The basics, I made 55k last year put 8% in a 401k with 50% company match 5% in company stock with a 25% match that I can pull out at any time. After that, taxes, health insurance I take home 24k. Currently I have 30k in my 401k and 5k in stock which I was saving to give to my step daughter when she graduates HS in two years.
I had zero debt, except one thing that I will explain later and 10k additional in savings.
Since I got married coming on 2 years ago the 10k is gone and that is with me cutting way back on any extra spending.
I have also taken on a car loan at 3.2% interest for a car that now needs it's engine rebuilt 4 months after we bought it.
I had zero credit when I got married as I was deathly afraid of debt since I had to drop out of college due to medical reasons, once I paid that off I decided never again.
The 10k I had in savings was actually to go back to school but when I went to get my transcript they found I had some random 2k unpaid something or other that I needed to pay before I got my transcript. I actually tried to fight it or at least get an explanation since I had spent 5 years of my life putting almost 100% of my extra income towards paying off all my school and medical debt.
By the time I decided to pay the random missed fee most of my savings were gone from random things, random medical, car down payment because other cars transmission is going out, my wife had to take 1k out for Christmas presents which was a huge fight, cat got sick and so on, and I wanted to rebuild my savings first but I haven't been able to.
Biggest difference between now and then is rent is $200 more a month and her health insurance is an extra $300 a month from my company and the car loan for the dead car is $159.
I want to take on a second job to rebuild savings, a $100 a week for 2 years and I would have the 10k back but my wife is fighting me on this because I already work 70 hours a week at my current job.
I am lost, and I felt I was doing so good paying off my school debt and medical debt so fast by being miserable for a couple years.
I use to be able to take weekend trips, eat out one a week, always have a couple craft beers after work and I felt this was my reward for being responsible and though I knew I was never going to be rich I was happy. Now I do none of that and am still falling behind and it wearing me down.
Do I take on loans to go to school?
Should we have spent less on a car so if it broke down we wouldn't have had payments still or should we have spent more so we had some kind of warranty even if it meant taking on more of a car loan?
An general advice to get my savings back up?
What am I doing wrong?
Thanks!
Submitted April 02, 2017 at 02:26PM by akbarizcool http://ift.tt/2nLPUEu
