Reply to $14k net HHI - Budget Input

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[quote=Anonymous]You've gotten some good suggestions as to what to cut.

Once you cut them, start saving. Start an emergency fund. Start a 529 for your DD. Start a car fund so you can pay for your next car in cash.

Somewhere along the line you were lead to believe that debt is good. It's not good for you; it is good for the people lending you money! Yes, you can hold a reasonable mortgage and perhaps some student loans, but financing and leasing luxury cars is just ridiculous!

What is the plan for the investment property? Are you getting any benefit out of it whatsoever? Any though about selling it to cut your losses there?

Kudos to you for realizing that you are hemorrhaging money and trying to do something about it. Hunker down now while you have one young child. They only get more expensive! And then you have a second! Is your DH on board? You should be able to get things under control relatively quickly if you to a real spending diet for about 6 months and make some tough choices.[/quote]

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