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Paying Ourselves Back

July 16th, 2017 at 12:04 am

With D's new job, we are getting very close to paying the bank back (mortgage is right at $5k!!) and paying ourselves back (sometimes WE are the bank).

​Paying the Bank Back...
Mortgage is at $5058.07. I had a weird moment where I couldn't understand why the payoff amount on the website was less than what we owe, and then I realized that it's the escrow they've collected. They have about $600 in escrow and when we make our August payment it'll be $900. But we will need to save $300 each month from August through November for the next property tax payment.

Paying ourselves back:
Our estimated tax payment is $2119 every quarter. We are a little behind and still owe ourselves $2033. Next payment is due in September.

Paying ourselves back:
We need to repay our emergency savings $1280.

IRAs:
We will need an extra $2400 this year to fully fund our Roth IRAs. I think we'll be able to do this with D's new job.

The future:
We need a dog fence, but I haven't gotten prices yet.

This is all very intimidating, but we just have to keep plugging away. And now I am off to make a frugal dinner!

4 Responses to “Paying Ourselves Back”

  1. VS_ozgirl Says:

    Congratulations on the low mortgage balance, you have made so much progress!

  2. CB in the City Says:

    Congratulations indeed! I am very envious!

  3. My English Castle Says:

    Wow, you guys have really decimated that mortgage. Congrats!

  4. rob62521 Says:

    Wow...what great progress!

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