I finally made the Under 30 Honor Roll, my parents would be so proud
I'm in. Tonight we did the final walk-through on our house, pretty exciting. Closing is next Wednesday or Thursday. Saturday we are cleaning and moving boxes, Tuesday is the big move. This past year has been a financial whirlwind - payed off a school loan (yeah), now signing up for a 30 year mortgage (boo, hiss). Ever feel overwhelmed by debt? I do from time to time. My wife tells me - most people have a mortgage, I just want to get out of all debt including a large loan from a giant bank asap.
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I wouldn't feel too concerned about the mortgage. It's one of the best debts you can have (if there's such thing as good debt), because it's equity backed and the interest is deductible. I personally worry about student loans because the only equity in them is brain power and you can't liquidate that. But the interest rates on them are so low, I'm better off using the money to pay them down faster to invest in something with a higher return. Sort of a catch 22.
ReplyDeleteAnyway, congratulations on the new home!