Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How's your emergency savings?
If you have 6-9 months of expenses saved, plow the extra money into paying off the cars.

"Plow" really?
Why not just say, "put the money"?

At least she didn't suggest raping the cars...

You two are unaware of the non-sexual use of the word "plow"?

Rape person was clearly being sarcastic.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How's your emergency savings?
If you have 6-9 months of expenses saved, plow the extra money into paying off the cars.

"Plow" really?
Why not just say, "put the money"?

At least she didn't suggest raping the cars...

You two are unaware of the non-sexual use of the word "plow"?

Anonymous wrote:donate some of it. many people live on less than $3000 a month.

Stupidest idea ever.

donate some of it. many people live on less than $3000 a month.

Have a 9 month emergency fund. Six months is never enough because it takes a long time to find another job in this economy.

How are you maxing kids college funds? Is there a maximum you can put in there? Save for your children's weddings or buy some stocks.

I would invest it toward a house or save for a downpayment if you do not own one yet.
Pay it forward. Invest in the schools, arts, whatever you like....find a cause and donate to it.

Anonymous wrote:

Anonymous wrote:How's your emergency savings?
If you have 6-9 months of expenses saved, plow the extra money into paying off the cars.

"Plow" really?
Why not just say, "put the money"?

At least she didn't suggest raping the cars...

Anonymous wrote:

Anonymous wrote:How's your emergency savings?
If you have 6-9 months of expenses saved, plow the extra money into paying off the cars.

"Plow" really?
Why not just say, "put the money"?

Just shut up and go get more coffee. Clearly you need some.

Anonymous wrote:How's your emergency savings?
If you have 6-9 months of expenses saved, plow the extra money into paying off the cars.

"Plow" really?
Why not just say, "put the money"?

What are your top 3 financial goals? What is the household income? How old are you? How much do you save a year for retirement (including employer matches) and college? Do you have an emergency fund and short term savings fund?

If your income is less than 100K, you may want to hold back on college savings, as you're more likely to get money for college than if your income is higher.

If you have no savings, I would not add more to retirement savings (and would not pay off the cars) until you build that up.

Why not just continue - deposit it in a separate account. You might find you have expenses you didn't have before. Husband's new job may mean he helps out less at home. You might need cleaning help, childcare help. You might want to visit your family. Ease into decisions. There may be ways to make your life easier.

Lease a S class Mercedes.

Since you don't own a house, and you'll need a mortgage deduction now that your income is much higher, I'd put some of it towards a downpayment fund for a house.

I'd pay off the cars, fully fund your emergency fund, then start saving for a house. Keep the retirement and college savings going as well.