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Friday, December 19, 2008

Talk about INTERESTing

This site is no longer in use. You can see all this information and new posts at my new blog Maggie Muggins Designs.

We're in the process of refinancing so Interest is on the brain. So I discovered a new tool to play with: The Early Mortgage Payoff Calculator It blew me away when I tried out our numbers. For example and extra $100 a month would save us over $50,000 in the end. I understand Interest, Rates and everything else, trust me. But I'd never really played around with the numbers before. Let's just say - This Little Family is going to be doing some serious budget evaluation in the next few days.

"Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation; it never visits nor travels; it takes no pleasure; it is never laid off work nor discharged from employment; it never works on reduced hours. … Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders; and whenever you get in its way or cross its course or fail to meet its demands, it crushes you." - President J. Reuben Clark Jr. Conference Report, Apr. 1938, p. 103

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