Debt-free, here I come!

As we begin General Conference, I'm reminded of repeated admonition by the prophets to get out of debt, live within our means and prepare for the future. "Joyfully living within our means" (Elder Hales' talk worth reviewing from the Saturday AM session).

Debt and addiction (uncontrolled wants) are actually very similar. The treatment is also similar and poor decisions of the past have long-lasting consequences for the future. But, every temptation we overcome makes us stronger. I haven't always done as well as I would have liked but I'm getting better at it.
The church has a new family finance pamphlet to remind us of the principles. This can be downloaded in various languages. Click on the post title to be taken to the resource.

I'm refinancing my house - the appraisal is Monday. I'll get 4.75% for 15 years and I'm staying with my credit union where the original mortgage was because they have been great - even in the original loan when I was not in the best of circumstances; yet they gave me an excellent rate for the time - little did I know it would drop so much more in just a few years! I've spent the last four years aquiring an excellent credit score and paying other debt. My goal will be to pay it off within 10 years if at all possible so I can retire one day. Payments will be higher but it shaves off 11 years even if I can't add principle. If I do, I might shave off another 5. I should have done it before now because rates were even a little lower. I still could have reduced it by a little more by paying points but the bottom line wasn't really worth it.

I also added extra roof insulation. The Questar rebate program means I pay a total of $26 for the whole house to come to R-50 level. Of course we've been paying for this through our gas bill so if you have a home that could use the extra insulation, get what you're paying for now! My older home had extra added at some point but this will bring it way above code and hopefully help compensate for the lack of insulation in the walls - an idea they didn't really understand or appreciate in the 50s. They tell me it still helps because much of the rising heat can't escape through the roof, thus resulting in less drawing through the walls.

I have a few more improvements I'm working on. One of my two furnaces needs to be repaired - fortunately it is an energy efficient unit. We also have very hard water in Bountiful and the water softener doesn't work. I have some more windows to repair and replace. My kitchen bay was not built properly and the window has moisture between the panes with one cracked window. The roof will need to be redone pretty soon but it's not leaking now, thanks to Steve's repair work, so hopefully it will buy me a little more time.

The kitchen project is slowly coming about as I can do it. My ambition is outrunning my ability and time, I'm afraid. But, the fun is in the journey - not just the destination.