I have been saving up my money for some time now. I am about 3 months away from having enough to pay off one of my loans. Unfortunately boulders are being thrown my way as usual. I apparently have to deal with the renewal of my flood insurance I found out yesterday. An unexpected 477 bill that apparently won't be covered completely by escrow. I am now faced with a somewhat crappy decision. I can either pay for this out of escrow by putting in the difference or pay the whole thing off in one shot.
I am leaning towards paying it off in one shot then paying my bill as I would regularly. That way I make more of a dent in my mortgage per month. Not fun, but doable.
Anyhoo... I will have one loan dead by April, then I take a break and start on the next loan. I will have an extra 144 each month to help me make it.
Once I kill my second loan I will work on my car loan.
Once I kill my car loan I move on to my home loan.
The home loan will have to be a longer set goal. In addition to paying monthly bill I will figure out a number that will help me bring it down. I will open a 401K when my two loans are paid off and plan out my car loan which is much smaller and a ways off.
I want to be debt free, that will make me happy.
No comments:
Post a Comment