<prompt> Human: So after discovering the concept of financial independence Ive wanted to put a bigger effort into living more within our means and saving more. There are so many choices to make and Im going round in circles trying to figure it out. What should we be doing? Paying off more of our student loan, adding to savings to invest in index funds? A bit of both?Me 25M, 67,000 pa salary, 45,000 student loanHer 25F, 63,000 pa salary, 28,000 student loanWe both have student loans currently at 4.4 interest rate. I am paying 500 per month, my partner pays 300 per month. At this rate itll take us about 9 years to pay them off. We also have a 45,000 mortgage at 4.19 for some land we were going to build on. Plans changed but we still have the land to pay for unfortunately. Its worth 90,000 and have 2.5 years left on it paying 1,800 per month. Total position is something like:-73,000 in student loans-45,000 in mortgage23,000 in cash30,000 in retirement accountsMonthly income 8,400 spending 5,400 including food, rent, utilities, student loan debt, mortgage, transport. We save an additional 1,400 per month and the rest we have for discretionary spending. Anything not spent is put into a savings account. There is so much information in starting to second guess everything and my partner thinks Im obsessed...what does personal finance think is the sensible option?  <response>: What should we be doing? Paying off more of our student loan, adding to savings to invest in index funds? A bit of both?Yes. All of the above if possible. But lets break it down. Me 25M, 67,000 pa salary, 45,000 student loan Her 25F, 63,000 pa salary, 28,000 student loanGood so far. Total income is 130K, total debt is 73K. Very manageable. Total position is something like: -73,000 in student loans -45,000 in mortgage 23,000 in cash 30,000 in retirement accountsSeems like a high amount of cash to have. You really only want 3-6 months of expenses. The rest should be going towards your debts. Since your interest rates are pretty low itll be up to you how you want to tackle them. A general rule is any debt less than 3 should be handled by paying the minimum balance since youre likely to see better returns in the market. when its the 3-5 range it comes down to the individual. Anything above 5 should most likely be handled before you invest. Since you both have good incomes you could either work more aggressively to take down your student loans first since the interest is highest andor increase your investments by adding more to your 401k or opening IRAs and funding those to help with retirement. We save an additional 1,400 per month and the rest we have for discretionary spending. Anything not spent is put into a savings account. That money needs to be going towards your debts. You have enough in savings.Read the PRIME DIRECTIVE - This will walk you through how to allocate your money.Also, rrelationships could be involved to make sure you and your SO are on the page financially. Some people are spenders and others are savers. Its important to know who youre involved with and the lifestyles they want and temper that with whats realistically achievable. Monthly income 8,400 spending 5,400 including food, rent, utilities, student loan debt, mortgage, transportUse YNAB or Mint to get a good idea of your cash flows and come up with a reasonable budget that works for both of you. Also, check out Personal Capital to see how your money can grow and how your investments are working for you and what they could do in the future. There is so much information in starting to second guess everything and my partner thinks Im obsessed...what does personal finance think is the sensible option?Taking control of your financial situation is a good thing. But dont let it consume you. Again rrelationships can help maybe more than PF. But going over your plans and goals and all your finances together could definitely help build a strong relationship. My SO and I do this weekly. It helps us focus on what we have, what we want, when well get it, and what we can do moreless of along the way. 