So after 15 years of being together (7 years married) my wife and I have decided to split. We have taken a look at the finances and it's crazy how difficult it is going to be for me to make ends meat.
We have two kids, and she is taking the house and will have them the majority of the time. In New York State I owe her 25% of my income minus FICA.
This doesn't include the monthly daycare.
She makes a considerable amount more than me. With her student loans, car payment, mortgage, ROTH IRA, life insurance, heat and utilities, daycare etc....she will still be able to save around $400 each month.
I am a manager moving into a $650 a month apartment (very cheap for where I live). I have stopped paying into my 401k. I have "trimmed" as much fat as I can from my expenses. With paying child support, day care, and my few bills (I don't have any student loans), I am still going to be in the hole around $400 each month.
How to I save money or at least not go bankrupt? Should I be looking for a supplemental job? Maybe even a new job?
I have already spoken to my boss about a potential promotion, but it would have to be pretty substantial for me to be able to afford any sort of living.
Any advice would be great. I haven't officially moved out and separated yet, but when I do I know i'll be bleeding money for a while.
Thank you.
~ Midsyde
Submitted January 27, 2018 at 04:33PM by Midsyde http://ift.tt/2Goz7jM
