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April 2018 Update

April 3rd, 2018 at 08:00 am

Just a quick update and snapshot in time:

Mortgage:

$ 136,859.02 March 2018
- $385.79 Regular Principal
- $150.00 Additional Principal
____________
$ 136,323.23 Ending April 2018

EF:

$ 8,000.00 February 2018
+ $1,000.00 March 2018
____________
$ 9,000.00 Ending March 2018

New Vehicle Fund (NVF):

$ 12,363.00 February 2018
+ $898.00 March 2018
____________
$ 13,261.00 Ending March 2018

January 2018 Update

January 9th, 2018 at 07:59 am

Things are moving right along on auto pilot.

Mortgage:

$ 138,453.73 December 2017
- $379.47 Regular Principal
- $150.00 Additional Principal
____________
$ 137,924.26 January 2018

Now I want to see the balance in the $120K's!

EF:

$ 7,000.00 December 2017
+ $1,000.00 January 2018
____________
$ 8,000.00 January 2018

New Vehicle Fund (NVF):

$ 7,830.00 November 2017
+ $830.00 December 2017
____________
$ 8,660.00 December 2017

Retirement:

Currently have $400/ mo. contributions toward ROTH IRAs, split $200/$200 for DW and I. We may increase that by $50 each this year.

I may also increase my 457 contributions from 5% to 10%. This may happen mid year when I should settle on a wage renegotiation, +$6-8K/ yr. I'll have to double check to see if DW maximizes her employee match (6%), if not we will reevaluate that as well to seek maximum benefit.

November 2017 Update

November 2nd, 2017 at 06:22 am

It has been 8 months since my last update, things have just been on auto pilot recently!

Mortgage:

$ 139,506.43 October 2017
- $375.31 Regular Principal
- $150.00 Additional Principal
____________
$138,981.12 November 2017


EF:

$7,000.00

Been maintaining since July 2017, we diverted some funds to pay for our yearly (at least it seems that way) visit to FL, which we took end of September. This fund increases by approximately $1,000/ month, given maintaining our current wages and cash flow.

NVF (New Vehicle Fund):

$7,000.00

I have been saving for a new vehicle. There is nothing wrong with my current 10 year old Honda that I basically maintain myself, just find myself requiring the use of a truck more often than not. Has 106K miles and just put new tires on it. I just paid for mounting and balancing and an alignment at the dealer and gave them my customer supplied tires. I was able to research best price and model of tire for my needs. My next vehicle is probably a mid-size truck, so I began saving Jan 2017, those are not cheap. Just seeing how close I can come to either an outright cash deal or 50-60% down with a 36 month note on the remainder and keep some additional cash liquid. I would not be trading my fun to drive simple driver oriented Honda Civic Si 4 door Sedan, it would see garage duty and nice weather cruising. Ford and Jeep are supposed to be releasing new products to the segment in the next 8-12 months or so. This fund increases by approximately $832/ month, given maintaining our current wages and cash flow.

Other:

I cashed out 6 weeks of time at work in September, I put it all in my personal saving account. In 2018, I will be cashing out another 4 weeks and just banking it there as well. The first of the year, in January, I will be receiving a yearly longevity check, which will also boost that account. I have no plans for this money, but I do have a non-frugal automotive hobby as I am an automotive enthusiast.

March 2017 Mortgage and EF

March 3rd, 2017 at 11:26 am

Mortgage:

$ 143,635.00 February 2017
- $358.96 Regular Principal
- $150.00 Additional Principal
____________
$143,126.04 March 2017

This was last payment that included PMI on our FHA loan! The April payment is already adjusted by the mortgage servicer!

EF:

$ 5,000 February 2017
+ 1,000 Added
_______
$ 6,000 March 2017

Mortgage, FE, 2016 Taxes

February 2nd, 2017 at 09:12 am

Mortgage:

$ 144,141.96 January 2017
- $356.96 Regular Principal
- $150.00 Additional Principal
____________
$143,635.00 February 2017

Finally 78% LTV! Monthly Mortgage Insurance cancellation in the works!

