As of this past week, my wife and I are on steps 4-6. Now that we are there, we have started putting $2,500/year into our kids' college/university fund and 15% into a retirement fund. After the month is through, we have every purchase tracked into our budget spreadsheet.
I am now trying to figure out what the best approach is for putting money into savings and paying off my mortgage principle. Should I:
Pre-plan how much money goes into my savings each month as a set amount and then put any remaining money at the end of the month into mortgage principle?
Do the same thing as Option 1 but in reverse (set amount into mortgage, then remaining margin into savings)?
Not have a set dollar amount for either but divide by percentage instead? 50/50, 70/30, etc?
Something else that I haven't considered?