Howdy r/personalfinance! My fiancé is 8 weeks pregnant. After quite a lot of talking and hopping back and forth we've decided to continue with the pregnancy and start a family. Off of our income we could raise a child and support ourselves but I absolutely do not want to wreck myself financially or live the rest of our days in poverty.
Between the two of us we probably pull in 40k a year before taxes. I'm set to begin training for a higher position in the next couple of weeks which should boost our income by another 7-13k in time for the baby.
She has debt from when she was younger. 600~ credit card debt. 3,500 in car loans. About 700 in hospital bills.
My total debt is about 1250. Unpaid hospital bill and a debt in collections over a terminated contract with my mobile provider.
We only pay 150 a month for rent for now. Expected to be 500 in a month or two.
I personally bring in about 500-600 dollars a week (paid weekly). The baby is expected to be here in October. What can I do with this weekly income to start getting prepared for this baby?
I'm extremely nervous. This is going to be one of the biggest jumps I'll ever make. I don't have a car. We're living in her parents guest house. I need to get the ball rolling immediately.
I just don't know where to begin. Please help guide me. I know for a fact that there's a lot of things I should've started doing as of yesterday. I just don't have guidance on the matter.
Tl;dr - Fiancé is pregnant. 40k a year combined income. I make 500 a week on average alone. Current bills only 150 a month for rent. I don't have a car. What should I start doing immediately.
Submitted March 04, 2017 at 09:41AM by KevanBacon http://ift.tt/2mQCN3N
