Wife and I used to make $80k a year, bought a fixer upper in a really trendy location, was able to afford it with $900 a month for mortgage. Within two years we’ve fixed it up quite a bit about 10k invested. In that time, we had a baby, and it made sense for wife to stay home but it defiantly took a toll on our finances. Overall we’ve paid car off, and have 24k of student loans left with 6% interest. Medical bills are 4k wth baby, my surgery, and other misc health issues.
At the moment I'm earning $2k a month out of $47k a year salary after tax, insurance etc. After mortgage, bills and grocery other monthly expenses we have about $10 left a month so paycheck to paycheck is our way of life at the moment. We do have an emergency fund of $2000.
Note, we don't go out to eat, cook at home, no subscription to excess like Netflix, amazon. really living on the necessities like internet and phone which is under $100 and month. It’s tough when we see our friends traveling, going out at night etc.
With jobs I really need to move out of state to gain any significant change in my pay. With that in mind I am considering selling my home. At this time with the market and location of my home if i were to sell it I’ll be making about $22-27k after realtor fees. Renting also gives me flexibility to move out if landing a job.
My only worry is that I am selling my home too early? if I rent we are getting a rental from family member at $700 a month, it’s not that much cheaper but we will have major loans paid off. We certainly are attached to our home because we’ve worked hard for it. Need some wisdom here. apologies for short sentence, my mind is racing, really stressed out.
Submitted April 03, 2017 at 12:52PM by fuego34 http://ift.tt/2oBVF7A
