Saving for myself and kids

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Hi,

I am a 40 year old female with two kids. I had college savings
funds for them, but that got split up when I got divorced. I’m now
trying to save some money for myself (for emergency funds – I have
about $3K ) and put some aside for my kids (i have a savings
account with about $1K in each account for them). I’m also putting
3% in my 401K (before taxes) and I have an IRA just sitting there
(I’m so confused about what it – it was part of the divorce
settlement). I have a home loan and two credit cards (zero percent
interest) that I’m paying as well. I’m at a loss as to where to
even begin, but know that at my age, and with two pre-teens, I have
to try to start putting together a foundation (I don’t have enough
spare money each month to save a whole lot – so its important to
invest as best I can with what I do have). I’ve read through the
wiki and have talked to one financial adviser (I didn’t do more
than a consult b/c I’m afraid of the fees, etc. that I may end up
paying – or that they are out to get what they can instead of what
is best for me and my family). Sorry for asking so much / such a
broad question, but I would greatly appreciate any thoughts as to
where to begin… honestly, I think I’m just really overwhelmed
with all of this…. Thank you

submitted by /u/nicholepage1

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