November 3, 2011

It’s been forever…

Life gets in the way. But I was reminded by some asshole today that my blog sucks, so even if no one is interested, I’m going to post something just to piss it off. HA.

So – my home equity loan – easy to refinance last November or so – then I noticed rates went down so asked if we could get the new rate? YES! So it’s at 3.99 and that cost us NOTHING.

My 5/1, which arguably was a huge mistake, now has an interest rate of 3.00%. Every year that it has adjusted, it’s gone down. Crazy. It’s certainly working for us right now. For these rates and many other reasons, I love my credit union.  Find one for yourself! http://www.findacreditunion.com/

What else… last November we were at $352,211.05. Now we’re at $319,589.11. That’s $32,621.94 and I guess that’ll have to be good enough. Our car is almost paid off, so that’ll help quite a bit. For now I plan to throw that payment at debt, then I’ll start saving for the next car.

There really is something to using those debt snowball spreadsheets – even if you’re doing an avalanche or whatever. Just seeing that it’s possible for ALL the numbers to go to zero is really empowering.

At our current payment rate, it looks like everything but the mortgage could be completely paid off by March 2015. That’s not so far away. And maybe it could go faster if we work out our snowflakes.

Maybe I’ll do another update soon to see where we are on reducing specific debts (credit cards, car loan, mortgage, student loan).


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