Just bought a house and made my first mortgage payment. What tips do you have for me to help save so I never have to worry about making future mortgage payments?

Posting as :
works at
You are currently posting as works at

Not sure where you are in your career / disposable income, but I’ve had success by:
1) auto depositing my mortgage amount into a separate account and have the mortgage paid from that account. (E.g. 1/2 mortgage amount each paycheck). You learn to live without it since you don’t see it. You’ll also set aside 1 extra payment if you get paid bi-weekly versus twice a month.
2) take some portion of annual bonus (if eligible) and put it into the mortgage account if you want to build up a bit of “worry free”. I always keep 6 months of expenses in an account but it took time to build up to that level.

If you pay the mortgage biweekly instead of twice per month you'll save thousands https://www.mortgagecalculator.org/helpful-advice/bi-weekly-payments.php#:~:text=Tens%20of%20thousands%20of%20dollars,additional%20mortgage%20payment%20is%20made.

Airbnb it whenever you’re gone. grow weed in your basement

Related Posts

Decided to payoff my mortgage.

like

I’m thinking of switching from robinhood to another brokerage, any suggestions?

like

Can anyone explain why the Aston southend is so expensive ? 2.9k for a 1 bedroom?

like

My husband and I want to buy a condo in Chicago in a year. We are close to having a down payment plus closing and emergency funds in a HYSA but are still a 8 months to a year away from buying. I feel like we are losing money by keeping it in cash but it is the safest option. Is that true?

like

Looking to put $5K in the market. Which ones would you buy? Lululemon, delta airlines, Peleton, docusign, Zoom, etsy. Any that I’ve missed and should consider? Already have MSFT, BRKB, NVDA, BABA and multiple broad ETFs

like

Dropped in 6k to my Roth on 1/1 🥳

Post Photo
likeuplifting

SO and I have finally saved $500k. Should we buy a house or a green card (Indian born on H1 in the US, I-140s approved)

like

What are your thoughts on buying a house now and refinancing later? (Hopefully when interest rates are lower)

like

I am sick of being a realtor! I've been trying for 5 years and have only sold 3 houses. Where I'm from (small Southern town) nobody is buying. Most people's families already own homes and it's just a bummer to see all these nice houses deteriorating over time.

like

A very privileged question, but do any of you expect significant inheritance? And if so, how has that affected your retirement planning?

like

What’s happening with $GHIV today? Took someone’s recommendation to buy a couple options and I’m +50% out of nowhere. Wasn’t expecting this to kick in until closer to the January merger date. Keep holding?

like

Pre-approved for a home but the rate lock expired and now we have to re apply. My husband lets me know his credit score dropped 111 points because of credit card utilization. Even if we get it below 30% ( which we can) not sure it will quickly reflect. I also added him as an authorized user on a high limit credit card I have. Any other suggestions besides trading him in lbs

like

Recently sold my home and got a check for 190k, does anyone know if this will for sure hit my taxable income for 2020? Is there any way around this? There has got to be a loophole. . Help

like

How do I begin investing? Graduated in June 2018 and started my job in August 2018.

like

Finishing up my masters and once I do, I’d like to dedicate time to digging deep into learning options trading. Anyone have recommendations on books, videos, courses, etc?

like

Can I live comfortably in Dubai on 25k a month? With wife and kid too?

like

I have better. com offering me 3% with ~800dollar credit vs another at the same rate, no credit but it's a loan officer recommended by my realtor who has actually been very helpful. I have heard service at better tends to lack after rates lock. Any firsthand experience?

like

Is 50k enough to live in London?

35 yo with 340k in 401k. Same amount between investment and savings. Would it be stupid to lower 401k contribution to pay down mortgage faster? (250k remaining, 2.5%/15 yr).

like

How much is Sodexo card amount in BNYm. And can we claim Wifi Amount also ?

like

More Posts

I really miss breeding out one night stands.

likefunny

“Released to RMG. Update your skill profile”…what to do next ? I recently joined and was assigned to a project but their requirements changed and my manager has released me effective 10 Feb. What should I do next to get assigned to a project?

like

Can someone help me on what should one ask for B8 position for project management having 8 years of experience .

like

I am looking to buy my first rental property in a couple of months. What questions should I ask the realtors during the vetting process.

Not looking for a home for myself neccesarily . I am treating it as an investment.

like

What are the benefit differences between an equity partner and a non-equity partner (e.g. managing director)?

Community Manager: Outdated term for social. What would you rebrand it as for a more real-time & accurate description of life in social? 🤔

like

It took the horrific and completely inexcusable death of George Floyd to move the racism issue to the forefront. And while it’s a crime of a much lesser degree, with different circumstances, what’s it going to take to get ageism properly addressed? Intelligent thoughts/debate requested only please.

like

allocated to a project in tcs....How can I get release from it. ..I want to join some other projects

like

I have $100K liquid cash over and above maxing out 401K, HSA, College fund, investments in Index funds and emergency fund. I plan to leave $25K for contingency. Of the $75K is it wise if I purchase I bonds worth $30K (myself, spouse, kid)? Current combined rate is 9.62 Does anyone foresee the interest rate drastically reducing? I don’t intend to cash them out before 5 years.

Does Deloitte India renegotiate on the basis of counter offer?
Deloitte

like

Hi all,

I am currently working as QA experience 3.5 years. B.E Computer science from Tier 1 college. Landed up in QA not by choice.

Now willing to make career shift as full stack developer. What do I need to do.

like

How safe is storing crypto on blockfi to earn interest? Seeing recommendations to store crypto offline for safety. Hence trying to gauge if it’s worth the interest on blockfi.

like

Is there any chance we can change the domain we are working in?

like

Boyfriend has seemed to be dropping a ton on me lately, even after I got bad news that my company is t doing so hot this week and layoffs are approaching. First it was that we may be moving to another state for his job, then it was that his brother may need to move in with us for a few months after he graduates

It’s just a bit overwhelming at this time and I’m not sure how to communicate through all of this being thrown at me. 3 yrs together and we were friends for many years before that.

like

Hello all,

Would like to know specifically about Queer inclusion at SocGen
Societe Generale. What is the attitude of mangers and HRs towards treating LGBTQ identifying candidates? Is company really inclusive or it’s just a lip service? Considering an offer with the company but being an out and proud Queer woman, super anxious and concerned.

Probation is extended in Socgen for 3 months, does it mean they will fire or it happens to many people?

How guys, I have cleared SG Societe Generale Interview? How much CTC can I expect from SG? I'm holding an offer with a 10.7LPA +1Lakh joining bonus. Yoe-2yrs

How can I pivot into indirect tax technology as a indirect tax advisor? Should I get some certification in using some of the tools or just find a job in that space and learn on the go?

like

I am in need of some advice I have a bachelors in healthcare administration. My long term goal would be a CEO of a hospital. I am looking at masters programs and need some advice as what to get my masters in. I could get my masters in healthcare administration but would like to look at something a little different maybe healthcare leadership or something. Anyone have some advice?

like

Hi I got an external monitor along with Dell laptop , and the monitor fell down and has vertical lines on the screen, should I get it repaired outside or give it to the office IT team.

This question is for a friend. Please do let me know.

Additional Posts in Frugal Living

What are your frugal tips?

I posted this on another thread the other day. For the weeks you are home you need to cook and the cheapest food is at Business Costco, not regular Costco. Search for a Costco business center in your

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal