Quote:
Originally Posted by piku
Wow 3 something on the house? That's awesome. You can really take your time paying that back, market investments are sure to do better... It was hard for me to get over the idea that saving money is smarter than paying down debt. I mean when do you stop saving. When is "enough" enough in your oh **** fund? The car loan is pretty good too. That pretty much makes up for the depreciation.
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3.75 i think it is... we got an fha loan, which is now even lower
https://www.fha.com
the best part about the loan is that it goes with the house, so in the future when we sell the next buyer get's that interest rate. not entirely sure how that works out, but it should be a good selling point.
we missed paying the extra mortgage payment, "one extra payment a year each year can reduce the total mortgage from 30 years to 23 years"
ultimately, i don't see us here past 10 years... it's a little small for a family. but in either case, i should shoot out an extra mortgage payment...
as for the oh **** fund... who the hell knows. i think we'd be good for 4-6 months. i socked a lot away while i was a contract employee. sadly, when i went f/t i basically lost that amount to save each paycheck.
i'm beginning to wonder why i chose f/t now... their health insurance is embarrassing. the time off is good though. the main reason was to place myself strategically within the company prior to their move. we lost a lot of developers who didnt want to travel to philly. figured i better get hired before someone else does. try to be "the man" before others come in