I went to the city today to finally get that haircut that I'm in desperate need of. Then afterwards I meet up with Dh for lunch. The weather today is terrible but it was good to get out of the house.
Today we received a cheque in the mail worth $300, this was unexpected money. I don't remember getting info about this, neither has DH. This was for a "special" dividend for one of DH's stock. Normally he has a DRP for this stock but for this special dividend it does not qualify for DRP. Either way we will take, it is 100% franked already too.
I will have to wait tonight to talk to DH on what we should do with this money. Right now I'm thinking mortgage. DH will probably want to re-invest it, it will be his decision since it is his stock.
On another news, our interest only mortgage has ended, so we are now variable which is roughly $1800 a month. We do intend to keep paying more than this.
Unexpected money and I finally got a hair cut
May 12th, 2011 at 06:36 am
May 18th, 2011 at 02:14 am 1305684860
The reason why we opted for interest only loan for the first 5 years when we refinance our mortgage is to give us a bit of room in the cash flow area. At that time we were just recovering from a 1 1/2 unemployment. So we wanted a bit of cash fund just in case of emergency. Our home loan also had a prepayment with a redrawal option if we need that prepaid money back. To us it gave us an option, just in case.