I think it would be grand

to have a $20,000 fully funded emergency fund. As me and my fiance prepare for our March budget meeting I am going to see if there is a way to work this in the plan for this year. That would make me feel so much more comfortable with life.

I also think it would be grand to have no student loan debt. I have 3 years to move this monkey from my back. We won't start trying to have children until we have no debt.

Finally, I think it would be grand to prepay my mortgage. If we could pay an extra $1200 to our mortgage every month it would be paid off in 9 years. Imagine being 35 and living in a paid off house.

Where they do that at??? LOL


until next time, think prosperous thoughts

YBP

Mortgage expenses are only a sliver of my budget

My part of the mortgage is only $300.00. Every two weeks when I get paid I automatically have $160.00 transferred to our mortgage joint account, my love puts his 300 in and we put part of the tenants rent money in, its simple, and I don't have to worry about the mortgage being paid. On the 16th of the month the mortgage company takes the whole mortgage payment out. Simple and Easy!!! The other household bills that I am responsible for are the Gas Bill ( set up a monthly budget plan of $160.00) and the water and sewer bill which averages $55.00 a month.

My frigging car note and insurance plus gas is just about the same amount per month as my mortgage and other home expenses. Once I pay this joker off I probably will never take out another car loan unless I'm making $100,000 a year, which hopefully will be in the next five years. If my car dies, I will go to an auction and buy myself another one for cash!

until next time, think prosperous thoughts

YBP

I'm not upside down on my mortgage

One of my favorite bloggers Budgets are Sexy just found out that he is upside down on his mortgage. This prompted me to see if I was also upside down on my mortgage. I doubted that I would have any equity but I just didn't want to be upside down.

So how did I check how much my house was worth? I too signed up for Zillow.com after seeing that J at Budgets are Sexy did the same and found out the value of his house.

After verifying that I was the owner I found out the Zestimate for my home was $ $177,500. Right now the current principal balance of my home (found on the latest mortgage statement) is $177, 348.

I guess those extra principal payments helped a little bit (LOL).

No equity but thankfully not upside down!


until next time, think prosperous thoughts

YBP

I have a tenant!!!!!!!!!!! YES!!!!!!!!!!!!!!!!!!

well actually two. Two college student in their junior year will be renting the apartment that is below my house. They seem like really great girls. I checked out their references and their employers speak very highly of them. Plus both girl's parents will be helping them pay their rent and are very secure in their jobs. This is great because now I don't have to pay a $1304.00 mortgage on my own.

By next Wednesday I will have 2450 in my checking account which will be their first, last and security. I will be taking 700.00 of that and using it to pay the mortgage. The rest will stay in an ing savings sub account named after the property. Each month I will put $100.00 into the account for vacancy/repairs and put $700.00 to the mortgage (their rent is $800.00). That leaves a mortgage payment of $604. DH and I will split that remaining part of the mortgage in half. My part is $302.00. I am going to pay down my mortgage so each month I will add $198.00 extra to the principal making my part an even $500.00.

Not bad right?

They will be signing a year lease but I am hoping that they stay until they graduate. By then I will have been debt free for about six months and will have about $20-25,000 in my emergency fund ( with the proper planning).

I feel blessed and highly favored!!!

until next time, think prosperous thoughts

YBP