Mortgage Chain

Make a Mortgage Chain

By Erin Huffstetler | 02/03/2016 | 1 Comment
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We’ve been making a lot of changes to our office lately, and I’ll be talking more about that soon, but I wanted to show you a small change that we made yesterday.

That paper chain that you now see hanging over our office window is our mortgage chain.

Paper Chain

There’s a link for each month left on our mortgage. We have four and a half years until our mortgage will be paid off, so there are 54 links in our chain.

I’m a visual person, so I like to create visual reminders of our family goals, and a chain is the perfect reminder of our goal to be mortgage-free. Whenever we see it, we’ll be reminded of how badly we want to break the mortgage chain.

It should help us keep our priorities straight, and each month when we make a payment, we’ll get to remove a link, and watch the chain get shorter. I’m betting it’ll inspire us to make extra payments along the way.

Our kids know how important we think it is to pay off debts quickly. We’ve talked about the peace of mind that that brings you, and the things that we’ll be able to do once we no longer have that big monthly payment over our heads. So, I like that they’ll get to watch us make progress towards that goal. We’ve always been very open about finances with our kids, and this is just one more opportunity for us to show them how you make big things happen.

Want to pay off your mortgage early? Pull out some paper, and make your own mortgage chain.

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Comments

  1. Ha! When I was in kindergarten, our teacher taught us to make these, only then it was to mark the days until a holiday. Seeing it used this way makes it clear its possibilities are endless.:) It can be especially useful with kids who are waiting for a special day to arrive or an event to occur. It’s very satisfying/comforting to remove a link each day – gives a tangible sense of progress.

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