Finances- What would you do?
I was doing alright financially until I stopped receiving child support payments. Most of what I was receiving I was putting into savings, so I didn't realize until now how much I relied on them. I have two loans: one is an auto loan, the other is a savings secured loan. The total monthly payments I make to these loans comes to $274 a month. Also, I have to carry full coverage insurance on the vehicle, which is about $50 more than if I had minimum coverage. Where I am at right now, I was saving money for a house, but without receiving monthly child support, I have nothing at the end of the month to put towards savings anymore. I have enough in savings to pay off both of these loans. On one hand, it would wipe out my savings, but on the other, I would have an extra $325 a month that I could put towards savings and if I later found a house to buy, I would then be able to afford the mortgage payment. I don't know what to do... I have been looking for a house for a long time, but either way seems kind of hopeless. I don't want to see my savings washed away, but it's basically useless if I can't afford a mortgage payment. Maybe I have a sentimental attachment to my savings.. I don't know.
Hair Type: 3a/3b