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[quote=Anonymous][quote=Anonymous]I agree with the pps who said to tackle the student loan first, after credit card and the personal loan. The interest rate is higher and it's not the kind of debt you want around your neck. Plus, that payment is going to keep increasing and will eventually eat into your "extra" 300-400 anyway. Make sure you understand how to apply extra payments to principal too. It used to be that unless you specified that the money went to principal, the lender could choose to apply it to interest. I don't know if this is still the case. But, make sure you check with your lender on the proper way to submit extra principal payments. Anyway, if you pay 500 per month on the student loan, you should be done in about 3 years. At that point, knock out the car loan.

The PMI, well, I totally get how you feel about that. It seems like such a colossal waste of money. It's not always that simple to get rid of those though. Do you know what the terms of your PMI are? I don't remember the details, but we ended up having to re-fi to get rid of ours two years ago. (We got a better interest rate, so it was fine.) You may just be stuck with it. I would definitely tackle it last.

In the meantime, just keep packing that savings away until you have 6 months to a year in expenses saved. At that point, redirect the $800 savings to the IRA for your husband.[/quote]

Thanks for your input!  We recently purchased our home and as per the PMI terms, we have the right to reuest its cancellation "the date the principal balance of the loan is first scheduled to rach 80% of the original value of the property, or the primcipal balance actually reaches 80% of the original value of the property"... satisfying certain condictions such as submittin written cancellatiin, having good payment history etc.

To the post that suggested to refinance the students loan: thanks! i have nit actually considered that, but i will search online. my loans are unsubsidized federal loan though. I am not sure if a private lender will refinance though.
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