<prompt> Human: Ok, first off, this is a throwaway because if I used my usual account, someone may be able to figure out who I am, so, here we go:I am just finishing my medical residency and moving to a place no state income tax, medium cost of living, and kind of expensive housing rental market.Particulars:Father of 4 with a stay at home wife, who home schools, and a dog. 6 humans, 1 dog.Liabilities:CC debt:15000Family debt 5k.Student loan debt: almost 400k, currently in IBR 0 due a month due to my income being so low right now Some grad plus loans I think the plus stands for plus extra interest are at 8.5, some others are 7.9 , and a the rest are mostly 6.5 The mix between them all is 60 at the lower interest and the rest at 8. I also have about 10 k in some OLD loans at 2.9. If I renew my IRB yearly, they are forgiven in 25 years, and I will be taxed on that amount as income. I wouldnt likely be paying more than a couple grand a month years down the road based on my income and family size. Standard repayment is 50k a year x 10 years. I want to pay these loans Assets: I own my cars and am starting a new job in a place I love, making not as much as I would like, but with Large upside potential:Starting Salary is just over 70k a year, plus bonuses that may be as high as 30-40k first year, up to 140k a year after a couple years dispersed in quarterly segments, which start small and increase throughout the year, which for me starts in July. I am also responsible for health insurance for my family which during year 1, will be able to buy on the health exchange and be paying premiums around 600 a month with tax credits. This tax credit will disappear as I start producing a lot more income. My employer pays all my professional expenses, and half my disability insurance personal disability. I wont have any matching as far as 401k goes. I do have a ROTH IRA at a whopping 1k.Now more particulars:We will be living with In laws for a couple of months, but will need to get out due to needing more room, and some of the family that comes by that house is not a good influence on my kids, and I want to limit their exposure to that environment. During that time, we should be able to save up maybe 10K or so for down payment on a house we are pre approved for a 250k house at around 4.3 with 3.5 down, AKA doctors loanWe are planning on living in the new area for many years, 20-30, so we are planning on paying off a house we live in. Rental rates for a house in the area are pretty high, around 1600-2000 a month, and a house payment would be between 1000-1600 a month, depending on what we buy. We are pretty set on buying a house. Budgeting year 1:6k a month5500 after tax2000 housing and associated costs400 utilities, etc.300 car insurance, life and homeowners1000 on credit cards family debt600 health insurance400 savings100 roth IRA650 food toiletries50 gymBonuses-first bonuses would be to 10k emergency fund, then credit cards, then student loans. We want a boat, but I think we may need to just rent one a couple times a year if we are going to do that type of thing. As bonuses go, they should get bigger throughout the year, with a big one coming each April and July. So, now my question. What should I pay off first? Goals:Own a homePay off DebtsHave something to retire onOwn some land and someday build a dream home not big, but nice.Go on 5-10k vaca once every couple of yearsBuy in at the practice, about 160k in 3-5 years. Maybe help with college for the kids, though state school is VERY reasonable where I am moving. Thanks in advance for your advice.EDIT:FormatEdit2: clarifcation on income. 70k is the base. I expect bonus my first year around 40k, so about 110 first year. From there, it will increase annually, and could be as high as 140 by year 2 or 3, in addition to the 70 base. I apologize if the words boat and vacation are triggers on this sub, I really want to emphasize that we dont live or plan to live outside of the base pay that I will be bringing home, and the bonuses will almost entirely go toward debt. Also, with regard to renting, If I am going to be paying more in rent a month, and even more taxes when I start really ramping up, why is buying a modest, under the median home price house a bad idea? By renting, I would be putting LESS money toward debt...Anyway, thanks everyone for slapping me around a bit, I do actually appreciate your advice...Edit 3: WOW, this thing blew up! I cant believe how much perspective this has given my wife and I. I am getting into hardcore financial mode. I feel like I have ignored it a long time, mostly out of fear. My long overdue wake up call was today. I appreciate all the resources you guys have pointed out, I am going to get mideval on this debt. I will let you know in few years how its going!  <response>: I am also a physician, I graduated with less than 12 of the debt you have, and had no kids. I can tell you I would never have even considered purchasing a home with that much debt. Here is a rough outline of what you need to do: 1. Read The White Coat Investor and The Millionaire Next Door2. Start looking for moonlighting opportunities after you graduate. Your income is on the low end of what a physician typically earns, even with bonuses. You should be able to find a moonlighting job to make an extra 2K a month minimum. 3. Use moonlighting money to pay off CC debt, and chip away at student loans. Do this for at least two years. 4. Make home ownership a five year goal. I think this is probably overly optimistic, but could be done if you can manage to save well. Right now you simply cannot afford the large unanticipated expenses that come with home ownership.You have four kids and a spouse that doesnt work. That means you have to work a lot, at least if you want to at any point in time dig yourself out of debt and save for retirement. If your full time job has you too busy to moonlight, then you are really getting hosed on your salary and I would consider looking for other opportunities. 