Wednesday, September 21, 2011

A Light at the End of the Tunnel... and MAJOR SAVINGS

Tomorrow is the big day! After over 2 months from when we submitted our bid on our house and it was accepted, we will officially be signing tomorrow! I guess two months isn't all that long for some people but for us it has felt like an eternity!

We came up with a game plan for paying off our debts when we started to look for a home. Part of that plan was to move in close to my husbands work. We wanted to not only save on gas but we wanted to save on our current rent payment. When our "new" home, a condo, came on the market as a foreclosure, we knew we had found the place to help us meet our goals! So to say the least, ever since we found it, we have been ever so anxious to get going on our debt snowball!

Does it seem weird that we are going further in debt to get out of debt faster? Why yes it does, but only if put that way. 

See, right now we pay $677 in rent a month... when we move, we will only pay $270 plus HOA fees of $150, a savings of $257 a month and save a whopping $400 in gas as well! 

AND on top of that, the $270 a month goes to our own personal investment! When we are debt free besides the condo, it'll become a rental and we'll have our first cash flow property!

Yes, my husband and I are looking forward to tomorrow! Wahoo!
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Camille said...

CONGRATS Julie! We are so happy for you!

Bonnie said...

Trent keeps saying you guys are so smart to be doing what you are doing! You have impressed my financial husband!

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