Continuing to pay down debt

Long process, but it's happening.  Eight months away from being car-debt free, and then I'll attack the other small obligations.  If I can ever get those done, I can start throwing a bit more money at the mortgage.  Will be cool to see that debt get down to 5 figures.

New investments have been at a standstill recently.  Mutual funds and the kids' college savings accounts still are taking on money, but I haven't been dabbling in individual stocks.  Maybe once we get our spending under control, I can look to invest in a few companies.

I actually have been investing,  but in coins!  Silver and individual coins and coin sets have been fun to learn about and collect, and I doubt they will go down in value as they get older.  I am a couple coins away from a full Silver Eagle set, and have proof sets as far back as the late '50s.  I have been acquiring dozens of other silver coins for nothing more than face value, and also trying to pick up cheap junk silver on the secondary market (ebay, Craigslist).  I do go to some coin shops and shows, spending a bit more to complete some coin folder sets.

The only thing I regret about this hobby is that I wish I picked it up sooner.  I wonder how many wheat cents, buffalo nickels, and silver coinage has literally slipped through my fingers since I was young!  Better late than never I guess.

I just passed the big 4-0, don't feel much different.  Bought a used car last year, '11 Ford Escape, a bit too many miles but was a good price.  I'm paying it down at $250/mo right now, which makes the last payment in August 2016.  I'm likely to put a little money into it between now and then, but hopefully I can make it last another couple years after that point.

Putting an additional $75/mo towards mortgage payments and just finished year 2 of 15 year refinance.  With additional money being paid throughout, maybe a year or two can be shaved off the end, which still puts me in line to be mortgage-free by 52.  I would hope as our combined income increases steadily that I can pay down the principle more aggressively.  To be mortgage-free by the time the kids begin their college (me at age 49 or 50) would be a great goal.

Investments are going steady, have made a couple adjustments.  Wife is putting more towards her Roth but not maxing out yet, but neither am I.  Max contributions are $5500 for each of us (roughly $450 per month) and between the two of us, we are about two-thirds of the way there each year, though we have both increased over the past year.  I've also continued purchasing stocks that offer DRIPS (dividend reinvestment plans).  There are a number of no-fee ones to choose from and I typically try to get 25 shares of a stock and then move on to the next investment.

Older, a bit wiser, still want more money

Just refinanced again, less than two years later, on a 15-year fixed rate loan for 3.25%. Ran the numbers, very likely to be in this house for the whole term, and came out ahead, even with all the fees. Payment now is roughly the same as before, with no more HELOC, and with a little added to each month, I can get the whole thing done in about 14 years when I'm 52. Both kids will be in college, and I'm sure the extra monthly payments will be going to something else.

Family is earning more, thanks to two full-time jobs in a public school district. Thankfully, wife now even has a contract, something that hasn't happened before, which bodes well for her stress level at the end of each summer, and may make what happened last year unlikely to happen again - working for a private school which doesn't pay. The two incomes, spread now throughout the year, should help us pay down our 0% debt faster and hopefully give us a bit more cash throughout the year. We'll still use our tax refund ($3000 less this year) money for our summer trip, but having steady paychecks next summer will allow me to skip summer school (thank God).

Happy to see some investments tick upwards, but since I'm still 15 years away from even thinking about cashing some out, they can do whatever they want while I'm dollar-cost averaging. I've begun putting a good chunk away each month for the wife's Roth to go along with almost maximizing mine. If after several paychecks we're working with a surplus of cash, I'll consider putting more in to hers each month and topping out mine. To maximize the Roth, we'll need $5000 each by next April 15, but at the current rate, I'll have just over $4000 and the wife will have about $2200. Still quite a ways to go. In addition to this investment, both my wife and I are putting just a $50 each paycheck towards our 403bs, just for kicks. I'd rather max out the Roths then put any more in those accounts. I-bonds ($50), 529s for both girls ($150), and $50 towards a stock round out our monthly investments. That's about $1000 per month, which is about 17% of our take-home pay.

