Reply to Make $200k, credit card debt, no savings

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here-

- credit score is low
- we’ve overspent for decades- sometimes because we made so little
- husband won’t even look at the checkbook or talk about money 
- fed taxes are from when our income went up significantly a couple of years ago. I have enough withheld now. 
- take home is 11k per month 
- zero savings 
[/quote]

If your take home is $11K / month on that salary that means you aren't maxing your retirement contributions either which you absolutely should lbe. This is like a red siren emergency.[/quote]

I miscalculated. It’s more like 9k. I do 6 percent 401 k for my job since my company matches that. Can’t get my husband to do a 401k at his job. [/quote]

$9k is still not bad.

$1500 towards the CC debt and another $1k towards the 401k loan at least[/quote]

OP, your debt isn't that bad with your HHI.

What are you spending frivolusly on? clothing, food, entertainment, trips, luxury items, what?

You should be able to pay back the IRS, pay off the cc debt, and the 401k loan within 2 years. 
Student loan debt may take a while ... Or it may be forgiven, who knows. That would be my lowest priority, tbh. [/quote]

With rent at $2500, no house maintenance costs, and that salary, you should be able to pay off the IRS, the CC and the 401k loan in a year. Maybe even do the 401k loan in February to get a running start. You are not in an unworkably bad situation, but you are going to have to sacrifice to get back out of the hole. [/quote]

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