Reply to $155K HHI and broke

Forum Index » Money and Finances

Reply to "$155K HHI and broke - any tips?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]

Sell the expensive cars - even at a few thousand dollar loss - and replace them with ultra-cheap used cars.  Drive those cars until they die.

Sell the expensive house and get one you can afford.

Sell the expensive junk that led to the overly high credit card balances.

No one but a financial idiot or a drug addict should have any trouble getting by on $155,000 a year anywhere in this country.[/quote]
Cannot sell my 8 year old car. A cheap and reliable car will cost the same.
Cannot sell the house. I am upside down on the mortgage, cannot even refinance. My interest rate is 4.75
I do not own expensive junk. Just some camping equipment, those do not sell for much on craigslist.
Kids will have to do summer camp this year. I will have to charge it on the credit card.
Another kid has braces, but I got a good deal. In 10 months time that monthly payment will be gone. I am paying for glasses, dermatologist and doctors as well.

Mortgage payment is $2100. My kids need their own rooms. I cannot move the family into the city ghetto. That place scares me, and I am not "city" like enough to be able to live in gang land.

But I suppose it could be worse. So if you have some tips, tell us. So far I bake my own bread, never do take out or restaurants. Do not shop, except to buy the kids what they need[/quote]

Kids don't need their own room
They don't need to have summer camps. Send them to stay with grandma, or find a nanny share with another family.
Get a roommate even its a bit cramped and awkward. Even a couple hundred a month can go a loooooong way when you are penny pinching.
Think about the under water house - what would it cost to sell? How much could you save long term if you did it? I sold a house that I lost $50,000 on because I realized I could save that much in mortgage in 2 years. You payout might be different, but just because its underwater doesn't mean you shouldn't sell. Digging bigger debts doesn't help you. $2,100 mortgage plus taxes is no joke on $150K.

Rethink your situation. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics