We are pretty fortunate in the fact that we don't have any personal loans or credit card debt. We have a mortgage that we would love to be free of though.
State of play with mortgage:
Dec 2011 - mortgage balance is $142k
- in mortgage pre-paid account - $28k
- House is conservatively valued at - $485 - 500k
So the GOAL : To be mortgage free in 6 years - Dec 2017!
This would mean keeping our payments above the bank required minimum and adding any extra income, tax refunds etc and budget savings to the payments.
Other family goals:
GOAL: Save $10k for family holiday in America in June 2013
(In May 2013 is would be 21 years since Mr BB and I met in America. Mr BB would also be turning 50 that year and Miss BB will be nearly 11 which is still a good age to enjoy the company of her parents and enjoy the sights of America.)
GOAL: Pay for Miss BB's Uni education in Starting 2021 - in 9 years
We would like to be able to pay her tuition fees so that she doesn't have a HECS debt at the end. (This is with the assumption she still wants to go to Uni. At the moment she wants to be a journalist)
