Tuesday, September 1, 2009

Ka-Ching!

Onto some good news, shall we? For once, the economic downturn/depression/housing bubble burst has come up with a silver lining. For the fourth year in a row, our property value, and therefore, our estimated property taxes, have fallen. This means that our mortgage company will be escrowing less money, lowering our monthly payment. Plus, we got a check for the extra leftover in the escrow account. Ka-ching!

So, there's two unanticipated sources of cash -- the savings on our monthly payment and the escrow check. Last year, trying to follow Dave Ramsey's advice and working towards debt-free-but-the-house, I took the monthly savings and put it towards an increased car payment each month. I will probably do that again this year.

As for the escrow check, I believe that it will go towards the purchase of the (angels singing) China Cabinet.

7 comments:

seussgirl said...

Yay, that's great! We've looked into doing the Ramsey plan, but at this point we're waiting till we have an income. ;)

Lorza said...

WOOOO HOOOO! That is awesome! I personally paid off about 30,000+ in debt doing it Ramsey's way...in the last 1.75 years. YES THIRTY THOUSAND. The only debt we have currently(before buying the house) Is DH's loans from medical school...and I have been doubling the payment since I paid off the credit cards. No car payments, etc. I don't fit in with other BMW driving doctors wives..but I don't care. I am living like no one else right now so later I can live like no one else.

GOOD LUCK!!!!

LJ said...

Totally jealous! Nice snag - what are you gonna get?

meinsideout said...

wee hee! that is great!

~Jess said...

We really liked Dave Ramsey's advice...just sound financial information.

That's great that you guys are going to get a bit extra income: Can't wait to see what china cabinet you pick out!

Melis.sa said...

woot woot!!
I love dave ramsey too!

We're done about 40k in a little over a year and a half following his plan :)

Awesome job!

Fertilized said...

woooo! Now that is a very nice thing!