I don't know how expensive auto insurance is there vs here in the US. I know that we're required to have full coverage on any vehicle that isn't paid off. I keep it on mine anyway, especially after having my little car totalled 10 years back by a driver that wasn't carrying any (which fucked me over because my insurance was forced to pay for everything but /storytime). I'm also not positive how expensive car payments are there, nor what your mortgage amounts are for your home. I'm going to be honest with you though, all of the retirement payments are probably not going to help your situation. You can consider putting less in each pay period, and lengthening the finance amounts for both vehicles-- or even putting off vacations and paying them off entirely to reduce your monthly expenses considerably. Depending on the amount of time it takes to get your master's, you could also go that route-- but you'll likely have school loans from it that you'll have to plow through.