August 2017 Check-in

Everything is chugging along.  The mortgage balance is smaller (we are on track to pay off $60,000 this year).  The 2016 and 2017 Roth IRAs are fully funded and 2018 funds are in the hopper.  Over the past year we’ve taken two week-long vacations and lots of long weekend trips, usually staying with friends and using credit card airline miles.

After our last week-long vacation in June, we decided to try switching to debit cards for a spell.  Again and again, I’ve heard that we spend more with credit cards and let me tell you, it’s absolutely true.  We’ve been putting just enough money in the checking account to cover two weeks at a time.  I hate getting below a $100 balance and so far, it’s only happened once.

Lately I’m struggling internally over whether we should just pay the regular mortgage payment for the next 7.5 years and invest the “surplus” in index funds.  The math makes sense but my heart doesn’t like it.