Hit my goal 7 months early!!
YNAB win!! We’d been using YNAB for a couple of months when I realized - thanks to paying more attention to our finances overall - that we were paying $75/mo PMI. I contacted our lender re: our options and learned we could drop it in January ‘18 if we made about $10k in extra principal payments, saving us $2k in the long run. With our financial planner’s blessing I cleared out our wish farm (and shaved a little off the top of our EF to get a head start) and started adding every extra penny I could find to the PMI Payoff category with the goal of dropping PMI next May.
Today - 7 months ahead of schedule - I budgeted my paycheck and met my goal! Starting in a few months our mortgage will drop by $75/mo AND since we’ve paid down the principal so much we’re also sending about $30 more of each monthly payment to principal.
Time to celebrate by feeding our fun money categories a little (then back to the EF & buffer)...so thankful for the clarity YNAB has given us about what the most important jobs are for our dollars!