SAHM - should I put all the (little) money I have (or part of it)

[Anonymous]

Pay off the car.

[Anonymous]

Agree about putting some of the money into a rainy day fund just in your name. Park it and let it grow untouched.

[Anonymous]

Pay off the car. You will feel a world of difference if you go from having $660 "left" per month to $1,210 and only reduce your savings by a small amount. I would do that, and then sit tight for a few months and then see if you think it is worth refinancing. Totally killing your savings is risky for your family if you can manage (especially with paying off the car). It leaves you with no security.

[Anonymous]

Anonymous wrote:Pay off the car. You will feel a world of difference if you go from having $660 "left" per month to $1,210 and only reduce your savings by a small amount. I would do that, and then sit tight for a few months and then see if you think it is worth refinancing. Totally killing your savings is risky for your family if you can manage (especially with paying off the car). It leaves you with no security.

Totally agree.

Also, if you are in a condo, I think you are better off not refinancing and taking the "wait and see" approach. Are you certain you won't want to move from your condo in the next few years as your kid(s) get older/want more space? If so, don't refinance.