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$150/month "raise" in June

January 8th, 2008 at 10:55 pm

The last payment on my daughter's braces will be in May. That means that starting in June, we'll have an extra $150 month available. I'm trying to decide if I should put all of it towards savings or if I'll "splurge" a little and just put $100/month to savings and leave the other $50 out for whatever comes along. I'm kind of flip-flopping back and forth on that decision. Obviously, we aren't missing the money now, so putting in all in savings makes perfect sense. I'm working on getting our home equity loan paid off by the end of 2009, so I'll probably put it toward that, which will then free up another $218/month. At that point, I will probably start making some extra payments on the mortgage. I'd like to get that paid off by age 60, which means I need to shave about 3 years off the current repayment schedule.

3 Responses to “$150/month "raise" in June”

  1. miclason Says:
    1199843771

    Don't talk to me about braces...I'm sure Ale will need them! (used to suck on her middle and ring fingers until she was about 5!- now she only does it at night and that only if she's super stressed!-like when she was being bullied at school)...Her teeth don't look too out of line yet, but, I don't know what will happe once she gets all her permanent ones!

  2. merch Says:
    1199849161

    You could put 50 towards something personal you want to do and save the rest. I always wanted to take flying lessons.

  3. Amber Says:
    1199853856

    I say save it and use it for all those wonderful trips you guys take

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