Wondering if you can take a look and help me out. I’ve done Baby Steps out of order, for various reasons emphasis had to put on building up savings, etc.
Baby Step 1 – DONE
Baby Step 2 – paid off all credit card and auto loans. Still have
Student Loan #1 $18,787.24 @ 3.25% = $126.95/mo
Student Loan #2 $22,863.94 @ 3.25% = $151.63/mo
DH’s alimony = $816/mo until 9/1/18 – can’t really pay this off EARLY, so it will just be here until then from what I gather… unless we offer some kind of settlement, etc, at some point.
Baby Step 3 – DONE
Baby Step 4 – We are only contributing 5% of dh’s income to 401K because employer does full match on that. Nothing on my income from my PT job or my self-employment income. I am very worried because dh is 61 and time is not on our side.
Baby Step 5 – haven’t started, and I have six kids. Am hoping to be able to at least pay for their books.
Baby Step 6 – have main residence mortgage, rental property mortgage, and a huge no interest loan from dh’s former life… he had to “short sale” his house, but signed a 0% interest note on the remaining $65k balance (is now approx. $57k)
Baby Step 7 – I wish.
When I sit and look… it helps that the EF is done… but I still feel conflicted between BS2, BS4, and building up some sinking funds for auto replacement and household maintenance that need to be higher.
What would you do in my position?