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Removed Some Debt

May 31st, 2016 at 10:18 am

I love this community. I know I am not a frequent poster or commenter, but I feel like I know some of you personally. And I LOVE how supportive everyone is. As for MN State Fair, we're close enough to visit semi-frequently, but far enough away that we need a hotel or stay at a friends for a long weekend. The Twin Cities Area is one of our favorite places.

Now for the important news: We decided to cancel the siding and windows. While the windows are on the "really do need rather soon" side, we can wait. Siding, while it would have been convenient to get it done (our house is old clap board and UGLY), it isn't necessary. It was more of excitement to be done and be done. We could sell the house faster if we had the new windows and siding, but we don't need to, so we can wait. Found it was hard to talk ourselves out of the convenience. But we did it!


THE NEW DEBT NUMBERS:
$96,972.85___Mortgage (29yrs left, $784.42/mo, 3.875%)
$24,569.93___Van Loan (39mo left, $641.89/mo, 0%)
$13,886.77___Home Project Loan (6.5yrs left, $220.89, 7.99%)
$_9,000.00___Student Loan (no payments while in school, $?, 6.8%)
-----------
$144,429.55


I feel better about the numbers. I might take the extra monthly payment I was going to put towards the siding and apply it to the Home Project Loan. I thought I could handle the extra payment, so why can't I use it this way? Maybe I'll go even farther and take every spare penny that my husband's raise brings in and apply it. Hmmmm.... I might just do that.a

3 Responses to “Removed Some Debt”

  1. CB in the City Says:

    Don't be too quick to side the house. It is my understanding that "old clapboard" is more appreciated in some areas -- of course, you'd have to do some research to see if it's true in your area.

  2. My English Castle Says:

    Agree with CB, but I guess it depends. In our older areas lots of folks have torn off siding and redone their clapboard. Maybe it's for the best? But hooray for you for the determination to wait.

  3. creditcardfree Says:

    I'm sure that was a hard decision, but sometimes spending more just isn't worth it...especially if moving and planning to sell. Go with basic fix ups and repairs to begin with and negotiate with a buyer from there.

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