Reply to Single parent in need of debt management/savings advice

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]

Our budget:
Rent: $2850/mo in the district (This is high. We are here bc it is walking distance to DD's nanny who doesn't drive, close to my social support system, and in bounds for an excellent public school).
Nanny: $2400/mo (This is also high. I can't use traditional daycare due to my hospital hours which are often evening, overnights, early mornings. I pay her $15/hr for 40 hrs/week). 
Student loan: $1100/mo
Comcast: $100/mo (cable and internet; I could probably cut cable)
Cell: $107/m0
Car insurance: $171/mo
Pepco: $75/mo
Groceries, entertainment, travel, gas: About $800/mo
Total: $7603/mo. 
  [/quote]
Do you make a lot of calls on your cell? I switched to a tracfone and now I pay $20 per month
Get a satellite antenna and then you will not need to buy cable
Pay off your student loan. You do not want to have this when you retire. 
When your kid is older, consider getting an au pair
Car insurance should not be that much, mine is a lot cheaper

I would pay less towards the kids college savings. Your kid might get scholarships, go to state college etc. And you can always borrow for college, but to borrow for retirement is more difficult.
Just get rid of the student loan even if it means less savings for retirement

For entertainment, buy movie tickets from costco[/quote]

Why the focus on such a low rate loan? Over retirement?[/quote]

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