Hey everyone. Welcome back to Finance Friday. It is another special edition of

Money Girl where I answer your burning money questions. Today's question is from money in our mid 30s with a dual household income of 175,000 and two kids under the age of three

which means a considerable daycare expense. Our mortgage balance is

$120,000 at 7% interest, but we have no auto loans or credit

card debt. We have emergency money in high yield savings for three to six months. I max out a Roth IRA annually and contribute

enough to get my 401k match at work. My husband has a state-funded pension plan. If we have extra money in our

budget, should we invest it for midterm goals in retirement or pay down our

7% mortgage, which I've heard some define as a high-rate debt.

Well, thank you for your awesome question, Maya, and congratulations to you and your husband for doing such a great job

with your finances. I mean you're only in your mid 30s and you are well ahead of many other

people your same age. So again a big virtual high-five to you for doing that.

This podcast will review how to prioritize any extra money you're fortunate enough to receive.

Whether you get a raise or it's a cash gift or inheritance or you win the lottery

or maybe you just cut expenses out of your budget,

that is a terrific opportunity to strengthen your

financial security. Again, thanks for joining me this week. I'm Laura Adams,

an author, personal finance spokesperson, money speaker, founder of the Money Stack newsletter,

and host of the Money Girl Podcast with 43 million downloads.

If you're not already subscribed, you want to do that so you never miss an episode. We're now doing two shows

that come out on Wednesdays and Fridays. Also if you've got a question you'd like

me to cover on a Finance Friday Q&A show,

I'd love to hear it.

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