Refinancing - The Gift That Keeps on Giving

We have one of those community mail boxes, where there are like 10 mailboxes in one. They are locked so we don’t always get our mail every day. One day last week, when I went to get the mail, I realized there were a couple days worth of mail in there.

We had several tax documents from our church. I’m very happy to say that we gave $1600 to our church last year. That is the most we have every given and we are hoping to more than double that this year! There were a couple of coupons for The Husband to a store he frequents. But, most unexpectedly, there was another refund check from our refinance.

The whole reason we refinanced our mortgage was because we had a first and a second mortgage and did for 15+ years. We had finally paid enough towards our principle and gained enough equity, that we owe less than 80% of the value of our house. A couple of weeks ago we received a refund check from our firstmortgage to the tune of $2800. We did not expect to get anything back from our second, but apparently it, too, was overpaid.

We got a check for $340+; I’m so excited.

This is more windfall money so I am going to split it 50/50. Half will go to savings and the other half towards our credit card debt. That works out to $170+ for both debt and savings.

This small and unexpected windfall will work towards two of my biggest goals for 2020: decreasing debt and increasing savings.

In the first 6 weeks of 2020 alone, we have deposited $2780 into our savings account, most of which is a direct result of our refinance, but that puts us over half way to our goal for the year! That also does not include the couple hundred dollars we have deposited into The Kids’ accounts! (In order to meet our goal of $5000 into savings, I found a challenge on Pinterest that tells you how much money to deposit each week. I also used the “extra” money from the refinance and my normal deposits. I should have no problem meeting this goal!)

Anyway, this was just supposed to be a quick post about getting some more unexpected money and what we planned to do with it! Hopefully we will put it to good use.