Income: Income maintains steady from our day jobs this month, but we get a nice bump due to getting our newest rental filled. We got a tenant in and they are paying $975/month. Being that the house is paid off, I consider about $800 of it profit. The $175/month is enough to cover taxes and insurance for the year. I will save the $800 for a couple months for the emergency fund.
Expenses: Again, spending for the month was high due to our rental renovation project. Our total for the month was almost $9,400.
Remaining Money: Still putting all remaining income toward our debt pay down. I have gotten rid of all the outstanding credit card debt. Now only my wife's care payment remains.
Debt: Another month of good progress reducing our outstanding debt down another $5,000 this month. As I mentioned above, all outstanding credit card debt has been eliminated so now only the car payment and our monthly expenses remain. I actually added to our cash savings this month.
Savings: Since I contributed to our savings for this month I will add this category. For the month we accumulated a modest $2,000 or so in cash savings. Our retirement investments are separate and are contributed every pay period.
Savings: Since I contributed to our savings for this month I will add this category. For the month we accumulated a modest $2,000 or so in cash savings. Our retirement investments are separate and are contributed every pay period.
Summary: Another successful month in the march toward eliminating our non mortgage debt. I will work hard to keep it this way. I think I may just keep the minimum payment schedule on the car as it is on a 1.49% loan and I can get more return on my money if I do other things with it. We will see.
Goals for the Coming Months: My next goal will be to relax and accumulate some cash for a while. It has been a stressful year working on 2 rentals so I need a break. I also need to save up and decide what I want to do next. I would like to move to our dream home in the next year or so. I think I will push to set us up to do that.
I hope you enjoyed this update.
Goals for the Coming Months: My next goal will be to relax and accumulate some cash for a while. It has been a stressful year working on 2 rentals so I need a break. I also need to save up and decide what I want to do next. I would like to move to our dream home in the next year or so. I think I will push to set us up to do that.
I hope you enjoyed this update.
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