In appreciation of high performance I recently received a modest raise - it comes to about $1250 a month, plus an even more modest bonus. Although the raise is not large, it will make a very big dent in our family's ongoing deficit - primarily due to maintaining an unneeded second household.
I paid down our HELOC, which substantially cut the required monthly payment, however, we continue to make the old payment to drive down the principal further.
Next big ideas on our minds:
1. Refinance mortages - doesn't seem like rates are at the right point to make a big enough difference.
2. Consider shifting second house to interest only - does it make sense?
3. Modify lease for wife's car - it has expired and I've renewed month to month. Need to evaluate my options. Any ideas?