“Chains of habit are too light to be felt until they are too heavy to be broken.” -Warren Buffett

Mortgage free in our 30s!

We finished 2020 with a huge moment for our family and it passed without any fanfare.  We paid off and discharged our mortgage!  It's unreal to think about the fact that we now officially have zero debt.  

Often our zero debt declaration has been accompanied by, "except our mortgage" which is seen as "good" debt and almost inevitable if you want to pursue home ownership.  But now, it's just full stop.  Zero debt.

So here we are, in our late 30s, kids aged 7 and 10 and mortgage free.  We have a beautiful property, home, pool/backyard oasis, and generate solar power to offset half our costs to power our life.  It's incredible.  I feel so blessed.  

Because of our commitment to being debt free, we've been able to have Justin leave his day job and pursue his passion.  I've continued to work part time at a job I love.  It's unbelievable and almost feels too good to be true.  Especially because so far, nothing has changed :)  

Life looks exactly as it did when we still had a mortgage.  We haven't changed our lifestyle, or increased spending.  In fact we've been challenging ourselves to spend less as we get the business off the ground.  We've switched our cells phones to public mobile for a fraction of the cost and are continuing to explore avenues to decrease our grocery bill and other expenses.

Some friends are wondering what we'll do with our newfound "freedom", and the answer is not much will change in the short/medium term!  We still plan to focus on building retirement savings, for Justin given that he no longer has an employer matching program.  We'll continue to add to RESPs for the kids.  We plan to live off Amy's income as much as possible while we see where the business takes us.  We can and will draw from the business, but are hoping to do that more based on financial plans, and not because we need the income.

We do hope to take a bigger trip or two over the next 5ish years, but we aren't planning anything yet.  There is so much uncertainty right now globally, and we're happy here, so we'll continue on in our small, slow life until then and putting away as much cash as we can to fund that when and if the time comes.

We also have more home upgrades to consider like hot water tanks and other boring things ;)  There are always expenses so the more we can plan ahead for them the less stress when the time comes!  So there you have it, this is what it looks like to Own It Debt Free!!  We made it!

1 comment:

  1. Congrats on being mortgage free! That's a huge accomplishment! I think a big trip will be well deserved :)


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