Originally Posted by pilotbob
Well, you still have the credit cards if there is an emergency right. Seems silly to me to be saving while you are paying 12% or more on a CC.
Ah... but I can guarantee you that for every $ extra of principal you pay off you will get 5% (if that is your rate). How much did you make in the stock market in 2008? Many LOST money. In 2008 I made 6.7ish% on the about 8k-10k extra I paid on my mortgage. And, because the balance is lower each month I can't put extra payment for some reason, since the principal is lower more of the payment is applied to the principal... more snowball effect.
For the first part, you're right. It depends on what someone feel more comfortable with.
With the stock market, I'm viewing in long term (decades). Lets not talk about this year...