Wednesday, August 27, 2008

Payoff Date Goals

Things have been kind of busy here dealing with storms, college classes, the boys going back to school, and their activities starting back up.  But at the same time the finances have been kind of slow going.  There just hasn't been anything much to talk about.  So I was looking over my posts here and realized that I never gave any dates of when I'd like to get everything paid off.  

I guess I do have something to talk about now!

1. Pay off truck loan early: My goal on this is to completely pay it off by December 2009.  The original maturity date is October 2011.  Once it is paid off, then I'll also be downgrading the insurance coverage so I'll be saving some money there, too.
2. Start paying down Heloc until student loans come due: This will be done from January 2010 through June 2011, which is when I should have to start paying on my student loans.

3. Pay off student loans as quickly as possible:  I do not have an actual payoff goal on this as yet until I see the final damage.  I'll have a better idea around the summer/fall of 2010.  But know it will be paid off early.

4. Finish paying off Heloc:  This will also depend on other factors like how much I paid off prior to student loans coming due and what my work situation is like once I start paying it off again.

5. Work on paying off mortgage early:  The original maturity date on our mortgage was January 2034, but we knocked it down to August 2032 with an employee loan through the bank as I worked with them at the time we bought the home.  We paid that loan off a long time ago!  My ultimate goal would be to pay off the mortgage somewhere between 2020 and 2022 or sooner.  Again it will all depend on paying off the other debt, my employment situation, and any other things that happen to pop up.

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