(You know, assuming DH keeps his new job for at least a year.)
Last month (November):
Years left: 5.67
P =$925.11, I = $289.30, Escrow = 613.58
This month (December):
Years left: 5.333333333
P =$929.45, I = $284.95, Escrow = 613.58
One month’s prepayment savings: $12.55
OMG, you guys, DH is SO HAPPY with his new job. He sneaks out of bed at night to work on knotty programming problems. Weekends too, instead of playing a computer game he’s got his work stuff open. (Because ze wants to, not because ze has to– generally because of an insight or a thought about a new approach.)
(for the tl:dr folks) The extra income isn’t all going to one place. I’m also not sure how used to this extra income I want to get… DH’s company isn’t a huge one and may not be around forever. Putting away a lot of the income will make it easier if he’s ever unemployed/self-employed again. Plus… deferred maintenance. And less worry.
As you can see, we’re using a good portion of our expected income this month to make up for the mortgage pre-payment we weren’t doing during the long unemployment/self-employment stretch. And then some. We’re going to have to figure out long-term what prepayment number we’re going to be using. We’re definitely bumping it back up to something, but is it going to be closer to $650/month or closer to $1150/mo (or more), I don’t know.
I sent in the form to request they take out the full amount for my 403(b) (prorated over 9 mo of salary). We’ll see if I did that correctly or not next pay period. (Spoiler alert: They did.)
I also sent in the form to request they take the full amount for my 457 (again, prorated over 9 mo of salary). I got a confirmation on that in the mail last week so it should be set to go. (Spoiler alert: It was.)
We were planning on doing Roth IRAs for the year, but then DH’s company started its match again, so we’ll be doing his 401(k) instead. (An effective salary increase of >$6K, if they keep it up for the full year.) (Update: but they won’t take it out for the first two months… apparently that’s how long they’re waiting for him to “vest” or something. So maybe one Roth while we’re waiting.)
Unfortunately DH hasn’t built up enough vacation days for us to visit his family, so even though we now have the $, we’re not going to be able to go, even though he wants to show off the kids. His parents will be coming after Christmas and mine before/during as per their usual. So no spending on travel.
DC2 has a biting problem that has escalated (the current daycare has too high a student/teacher ratio and DC2 tends to strike back instead of bursting into tears when a kid takes hir toy like DC1 did). Previously, DH spent some time in there to see what was going on and to help prevent bites. (“Ze is always provoked,” he reported back. More on this in a future post…) We don’t have the time to find new childcare or to provide it ourselves, so we’re going to suggest that we make a directed donation for them to pay for a third care-giver to shadow during the morning biting times. Either that or they could put DC1 in the 2s room where ze could do pottying too.
Some sort of vent(s) on the roof is/are rusting and need(s) to be replaced.
This summer our a/c developed a leak and we put off maintenance to fix that.
We upped our charitable donations (more on this in other posts).
We spent $350 at the grocery store the first weekend after DH accepted the job (but the previous weekend we’d only spent $70 and the next week $120 and some of that $350 spending was for Thanksgiving… still I accidentally bought an overpriced small hunk of cheese for $10 because I didn’t even look at the price. Not that there isn’t cheese worth $20/lb, but that cheese isn’t Stilton.)
We went to the fancy sushi place we haven’t been to in forever and spent $80. We may also start eating out 2x a week instead of 1x. We’ll see.
Going forward we have a very long list of deferred maintenance projects, should DH’s employment remain stable.
1. The children’s bathroom carpet needs to be replaced with tile.
2. The deck needs to be restained (DH usually does this, but we may get someone else to do it instead).
3. DH has decided he’d rather have someone mow down our bushes and trees again than do the lawnwork himself, so we’re going to revisit that in the Spring.
4. Wallpaper in the bathroom is falling down. We’d like it replaced with paint.
5. Everything needs repainting.
6. Would love to redo the kitchen so it is a better kitchen. I’ve been saying this since we bought the place though and who knows if it is ever going to happen or not.
7. We should get a piano instead of just a keyboard.
8. It would be nice to replace the dining room floor carpet with wood and then restain and reseal all the hardwood floors. Again, though, this is something we’ve been saying since we’ve been here and it may just not happen.
Most of all, though, I’m enjoying not worrying about money so much anymore. No longer counting pennies or even dollars. Bummed about lost earnings opportunities (it’s been a bad week for grants) or payments for services never rendered (see: daycare fiasco), but no longer freaking out about them.
What would you do if your income suddenly doubled?