So I have been going through my budget for the year. And I have decided to take aggressive steps in cutting back on debt. I have very little credit-card debt, which is a good thing since that stuff has relatively high interest (somewhat over 10%). So I'm not worried about that. Then I have two large mortages (well, one is largish, the other is smaller) with 25-years repayment-plans. Aggressively tackling those now isn't really necessary, especially since they have the lowest interests in my debt-repertoire, (about 4.75%). But I still have some student-loan with relatively high interest (IIRC, about 5%) and a bit higher amount of loan that was used to buy our car. That has interest of 4.95%.

So I made an aggressive plan to repay both of those by the end of the year. And that's quite a bit of money. But replaying those loans helps quite a bit in my monthly expenses, and after that I can start making some extra payments towards repaying our mortages (repaying the mortages has less short-term benefits, but it helps in the long-term). Repaying those would be a multi-year tasks, but I have to start sometime. I didn't plan to wait 25 years for them to get repaid. And with no more student-loan and car-debt, I have a lot more flexibility in handling those larger debts.

I still hope to win in the lottery though....

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