Below are a few ways that our life has changed and will potentially since becoming mortgage free.
In an era where many families require two working parents to make ends meet, being mortgage free has provided us with the possibility of moving to a single income family.
In hindsight, we should have saved up more money before moving forward with the kitchen remodel. We ended up nearly doubling our original budget and as a result burned through the majority of our emergency fund.
Right now our family of four is living on a little more than $3,000 per month. Our plan is to have six months of emergency savings, and therefore an emergency fund of $20,000.
Something we take a lot of pride in is giving away 10 percent of our take home pay. We are so grateful to be in our financial situation and the least we can do is give back even if that slows our path to financial independence.
Since becoming mortgage free we have taken trips to Orlando, Fort Lauderdale, Branson, Dallas, and several trips to the Lake of the Ozarks.