Thanks for some feedback. Wanted to answer your questions to provide more info.
I would do some increased amount of savings/hedging on the employment front if you are both with the same employer. How secure do you feel that situation is?
We both work for a state university. Feel secure in terms of my pension and as with any type of mutual fund (since husband did instead of pension, it has its risks). Overall, though, job security is good.
I see no trash service on your list of bills? no car insurance?
Trash is with water and sewer. Car insurance paid twice a year but we just use the monthly leftover $ to do that.
You put 40% down on the car and now owe 1/2? What happened to the other 10%? I'd probably pay that car sale income down on the car note.
Nothing happened to the 10%. I should have said we still owe more than half!
At 5%, our ammoritization table shows $800ish total paid interest. In my heart, I want this car paid off first. In my mind, I wonder if I would earn more sticking extra money elsewhere where it can grow interest? Don't know...
Sounds as if you have a nice income. Do either one of you have student loans that aren't in this list?
No student loans or cc debt. Income may sound good, but given that we have graduate degrees, pay is not great compared to private industry.
Edited to answer: By the way, where is that "leftover" $655 going currently? We usually put about $300 of it into ING. I do like to have some $ sitting in my checking for safety.