Of course I would pay my car off before my mortgage but the way our car loan is set up, anything extra goes to interest and not principal. So I don't see how it's in our best interest, unless we can pay it off completely early, to pay extra on it each month when we wouldn't be making a dent in the principal balance. That's why the extra goes to the mortgage. I guess we could be putting the $100 a month in a CD or something and then use that in a few years to pay off the car - any opinions?

We paid mostly cash for our last but had to upgrade suddenly due to a "surprise" pregnancy. Our last vechicle couldn't hold four carseats and two adults, so we had to upgrade and didn't have enough cash yet to pay for it completely or even mostly. Once this one is paid for, that money will go into a fund for our next vehicle.

I have read several of his books and honestly, he had no tips that I thought were worth it for us. We already do most of what he said anyway. I simply don't agree with some things he says to do, or see how to do them when you don't have the funds or don't want to see your savings devalued by not adding to it for 5-10 years.

I'd probably put into an ING account until it reached a certain amount and then into a CD and then use it to pay off the car. Just my thoughts....

Yes, there are some of us who just can't do everything. Frustrating, I know....

Honestly, until today, I hadn't thought about putting that extra $100 somewhere else to help pay off the car sooner. I'll have to do the figures and see which is more beneficial in the long run. Thanks for the suggestions and tips!

Could you get a bank loan and payoff the car loan and then apply extra to it that way? I don't know - just trying to think "out of the box".

I Don't Care for Daves Advice too Much either.

Its a bit too Gung Ho For Me.

At this point in my Life , Paying off my Mortgage is NOT a Priority.

If my retirement fund is earning 13% and I have a 6% fixed mortgage, there is no way I'm paying off my mortgage, I'd rather invest that money. Of course, this year we're down some, but I'm in for the long term and will wait it out.

This is what I don't get either .

But Dave also Has a Debt snowball plan where you pay off your Smallest debt first and Not The highest Interest one First.

Also while you are plugging away at that debt - He also Advises you to stop contributing to your 401K until debt is paid.

Most of it doesn't make sense Numerically .,
But I guess it appeals better to people Cause you are seeing quicker results. .


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This is why I think that most young couples are better off investing.

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