[Barbara]

If you had $100/month to set aside, where would you put it?
1. Savings
2. Investing (stocks, IRA, etc.)
3. Paying down debt
4. Emergency fund*

I’m curious how other moms think about money goals.

I’ve been reading up on options and trying to be more intentional this year.

[Sherry]

Emergency fund up to $1000 and then debt

[Tiffany]

All the advice I’ve seen and that I agree with says to build an emergency fund first before paying off debt.

The emergency fund precedes any extra debt payoff because you need to make sure you’re not dipping back into credit cards when emergencies come up.

[Lucinda]

We put as much as possible towards debt (after basic bills and funding our retirement). Paid off student loans, cars, and mortgage early.

Big reason why we were able to weather a layoff and (semi)retire early.

[Kimberly]

Paying down debt because your interest charges will keep bringing the debt back up.

[Shelley]

1. I would pay down debt if it was a credit card or car loan (not student loans or mortgage).

2. Then if my employer offered a company match, I would maximize that match. If not match, I’d build an emergency fund.

3. Once emergency fund is at a nice level, id invest in a roth ira for my retirement.

[Author]

Posts