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Started By
Message
re: Debt Debt Debt.
Posted on 10/31/18 at 4:06 pm to lynxcat
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%.
4
Posted on 10/31/18 at 4:12 pm to LSU alum wannabe
quote:
Gross monthly house hold income 10-11k
quote:
Entertainment. Bring on the downvotes. $1400.
quote:
Total credit card debt is $63k
Dude get your shite together. You make 120k a year and have paid $6k in TWO frickING YEARS. You're math doesnt even add up.
7600-1600-400-190-1700-1400=2310
Where the hell is that last $2400 a month of TAKE HOME PAY going?
This post was edited on 10/31/18 at 4:13 pm
Posted on 10/31/18 at 4:13 pm to LSU alum wannabe
You stated $7600 in take home income, then only about $5300 in bills. Where is that extra 2.3k going? I'm assuming toward utilities, phones, cable, internet, gas, etc...? How much of that 2.3k is being spent on bills?
Posted on 10/31/18 at 9:39 pm to LSU alum wannabe
Sell the house pay off all debt, save the rest. Use the savings per month (1700 bucks) to help with increase from 1600 to whatever rent is and save the rest every month to buy a new house later (or not).
Posted on 10/31/18 at 10:27 pm to LSU alum wannabe
This is simple
the above has to equal zero until the below equals zero.
There is nothing wrong with spending whatever you wish on entertainment and or travel IF it is within your means and it is not done with borrowed money.
quote:
Entertainment. Bring on the downvotes. $1400.
the above has to equal zero until the below equals zero.
quote:
Credit Cards $1700!!!
There is nothing wrong with spending whatever you wish on entertainment and or travel IF it is within your means and it is not done with borrowed money.
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