EP71 – Should we sell our $18,000 mobile home to get ourselves out of debt?; How old is your paid off car?; How much is your emergency fund?

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Another episode of your social media questions and our thoughts! We have received so many positive comments about these episodes. If you have a question for us please email to

I am getting ready to retire and did not plan ahead. We have two home mortgages. Owe $320.00.00 and 198,000.00. Car payment and two credit cards. No savings but a 401k with 400,000.00 . What is your suggestion to start cutting the debt.

Do you keep your emergency fund in a separate account from a normal savings account?

How old is everyone’s car that’s paid off? How long should a car last or what’s the life expectancy of a car usually?

How much is your fully funded emergency fund? How many months did you choose and why?

So my husband and I are in our mid 20s with 3 children. We currently own our small mobile home that’s probably worth $18,000-$20,000. But we have outgrown it so fast. We’ve barely started baby step 2 but we need a bigger place. What should we do? Suck it up and stay here until we’re done with baby step 2 or sell this mobile home and use money to pay off almost all of our debt and rent ?

If you were going to buy a vehicle that was:
A: Super reliable (not trying to buy another in a year)
B: Not a truck
C: Could tow 2,000-ish lbs
D: Could fit 3 car seats comfortably, as an everyday vehicle
E: Within $4,000

What would you choose? I’m leaning more towards a Honda Odyssey but hubby seems like he wants a truck. Suggestions?

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