I know that Dave R. says everything but the house...

**PrairieRose** · 02-13-2006, 10:29 AM

but have you considered that you CAN actually pay your house off in your debt snowball plan? We did it and I have to say that not having a house payment is a blessing indeed. We still have to save for homeowners' insurance and property taxes but it's less than 1/2 of what our house payment was.

Don't quit with the snowball when you get all but the house paid off. That final payment is such fun to celebrate!

**juliek** · 02-13-2006, 04:47 PM

I'm hoping that once we're done snowballing the debt and the FFEF, and putting 15% into IRA's, we will still have a nice chunk to snowball the mortgage. DH says he would like to have EVERYTHING paid off in 5 years.

We'll see. You know how things have a way of changing. But it's exciting to think about.

**pammy** · 02-13-2006, 08:14 PM

We're kinda thinking the same thing. When we get to baby step 3 we plan on getting about 4.5 months of expenses saved within 3-4 months. Going to max out our ROTH'S each, which will total 15% (with the 3% dh's already contributing). Dd will be in college and we can pay a semester's worth of tuition in less than one month's snowball. The rest goes to the house. Including a good sized yearly bonus. I figure it can all be done within 5 years.

But I've often wondered about just tacking the house on in baby step 2. Then I get to thinking it will take about 2 1/2 more years being in step 2 without that big EF. A bit longer helping dd with tuition.

Thought provoking. How long did it take you to pay off your house after the others were paid??

**PrairieRose** · 02-13-2006, 09:24 PM

It took us about 9 months I think Pammyboat. Not too long at all and I will say of all of our debts that we paid off that one felt the best.

**frugalfarmwife** · 03-02-2006, 01:27 PM

I'm actually working on a plan for it right now, the only CC we have is at 0% interest for the next year so paying minimum with the money for it in a high yield savings acct.

The only thing is that we just refi'd and right now that mortgage just looks so big to me, sigh, wish I could split it up into a few different loans just to see them disappear more quickly.

We have a 30 year mortgage and I hope to be able to have it paid off in 15 or less, such a long time tho

kj