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re: Debt Debt Debt.
Posted on 10/31/18 at 3:23 pm to bayoubengals88
Posted on 10/31/18 at 3:23 pm to bayoubengals88
If the OP would give this board all of the details, then he would have 5+ people basically layout a path forward to fix his issues. He just hasn’t provided the details that are required for the board to give a specific plan...instead we keep providing one-off advice based on the limited information.
Give us on a monthly basis:
Household gross income
Household take home income
Any retirement savings contributions
All spending by type (not “food” but be specific like “groceries” , “restaurants”, etc.)
Then give us:
All debt owed by amount, interest rate
Durable assets that could potentially be sold (if any).
Balances of all retirement accounts and type of account
If the OP provides this, then the MTB can basically be a free financial advisor
He’ll hear about 4-5 things as the priority from multiple posters which should provide a good BS detector. He will also recognize that the people who give a shite to post on this board are really good with personal finances.
I’ll wait and see what the OP decides and how bad he wants help. I recognize that giving that kind of detail can take some introspection.
Give us on a monthly basis:
Household gross income
Household take home income
Any retirement savings contributions
All spending by type (not “food” but be specific like “groceries” , “restaurants”, etc.)
Then give us:
All debt owed by amount, interest rate
Durable assets that could potentially be sold (if any).
Balances of all retirement accounts and type of account
If the OP provides this, then the MTB can basically be a free financial advisor
![](https://images.tigerdroppings.com/Images/Icons/IconLOL.gif)
I’ll wait and see what the OP decides and how bad he wants help. I recognize that giving that kind of detail can take some introspection.
This post was edited on 10/31/18 at 3:25 pm
Posted on 10/31/18 at 4:06 pm to lynxcat
I’m at work. These numbers will be ROUGH.
Gross monthly house hold income 10-11k
Take home 7600
401k gets 5% from me and the wife. With standard matching on to ofthat 0.5% up to 4%
Household retirement is about $120k
House note $1600.
Groceries. 300-400.
New AC loan 190
Credit Cards $1700!!!
Entertainment. Bring on the downvotes. $1400. That was just a random month in 2016 with my last thread on this subject.
Home probably has 80-100k in equity depending on market here.
Assets are vehicles which I have covered.
Total credit card debt is $63k. Various lines of credit. Rates from 7.9 to 19. I think I exaggerated the 22.9%.
Gross monthly house hold income 10-11k
Take home 7600
401k gets 5% from me and the wife. With standard matching on to ofthat 0.5% up to 4%
Household retirement is about $120k
House note $1600.
Groceries. 300-400.
New AC loan 190
Credit Cards $1700!!!
Entertainment. Bring on the downvotes. $1400. That was just a random month in 2016 with my last thread on this subject.
Home probably has 80-100k in equity depending on market here.
Assets are vehicles which I have covered.
Total credit card debt is $63k. Various lines of credit. Rates from 7.9 to 19. I think I exaggerated the 22.9%.
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