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On track to being debt free by the end of 2013

January 27th, 2013 at 08:39 pm

Except for the mortgage!

My car will be paid off in the middle of February.

We have been paying extra every month on DH's car, but, in February, will start sending $500 a month. This is more than double the actual payment required per month.

With my car being paid off, we are pondering what to do with the extra money every month.

Some idea's

More to savings
Extra to mortgage
Increase contributions to DH's 401K and/or my SEP IRA through work.

More than likely we will do a combo of these.

We will however, need to be thinking ahead about our vacation to Kauai at the end of July. We will put the vacation expenses on our Wells Fargo card to earn points towards principal mortgage rewards, but will definately want to pay the card off as we are booking hotel/condo, air, and car rental in the next few months.

4 Responses to “On track to being debt free by the end of 2013”

  1. maranatha Says:

    That's AWESOME!!

  2. creditcardfree Says:

    Yes!! We will be too. Just back to the mortgage. We will just save, save, save and a little spending. Smile

  3. Jerry Says:

    More than doubling the payment on the car will lead that thing to get paid off in no time, nice work! You will have the insurance that the mortgage will get whittled down as well... it just takes a little bit longer. Congrats on the great progress!
    Jerry

  4. Petunia 100 Says:

    That's great, PNW mama! Congrats. Smile

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