moxiqpedro408
New Member
Hello
Me & my husband have been struggling to get out of debt (our daughter ended up in hospital, we took leave, then paid for two 73 funerals within 3 months ). Finally I finished school & am working. We financially make $2,000 each Friday (our paydays are alternate weeks). We’re a fam of 4. I was hoping to get some help cuz tbh it really sucks constantly putting so much money onto our debts & never having income in the bank.
Debt:
Car Loan: $28,173.00 (Interest 8.99%) Payments: $250/week (I just switched this last month, it was a 7 yr loan and now it’s 2.5 yrs)
Loan: $28,866 (Interest 12.60%) Payments: $125/week
Line of Credit: $13,082 (Interest 8.99%) Payments: $50/week
We opened a FTHB account & I’m trying to desperately figure out a way we can put funds into this, plus a RESP for our kids & RRSP. But I just feel I don’t have any wiggle room cuz our debt takes all our income after rent ($2400) & bills come out. We don’t have any savings to fall back on, or retirement savings.
I also really need to save $5,000 in these next two years.
Is there a person I could follow, or any recs people could give me to help make a plan to at least get out of one debt this year or even save for a home so in 2-3 years we could have enough for a down payment? I am failing in this budget department.
Me & my husband have been struggling to get out of debt (our daughter ended up in hospital, we took leave, then paid for two 73 funerals within 3 months ). Finally I finished school & am working. We financially make $2,000 each Friday (our paydays are alternate weeks). We’re a fam of 4. I was hoping to get some help cuz tbh it really sucks constantly putting so much money onto our debts & never having income in the bank.
Debt:
Car Loan: $28,173.00 (Interest 8.99%) Payments: $250/week (I just switched this last month, it was a 7 yr loan and now it’s 2.5 yrs)
Loan: $28,866 (Interest 12.60%) Payments: $125/week
Line of Credit: $13,082 (Interest 8.99%) Payments: $50/week
We opened a FTHB account & I’m trying to desperately figure out a way we can put funds into this, plus a RESP for our kids & RRSP. But I just feel I don’t have any wiggle room cuz our debt takes all our income after rent ($2400) & bills come out. We don’t have any savings to fall back on, or retirement savings.
I also really need to save $5,000 in these next two years.
Is there a person I could follow, or any recs people could give me to help make a plan to at least get out of one debt this year or even save for a home so in 2-3 years we could have enough for a down payment? I am failing in this budget department.
