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How we pay double off our mortgage




Adopt a Minimalist attitude to our wardrobes
It is estimated that people only wear 10 percent of their clothes 90 percent of the time. That means you are not really using 90 percent of your wardrobe. Imagine the money you could have saved if you’d never bought those clothes in the first place. Going Minimalist with clothes, as in following Courtney Carver’s project 333, lets you step off the fashion consumer treadmill as well as save loads of cash. When we do have to buy apparel we either go for good quality at the op shops or just plain good quality so that it lasts longer, therefore being truly valuable*.

Use the library wherever possible
The library offers free books, DVDs, CDs, WIFI access, games and even some courses. In most cases if your library doesn’t have the book you’re after you just need to request it and they’ll get it in.

Buy in bulk when possible
Buy in bulk when it actually works out to be cheaper and you actually use the product you’re buying. For example I like to buy a side of beef from the butcher for $7/kilo and put in the deep freeze. Other examples include tooth paste, toilet paper, rice, passata, coconut oil, sheep/goats cheese, chia seeds among many others.

Automate the payments
If your minimum mortgage repayments are $350 per week increase the automated payment to $450 or more and then budget with what’s leftover. If the money disappears into your mortgage before you can see it then you probably won’t even notice the difference. This will allow you not only to pay your mortgage off quicker but potentially save tens of thousands on interest in the process. I would rather have that money in my pocket rather than give it to the bank.

Going out expenses
Everybody is different here and I think it is just about finding what works for the individual or your family. Personally we like to eat take away pretty much ummmm never. However if we do go out to a restaurant I love a really nice meal. I just about cry (it’s the Italian in me) when a meal that I’ve paid good money for it not worth it. Oh but when it is I’m in heaven. I’d rather go out less and have a great meal than get take away every week and have mediocre crap. Once again, quality over quantity.

Drink less alcohol (or none)
Apart from being great for your health, drinking less or not drinking at all is a very good way to stash the extra cash into the mortgage.  And as with restaurants and take away I’d rather have quality less often than 7 buck chuck nightly. Also next time you are buying a bottle of wine just imagine paying $25 for 750ml of any other beverage????

Insource as much as possible
Ok so unless you are earning huge dollars and simply don’t have the time to vacuum your own carpets because you are working you tushie off every minute of the day, then DO IT YOURSELF. Yep clean your own house, clean your own car, mow your own lawn, do your own cooking, do your own ironing, wash your own dog.

Smaller house anyone?
As with most things in my life, my house represents the quality over quantity ethos. It is small but very well built and that’s the way I like it so no need to make changes for us. But if you are struggling to pay off the mortgage to your 4 bedroom, 3 bathroom Mc Mansion then maybe you should consider downsizing. Ask yourself how much of that space are you actually using? Is it worth the hours you have to work to pay off the monstrous mortgage?



*A fantastic documentary that makes you really think about how and where you buy your clothes is called “The True Cost”. Do yourself a favour and have a look.

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