Thursday, January 10, 2013

The New Mortgage Payoff Plan

First of all, don't you love the new logo?  My husband created it for me and is still tweaking a final version but I think it looks all sorts of professional.  I also went "public" yesterday by posting about my site on facebook.  No feedback yet but that's okay.  If this blog only ever appeals to me, I'm all right with that because it has been a great confidence builder and creative outlet.

On to the financial plan for our mortgage.  We had a set amount we were putting towards the mortgage prior to GJS's layoff.  While we were able to save quite a bit in our emergency savings during the layoff; we didn't put enough aside to keep on track with our previous mortgage payoff plan.

The new plan includes paying $6,511.36 extra towards the mortgage this month.  That means going into February we will have $50,000 left to pay on the mortgage.  We want that bad lad gone by December 2014.  Thus we are committing $2,350 per month to go to mortgage payments.  This is pretty close to half our income.  My new year zeal is in high gear with this goal.  GJS is on board and now it is 24 months between us and victory. 

Major concerns include another layoff for GJS, future child costs and any other unexpected expenses.  We are feeling pretty good about 2013 going smoothly as GJS has been told his temporary position should last at least a year and pregnancy is only 9 months and I have 3 months paid maternity leave set up to follow.  We will know our 2013 take home salaries by the end of the month.  I can't really budget until I know what our take home pay will be but for now we're guessing somewhere around $5000 a month.  If we can avoid a broken furnace, drastic car repairs and our horrible love of travel, we should be all set.


  1. I do love it. It looks awesome :)
    Fingers crossed for smooth sailing in 2013 and beyond!

  2. Only 50k?! That's awesome! Congrats :0)