My Jeep is 10 years old now, and losing its reliability. Just trying to hang on another 1-2 years so my father will sell me his 2011 Jeep at a nice price. Wife's Jeep is not driven as much or as hard, and should last for a while. It's nice not making payments on either vehicle. Marriage is just as old as my car, which has gotten me thinking of another investment, trading up the diamond. On that note, I now time to think.

Tax Refund is Way Too Big....and I Don't Care

Had my tax return done last weekend and the refund turned out to be $13,100 between federal and state. Refund was buoyed by some window installations and a lot of child care expenses. With the rates the way they've been the last year or two, I don't feel bad about letting the government hold onto my money for awhile.

It is fun to get a large number like this though. It gets spent so quickly. Set aside $7K for summer expenses like always leaves a bit over $6K to spend. And spend it I will...$1500 towards the windows mentioned earlier, $1500 towards a cruise this summer, $1500 towards the HELOC, and $1500 towards the girls' private school tuition. There, all gone.

Past my mid-30's. Life sucks.

Moving on. I'm happy to see my 0% CC money continuing to drop down. Between the $250 I put to my wife's car, $100 minimum on the Discover 0%, and the $200 minimum on the Citibank 0%, that's $550 a month going right to that debt. Looking back over the past year it's depressing when you see the tiny dent put into the mortgage and the student loan. Not much can be done.

Well something is being done, at least for the mortgage. Took advantage of the really low rates and scored a 4.625% 20-year fixed interest rate with Citizens Bank. I'm pretty encouraged by the nearly 1 point rate drop and the shaving of 4 full years of the loan without increasing my payment each month. Additionally, I no longer have to pay PMI, which is worth it just by itself!

Continuing to Pay Things Down (with a bit more income)

Over a year?! Jeesh! What's happened? Let me see...

My wife bought an '09 Jeep Compass. For about $9000 (including trade-in) we got a brand new car with more room for the girls and her stuff, and I've been paying it down $250/month ever since. $6500 left to go on that item...(I should be updating it in my Expenses list).

My wife got a new job. I won't go into it, but it was a tough situation and unexpected losing her initial gig. She now has a less secure position in a tougher environment, but she is making more money and working another half-day during the week. It's not all bad, but the situation could be better. The extra money in our paycheck hasn't caught up to our monthly bills yet, since for awhile we were making it a mission to jumpstart the economy with our spending. Hopefully by the holidays, the extra $500/month will enable us to divert some cash to some of our long and short term goals (Roth accounts, trip to Cape Cod next summer).

I have a few other financial changes and decisions, but I will first see if I have the time to keep this up to date. It has been over a year since my last entry...

Another Jeep Liberty?

I've told myself ever since that New Year's Eve day in 2002 when I purchased an '03 Liberty brand new that I would run that puppy into the ground. The original terms of the SUV were 66 months at 5.9%. I got out of that pretty quick, switching it to a CC with 3.9% BT for life terms, then 0% for life, which is what it's been at for a few years now. Well, I continued making original payment amounts for a long time even though with the reduced rate, I didn't need to. Lo and behold, 66 months have just flown by and the Jeep is technically and financially all mine, even though the 0% card has other large purchases on it mixed in with the two car payments. One thing I regret doing about a year ago was losing the actual payoff figure on the two cars. I'm paying about $400 a month since that is the minimum payment, but the cards are 0% for Life and I'm not in any rush to lose that cushion by paying more than I have to. One day I am going to have to figure that out, but the cars are in good shape and not going anywhere.

Well, the other day I was talking to my father, another Liberty owner, who trades in his Jeeps every other year, pays it off completely, and then uses the barely two year old, great condition Liberty Limited to offset the new Jeep's price. I got to thinking that maybe this next time around, in February, I can get in on this somehow and come out with a two year old Limited with 30K miles. I know he takes care of his cars (oil change, washes, drives easy) too. Something to think about - he could take my car and trade it in, and whatever the difference between the two trade-in values I would owe him. I'm mulling it over.