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Thursday, November 19, 2015

November Update

So it was pointed out to me that I was long overdue for update. It is a nice thing though, when updates are few and far between not because of stressful setbacks... but because things are good, and there's just not as much to update about!

As of this summer, we are officially OUT of credit card debt. Zero credit card debt. (as she pauses and waits for the cheers and adulation to die down) We have one card - just one - that we continue to use for groceries, gas, and daily expenses, and faithfully pay it completely off every paycheck. It makes life (and keeping up with the checkbook) so much easier to use a card for everything, and, bonus, we rack up Amazon points like crazy! Having no standing credit card debt is the. best. feeling. ever.  

Current debt includes:

My car - $19,000 Which sounds like a lot, but it's worth much more than that, so that's a plus. We pay more than the minimum every month. AND, barring any unforeseen circumstances like last time (RIP Sparkle), I fully intend to keep driving it long after it is paid off. It's a Toyota, so it'll run for 17 trillion miles.  I love this car.

Our primary mortgage - $156,000 Since we were able to refinance, we are no longer upside down on our mortgage, and will be in a good position to sell (if that's what we choose to do) in a couple of a years.

Our secondary mortgage - $31,000.  This is currently our targeted debt.  We increased our monthly payments recently so that it will be completely paid off before a balloon payment is due.

And... that's it!  My one concern for next year, money-wise, is that we have an expensive roof repair coming up (is there any other kind?) that we can't put off much longer.   But it's one of those inevitable joys of home ownership that just come, no matter how hard you try to will them away.  So I know that there's zero point in stressing about it.

Otherwise, we're feeling good about our financial plans in general, have saved up for Christmas, and are looking forward and ahead to the new year.

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