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Almost caught up

May 21st, 2014 at 06:51 pm

3,500 remaining to my mother, then create a real emergency fund, and then what?!

It's exciting to think that soon the 1,500 extra a month (after all bills and expenses are paid) might actually be going to something else besides debt.

I'm thinking mortgage or rental property or maybe up the 529 contributions?? The sky is the limit! Smile

Posted in Uncategorized | 4 Comments »

4 Responses to “Almost caught up”

  1. creditcardfree Says:
    May 21st, 2014 at 07:03 pm 1400699015
    1400699015

    It is fun to think about, no need to rush in your decision. You might just set that money aside for several months, watch it build up and see what seems right.

  2. SecretarySaving Says:
    May 21st, 2014 at 07:09 pm 1400699387
    1400699387

    Have you thought about selling the rental to wipe out that debt and put any equity to pay down your mortgage or fund the 529's? You'll have mom paid off in no time!

  3. guppy Says:
    May 21st, 2014 at 07:20 pm 1400700026
    1400700026

    Unfortunately we're underwater on the rental property so we might start throwing extra money there. It's an odd situation though since we own half of the property with my parents. If we ever sold they've said they would cover our losses which is generous but I think I might feel guilty for letting them absorb losses when we made the decisions to buy half of it from them fully knowing the ramifications of what could happen in the market (and ultimately did end up happening with the recession).

  4. Looking Forward Says:
    May 22nd, 2014 at 04:03 am 1400731390
    1400731390

    Smile $1500/mo will be VERY helpful!

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