Tuesday, April 19, 2011

One Or The Other

This is my newest dog. I posted her picture before but now she is more relaxed. I've had her for about 2 weeks and I have resisted the urge to go get more. I want to get some of my big dogs adopted before I get new ones. Right now at 7 dogs I have the right balance of dogs for my small space.

I completely forgot about paying the dentist until I just reread yesterday's post. It is one of those dentists who has two offices so maybe they were at the other office today. Hey, if they forget about me then it was free, right? I suppose they would probably mail me a bill the old fashioned way.

I was looking at my bank account today and wondering if I took all the money out of savings and checking, would it be enough to pay off the mortgage? The answer was no. After I get my paycheck next week I could have $4,000 for the mortgage. Only problem is that the mortgage is $4,500. The money in my bank account is not extra money. It is money for insurance, registration, property tax on the property that I live on, stuff like that that accumulates every month until it is due. If I stole it for the mortgage I would have to pay myself back. That is too risky since I couldn't get rid of the whole mortgage yet.

I was going to put some money towards the Home Depot card and some towards the mortgage but now I think I will concentrate on the mortgage. It is more fun to get it paid off. The credit card is no interest until August anyway. And if I did lose my job it would be much better to have the mortgage gone so that I wouldn't have to try to come up with $800 a month to pay it. For the credit card I would only have to pay $50 or so.

So, I won't be able to pay off the mortgage this month but perhaps, if no other emergencies come up, I can borrow from my other reserves and make the mortgage GO AWAY next month! That would be great to do it in May since that is my birthday month. I'm going to think about it some more but it sure is starting to sound good. Of course if the house gets rented I can pay off the credit card too. I mean, I am still hopeful that the house gets rented very very soon so I can get back on track and not have to do any creative shuffling to pay the bills.


Dave said...

Daizy, you should not pay off the mortgage until you at the very least get your other place rented out. You have had your share of unexpected (and expected) expenses lately and to completely drain your reserves without that second income stream would be, IMHO, unwise.

Even though your credit card has no interest until August, if something should happen and you can't pay it off by then, you would end up having to pay the interest.

Once you get the place rented, you will better options and more flexibility.

Miss France said...

So exciting to be this close to paying off the mortgage! Just a little longer. Congratulations!

Lizzie @ her homeworld said...

Excellent, big celebration next month them.

Daizy said...

Hi Dave, but paying off my mortgage would free up $800 more a month for the credit card. Plus $636 extra that usually goes to the mortgage. 6 weeks more and that credit card would be gone. I am trying to trick myself into getting motivated again since being unmotivated for the beginning of the year cost me $1400 in over budget spending. Ouch. That was the credit card money. I can't let that happen again. I think this month is better.

Daizy said...

Miss France, yes, it is exciting. seems so close and yet I can't seem to get rid of it as fast as I want. I'm just impatient I guess.

Daizy said...

Lizzie, hopefully, if I can start staying within my budget instead of going on shopping sprees like Jan, Feb, and Mar!