December's earnings

Here's our December earnings.  I thought it was going to be less than last month because I didn't work as much overtime, but since there were 5 Thursdays this month (my pay day), there was an extra paycheck.

Husband's income: $3624.90
My income: $2425.93
Total: 6050.83

So a couple with no kids and that has $6,000 worth of income should not be broke at the end of the month.  I need to figure out where the money is going. We should be able to live on $3,000 and pay $3,000 toward that mortgage. Even if we lived on $4,000, we should still have $2,000 left.

It's going to be tight but...

I paid $1,000 towards the second mortgage today.  I'll give an update on the balance next week once the payment goes through for both mortgages. Now let's hope my husband keeps the credit card bill low. It was around $1,900 with 8 more billing days left.  So still a lot higher than I'd like, but about $700 of that was car repairs.

Mortgage rebate time!

I have a quick update on our mortgage total because our credit card is through the same financial institution as our mortgage and we get 1% back from our credit card purchases that gets applied to our mortgage principal in late December. It's taken out of the 1st mortgage, but at least it brings the grand total one step closer to the break even point. Our rebate was $323.09 - that means we spent $32,309 on that credit card - wow! That means we spent an average of $2,692.42 a month.  We had some rather big purchases this year including LASIK surgery, carpet, and of course the iPad.  We really need to keep our monthly bill $1,600 or under.  I'm sure we can get by with $1,000 if we tried.

Anyway, here is the updated mortgage principal balance:

1st Mortgage: $185,469.35
2nd Mortgage: $22,993.70
Total: $208,463.05