I made a rather long-winded introduction here: http://www.getrichslowly.org/forum/viewtopic.php?f=2&t=74825
It boils down to this: I am ready to start attacking my SL and mortgage. I've been paying the minimums. The payoff dates scare me. Debt:
As of 4/4/2014
Mortgage: $204,448.88 @3.75%
Student Loan: $16,594.97 @3%Income:
Mortgage: $1,304.70 with payoff date of 4/2043
Student Loan: $219.33 with payoff date of 4/2023
Extra payment on Student Loan (started this month): $195.032014 Goals:
Mortgage: This month, I sent a one time extra payment of $750 to test direct deposit from a new bank. Other than that, I have no plans to pay more than the minimum.
Student Loan: I want to cut it in half ($8K) by the end of the year. I plan to apply this year's tax return, continue the extra monthly payment of $195.30 and find a few more dollars here and there to apply to it by the end of the year.Long term Goals:
Mortgage: I want to cut the payoff date in half. That would mean a payoff by 4/2028
Student Loan: I want to pay this off early in 2015.
Off I go....