In 2011, at 21 I moved out of the family home and into a very reasonably priced unit in Sydney, Australia that I purchased with a deposit and a $254,000 mortgage.
At the time, I checked, rechecked and triple checked my numbers to make sure I could afford the repayments, utilities and food. I had estimates of what my bills would be but this wasn’t good enough. I needed the exact bill figures down to the cent to be completely comfortable.
Once I was absolutely certain of my financial position there was only one thought on my mind.
“I am going to repay this loan as fast as I can.”
In 2017, at age 27 I paid out the mortgage in full. I am now 100% debt free.
I accomplished this by earning a regular income and contributing the majority of my income to paying off the mortgage.
It wasn’t easy but it also wasn’t hard.
I made sacrifices and questioned myself along the way. I made mistakes and I have regrets.
One thing I definitely don’t regret is owning my home outright. It was definitely worth it.
My next goal is the option of early retirement. I am now busy increasing my net worth to the point where the income from my investments will fund my lifestyle, forever.
I decided to make Nitty Gritty Finance because I want to help people improve their financial literacy, knowledge and attitude towards money.
Of course, I can’t ask you to listen to what I have to say without putting my money records where my mouth is.
So I, the Nitty Gritty Financier will strive to always give you exactly what you want.