Ugh. It is just a lot.
Timeline on some of the debt:
Wells Fargo - They offered a settlement. They will take $400 some odd dollars and allow us to pay $79.58/ month. So we could pay that off in about 6 months.
Car Loan = 14 months
Loan = 17 months
Care Credit = 12 months
On our mortgage, that is our mortgage, insurance, and taxes. Its at 4% interest.
I had to take some money from our savings to finish paying our taxes. Its down to $426
Other budget issues:
I haven't found a cheaper cell phone plan yet. I talked to a couple of other providers and it only changed about $20. I am not sure if $20 is worth changing for.
We only have 2 internet providers in our area and the other one is satellite. Our neighbors have not had much luck with it so we have stuck with the other provider. There are only 2 plans. We have the cheapest that is $66.48 and then the rest is taxes and fees so its $95-$99 a month.
I saw someone talk about doing a food inventory, so I am going to try that. Maybe I can see how many meals I can make out of that and stretch the budget.
With me recovering from my surgery/injury I can't really work a second job. I'm still not driving. So maybe I can find something I can do from home.
Debt and money
July 14th, 2020 at 08:13 pm
July 14th, 2020 at 08:32 pm 1594755154
If you could sell and pay off all your debt, would it be worth it to rent for a year or two while you saved up a down payment?
If selling isn’t an option, is renting a room in your house a possibility? One affect of the pandemic is that people are going to end up losing homes. Renting a room may be an affordable option for someone who can no longer pay rent on an apartment.
July 14th, 2020 at 09:22 pm 1594758133
Is changing cell phone plans to save $20/month worth it? Sure, because if you can also cut out Netflix for $15/month and maybe knock 10%/$25 off of your miscellaneous category and trim a couple of other things here and there and before you know it, you're spending $60 or $70 or $80 less every month that can go to debt repayment and building your EF. Every little bit helps.
July 15th, 2020 at 12:53 am 1594770811
Have you considered refinancing to reduce your mortgage? I did and am saving $200 a month.
July 15th, 2020 at 02:20 am 1594776036
August 10th, 2020 at 06:42 pm 1597081350
Also consider looking at google fi, I have 3 phones on that plan and we pay about $100 a month if we keep our data down and use wifi when we can.
Good Luck!