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Money and Finances
Reply to "What to do first? Debt vs Savings/Retirement"
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[quote=Anonymous]OP- as others have stated, your income and expenses don't match. At $230K/yr, you are taking home between $11,000 to $13,500 per month. Your "fixed" expenses are $6500/month. This means: YOU HAVE A BIG SPENDING PROBLEM. You have $4000-$6000/month that disappears. CUT UP YOUR CREDIT CARDS IMMEDIATELY (or freeze them in ice in the freezer for 6 months until you break your spending habit. No more shopping trips. You have enough extra income in 1 month to pay off that whole credit card. Then save $5000/month for 3 months and pay off that car. Then do it again and pay off the other car. Then max out your 401ks (which you should have been doing for years already.) We were maxing our when our income was $180k. You have very high income and can turn your whole situation around in less than a year. Start now. [/quote]
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