I'm curious. On the rare occasion we have a little extra money to put towards a bill, where would it best help?
The mortgage because it's the biggest balance (28 years to go, about $156,000 left at 4.00% rate)…
The car payment because it's the highest interest rate, and is also the closest to being paid off (18 months to go, about $2,500 left at 8.90%)…
Or, the student loan because it's in the middle (6 years to go, about $9,500 at 6.55% rate)…
Or should we put a little towards each?
So far, we've been putting it towards the mortgage principle, but I'm wondering if the money would be best served somewhere else for the next few years. I know every little bit helps.
Thanks!
Read more: Where would extra money be best served? Mortgage, car payment, or student loan?
