ang_wutz
HI,
I'm looking for some opinions on how to manage some cash. We are in the process of selling our current home and moving to a larger house. We should get enough equity out of our current house for 20% down in our next house. We have two car loans 15K @ 6.5% and 25K @ 4%. We fully fund our 401Ks, IRAs, and an ESPP. We have an 25K ER fund. We have 28K in cash sitting in a money market account @~4% and are arguing over how to best utilize the money.
I think we should pay off the 6.5% car loan and invest the remainder.
My husband thinks we should invest some and keep about half on hand for housing costs. (He is definitely the more conservative saver/hoarder in the couple!)
We did have a bad experience in our last housing purchase - we showed up with the moving truck to find 6" of water in the basement, so we had a huge unexpected expense.
We would appreciate some outside input! TIA
I'm looking for some opinions on how to manage some cash. We are in the process of selling our current home and moving to a larger house. We should get enough equity out of our current house for 20% down in our next house. We have two car loans 15K @ 6.5% and 25K @ 4%. We fully fund our 401Ks, IRAs, and an ESPP. We have an 25K ER fund. We have 28K in cash sitting in a money market account @~4% and are arguing over how to best utilize the money.
I think we should pay off the 6.5% car loan and invest the remainder.
My husband thinks we should invest some and keep about half on hand for housing costs. (He is definitely the more conservative saver/hoarder in the couple!)
We did have a bad experience in our last housing purchase - we showed up with the moving truck to find 6" of water in the basement, so we had a huge unexpected expense.
We would appreciate some outside input! TIA