Current Goal: Automate Savings and Mortgage Paydown
1) Extra $1,100/mo. to mortgage
2) $1,000/mo. to short-term savings
3) $400/mo. to investing
Previous Goal: Eliminate Mortgage on Rental Property
Interest Rate is 5.125%!
January 1, 2019: $59,592
August 11, 2020: PAID!
Tuesday, January 10
Debt be Damned
The next major expenditure will be in June when I pay property insurance. It should be under $6,000, which is about what I bring in from rental income in one month. I used to dread paying my car insurance but no more. In February I will pay $178 for 6 months of liability coverage, and that's with a $100K/$300K policy, much more than the mandatory minimum in my state. The lower rates are a combination of having just one car without comprehensive coverage, getting older, and being claim-free over the last almost 20 years I've been driving. I also think some of my traffic tickets are finally falling off my record.
Operation Pay Down Debt, here I am. Let's do this. I'll have extra incentive to live miserly as I see those balances fade away. For whatever reason, having all this debt really stresses me out, even though almost all the debt is the "good" kind (used to produce more income). I can't wait to see those balances go to a big fat ZERO.