Ok, so here it is, right on the table. This is my debt.

House: $105,514.10 @ 6.85% (3/1 ARM set to change Jan. 08)

Car: $13,096.56 @ 5.5% (the balance includes the interest, because I don't have an up to date balance on the car itself. This is set to mature October 2010 if I make the minimum payment)

Chase MC: $6629.17 @ 0% (0% set to expire soon, do not know the date)

Amex Blue: $703.29 @ 13.24%

I have an extra $200/month to put toward debt. I am going to make the minimum payment on each debt, and tack on that extra $200 to the lowest debt (Amex), and once that is paid off, tack on the minimum payment + $200 to the next highest debt, Chase, etc. etc.

The minimum payment for Amex is $15. In August I will pay $215 on it. By paying $215 a month, it should be paid off in November.

Then I'll take that $215 and tack it onto the $120/min a month I pay on Chase and make it $335. If I make a $1000 payment every March, when I get my tax return, I can have Chase paid off in March of 2009, and my car paid off by January of 2010 (9 months early). Once that is paid off, it'll all go to the house. My super big goal is to pay off the house by the end of 2017, but we also plan on doing some serious renovations in the next 3 years, so that may get extended.

Listed below are my goals for remaining balances I'd like to make at certain milestones:

8/2007: $505 Amex
9/2007: $305 Amex
10/2007: $105 Amex
11/2007: $0 Amex, $6270 Chase
12/2007: $5950 Chase
1/2008: $5630 Chase
2/2008: $5310 Chase
3/2008: $3990 Chase
2/2009: $470 Chase
3/2009: $0 Chase, $6022.96 Car
12/2009: $342.34 Car
1/2010: $0 Car

Then begin applying at least $631.18 additional principal to the mortgage monthly, as well as $1000/yr from my income taxes. Let's say out of an average mortgage payment, $200 goes to principal (and I realize that down the road more will go to the principal). So with my payment I would be giving $831.18 to principal, plus an additional $1000/yr, making it $10,974.16 starting in 2010. By then I imagine my mortgage balance will be maybe $95,000. If my balance were $95k, and I paid $10,974.16 a year into principal only, I calculate that there will be 8.6 years left to pay off, making it 2018. But! Remember that the distribution of my payment will be different through the years, making it less interest, more principal, and in the next 3 years, even if I get no promotions, I stand to get an additional $3-4/hr, with raises coming about every 4-6 months. After taxes this is about an additional $4000-$5000/yr in my pocket, which isn't too shabby.