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Happy Developments

July 12th, 2019 at 09:46 am

My company's contract has been renewed, but with that came some changes.

I lost my vacation and sick leave which is a bummer, but was paid out.

I finally received my raise from last year and the retro pay.

As a result of the super fat paycheck, I was able to pay 1/3 of my student loan balance. My new goal is to pay it off by the end of this year. We have savings that could pay this off entirely, but I'm not comfortable taking from savings. At least not yet.

DH and I are re-financing our mortgage to a 15-year, 3.5% fixed APR. That would reduce 2 years off the life of the original loan and an estimated $60-ish reduction in the mortgage payment. Our plan is to continue to make the same payments what we were normally paying now on this mortgage. As soon as I pay off my student loan, we would double the payments. We could conceivably pay off the mortgage in 5 years.

3 Responses to “Happy Developments”

  1. creditcardfree Says:

    I love happy money movements! How exciting to have less debt.

  2. rob62521 Says:

    Yay on paying down the student loan and getting time off your mortgage. Sorry you lost your vacation and sick leave.

  3. Amber Says:

    Congratulations on the extension and raise, as well as knocking that loan out

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