, however briefly, to see that “PAID IN FULL” line. It really motivated me and got me even more fired up about our plan. I think that literally seeing the results of your plan ahead of time, even though you haven’t accomplished it yet, can help you stick to the plan and make it become a reality.

I’m going to print that image up and paste it somewhere I’ll see it regularly.

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Posted in Getting out of debt on Apr 10, 2008

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2 Responses to “ Financial motivators ”

  1. # 1 Mom @ Wide Open Wallet Says:

    awwww… how fun. I would like to see that too. We are working towards paying off our mortgage too, but 3-4 years isn’t going to happen. Maybe 13 or 14 years.

  2. # 2 Fabulously Broke Says:

    That is such a great idea

    I wish I could create a fake letter saying I’ve paid my student loans off to motivate myself LOL

    If only I knew what they looked like.

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