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So our family relocated and just sold our house. We are coming away with about 38K and are happy renting for a little bit. We don't really have savings as we have spent the years getting out of major debt, so this would be a 1st if we decide to keep any of it. We have become very disciplined and now have our credit cards for emergency or only when able to pay off in full. (about 102K clear and available between us this is now our emergency funds) In our new location and positions we should be able to begin saving about $500-$750 a month depending on our kids needs. Through work we get a percentage taken out which is matched for our 401k retirement. We are lucky, been real disciplined and have worked hard to get out of major debt and poor credit scores over the past 8 years (went from 500's to now 800) even as we had a couple kids.

We only have 4 debts left and are wondering if we should pay any, most of them off or keep all or some of the cash? We have 3K at 5.5% in credit cards from getting the house ready to sell, 19.5K at 6.5% in one student loan of which we pay $201 a month, another student loan with $9,500 at 5.25% left, which we pay $209 a month and our car with $9,900 left at 5.03% paying $260 a month. The student loan that's 19.5K pisses me off because it isn't scheduled to be done until 2034 and I will have paid more than 11K in interest. I keep going back and forth and wonder if that's the best one to finish off or if I pay off the 2 $9,000 ones, or keep the money and just pay extra each month on all of them (but interest would accumulate).

Thank you in advance!



Submitted October 19, 2021 at 09:31AM by baileybus https://ift.tt/3B0nBG9

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