I love finances. I love reading about other people's finances as well. I found a couple of links that I enjoyed reading and I was thinking others may as well. So here goes:
MillionDollarJourney writes about paying off his mortgage in 3 years (I'm so jealous!)
Our mortgage is $10,000 less than one year's salary for the both of us. When calculated, I show that we'd have to pay $1600/month to pay off our current mortgage in 3 years. That's not going to happen. I'd be happy with paying it off in 5-7 years. If we were to pay just $150/month extra on the mortgage, it'd be paid off in 10 years (we got a 15 year mortgage a few months ago at 3.85% interest.)
Donna Freedman at Surviving and Thriving asked if you could survive off of one income. I know many readers already do, but we dont. Right now, I feel we COULD survive off of one income, but we'd have to cut back even more than we already have and it'd be tight. Once we get these last two debts paid off and have a nice emergency fund in place, I think we'd be golden, but until then, we will both work.
Do you have any links you can recommend? I'd love to read them! :-)
i love reading about people's finances too. i love reading how other people are frugal.
ReplyDeleteWe are living off on icome, so i can stay home and watch our 3 boys. its very tight some days tho!
Thanks for the link! Glad you're thinking about an EF before you even consider living on one income.
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