EF:

$ 4,000 January 2017
+ 1,000 Added
_______
$ 5,000 February 2017

2016 Taxes:

Ouch, did our taxes, but did not finalize, we owe Feds $1,800 and NYS $200. We have moved into another tax bracket and will adjust withholding as we both currently claim Fed M-0 and NYS M-0. Yeah, so we will split the additional withholding amount request between DW and I for 2017 pay check as we make very similar wages. I don't have a problem as March 2017 DW gets an "Extra" paycheck and will pay utilizing those funds, and should cover 90% and will make the difference up with cash flow. Bummer, but oh well, as that "Extra" check could have went toward something else.

Updates!

January 26th, 2017 at 08:53 am

It has been about 4 months or so since my last update, which have mostly been mortgage pre-payment updates, but some things have changed and thought I would share.

The mortgage pre-payment is still moving forward, but the $700 extra (for a total $1,000 off principal each payment) has been reduced to $150 (for a total of $500 off principal each payment). That was done in anticipation of the Holidays and potentially replacing my vehicle in the near future, as well as increasing our cash on hand to possibly move to a larger home sometime in the next 3-5 years. You may be asking why put additional to the mortgage? Mortgage payoff is pretty much what we would realize after a sale, if sold in the next couple of months. Mortgage regulations state, that I have read anyway, require 30% equity in order consider the rents on the current home to be considered income for a new mortgage loan application. Even if we don't rent, I still would like to have options.

Finally received a promotion at work, so 25% increase in base yearly pay is nice, but not effective until Jan 30, 2017, few days left. The management package, no longer union employee, is nice and savings on health insurance alone is a nice net in the pay check. The ability to cash out 2 weeks vacation and 2 weeks compensatory time are nice, which I will be doing for additional monies realized. Nice to see a decent "raise" after going without from 2009 to 2015.

I was done paying into the NYS retirement account (414H) back in July 2016, have since been diverting that to NYS Deferred Compensation 403B plan, and increased it from 3% (414H) to 5% (403B). I will most likely increase that after I see a couple checks to know the effect of the promotion and where we want to be.

The Vanguard ROTH IRA is doing great, just need to look into increasing, which was about 50% funded for both DW and I in 2016.

DW also signed up for her company 401K 6% match, for a total of 12%, she was able to get the match after 2 years of employment. She is up for a 5% raise in the next couple months.

Mortgage Payment - August 2016

August 2nd, 2016 at 05:00 am

$ 147,710.17 July 2016
- $342.83 Regular Principal
- $700.00 Additional Principal
____________
$146,667.34 August 2016

Mortgage Payment - July 2016

July 5th, 2016 at 05:28 am

$148,748.89 June 2016
- $338.72 Regular Principal
- $700.00 Additional Principal
____________
$147,710.17 July 2016

Mortgage Payment - June 2016

June 2nd, 2016 at 08:10 am

$149,783.52 May 2016
- $334.63 Regular Principal
- $700.00 Additional Principal
____________
$148,748.89 June 2016

Mortgage Payment - May 2016

May 2nd, 2016 at 07:20 am

$150,814.07 April 2016
- $330.55 Regular Principal
- $700.00 Additional Principal
____________
$149,783.52 May 2016

Milestone! Finally in the $140K's!

Mortgage Payment - April 2016

April 4th, 2016 at 05:16 am

$151,840.55 March 2016
- $326.48 Regular Principal
- $700.00 Additional Principal
____________
$150,814.07 April 2016

Mortgage Payment - March 2016

March 2nd, 2016 at 04:53 am

$152,862.99 February 2016
- $322.44 Regular Principal
- $700.00 Additional Principal
____________
$151,840.55 March 2016

2015 Taxes

February 26th, 2016 at 11:56 am

Last night I sat down and did our 2015 taxes, pretty simple, but not simple enough to do the 1040EZ for free, Haha!

After all said and done:

Owe Feds: ($135)
Refund State: $239
Turbo Tax: ($77.83)
___________________
Net: +$26.17

Pretty much perfect, just the way I like it!

I set that auto Debit for the Feds on 04-01-2016, we should have received our State refund by then and not have to worry about adding or moving money around, well, for that reason anyway.