Do I do max contributions with debt? New job, 20k debt, 401k Roth Im not sure how to budget with my new job. Im paid 80k a year. My rent in LA is $1400 for a small 3 bedroom townhouse (owner has some govt job living somewhere else so its a sweet deal). I have 5 kids. My wife doesnt work. I pay about $2900 on other expenses (food, gas, insurance, etc). My take home is $5000 a month. But i have about 20k in cre…

Desperately need guidance – 70k in debt and growing Hi all, I’m an almost 30 year old living in NYC making 80k. My debt is becoming all-consuming and feels insurmountable. Can’t afford a financial advisor (obviously) and was never taught anything about finances by my parents or in my schooling. Please offer any insight, every time I try to research myself I receive such conflicting info and end u…

6k debt how do I get out of the hole As the title states, I went a little crazy with spending on my credit cards. They’re almost all maxed out. 1. $5000 2. $400 3. $800 I have bills I pay: Rent: 750 Insurance: 120 Health bill (ER visit): 750 Gym: 200 Phone: 130 I net around $4000 a month give or take. I can pick up extra shifts which I have been doing. I have a 401k with 9,000 And…

Should I get a debt consolidation loan? I have a lot of credit card debt and student loan debt as well. I over over $4,000 and $5,000 with a high interest rate on two credit cards, and $1,900 on one card. I owe over $6,000 in student loans. I don’t know what the interest rates are but my two cards interest rates are high because my credit was poor when opening them, it was poor becaus…

Clear debt or save more? I have a friend that has roughly 40K in a savings account, has a 19k car loan, 40k in student debt, and doesn’t own a house. I was thinking they should just use the savings to pay off the car debt to save on interest and set aside the same amount as their car payment back to that high yield savings account (~4.25%). Should they pay off the car a…

My family got into debt very quickly and I’m sorta freaking out a bit about it. Are we okay? Monthly income is 7,200 (after 401k contribution, taxes, and insurance) Mortgage: -1475 (2.3% interest) Car loan: -620 (refinance needed. Currently at 8 percent. My husband uses this vehicle for work he needs the 4wd and towing capacity). PSFL Save payments: 50 dollars a month, 5 years left. Power: -350 (used to be 195 idk) Internet: -92 Pho…

I want to steadily grow my wealth. What are the most stable ways I can do this with no debt and being overall frugal? I have a decent amount of money in my checking and savings accounts. My car is paid off and I have no intention of buying another. I have very little bills as I’m living with my dad and thinking about going back to school if my current job or upcoming job will offer tuition. I have a very good credit score. I’m putting money into the VOO S&P 500…

Should I ignore debt collectors? I had some dental work done to remove my wisdom teeth. The office were I got them removed took our insurance and we actually had to wait to do the surgery until our insurance covered it and we paid in full before even scheduling the appointment. All was done, we paid our bill, then I had the surgery. I asked if everything was good before leaving…

How feasible is it to pay off medical school debt? I am considering going to medical school and am wondering how difficult it will be to pay off the debt. I won’t have any student loans from undergrad but I will have to take them out for med school, probably around 250,000 in total. Wondering what paying that off would be like and how feasible it is. I know I would love working as a physician an…

I keep getting called by a debt collector, but I have no debt? So for the past several months, I have been called by multiple debt collectors. I had a medical bill of around $1600 that I was a few days late on paying (but it was not on my credit card, it was on my mothers), and so I got a call from a collection agency. I went to the medical office that I owed the money to and paid them back in person. A mon…

I have about 20K in debt. All no interest. Want to apply for a new credit card. Should I pay off debt before applying or not? I have a few debts across a few cards totaling to about 20K (about 30% utilization). It’s all no interest debt and I have the money to pay it all off but I feel the money would be better put in the s&p or high yield savings. I feel that’s the obvious choice but the thing is I want to apply to for a few credit cards (Altitude Reserve, BILT). Sho…

Is it smart to keep 0% interest debt to maximize investment returns? For example, I have a savings account that gets me 5% interest. I also have opportunities to pay some things back with 0% interest. I.e. via the Amazon prime credit card plus a 0% apr promotion that lasts for another 10 months. Should I be carrying as much 0% interest debt as I can reasonably pay back in time? Theoretically that money would go t…

I feel like my sister has put herself into insurmountable debt and I don’t know what to do I flew across the country and have been staying with my sister after she called me last week from the emergency room because she was experiencing a panic attack or something from an edible that she ate. I know from a call from my mom a few days prior that my sister has been pretty cagey after moving to her new apartment, that she’s been borrowin…

Feeling stuck paying off my parents debt UK I’ve recently graduated (STEM) and moved back home. My dad is the only one working, my mum was a housewife for a decade and is very picky with work – can only do housekeeping/cleaning due to limited qualifications. My dad earns 3K, but 1.5 K is gone as soon as it enters his bank due to interests from the many loans he took. Probably 70K debt off…

In preparation for an economic downturn, would you save or pay off all debt? If 2024 ends up being as bad as people are saying it will be, if you had debt, would you pay it off at the beginning of 2024 or save the money as a cushion in case of job loss or other emergencies? More info: my partner and I have saved up 95% of what we need to pay off both of our vehicles, however, I am trying to decide whether we should hold …

My father is going to die with debt. What does that mean for me? As the title says my father has decided he is going to die with debt. He is disabled and retired and he receives a trivial amount of income from these sources, no more then around 1000 a month if that. He has several credit cards with debt and he went and bought a Mercedes… As asinine as it is he is mentally competent if not maybe a little depr…

Is a personal loan a good tool for consolidating debt or am I just digging myself into a deeper hole? Difficult life circumstances have led me to accumulate approximately 11k in credit card debtz This credit card wil start accruing interest this November. I have been making $300/month payments, but I’m worried that now that interest will start to kick in, the balance will remain basically the same and I will never pay this card back. On top of t…

Moving Out of My Parent’s House. Have Student Loan Debt and some car debt. Hey everyone, I’m a 22 year old recent college grad living at home rent-free. I am looking to move out some time next year after getting my finances settled and saving some more money to rent an apartment. I have around $30,000 in savings and I make $75,000 pre-tax. However, after tax and my 401k, it’s about $50000 or around 4.2k/mo. I have arou…

Debt spiral…A teacher in her twenties I’ve got 6 credit cards all maxxed equalling to about $6000, one high interest loan of $1700, another high interest loan at $700 and i can’t seem to stay afloat with the high interest debt piling up. That was recent as of April of this year and it’s been horrible since…for the first time ever making it hard for me to pay my regular credit card b…

I need help with how to handle this hospital debt My DIL is pregnant. She is 35 weeks along now, but she just got out of the hospital with pancreatitis. She was in for a week and a day. She is currently back in the OB ER because she is nauseous and refuses to eat or drink anything. My son is very concerned about the medical bills (she quit her job and plans to be a SAHM) because she hasn’t even…