Photo courtesy of Dave Ramsey
So the hubbs and I started casually talking about our debt. We don't have car or credit card payments. We do have a mortgage (and a small 2nd we got to fix up our house) and the hubbs' student loans. After tonight's discussion we (meaning hubbs) figured we would be debt free in 2025 at the rate we're going. Currently we're paying an extra $50/month on the second and it will be paid off in 3-4 years. Next will be the student loans and we will be "snow-balling" it as Dave Ramsey says. Which means when we pay off the 2nd we will then put ALL of that money every month towards the student loans, so almost doubling the monthly payment in our case. Then once that is paid off, we will snowball all of that into our 1st mortgage which ends up being about double. We will then be able to pay off our 1st in 5 yrs!!!
If you're not familiar with Dave Ramsey and want to get a better handle on your finances I highly recommend you buy a used copy or get one of his many books from the library :)
Also, if you're having trouble keeping a budget I can send you a free copy of one my brother (he's a banker) created in Microsoft Excel. It's really easy and doesn't require much :) Post in the comments with your email address and I'll be happy to send it along