<prompt> Human: My wife and I just had our second child last month. She isnt going to be working for a few months, and I just need some advice with where to put any access funds we have after paying bills. When she does start working again, she will be working part time making only about 300 per month.The following information is our household income without my wife contributing financially. Monthly income after taxes, insurance, and 5 TSP contribution: 3350Mortgage: 1178Wal-mart: includes groceries and other items 600Student Loan: 7 loans 38k balance 5.5 average 450Utilities: Gas, Water, Electric 250Fuel: 200Cell Phones: 150Car Insurance: 90Fast Food: 60Internet: 45Pet food and medicine: 45Garbage pickup: 25Entertainment: 20That leaves us with about 220 extra per month. We have about 14,000 in our emergency fund.Should we: A Put the money towards my student loans. B Put more into the emergency fund. C Put money into a college fund for the kids. D Save more for retirement.We both also have very old cars that are nearing 200k miles on one and 150k on the other, but are fully paid off. I know adding a large monthly car payment on top of this is not ideal, but should we be driving those cars until it becomes to expensive to repair them? Should we be putting that money into a car fund for when one of the vehicles inevitably gives out?  <response>: Pour the money into your loans. It is a guaranteed return. Any money going to retirementcollege is not going to make up for your debt. Keep the eye out for a used vehicle but car loans are still low interest and your savings is ok. Also keep on mind the increase in insurance with any newer vehicle.Make a food budget! If that Walmart bill was 34 food that is 15 a day not including fast food. Cellphone is also high, look into different car insurance. Saving a little here and there will add up and then add those bits to your savings until you need the next car. Congrats and best of luck. 