saving-money-by-being frugal and living frugally

We are $50,000 richer, sort of

Well, it’s gone. The rental property is officially in the hands of it’s new owners as of June 5th.

Subsequently, we now have $50,000-ish burning a hole in our bank account. Don’t worry, it’ won’t be burning a hole for long.

We have our spreadsheet out and have begun making our way through the lenders we owe money to and calling to do full-loan payoffs.

Car Loan – Gone

Furniture Loan – Gone

All Credit Cards –  Gone

Unfortunately, the rental income of over $1k per month is also gone.

We will have to readjust our finances to account for the missing income, but that should be absorbed like the lack of payments on any debt!

Also, we paid our mortgage payment until August. So we have a couple months of breathing to get settled into this new financial pattern.

 

 

 

 

2 thoughts

  1. That must be a nice feeling. Nicely done laying off some of your debt. Keep focused on getting the expenses down and not falling back into the same track. Will you be addressing your other housing/mortgage situation in the future?

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