# The “If” Mortgage Calculating Game

I don’t know what it is lately, but I like to play around with the calculator in order to get things into perspective when it comes to money.

Today, I like to play the “If” Mortgage Calculating Game. It goes something like this: if we don’t spend X% of our annual income we would be able to buy X% of our home. (I am totally ignoring the tax restrictions on our mortgage right now, that would make it more complicated. But we will calculate how much that will cost us….not today though!) Sounds fun, doesn’t it? 😉

If we don’t spend 10% of our annual income we could buy 2,57% of our home each year.
If we don’t spend 15% of our annual income we could buy 3,86% of our home each year.
If we don’t spend 20% of our annual income we could buy 5,14% of our home each year.
If we don’t spend 25% of our annual income we could buy 6,43% of our home each year.
If we don’t spend 30% of our annual income we could buy 7.71% of our home each year.
If we don’t spend 35% of our annual income we could buy 9% of our home each year. (This amount exceeds the amount we’re allowed to pay off each year, which is 10% of the original number, our maximum equals 33.33% of our annual income and that could buy us 8.57% of our home each year)

At this point in time we own 26.78% of our home. If we manage to throw 33.33% of our annual income into the mortgage we would be mortgage-free in less than 9 years! Also: while making these extra payments there are also our regular mortgage payments. So it would probably come down to less than 8 years from now or whatever.

It’s not about the exact number…it’s about the fact that freedom is within reach! This is purely motivational.

Right now, we’re aiming for a 25% non-spending rate in 2013. Maybe we could boost it to 30% in 2014? Or maybe even hit our ideal 33.33% number?!

Do you play these sort of calculating games?

Love,

Mrs EconoWiser

## 8 thoughts on “The “If” Mortgage Calculating Game”

1. Daantje

Ik fantaseer er wel eens over, maar daar blijft het ook bij 😉 Wij mogen momenteel al blij zijn als het lukt om eens per 3 maanden een extra aflossing van 300 euro te doen 🙂 Maar we lossen wel vast 539 euro per maand af (lineaire hypotheek), dus we gaan sowieso vooruit 🙂

2. Wim

All the time: 6 months balance 2013.
Including mortgage the average monthly outgoing is 200 Euro less than 2012 due decreasing mortgage debt. The other monthly expenses reduced some 170 Euro. Some 45% of our annual income is used to pay off our mortgage – last payment estimated in spring 2015. It is a tough road but a nice reward lays ahead and I doubt we will ever been able to ‘spend’ money again….

3. donebyforty

We definitely did these sort of calculations/games when paying down our mortgage. It’s great to have a timeline to aim for, since the numbers seemed overwhelming for us at times.

25% is no joke, so I wish you guys the best in attaining that goal!

1. econowiser Post author

Thanks! The numbers seemed overwhelming last year…but now we’re in this snowball-effect and it just keeps getting better and easier. It’s amazing!