u/UltraLordsEg0

I currently have a 2024 Ford Ranger I want to get out of because while I can afford the payments with ease, I don't enjoy spending $550 a month.

My commute is about 50 miles round trip and I use my vehicle on average an additional 30 miles per week. I need to be able to put 2 car seats in it that would get used every single day.

My biggest concern is the milage and wear and tear. I have typically bought new just for this reason. But I made a mistake with the truck, as much as I love it. White my mileage usage and needs, what type of car would you look at and how many miles would be too many for you?

I got introduced to Ramsey about 3 years ago, and I think his methods for the most part really help the average person get a grasp on things. I have been able to slowly get my wife to follow along with some things like combining finances and building up to an emergency fund. While we are technically on Baby Step 2, we are building out our emergency fund first as we are able to comfortably afford our bills every month. I fully understand the purpose behind the order at which the baby steps are in. Limit the amount of debt you pay because that money can make you interest instead. But I don't necessarily agree with Dave that you're doing it wrong if you do them in reverse.

My wife (28F) and I (28M) only have car loans (~65k) I paid off the remaining $16k of student loans last year (finally!). We have a 2 year old and another on the way we just found out about last week, they will be here Nov/Dec. We save about $1,600 a month not including what we put away in our 401k each paycheck and will have a full 6 month emergency fund by the time baby #2 is here ~$50k. When #2 gets here we will be having to drastically reduce savings to less than $300 a month for a while as we will have 2 kids in daycare. If I will still be able to save, albeit very little, while 2 kids are in daycare, is it not the right thing to do to save up my 6 month emergency fund first before dumping extra money into loans?

Or

Would you pay off the loans as fast as possible and try to build back some sort of savings after?

Edit: Adding income and monthly costs.

Gross Income combined is about $175k

$2,500/month mortgage

$900/month groceries

$750/month 1/2 day daycare

$400/utilities and Internet

$650/month gas

$1050/month 2 cars