House update :-)

iVillage Member
Registered: 08-23-2005
House update :-)
8
Tue, 04-18-2006 - 9:39pm

Hey everyone! I've been MIA the last couple of weeks because we found a house so we have been preparing for the house.

lvhunnie2005

iVillage Member
Registered: 01-06-2005
Wed, 04-19-2006 - 3:05am

YEAH!


Do you have a debt that has a low balance on it?

 

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iVillage Member
Registered: 08-23-2005
Wed, 04-19-2006 - 11:47am

We have 2 credit cards left to pay with balances of about $4000 each.

lvhunnie2005

iVillage Member
Registered: 01-06-2005
Wed, 04-19-2006 - 2:15pm

That sounds like a really good plan.

 

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Avatar for 2locachicas
iVillage Member
Registered: 05-14-2003
Wed, 04-19-2006 - 2:42pm

I would say pay off the card and then start making your payments to your savings to replenish your emergency fund. You will be saving more in interest that way. I ran the numbers-if you pay on the cc until december you will pay 250 in interest. you will earn WAY less than that in your savings account. So I would suggest do it in reverse..pay off the card and put hubbys ot into savings until it is back to your comfortable level.

Congrats on the house!! the coming months are going to be so much fun!! I love moving

iVillage Member
Registered: 01-06-2005
Wed, 04-19-2006 - 5:00pm
I second that idea!

 

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Avatar for skthurber
iVillage Member
Registered: 03-27-2003
Wed, 04-19-2006 - 9:59pm

Congrats! See, that first house wasn't meant to be. The first house we fell in love with got sold before we could put in our offer (it took a few days to get both sets of parents out to see it). The house we did buy and still live in is just as nice, was even better in some ways (2 car vs. 1 car garage), and was less expensive to boot! It all seems to be working out for the best for you. Good luck in the closing!

-Sarah

Sarah


Mom to Gina & Tony


 


iVillage Member
Registered: 08-23-2005
Wed, 04-19-2006 - 10:17pm

Normally I would agree to pay off the cards...however, now that we have a mortgage, we need to be super careful about having money in savings.

lvhunnie2005

Avatar for 2locachicas
iVillage Member
Registered: 05-14-2003
Wed, 04-19-2006 - 10:21pm

Hey if you & hubby are on the same page I stay stick with it...I would accept agreement on money matters and count it as a victory sometimes at my house;0) I agree if you will go into panic mode it is better to stay status quo...a little bit extra interest is worth it to save panice attacks!

Congrats on the house...you are moving in right in time to plant your heart out!