We are currently pulling in a similar income. Here are some things that have hit us in the past few months:

- hours cut at work (thus not making more)
- car repairs
-appliance repairs
- owed taxes

What would you have done if you had owed taxes? Your situation is dire. We are ok because we have six figures in the bank. A couple of the last months we have been in the negative range. But we are ok overall and looking for new jobs that pay better!

For Christ sake, why do you need to spend 8k on car repairs? What kind of car is it?
We have HHI over 300k and over 500k cash in savings and we would never drive a car that needs 8k to repair.

When you go to the store go with a list and don't get a basket. That will help you not get the extras because your hand will be full of the stuff on your list.

Anonymous wrote:My husband and I are terrible at managing finances. DH doesn't want to consult a professional so I'm hoping we can get advice here.

We have $13,000 in credit card debt and are $200 over our limit. We are spending more than we make so that every few weeks we have to transfer money from savings to checking. Our savings are down to $300! We are expecting $8000 for our tax return. DH wants to spend the money on car repairs (which we need), and a trip to San Diego for a friends wedding. He thinks we should pay down the credit card $2000 and put the rest in savings which would be about 2K.

I think we should put a huge chunk toward the credit card bill and be militant about spending. Eg, DH goes to his pals wedding alone so he can split a hotel room with a friend.

Looking for some advice here. Please help!

Stop using the credit card. Cut it up.

Anonymous wrote:OP, just wanted to say I get it. My DH is terrible with finances and I have had to work around him to make cuts/budget. Some things that helped me - switching to a lower interest card, selling gold and using the cash to pay down the credit card, buying only generic brands, trading in my smart phone with unlimited plan for something basic. I'd like to make more changes (get rid of cable, downsize the car) but those would require him to get on board and he's not quite there yet. It's stressful and frustrating but someone has to take responsibility and start making changes. My DH has seen the impact of my small changes though and is starting to get on board with the bigger ones (considering trading in the car). Good luck and stay strong.

I agree but am not OP but want you to know you are not alone. It sucks and in this city it's easy to get under water very quickly. For us, it was DH switching jobs for a job he loves so the quaity of life went up but a change in a medical plan with an incompetant HR and tax forms not done properly was just bad for our budget.

I think that baby steps are what are needed-if you go crazy on day one, you'll be miserable by day two and give up. We found that always having things like eggs/bacon in the fridge means we always have something quick and easy to make and don't need fast food. Yes, you're exhausted and it's easy t do take out but once you plan meals it becomes much easier and you cut a huge chunk of money out of your budget. DH also packs lunch which cut out more than you'd expect. Mint.com is a great site to see where you are spending your money and create a basic budget. Good luck.

OP, just wanted to say I get it. My DH is terrible with finances and I have had to work around him to make cuts/budget. Some things that helped me - switching to a lower interest card, selling gold and using the cash to pay down the credit card, buying only generic brands, trading in my smart phone with unlimited plan for something basic. I'd like to make more changes (get rid of cable, downsize the car) but those would require him to get on board and he's not quite there yet. It's stressful and frustrating but someone has to take responsibility and start making changes. My DH has seen the impact of my small changes though and is starting to get on board with the bigger ones (considering trading in the car). Good luck and stay strong.

Anonymous wrote:We bring in about $5200/month

I went throught the forum quickly and did not see HOW MUCH YOUR MORTGAGE PAYMENT OR RENT PER MONTH? Maybe the mortgage has consumed most of your income.

Your life is going to be a nightmare unless you make some serious changes soon. You don't seem to realize how dire your situation is.

Your tax refund is way too high, you need to adjust your withholding on your W4 to lower your refund, this will increase your paycheck and help pay that debt down.

GL

Anonymous wrote:OP here. I appreciate your responses. DH doesn't seem to see this is a dire situation, and I do. So it was important to get a 3rd party perspective.

You need a marriage counselor, not a financial advisor.
I AM NOT BEING SNARKY -- I PROMISE.
There is a serious disconnect here, your husband needs an objective perspective to help him see THE OBVIOUS.
He WILL NOT HEAR IT FROM YOU, He WILL NOT SEE IT FOR HIMSELF.

OP here. I appreciate your responses. DH doesn't seem to see this is a dire situation, and I do. So it was important to get a 3rd party perspective.

Consider separating your finances....drop gym and go for run instead. do you have anything you can sell? Get job.

Anonymous wrote:You are still living beyond your means.Gym?!
Your next months debt should be less than 13k not more.If it's more, you haven't done enough.
It's harder if your husband doesn't want to get on board.I'd scream my heart out.

+1. Seriously.

You are still living beyond your means.Gym?!
Your next months debt should be less than 13k not more.If it's more, you haven't done enough.
It's harder if your husband doesn't want to get on board.I'd scream my heart out.