@Prairie Practicality - I think PMI (well, at least the way it works) is the stupidest invention ever. Last time I pulled my credit score, it was 813. Yet I pay that ridiculous $109/month (it was actually lower -- $70/month -- before I refinanced, but whatever...the refi is still saving me money). Meanwhile, the dude with the 620 credit score who happened to inherit $15k from his grandma (or whatever) doesn't pay any PMI, even though he's more likely to default on his loan. But, I digress. Yes, it's $1300/year. It goes away when you get 20% equity, though. So depending on what my house appraised for, I need somewhere around $32-33k in equity in the house. Right now I have about $13-15k.
So we have 3 votes for PMI, one vote for student loans. I've been leaning toward PMI, even though that means keeping the car loan around (the student loans, while a debt, don't "bother" me as much per se...not sure why...the car loan disgusts me, but again...it was a compromise...my marriage means more than a car loan @ 2.5%:-)).
Yes, I know that eating out needs to be cut down (we just had a baby in February...we precooked as much as we could, but sometimes when your wife is 9 months pregnant w/a 2 year old running around, dinner just doesn't get done). Our savings rate this year is 22.06%. January we spent $50 eating out. February it was $150. It should return more to the $50 level. The charity is rather non-negotiable. I know that's controversial, but we've already cut back on it. So yes, eating out has to decrease. Coffee has to go (it's down from $80/month last year already). Cable is gone as of next week.
What should I do w/retirement savings? Like I said, right now I have 6% going to a 401k (it was 11%...just changed it last week to free up money to pay off these debts). I kept it at 6% to keep the full 3% match. Should I go lower until PMI is gone? I hate throwing away free money. I also just started putting $85/month toward an employee stock purchase program. The company matches 25% of what I put in (so that $85/month becomes $106 invested). Should I can that for now? Basically, how much of my investment resources should I be reallocating toward pay down of mortgage, student loans, and car loans?
Thanks for the help!