I need help, Reddit. I’m an enlisted member of the Air Force, and I managed to amass 25,000 dollars worth of credit card debt across 4 credit cards in 2 years. I married way out of my league, and made the mistake of trying to maintain my wife’s previous standard of living (furniture, honeymoon, eating out), on 60,000 a year (wife doesn’t work). My last ditch effort to pull myself out was to move into lower income housing, where my rent was only 735 a month, but my wife’s parents intervened and told me we had to move out, because they feared for their daughter’s safety. It honestly wasn’t bad, but they are used to that gated community, 6 figure life. The one light at the end of the tunnel iis that my father in law has offered me a job starting at 100k once I separate from the military. Other than scraping by for the next 3 years, I don’t know what to do, guys. Here’s where I stand right now:
Current monthly budget: Housing $1,650 (8 months left on lease) Car 1 $250 (value is 7k, I owe 8k) Car 2 $350 (value is 17k, I owe 19k) Utilities $250 Groceries $400 Credit card 1 $250 (I owe 12k @ 15%) Credit card 2 $200 (I owe 8k @ 17%) Credit card 3 $100 (I owe 5k @ 6%) Credit card 4 $100 (I owe 1500 @ 18%) Wife’s spending money $200 Gym $150 (9 months on contract) Savings $100 Insurance $200 Internet $170 Gas $150 Cell Phones $210
Total expenses $4,730 Total income. $5100
I know I’ve made a damn fool of myself, so be gentle. I managed to take my credit from 730 -> 590 in 2 years. Please tell me there’s still hope.
Edit: thanks for all the advice. Some days I start to feel a lot of anxiety about my situation, and the hopelessness begins to creep in. Sounds like my goals right now need to be establishing boundaries with the in-laws, and communicating better with my wife.
Submitted April 28, 2018 at 08:31AM by drippybuckets https://ift.tt/2r87wNC
