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just_the_things62. Save $5 a day and make an extra mortgage payment each year in May
I set up a payment this month for my mortgage that is the normal payment + the amount of a payment to be applied directly to the principal. I'd feel better about this if I'd been able to save up the full amount of the payment, but there wasn't enough time between December and now at $5 a day. With the math done right, I won't have this problem again next year.
Also, I ran into three unexpected expenses this month of over $5000. Thank goodness my federal and state tax refunds came in and are able to cover a little of that. I'm going to have to dip into my savings account for the rest. But my house needs siding, my car needs new tires, and my cat is very ill and needed surgery (with possibly another surgery this weekend). So May is just a month of bad timing for me this year. However, it is the month during which I bought my house, and with the automatic savings plan in place, I won't have this issue again next year.
But this has been officially done for May 2013.
I set up a payment this month for my mortgage that is the normal payment + the amount of a payment to be applied directly to the principal. I'd feel better about this if I'd been able to save up the full amount of the payment, but there wasn't enough time between December and now at $5 a day. With the math done right, I won't have this problem again next year.
Also, I ran into three unexpected expenses this month of over $5000. Thank goodness my federal and state tax refunds came in and are able to cover a little of that. I'm going to have to dip into my savings account for the rest. But my house needs siding, my car needs new tires, and my cat is very ill and needed surgery (with possibly another surgery this weekend). So May is just a month of bad timing for me this year. However, it is the month during which I bought my house, and with the automatic savings plan in place, I won't have this issue again next year.
But this has been officially done for May 2013.
