i know exactly how a mortgage works, extra money goes towards the principle not the interest.....


and yes, that is what i have done in the last 5-6yrs, every tax return we put it towards our old house as a baloon payment. that is why when i sold my other house last year i made 60k+ from it, of course 20k of that was cause of the home value gone up, but the rest was from giving baloon payments every year, hence the idea of me planning to pay off this new home off the same way, 20yr loan but planning on it being payed off in 10yrs...

 

my dad is exactly like yours, he has never had a car note in his life! he buys everything cash- of course he never buys a brand new vehicle either, but he'll buy something that is 2-3yrs old in the 10-15k range and keeps them for 5yrs, and turns around and does the same. he bought his last house cash (9yrs ago 100k+).... my dad does not make very much money, he is a construction worker, but he manages his money real good.... i guess i get some of his thinking from him... he does want to get on my *** sometimes when he see's me overspending on some stuff...lol... but he is used to his own old ways..., i tell him now days its not easy to pay cash for stuff, you have to have payments if you want something nice...

 

lol ya they are alike haha when the new model tahoe's came out we went to look at the fully loadest one they had and he was like **** that (knowing he could spend that much if he wanted) and he said ah i'll wait 2 or 3 yrs from now and get one with low miles for about 20k to 25k.. lol.. he can turn a pile of **** into 10k how? i dont know... we use to have alot of cows and stuff which is a good tax write off so forth with the tractor and his truck also.... he is only a maintance guy and he has a honda he drives back and forth too work in 30 bucks to fill up and he dips and a log of that about 40 bucks for copenhagen gas fill up once a week dip depends use dips 2 cans a day 10 cans a log, other than that he dont spend his check like right now he has 5 un-cashed checked right now lol.... his theory is if you see something you want dont buy it and wait 3 days to think about it and if you gotta have it then go get it but majority of the time you will talk yourself out of it....