We moved to this house first and foremost to get far away from our flood house in Cambridge. But we also moved with the goal of lowering our monthly costs. With the sale of our old house, we had just enough to put 20% down on the townhome, thereby securing a conventional loan at a low interest rate that drastically lowered our mortgage payment. And even on one income we have found it a lot easier to save our money here. And this month, we paid off one more debt. We took some savings, our tax return, and TJ's work bonus and we wrote a check to pay off our car. We purchased our car new 13 months ago, so it was a huge accomplishment for us to wipe out that loan. It felt so good that it gives us motivation to attack school loans now. Depending on TJ's promotion this summer, we will set up a plan to pay those off in 5-7 years at which point our home will be our only debt in the world. And once Topher starts school and I go back to work, we will have an even greater opportunity to increase our savings. Of course, by that time we will probably need to start shopping for a house that gives us all just a little more elbow room. Having a rambunctious boy will eventually make this house feel too small, I'm sure.
I know paying off a car sounds trivial, but it lets us know that we're on the right track. It's been almost 6 months since we moved into this home, but it still feels charmed. We're happier, we're paying off debt, and we love living in a populated city. Here are my two boys, both in jeans and white shirts, showing off how handsome and happy they are. To me, it looks like a little Gap ad.
The winter continues to drag on, but we're glad that it's almost March. Today we're going to take Topher to the animal shelter so he can see all the "bups" and "dats."