$575k in student loans??? There's your mistake.

Digging yourself out of a hole is never fun or easy.

Hindsight being 20-20: student loans should be minimized. Learn the lesson and don't repeat it with your kids. You should have gone to college and law school in-state. You should have worked PT to bring in some cash. You should have taken out the bare minimum in loans and lived frugally with a bunch of roommates and ramen.

You should be living frugally now. Pay down the loans. Don't carry credit card debt. And don't plan to trade up to a bigger house. Learn to live within your means, and prioritize paying off your student debt.

My mil is a real estate agent, and she says you really shouldn't consider your primary home as an investment. Rather, it's your monthly housing cost. Make sure it's affordable. Once you've paid off your mortgage, then you can think of it as an investment you might consider unloading to downsize.

A better measure of your financial situation is a monthly budget.

Hahahahahaha

I feel like this thread needs a theme song and this should be it:

Anonymous wrote:

Anonymous wrote:OP needs to be more specific. What is the house worth and what did he pay for it? What's the exact student loan amount? I don't think the OP has any idea of what "net worth" means. We need to do the math for her.

Thanks for the assistance. $310,000 mortgage and "estimated" value of $425. Combined student loans are $575,000.

The bold was the OP a few pages in.

Anonymous wrote:Is the $575k in student loans just OP's, or is that combined with her husband's loan?

I believe 720K was the OP and her husband's loans. For a combined HHI of 220k.