Our current payment is now $770.22/bi-weekly and we could increase it as high as $885.75.
We could drop from 24 years amortization to 15 years, 6 months....from being 53 to 44 years old w/out a mortgage.... wowza!
...but what would we have to sacrifice now in order to do that?..For each of these scenarios we would need to come up with $29.78, $54.78, $79.78, or $115.53 bi-weekly.
Do you see where it could come from? Here's a snapshot of our current monthly budget and our debts:
I should mention...just in case there's anyone new reading along - that this monthly budget is based on Jordan's salary with no commission. I can't budget fixed amounts for that - but it's how we intended on reach the rest of our planned saving/spending goals. We also intended to continue to pay of the LOC, and Escape using commissions.
One last thing.. in case your interested....the interest rates.
- Kia Rio - 0%
- Mortgage - 3.39%
- Line of Credit - 5.49% (unsecured, and tied to prime)
- Escape - 6.90%