For days going onto weeks, we’ve had an on-going great debate. To refinance or not? We’ve been plagued with this Big Fat Mortgage for over 3 years now. With interests rates this low, it  actually make sense to refinance. Oh, how I’ve been dreaming of (and planning for) this! You’d think I would jump at the chance. Yet, here I am, hesitating.

I’ve been running calculators over at bankrate.com and came across this article at fivecentnickel.

Yes, refinancing is going to lower our monthly overhead. This has been an overarching goal for so long now it’s hard to see anything else. However, if consider the effects on the interest paid throughout the life of the loan, its not such a happy day anymore.

Lowering my payment by $350 a month, is going to cost me thousands upon thousands of dollars in interest, if I stick with a 30 year term. If I shorten the term to save myself the interest, my payment is right back where it is today, limiting our lifestyle options.

What’s a homeowner to do? Do we  stay the course? Because we’ve always been able to pay our payment, no matter how tough it was. Or do I keep the focus and low our monthly payment? That’s always been the plan, and it will prepare us for the next phase of our lives whatever that may be.

In other household doings, it’s not quite fall yet, but you’d never know that after this weekend. My thoughts are turning to insulation and winter preparations. As a start to that, a snazzy new set of Socket Sealers are on the way courtesy of Amazon bucks. While our house is pretty well sealed,  we do have a drafty kitchen with a bunch of outlets on exterior walls. I'm going to use these throughout the house, hoping it will help the kitchen the most.

Also scored a Groupon for a $25 oil change for The Husband. He can’t even buy the oil for that price. Plus, oil changing is a chore he hates. I’m considering this  a little deposit in my karma bank. Next time I ask him to change the oil, he will grouse less because he didn’t have to do it the time before.

I am setting up automated Craigslist searches for rain barrels in my area. Ugly Garden is in need of a couple. I’m planning way ahead on this because I don’t want to pay $75 a pop. At that rate it would take forever for them to be worth their purchase price.