Can we afford our lifestyle?

Answers:1   |   LastUpdateAt:2012-09-25 04:22:04  

Question
helpme
Asked at 2012-08-20 02:26:27
We are in our mid 30's . Our house is paid off, we headed 10 year old car , and have 40k in student loans.We 4k bring home a month and save half . We ate out 2-3 days a week and go cruise or resort stays at least once a year . We go to the movies 3 times a month with popcorn , candy and drinks. We take weekend breaks every 2-3 months. We have 2 years of expenses saved . With the way the economy is right now we only spend money on things that need to be authorized to continue living life like us . Should we pay off student loans quickly ? (4.87 % at 20 years ) ( We have no children or any other debt . ) MedlinePlus MedlinePlus We're saving 2k per month . This is for retirement and savings accounts for new vehicles . As we already have a good EF we stop putting money there. Once you 've saved for new cars that will save you up to the next thing , whatever it is . MedlinePlus MedlinePlus We both have retirement plans at work also . MedlinePlus MedlinePlus MedlinePlus We have two years of living expenses saved. That is, if we both lost our jobs that would be fine for at least 2 years. We are saving the extra 2k for one month period . We are not using any of this money for any of our monthly bills , additional holiday . This goes into a savings account for retirement using retirement account and savings for new vehicles . The other 2k pay for household items , gas , utilities , cable , internet , phone , car / life / home ins . , Movies , food ( home and away ) , weekend getaways , cruises and / or annual holidays. MedlinePlus MedlinePlus Can we afford our lifestyle ? Why or why not ?
Answer1nitinAnswered at 2012-09-25 04:22:04
You seem to be in good shape , but I would concentrate on paying your student loans before anything else . Whenever their cars are in good mechanical condition , there is no reason to get new ones.
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