My case study here -
www.mrmoneymustache.com/forum/ask-a-mustachian/case-study-day-late-and-a-dollar-short/I've got a few debts and I've decided to pay them off. The only questions are in what order and how fast to do it. I'll list them in the order that I have currently prioritized them.
$17500 @ 3% - I owe this to my parents and will tackle it immediately.
$12000 @ 2.2% - This is a loan on a car. Yes, it's too fancy, but there are two things my wife won't let me sell - her car, and her saxophone. We do get about 40 mpg in the 6-speed Cruze, so it's not a total waste given that her family lives 75 miles away from us.
$149500 @ 3.75% - My 15 year mortgage. This comes with PMI of around $70 a month, so after the previous two loans are paid I at least want to get rid of the PMI asap.
$5500 @ 0.85% - This is what remains of my student loan debt. This is a variable rate, but in the 10 years that I have carried this debt I've never seen it over 1.75%
$2000 @ 0% - Lawn mower. Ridiculous, yes, but whether I manage to sell the mower or not this one might be at the bottom of my priority list.
I'm split on whether I should keep the student loan and mower loan paying off as slowly as possible and invest that money rather than pay it off at such a low interest rate. On the one hand, get out of debt, on the other, I can get a much better return with Vanguard.
So, do I have my priorities straight? The wife and I are having trouble coming to an agreement on this stuff, so we would like any input we can get.