I was explaining this to my neighbor on a fixed income, that it costs over $6k a month to run my household, she looked genuinely confused for a second as she runs her life on about 1/30th that cash. What’s awful is we’re still going in the hole and I’m just using my 403(b) to collect my employer match so I can cash it out regularly and pay off expenses. So no savings is occurring.
I’m sorry to hear that. I was there 3 years ago on a smaller budget. I thought we were in a decent spot financially and then we had our first kid (planned) and my partner stayed home with our baby. Our income went down by roughly a third overnight and we had a $10k delivery bill and all the other new baby stuff. We burned though our savings in about 9 months even though I was working. I almost opted to sell my car but I was very fortunate to find a new job making about 30% more and we recovered. The stress in that situation is immense and I hope you find a way out.
Thank you, yeah I took a $30k pay cut into my current job after being laid off for 5 months, which destroyed us. Now I have to figure out how to consolidate and secure all the debt so we can get enough credit to consolidate and secure all the debt :) Hoping for a reversal like you, glad you found it.
I was explaining this to my neighbor on a fixed income, that it costs over $6k a month to run my household, she looked genuinely confused for a second as she runs her life on about 1/30th that cash. What’s awful is we’re still going in the hole and I’m just using my 403(b) to collect my employer match so I can cash it out regularly and pay off expenses. So no savings is occurring.
I’m sorry to hear that. I was there 3 years ago on a smaller budget. I thought we were in a decent spot financially and then we had our first kid (planned) and my partner stayed home with our baby. Our income went down by roughly a third overnight and we had a $10k delivery bill and all the other new baby stuff. We burned though our savings in about 9 months even though I was working. I almost opted to sell my car but I was very fortunate to find a new job making about 30% more and we recovered. The stress in that situation is immense and I hope you find a way out.
Thank you, yeah I took a $30k pay cut into my current job after being laid off for 5 months, which destroyed us. Now I have to figure out how to consolidate and secure all the debt so we can get enough credit to consolidate and secure all the debt :) Hoping for a reversal like you, glad you found it.
Surely there’s some significant expenses you can cut.