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Ask Dave

Stay-at-Home Mom or Pay Off Debt?

Heather and her husband are disagreeing about if they should pay off the student loans before she becomes a stay-at-home mom.

QUESTION: Heather and her husband have $40,000 in student loans.  She wants to be a stay-at-home mom, but her husband wants to get the student loans paid off before she stays home.  What’s the right thing to do?

ANSWER: I want you to stay home.  You should live on your husband’s income for one year, use your income to pay off the student loan in that year, and then stay home with your kids.