Friday, August 28, 2009
Not Going to Make It
As of September 1, 2009, we will be down to $27,857 left on the mortgage. We will not be able to pay this off by December 31, 2009 to meet our goal unless I raid the emergency fund at the end. With no house note, we could easily re-build the EF in 2010. But should I? What's the big deal about December 31, 2009? Not having an EF seems to be an evil spirit magnet guaranteed to bring on major expenses. Why not just extend the goal to February or March?? BECAUSE I WANT THIS FINISHED!! I don't know---should I raid the EF at the end or extend the agony?
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4 comments:
It's a great feeling to pay off your house - I know, I did it a couple of years ago. But you can't use the house for a car repair, or to replace an appliance that breaks. I vote keep the emergency fund and postpone the mortgage payoff date for a few months.
Extend the agony and save the EF. March 2010 wouldn't be so bad as a payoff date. That's the great thing about ambitious goals: even if you fall short, what you accomplish can still be pretty amazing.
Good luck! :)
I'm going to go with the twin anons. In this economy, your emergency fund is way too important. Plus, it's an EMERGENCY fund--you getting antsy to get rid of the mortgage is NOT an EMERGENCY. In a better economy, it might even be a good idea but not right now.
Drat! (Stamps foot, sticks out lower lip...)
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