I've posted several times over the last couple of years. Here's my latest ... tell me WWYD?
All credit cards are finally paid off but we still owe 15k in car loans (one is 9k and the other is 6k) and 8k in medical/dental. We have 15k in savings. We literally have no other assets ... sold everything worth anything, rent our residence, cut everything we are willing to, etc.
We end up with a little over 1k per month to put towards savings/debt but one of my jobs will be ending in November and I will almost certainly not be getting another to replace this income. So, at that point we will be more or less breaking even every month.
What would you do now? Keep all the savings or put some of it towards one or both of the debts? They are all similar and fairly low interest of 5 percent and under. My thinking is to to pay off the 6k car, leaving us with 11k which is 3 to 4 months worth of expenses and then using the 1k a month we are currently over every month to pay off the medical leaving us with just the 9k car loan when our income drops. Does that make sense? Is it the best way to go?