Quote:
Originally Posted by Bearcat
What do extra payments on the car and/or student loans look like? That's probably where I'd start, just doing the math on how much, say 1 extra payment a year or every 6 months, to each of those saves you in interest in the long run.
So, maybe you're not paying them off as soon as humanly possible, but could save hundreds in interest over time. If you have a decent rate on the mortgage, I wouldn't worry about it.
Messing with 401k/retirement investments is only something I've done in very short term and targeted situations, so I agree it's probably not worth going that route.
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Yea we can add extra payments to the loans and plan too. That’s kinda where we ended up. That’s the same advice on the 401 stuff I got from others. I get a 50% match up to 10 percent so it’s tough to not contribute the full ten and use it to pay down any debt quicker so that’s part of it. It’s free money so I feel I can’t do less than that for the opportunity cost.
It’s just about patience and that’s something I need to get better at lol. If I’m throwing money at it I’d like it to go quick but throwing nothing extra doesn’t make it go quicker at all.