Hi all, I've been reading personal finance for awhile now, but this is my first post. My husband and I have spent the last several years in school and are finally back to "adult" paychecks, however we're having trouble figuring out what, exactly, we should do with them. My question is about how we should divide the income we have leftover after paying for bills. Below is a little more about our situation.
Total monthly income ~$6100 Living expenses (rent, electric, Internet, etc.) ~$2500
That leaves us about $3600 to divide between various other accounts. We also have about $50k in student loans with 5% interest. I am still currently enrolled in my masters so I've only been paying the monthly interest that has accrued, however my husband graduated this summer so we will soon have to begin making monthly payments on his at $430. We also each have a Roth IRA and recently opened up 403b's as well (we're both teachers so no 401k option). We have $10k in the bank for emergencies.
So, how much of that $3600 do you think should go into repaying student loans vs our various retirement accounts vs saving for a home (hopefully within the next 5 years)? Right now it just seems like we have a lot of goals and no real direction. Thanks in advance for your help!
Submitted October 07, 2017 at 11:02AM by bkfish88 http://ift.tt/2y09ZOQ
