Great post.

Echoing this sentiment...you need to provide details on:

1) How much credit card debt? This will likely change the entire course of a recommendation. Highly expect you will need to pay this off immediately and delay almost everything else (e.g., pay minimums on everything else, get a 100% 401k match, and the rest of the dollars go towards paying credit cards down).

2) $2,800 for rent? Are you crazy? Literally said

when I read that. You don't have kids yet - you can almost certainly find a very nice apartment for $1,500 or so a month and save the delta (or pay off more of the CC debt).

$200-300K in student loans is honestly not a big deal when you are DINKs (dual income no kids) earning relatively high incomes, especially for your age. You could pay off $75K a year in student debt and be done with it in a few years. It won't be a 'fun' time but I generally find people with student debt like to complain about it (and borderline draw attention to it).

1 ...

Report Post

Posted by wasteland

City of peace

Member since Apr 2011

5603 posts

Posted on 5/3/19 at 8:45 pm to lynxcat

Great advice in here. Budget with one income. Include 20% to savings or 401k to get any match.

The 2nd salary goes to debt repayments. Commit to it 12 months at a time and revisit.

The biggest red flag to me (and everyone else) is $2800 monthly rent. I understand rewarding your efforts but change your prospective of a reward and actual value to life. 1200 to rent at MAX and 1600 put to work.

Debt is gone in less that 4 years and road to wealth is established. You're in control and get to decide your future.

Honestly, most of the details you asked about mean nothing if the whole plan looks like your rent budget.

0 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board