Almost out of credit card debt

[hehateme000]

Hey guys, its been a while since I posted here. I am still sticking to a budget, and by Tax time we should have all credit cards paid off. I will still have school loans and 2 car loans. But it will free up a lot of disposable income

I don't want to make this too complex. By February, with the help of school grants and taxes, our situation will look like this:

Savings:
$6,000 - Savings
$5,000 - 401K

$11,000 - Total Savings

Debt:
$33,000 - My Student Loans (mixed between 3.5% - 6.8%)
$20,000 - Car 1 (11%)
$25,000 - Car 2 (10%)
$2,400 - Old court restitution (0%)
$2000 - Fiance Student Loans (6.5%)

$72,400 - Total Debt

Starting in March, our extra income after all bills, food, gas, etc. will be the following:

800 - March
1900 - April
750 - May
850 - June
2500 - July
750 - August
1550 - September
750 - October
750 - November
2300 - December

12900 - Total

I want to know how much should I use to save even more, put in 401k, save for vacations, put towards my 2 boys (3 and 2), and pay toward debt?

[disneysteve]

$20,000 - Car 1 (11%)
$25,000 - Car 2 (10%)

I want to know how much should I use to save even more, put in 401k, save for vacations, put towards my 2 boys (3 and 2), and pay toward debt?

I think your car loans are insane. I would make getting rid of those your first priority. How much are the cars currently worth? I would seriously be looking to sell both of them and replace them with more affordable vehicles. They account for 62% of your debt. Not only that, but the interest rates are nuts. Downsize to a couple of cars in the $5,000-$10,000 range tops and your situation gets drastically better very quickly.

[WillieGearhart]

You need to manage your expenses, yes, your car taxes are high. You are paying this for 11%, so you should focus on this first.

[Green43]

It is wonderful you are investing in your retirement keep it up and only add to it. Having said that you need to forget it exists from the savings perspective. The amount of penalty involved with taking anything out is prohibitive and counter productive to its intended purpose. This is important as if it is viewed as savings at some point something will come along to require its usage and you will be able to talk yourself into using it. Not trying to be critical, just talking from experience, the forty something you will thank you some day.