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April Savings

April 29th, 2016 at 01:21 pm

Received $36 bank interest for the month of April.

Snowflakes to Investments:

Redeemed $25 credit card rewards (cash back) from our gas/grocery card.

Redeemed $42 cash back on Citi card.

Redeemed $5 cash back on Visa/dining card.

Other snowflakes to investments:
--$7 Savings from Target Red Card

Savings (From my paycheck):

+$ 200 to investments
+$ 300 to cash
+$ 900 to IRAs

+$3,000 OT to savings (will fund my mortgage goal)

Savings (From dh's paycheck):
+$ 840 to Savings/Investments

Short-Term Savings (for non-monthly expenses within the year):

+$1,300 to cash
- 500 life insurance

{That's $6,155 total saved this month!}

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Grandma slipped me $300 for doing her taxes. I'd say we spent about $200 of that for Robot Wars and related expenses. So I just left this money in the checking account to cover expenses. Will consider all that a treat from her.

Mortgage goal is funded, thanks to OT. (I really didn't work a lot of OT this year, so was glad I made just enough for our annual mortgage goal). But as usual, I am just setting it aside for now and seeing how everything else shakes out. I will apply the $3,000 to the mortgage some time between now and 12/31.

I mentioned in my last post that we are going to spend down some of our liquidity. It's a long story. But I wanted to be clear that it's not a "spend money to spend money" kind of thing. The next step for us is hitting our mortgage hard (our only debt). The short version is that it seems to be more sensible to take care of home improvements before we start throwing large sums at the mortgage. If I have $8k to throw at the mortgage, maybe I'd rather complete some long put off home improvements with that money. On the flip side, we want to have *all* of our ducks in a row before we start throwing bigger dollars at the mortgage. I believe this is our last duck. (& if we had no ducks to tend to, then we'd be throwing some of this money at the mortgage. So I guess either way we will be spending it down).

5 Responses to “April Savings”

  1. tripods68 Says:

    I know what you mean, like you we just have the mortgage as well, 15-year paying extra just few hundred a month for now. We have some home renovations expenses we like done by next summer before we start throwing more on mortgages.

    Great job!

  2. Frugalista Says:

    Your savings this month are amazing!!!!! Great work.

  3. FrugalTexan75 Says:

    I think that makes a lot of sense - take care of needed home improvements first, then throw down the mortgage! Smile Our plan is to take care of the medical/student loan debt, plump up a number of savings categories, have a good bit set aside for home setup/maintenance, have the property taxes set aside and home insurance for 2017, and then work on the mortgage. (Although I do plan on paying a *little* bit extra - our payment is $526 - I plan on rounding that up to $550. Not a lot, but a bit more than nothing!) Smile

  4. LivingAlmostLarge Says:

    Are these repairs that you've put off? Or things that should be maintained? I always say better to do prevention like your health on a home. Otherwise uggh. Like my family they tend to do nothing and then whine about the roof leaking. I'm like oh really? 30 years and you didn't save to replace the roof? They don't save 1% a year for home maintenance and then what happened.

  5. MonkeyMama Says:

    LAL - I am only talking about cosmetic things. So is why we haven't been in a hurry.

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