I decided to splurge on an ultrabook that I have been planning to buy for a year now since I travel a lot for work. At last, I got a Samsung ultrabook for well under a grand.
Our house’s value get a good jump after the latest third-party appraisal when we applied for a home equity loan with 1.99% APR. I was surprise that it holds value amid all the news regarding the housing market burst nationally.
The approved loan will be distributed next month, and when I received it I will just put the entire amount directly into our mortgage. It will save us at least $2,028 in interest with this single move. The total cost for the approved equity loan is just the price of the appraisal, i.e. $300. Anyway, expect a big change in our home mortgage balance next month.
Overall, the house’s appraisal and the tax refunds contribute around $8,000 jump to the net worth this month. I look back at last year’s May and I notice that from May 2011 to May 2012, our year-to-year net worth has increased by $60,000. And just a few years earlier, we started out at a negative net worth, not even $0. It is very fortunate to realize our Financial Prize.
Even though I feel lucky, there’s an urgency inside me as I always feel that life is filled with bumps along the way. For the last five years, life has been good to us but we expect it will turn south at any moment now. With that expectation in mind, we are trying to eliminate our debts to minimize the downside before the boat turns. Hopefully, the good time continues for a few more years (four more years would be awesome). Then we can take life by the horn and welcome whatever life throws at us.