Guest Post: Debt Free Story

Today, I have a guest post featured on The Frugal Farmer.  Here’s a snippet, but please click on over to read my Debt Free Story.


How much debt did you start out with and what kind of debt was it?

I was fortunate that the only debt that I carried was from my mortgage.  The mortgage debt was $400,000 on a 15-year loan.  In order to afford the mortgage, I had to get three other roommates.  Even then, it still took over half of my paycheck in order to pay the mortgage bill each month.


What was the “eureka” moment when you knew things had to change?

Initially, I was super excited to own a home.  I was 23 and thought I knew everything.  In hindsight, I was really fortunate to buy when I did.  It was just before the housing market peaked.  So even when the housing market cratered, the house was never underwater.  I can’t say that was the case with everyone else in my neighborhood as some took bloodbaths.


After about a year, the new home smell wore off.  Watching half my paycheck go out the door became a miserable feeling.  It was then when I became obsessed with paying off my mortgage.  Every bonus that I got and every extra dollar that I had laying around in my bank account started going right towards the mortgage.  


I built excel amortization tables to see how adding the extra money towards the mortgage principle would impact the final mortgage due date.  There was something so satisfying watching the date creep up each month when I applied new principle.  I was running at this new goal with ultimate determination.


Click over to The Frugal Farmer to finish reading my guest post!

Mustard Seed Money

Welcome to the website. A mustard seed is a very small seed but astonishingly grows very large over time. My hope is that through your financial journey that your small investment in time, money and faith will grow beyond anything that you could ever imagine.


  1. Congratulations MSM on being debt free, I mean truly debt free without a mortgage. Not carrying any credit card debt or student loans is one thing, by actually paying off your mortgage is quite something special. I’d like to hit this mark in about 15 years as I just financed a 30 year loan with 20% down.
    CoupleofCents recently posted…2016 Financial Review: +$61,330 Net WorthMy Profile

    • Sounds like you have a plan in place CoupleofCents!!! We also refinanced our mortgage once about five years in to take advantage of the super low interest rates. Well worth it 🙂

  2. Although the mortgage on our current house was over $400k, I couldn’t imagine having a mortgage like that at age 23. Awesome job eliminating that mortgage so quickly. As you suggested, I think you may have gotten in trouble getting bit by the travel bug while you still had a mortgage.

    I also agree on the freedom it gives you at work. Knowing that you can take some chances and do the work that interests you is a great feeling.
    Mr. Need2Save recently posted…The Evolution of the Emergency Fund // From Kiddie Pool to Olympic SwimmerMy Profile

    • Thanks for stopping by and sharing Mr. Need2Save!!! I am definitely glad I didn’t get bit by the travel bug in my 20s. I would have never paid down my house 🙂 Now that’s it’s paid off I don’t feel guilty at all traveling 🙂

  3. Paying off mortgage debt faster VS investing excess cash is something I am always struggling with. I’m thinking about deploying some type of percentage formula, maybe like 75/25 in investing VS paying off debt. Do you think for homeowners whom are younger it is better to invest and pay off debt slowly especially if it is a low interest rate debt?
    SMM recently posted…Spending on the Simple JoysMy Profile

    • Having looked at the analysis for me, the difference as only 0.1% between paying off the mortgage and investing. I realize that I was also paying off my mortgage during the lost decade in the stock market. So who knows what the future holds. I know for me that I hated debt and was okay forgoing the returns that the stock market would return. So I hate to do this to you but what would keep you up at night? Missing out on huge returns or having debt?

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