Windfall -> Extra Mortgage Payment!

Yesterday my accountant told me about the fact that we got an €8.000 tax break! What a windfall! Obviously, this is going straight into our interest-only mortgage.

My accountant is really enthusiastic about the fact that we’re paying our mortgage off at such a pace. He also told me that most other accountants would advise us against doing that because of the weird tax system in The Netherlands. Therefore, I am really happy with our guy.

Back to the money…WHAAAAAAAAAAAAAA!!! I’m over the moon with this! Now we are so going to be able to pay off the interest-only part of the mortgage by the end of this year.

I just love it when a plan comes together.

What would you do with a windfall like this one?

Love,

Mrs EconoWiser

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4 thoughts on “Windfall -> Extra Mortgage Payment!

  1. Valhalla

    Woooow gefeliciteerd! Is dat een reden om je te feliciteren? Ik vind van wel. Wat een geweldig bedrag om terug te krijgen. Ben erg blij voor je!

    Reply
  2. spaarolifantje

    Congrats, well done.

    I know that in the Netherlands one often can not pay exactly enough taxes during the year, so that the bill at tax season is exactly 0 euros. But… Maybe you could fill in a form to pay less in taxes during the year, for example because your mortgage interest can be deducted? (Use the “voorlopige aanslag” form)? Your accountant should know about that.

    Then you get to keep more money every month. To make sure that you can pay the tax bill if the amount is a bit higher than expected, you could put some of that money in a savings account during the year and then use that if necessary to pay the “extra” taxes.

    Reply
    1. econowiser Post author

      Thanks for your thoughts. I like it this way, because then we can’t spend it and when we receive a huge amount we’re wise enough to throw it in our mortgage.

      Reply

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