We refinanced our variable rate student loan to a 15 year fixed rate loan. This saves us time and money, to the tune of $5000 in saved interest costs and 1 year of saved payments. We discuss when it makes sense to refinance and save the difference.
Category Archives: Debt
Finance: ARM interest template
We share a downloadable Adjustable rate / Variable rate template to see the impact of higher interest rates, higher payments, and longer term on paying off our house mortgage.
Finance: A good loan interest calculator
We found a good total loan interest calculator that is easy to use. We walk through our own personal example of how much we save from extra payments on our student loans.
Why we’re reducing use of our SoFi credit card
Why we’re moving away from SoFi credit card, after recommending it for so long.
Money streams and money lakes
We introduce the concept of money streams, emergency savings lakes, debt lakes, and the stock / flow analysis on how much to keep in your emergency savings lake, and how much to spend on your debt lake.
Apple Card review
A short review on the benefits of an Apple Card.
How to minimize lifetime interest payments
How to make extra payments to reduce heavy lifetime total interest paid
How $2000 saved us $6000
How $2000 pre-paid towards our student loans save us more than $6000 in lifetime interest
Variable mortgages will hit many countries hard
Variable rate mortgages will have a widespread impact on countries as diverse as Finland, Canada, Australia, and UK.
Variable rate student loans will cause future problems
A recent check of our variable rate student loans shows our interest climbing to dangerous levels, levels where the payment is insufficient to cover interest. What are our options?
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