The wife and I have two large debts which are student loans at ~$68,000 at an average of 5.5% the other is an auto loan at $47,800 and 2.99% 2.45%.
Our gross income is around $170,000 per year. No other debts other than mortgage $157,000 at 4.5%. We live well below our means.
My question is should we pay the minimum on one of the debts and pay the other down aggressively, pay the minimum on both, or pay a little over minimum on both?
I feel like paying off one of the loans aggressively and paying the minimum or close to the minimum on the other then when the first loan is paid off we throw all that money into the other loan and then aggressively pay it off.
I hope thats clear enough! Thanks for any help and advice! Thanks!
edit: Auto rate is actually 2.45%, not 2.99%
Submitted June 13, 2017 at 08:32AM by guns4fun http://ift.tt/2rqLFOR
