Saturday, February 2, 2008

How The Money We Saved From Our Italian Holiday Helped Pay Down Our Mortgage Principal

In May of 2000, we traveled to Italy for a week. We had an independent tour of Vatican City, Rome, Venice, an evening trip to Pisa and a day trip to Turin.

After arriving home, we put our lira away as souvenirs or to use on a future trip. By the end of February 2002, lira was no longer legal tender. During 2004 or 2005, I went to the bank to convert lira to U.S. dollars. I used the money to make a principal payment to our mortgage company.

Saving your money to put towards an emergency fund or paying down your debt is a good way to use the extra funds from a vacation, from coupon savings or just some extra money burning a hole in your pocket.

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