Hello Everyone,
This seems more like a family issue than a personal finance issue, though it could go in either.
On May 29th, we made the final payment on the mortgage. It's done. Gone. Finally.
Right now it doesn't feel any different. We need to build our emergency fund back up. We'd like to shop at the farmer's market a little bit more.
Mostly, we just want to make sure we're not put in a position of having either us, or our children, have to borrow money for their college. I'm still not really clear on how to do that - it seems like both students and parents are expected to take out loans - but I think it will all work out. Once the emergency fund hits a decent limit, we'll start saving money in the state education savings account.
Right now, I'm just tired of the focus it took to pay the mortgage off. I'm not so much relieved as exhausted. I think the relief will come with the second paycheck this month, when we realize that it doesn't have to all go to the mortgage.
We paid it off in 16 years instead of 30. I guess that's not so bad for a family living off one income most of the time, and one and a half incomes for the past three years. (Plus my beekeeping income, and all the odd jobs I did while being an at-home-dad).
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