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[quote=Anonymous]As other PPs have suggested, don't change your lifestyle at all! Build up your savings. Some priorities: 1. Max out 401ks (ie, pre-tax contributions to retirement) if you aren't already doing so -- with higher HHI, you should definitely take advantage of the tax benefit (check up on this, but I would take the 401K route instaed of IRA, because IRA is post-tax and your HHI is too high to qualify for Roth I think) 2. Build up your emergency fund -- try to have enough to cover 6 months of expenses at least -- As one pp recommended, I would shelve the idea of renovations/new house for now and focus on building up your finances, esp. since you have two young kids 3. Made some additional principal payments on high interest student loan -- I would prioritize the 6.5% loan over the other loan and the car payments, since those are low or 0% interest Congrats and good luck! [/quote]
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