So here’s the long and short of it. I’m 33 and my partner is 35, we have 2 kids who are 11 and 4 and are trying to right financially after lots of wrong. Combined we gross about 97k our expenses break down like this. House payment - 800 Truck payment - 532 (total owed 32k) Phones - 140 Food 600 - 800 Utilities - 250 in the summer and closer to 500 in the winter. We have about 14k in separate 401k’s and 8.5k in our savings account. The house we are in the process of purchasing from my grandmother for 130k where she is the lien holder. I have been thinking about selling the house in a year once I finish some repairs because I could probably get 250 - 300k for it and would be able to catch up our retirement, stash some money for my kids to go to school and have enough to put a down payment on a different house. Is this a good idea or no, I was never shown how to be smart with my money and have been just shooting from the hip. Just trying to not end up like my parents 1 who is on ss and lives in a camper and the other who relies on my grandma to take care of her. Any other advice is welcome also.
Submitted July 03, 2023 at 12:51AM by Responsible_Stop_683 https://ift.tt/zNvGLQ7
