We are refinancing our mortgage. The rates are really low right now. I am excited about our new lower rate, because our house payment will go down by $200 a month. TWO HUNDRED DOLLARS! That is $2,400 a year. That is a lot of money. But I am also worried that we are jumping the gun. What if rates go even lower next month?
Until our closing is final, we are poor. We seem to have overextended ourselves. We just paid off our new furnace in May. The bill for our new entry door is due in July. We just had our pretty new fence installed last week and our new swing set is being delivered Wednesday. Yikes! We literally have no money to spare. NONE.
On a positive note, we will get to skip one mortgage payment after the closing. That will help ease the financial strain, but jeez, it really sucks having no money in the bank. I REALLY like making frivolous trips to Target (maybe a little too much). I guess this is a good thing. I need to start exercising more self control with money, and this is the perfect opportunity to start being more frugal.
10 comments:
Was the process difficult to refinance? Will your mortgage be extended? That might be something we want to consider, so I have lots of questions. :)
Glad to hear things will get a bit easier. I totally understand about those trips to Target. They just have so much stuff that I want! But damn, do they add up.
I feel your pain! We're trying to refinance the hubby's car and I'm praying we can old things together until Christmas when we can move to an apartment or a cheaper house. Sigh. We've been living on 1/3 of our normal income since October when the hubby's largest client laid him off.
Remember to read the fine print on the refinance and to question everything.
We refinanced in May and loved not having a June payment too! Love saving money on the mortgage!!
We are also in the process of refinancing right now. I think we will still be broke even after we refinance, but I am pretty used to being poor by now! In Portland it's hip to be poor anyway- we fit right in.
Money. I think I hate it.
I'm right there with ya. We are working on our mortgage too... trying to get a smaller payment. We've also decided to nix our cable, netflix and our local newspaper in order to save some $$. Boy am I going to miss tv... we better be able to get some local channels or I'm going to be one unhappy mommy!
$200 a month? WOW! I would kill for that!
That is great to hear!
That sounds wonderful. We have been trying to be more frugal as well... our savings has about $2 in it. Fuck, right? Yeah. Sigh.
We are trying the cash envelopes method next month. Here's hoping it helps! If we are going to buy a house next year, we need to save some serious dough.
Post a Comment