Hi!
Here’s my situation:
I make 50K/year, and have a mortgage of about $120K still owed, and a car loan of about $4,600 at 2.9% still owed. No other debt. I have a 401K that is, at this moment earning me %16.5 in interest. I contribute 19% of my paycheck to it every two weeks.
Should I start putting surplus money from my paycheck into savings for an emergency fund (I don’t have one yet), or pay off the car loan, or increase my 401K contribution in a big way?
Thanks so much for your help!
-Monique