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Good news on mortgage interest!

August 29th, 2013 at 10:46 pm

Just got our annual letter about our adjustable mortgage rate. Beginning Nov. 1, it's going down from 3.5% to 3.125%. Our payment will go from $1,070.59 to $1,040.77!

This is good timing, because I've been thinking how to handle my upcoming dental costs, and I was thinking rather than save up snowflakes this year, I'd just put all possible snowflakes to debt and savings, and next year change my flex spending to have enough to pay for it. That'll mean a lower paycheck, but also a lower tax bill for 2014, so I think it's the way to go.

So $30 less for our mortgage per month will help us not feel the sting of the lower paycheck next year. A few other recent lower bills that I haven't worked into the regular budget yet: the diaper service going from $82 to $22 per month, and cable/internet from $76 to $65. So with the mortgage change that's $100 lower monthly bills. I reckon the increased flex spending will take a $200-per-month bite out of my take-home pay next year. So our budget surplus will only decrease by $100. I can deal with that, especially with AS's raise kicking in next month.

1 Responses to “Good news on mortgage interest!”

  1. rob62521 Says:
    1377823041

    Certainly good news. Congrats!

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