Currently have A personal loan - 15.1k - 3yr 2% loan (was told its a bridge loan and will refinance it after 3 years thru a credit union) Wife's student loan - 10.5k @ 7.5% - 10 years ~30k in federal with a variety interest rates but $300 a month starting in September but if I pay one loan off the price of the loan goes down. ~30k private loan - 5.5% - 25 years
E fund/savings account - 19k
The federal loan is a bit of 3k, 6k, 10k, etc split up.
We have two old, aging vehicles that have 175k miles 2006 (mine), 135k miles 2013 (hers) that we both definitely need (no selling vehicles for something cheaper)
She's going back to school full time this fall and will only work a little on weekends so I will need to support her.
My question is: do I use the savings account to pay off any of the loans knowing I probably won't be able to save much to replace it? Considering we are trying to buy a house and were using that money to save and use that and use as a e fund.
original posted by sirspike345 to r/personalfinance on Sat, 13 Apr 2024 15:50:21 GMT.