Reply to Help me

Forum Index » Money and Finances

Reply to "Help me"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Congrats on the baby and on taking the time to plan.

I would NOT pay off the student loan in one fell swoop, as the 20K can be tapped for emergencies and likely provides some emotional security as well. Are you happy enough in your job and feel like you have enough job security to stay for a bit? Will you have to take any unpaid leave when the baby comes?

I would focus on looking for a new home now, before the baby arrives, if that is possible. Try first-time buyer programs, not sure if 100% loans are still available, but look into the financing. Buy the smallest home you can afford in a location you like, and make sure you are happy enough if you had to stay there a long time - sometimes life happens this way.

Once the baby arrives, make a will. Start to build a college fund, even if it's just $25 a month at first.

FWIW, looking at the long term since you mention private school,  please know that it will not be easy financially as a single parent (or any parent) having financial aid from school. They may give you a significant award but you will also have to contribute until it hurts. (And no, they won't make you take money out of the college fund.) BTDT.

Good luck![/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics