Biting the Bullet!

I have been cancelling all the remaining subscriptions for various Internet Marketing services. How quickly those small amounts add up! $6.95 here… $11.95 there…. I am considering keeping on paying in one mlm company for a few more months because I recently invested in getting sign ups and I am having some (small) success with it. If I keep it that will be just $30 a month.
I kind of feel odd cancelling everything but I need to bite the bullet and just do it. That money could be invested for a REAL rate of return instead of a possible one. Really its like being sold HOPE for the future by joining all those companies. I have also been cancelling and unsubscribing from all the email lists I seem to be on, all trying to sell me something.

I forgot to add my HECS debt into my total debt owed so I will find out later exactly how much I owe and what is the most cost effective option for paying it back. While I was looking for the HECS site I came across this Australian Graduate Loan Scheme. It isn’t suitable for me just at them moment and I haven’t looked into all the details but it may be of interest to someone out there. It is for graduates with a HECs debt earning over $65,000 a year.

My goal is to pay off our home loan in 5 years.

So by June 30th 2012 the mortgage will be paid off!
There! I’ve said it publically and now I am committed to it! I am making June 30th the ‘official’ start date as it is the end of the tax year. I did pay and extra $150 off the home loan though this week and it felt good to get started!
The weekly payments to do this will be $706.10!! I plan on adding any extra income or payments to it as well.

My partner really like his creature comforts whereas I am happy to live frugally for a couple of years in order to do it so it will not be all smooth sailing. What has worked best in the past is for to just pay the money immediately into the account and them there is only what is left to spend. It will be hard at first, particularly with kids at college.
I will post my monthly totals of debt and savings.

Here is our net worth at the moment:
Assetts: $453,500
Liabilities: $179,237
Net worth: $273,263
I did not include personal belongings in there such as furniture and household goods. we have average quality furniture which is about due to be replaced. I don’t see my household belonings as assetts I can realise if needed so I won’t be including them.

It doesn’t look as bad when I see it but realistically most of this is from our home, so money to live on and travel with in retirement is not looking good. I have no problem with borrowing to invest a bit later, the credit union is happy to loan us money, but we need to be in a better position first.

I feel scared and excited about doing this!