Hi! I'm new. Found MMM last night, and stayed up half the night reading. We are literally in the middle of moving and making big changes to our life/finances, pulling out of here in two days.
But, I have an immediate and quick question. We currently have a private mortgage on our property at 10% interest (funky monkey backwoods home doesn't qualify for conventional financing), and have been paying about $120/mo extra on it to pay it off faster. ($600/mo vs $480, we owe about $45k on it) We have a lot of high-interest debt right now (higher than 10% for sure), and are trying to dig out. I'm coming up with lots of ideas, but my immediate thing I can see to do, is halt the extra money on the mtg and putting it towards the credit card debt. Is that the right idea?
Once I'm back home and have re-assessed our plan in light of MMM principles, I will probably post a full case-study.
Thanks!