Reply to New life as single mom- how to optimize/will I be ok?

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[quote=Anonymous][quote=Anonymous]Newly single mom, two kids under 6yo. 34 years old.

Money:
Salary $135k (net $8k per month)
Retirement $80k (was making only 80k until this year)
House $100-120k equity
College savings $5k
Equity award in company that should be worth at least $100k but hopefully more, two more years til fully vested

Monthly Bills:
$2600 mortgage, taxes, home insurance, utilities
$1650 daycare (7 more months)
$600 groceries + house items
$350 misc kids activities/needs
$150 car insurace + gas
$150 phone/internet
$150 dog food + meds

Debt:
$230k left on mortgage

Bigger looming expenses:
My oven is original from the 1960s, fridge and dishwasher from the 90s
Dryer is also from the 90s
Bathroom needs updated at some point, suspect mold/mildew remediation needed behind the wall

Bigger expenses already handled:
Car paid off this year, less than 10 years old, low miles
New roof, siding, gutters last year
Moved to tankless water heater / new furnace two years ago

I know that I need to focus on retirement first then college second. I don't believe it's realistic I can fully fund college for two kids. Any other specific advice? Should I make extra mortgage payments to pay down faster or is that money better put in retirement if my mortgage rate is 3%? The end in sight for daycare feels hopeful too. Where is it best to build an emergency fund- in a HYSA? Trying to educate myself, have been following this forum for a while.

-Child of two city workers who only taught me that money goes in a savings account and a pension will cover retirement (I don't have a pension). [/quote]

Did your husband die or do you mean “divorced mom?”[/quote]

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