My Finances Seem Simpler With A Mortgage

I don’t know why, but my finances seem simpler since I acquired the mortgage and that wasn’t even that long ago.

Maybe it’s because my budget has fewer line items now. The apartment buildings I lived in billed for each of the utilities separately. Rent for parking was a separate line too, so I had a gazillion lines in my monthly budget that actually just went out in one withdrawal to my apartment building:

  1. Apartment rent
  2. Parking spot rent
  3. Hot water utility
  4. Sewer utility
  5. Trash utility
  6. Utility administration fees
  7. Water utility

Now I have just three lines instead of seven:

  1. Mortgage payment (P&I) – monthly
  2. HOA dues – monthly
  3. Property taxes – yearly/semi-yearly

And in a few short years, I could have it down to only two.

Maybe it’s because I plan on putting all of my “savings” towards paying down the mortgage, so I don’t really have choices between the interest rates on various accounts or opening a CD. The only thing (about my finances) that I think about now is what my mortgage balance will look like at the end of the month.

Somehow, I’m not scared that my savings buffer went from $100,000 to $30,000.

Next up: find some new hobbies now that I’m no longer condo hunting. Dating sucks.


18 thoughts on “My Finances Seem Simpler With A Mortgage

    • The HOA pays water, sewer, trash, so that’s all bundled up into my HOA dues. Most buildings aren’t set up for individual metering, so the HOA pays them for the whole building and budgets that into our dues, whereas my apartment building billed us based on some formula to cover the utilities for the building.

      I missed the electricity bill on the lists, but I’m still paying it.

  1. And no down payment fund! Investment options all seem so terrible right now, might as well pay off the mortgage. I don’t think I’ve ever heard someone say, ‘I wish we hadn’t paid off our mortgage so quickly’.

    • No decision between car fund or down payment fund. Car fund will probably be first on my list once the mortgage is paid off.

      If investment options are all so terrible right now, isn’t that the perfect time to be buying in, since your share price would be “low”?

  2. I find it better with less items too =\ thankfully my rent includes water & waste so I never see those bills.

    Dating only sucks if you’re stuck in too many uncomfortable situations. Otherwise it’s just cute guys buying you drinks.

    • I’m never stuck in uncomfortable situations and I’ve had plenty of good dates. I can even see something as a good date even if I realize I didn’t like the guy. I mean, come on, how can going for ice cream or crepes not be fun?

      I just don’t see how dating turns into an actual relationship (it hasn’t really worked for me thus far) and it always seems that there’s no mutual interest after a couple of dates. Maybe I’m just being too pessimistic.

      • I actually hate guys buying me drinks as it gives me the impression that they don’t have honorable intentions. There are so many better date ideas!

  3. It would have to be a very, very bad guy to ruin something like ice cream and crepes! :)

    I think you might be a bit pessimistic, as it doesn’t sound like you have found the right guy yet. He’s out there! You’re young and kicking a** in the other aspects of your life! He will show up eventually, and I’m glad to hear that you are still able to enjoy the dates. Boy, if you were closer, I might have a friend or two that I could set you up with! Hearing that never gets old, hey? :) Hope you had a good weekend!

    • It sucks that you have to keep looking and looking and looking, I understand. Oh, what you need is patience! :)

      • You clearly weren’t following along on my condo hunting journey very well because I wasn’t very patient at that either ;)

    • Very true! I would actually say that I’ve pretty much never gone on a date with a bad guy and even if there was no chemistry, I’ve usually had a good time.

      Haha, I was definitely feeling a tad pessimistic when I wrote this post last night ;) I’m feeling better now after a day of work – coding always makes emotions feel so much less terrible! I actually only have one friend who has incessantly been trying to play matchmaker. Being young has some advantages, I guess!

      Hope you had a good weekend too!

    • Nope, I need to work on that… The only appliances that I have any idea when it is from is my hot water heater. It says 2006 on the outside. Maybe I can do some deducing on the other appliances from the model numbers?

  4. I’m glad you chose a 5/1 ARM since you plan on paying off the mortgage early. I just wrote an article on ARMS vs fixed :)

    I definitely think mortgages make things simpler. I impound my insurance and property tax so my monthly payment for housing really is my monthly payment.

    • That’s exactly why I chose the 5/1 ARM :)

      Condo insurance is super cheap (my policy is about $200 for the year) and my insurance provider auto-debits monthly for no additional fee. Property taxes aren’t really that bad either and since I’m paying it off quickly, I might as well figure out how to pay them now.

  5. auto-debits??? Your insurance doesn’t take your credit cards?

    BTW if you need a hobby- just come hang out with me and check out all the socal theme parks and their roller coasters. :)

    • I don’t know if it does, actually. And my car insurance premium is more expensive than my highest card limit, so that’s a moot point…

      That hobby doesn’t go so well with my plan of staying put for July and August!

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