Hello,
So here is the skinny. My wife and I just had out first child in June. I am 39 years old and we just went through all of our bills. I feel hopeless at the moment.
My wife left her job making $62k a year once we had our child. I make between $80k-$100k depending on commissions. I also get $700 in mileage. We also have $10k in savings.
Our debt breaks down as follows: Rent - $800 Car 1 $302 Car 2 $266 Personal Loan $390 (5.9% interest) Personal Loan 2 $261 Car insurance $150 Entertainment (Netflix, Hulu, etc) $45 Cell phones $65 Groceries $300 Gas $200 And the biggie, credit cards $17k roughly. (Rates vary between 16.9%-24.6%
I am feeling pretty defeated about reckless spending. Not to mention the rift this has caused between my wife and I. Any ideas to help would be incredible. Am I correct in feeling hopeless?
Thanks everyone.
Submitted September 12, 2018 at 07:59PM by patrickoh37 https://ift.tt/2xbzhY0
