Saturday, May 7, 2011

Uncertain times

The gutter company did not charge the card right away, so it looks like I have another month to pay that bill off.  I could just pay off the second mortgage now if I really wanted to, but I'm nervous.  My job has slowed down a lot in the past few weeks and since I am temporary, I could be laid off at any time. My emergency fund is down to $3,500 (all in CDs), but I don't want to tap into that money to pay for the gutters and the balance on the second mortgage (which is at about $800).  So while I'm so close to paying off the second mortgage, I feel I should keep the emergency fund in tact and save up the money to pay for the gutters first.  Also, medical bills are starting to come in on a regular basis now for my husband's broken finger, and I don't know how much worse it's going to get.  He is still required to go to doctors checkups almost weekly and now they want to do some kind of "hand therapy" a couple times a week. I don't know how much our insurance will pay for all this. Right now we can live off what my husband makes each month, but we don't have money for extras - that's what my job pays for.  So the medical bills will probably have to be covered by my income.  I'd rather keep the emergency fund in place and know for sure that I can pay the credit card next month and the $500 (so far) in medical bills rather than have the mortgage paid off.  At least it's paid down enough that I'm only paying something like $5.75 in interest on this month's payment. It's frustrating to be so close, but even if I don't pay any extra towards the mortgage besides the regular payment, it should still be paid off in 4 months.  And that payment is in the budget using my husband's income. But, unless I'm unemployed in the next month or so, I'm guessing I'll just get it paid no later than the end of June.

No comments:

Post a Comment