Mortgage Payments: The Great Debate

I haven't had to make my first house payment yet (first payment is due August 1). It's been kind of surreal living rent and mortgage free for a month. I find it's been really hard to budget like normal or keep a handle on my finances.

You're thinking, Amber, it's not that hard. Just take what you normally would have paid for rent in July and save it. Well, half of you are probably thinking go spend that money on stuff on the house or at least on a hooker and coke binge.

I've been thinking those things too. But I actually have all these bills and moving expenses I still need to pay for, like the remainder of my termite bill and the cost of floor refinishing. I had a garage sale the day before I moved and actually made over $400 from that plus I got a refund from escrow. Those combined with not having to pay rent in July pretty much covers those bills, but since I haven't gotten them all yet (like cable/phone istallation, UHaul rental, etc), I still don't know exactly what I owe. And it's totally throwing off my budgeting! I like my habit of know when I get each paycheck, I take X amount and put it in savings, that I need X amount for bills, and the rest is for food, gas and fun. Right now everything is just dumping in to my checking account and I feel like I'm just spending like mad on bills and on stuff for my house.

Once I get my first mortgage payment and my initial Cox and SDGE bills paid, I'll feel better because I'll know what stuff costs. I don't like this unknown of how much electricity for a house will cost. And water. How much does that cost?! And you only get the water bill every other month so I won't have my first one until August. Just what I want, one big bill instead of two small ones.

So what's the great debate, anyway, you ask? Do I sign up for twice a month mortgage payments or keep it at once a month. Once a month is baisically an entire paycheck. It's totally a mental thing, but I don't like the idea of having to make one paycheck last 4 weeks; I haven't had to do that since my first job out of college. But maybe that's easier to budget than making two payments a month because I'll know "this is; that's all I've got until next month's paycheck"?

I'm not complaining at all; I'm lucky to be financially stable and in a position to buy a home on my own an not need roommates to live in it. I'm just trying explain is it's so strange and awkward for me to have to go back to being on a budget and watching where every dollar goes. It's like being back in college.

If I didn't want to save so much each month, I wouldn't need to worry about a budget. But I want to save, so that means I need to go on a tight budget, at least for a few months until I figure out the true cost of being a home owner. Unknows suck when you're a planner-type.

Also, where's my $8000 check from the government?! Gimmie my first-time home buyer's credit so I can replinish my now-pathetic savings account and not be stressed out about that. Stupid, greedy closing costs...