My husband (23M) works full time in retail and I (24F) am a stay at home mom with our two young kids.
Husband currently brings home about $2000/month and we live paycheck to paycheck or worse, actually. Once all of our bills are paid, we resort to using our credit cards for groceries and gas because we don’t have any leftover money to use.
Thankfully, my husband is in the process of getting a new higher paying job bringing in around $3500/month.
With this new income, we’re going to have a surplus of $800-1000 after bills, which is huge for us. We currently have $1500 in our personal savings and we have around $12k of combined credit card debt. He does have a small amount in his 401k and will continue contributing with his new employer.
We’ve never been able to budget for putting away money into our personal savings each month. We also haven’t been able to put in more than the minimum payments on our credit cards.
So I guess my question is, what do we prioritize? Debt or savings? Or is there something else we should be doing?
Thank you in advance.
Submitted July 12, 2021 at 07:36AM by bakaureshii https://ift.tt/2TT7DOZ
