Hello Mustachians!
I just stumbled upon this amazing blog. I've been looking for something like this for a long time.
I really think I'm in a good position to be living like a mustachian, but still far from that goal.
I'm 26 years old, I have a fiance (23 years old), and a 2 year old son. I work as a software engineer, although not paid great since I don't like in the middle of any good tech culture. I currently live in an "in-law apartment" at my parents house... I know I know. It's super embarrassing. I was laid off from my last job, 3 days before my son was born. I was denied unemployment at the time and got evicted after a few months of paying my bills with all my savings. I moved into the in-law apartment at my parents to start over.
I've been working at my current job for a little over a year (almost a year and a half). I make $44k/yr. My wife works a part time job as a teacher at the boys and girls club pulling in $10k/yr (It's more important for me she's there to raise our son, than to work the hours that I Do).
Our debt it's gigantic by any means, but it's still looming and murdering my credit! My credit score is a horrible 550 (god this post keeps getting more embarrassing).
My debt is about ~$10,000
- Student loans (~$7,000)
- Small loan sent to collections (~$1,000)
- Misc. small stuff (~$2,000)
Her debt is just about the same ~$10,000 which is almost ALL student loans.
We financed a car not long ago, since my credit sucks I got a ridiculous interest rate.
$8,000 at 22.23% of course they sold me on the fact that "on time payments for a year, and you'll be able to refinance to a lower rate no problem!". What can I say... I'm young, stupid, and definitely naive when it comes to these things. These are all first time experiences for me.
We also have a credit card, it's a Wells Fargo Secured card with a $300 limit. I just got it, but I'm trying to spend as little as possible on this. I don't want to use it more than $100/mo and pay it off in full every time.
Our other assets are my checking and savings accounts. We have almost $3,000 between those two accounts.
I'm doing pretty good learning to budget. It's saved my ass so far, I just had a $1250 car repair bill out of nowhere, without budgeting I never would have had that cash on hand. I owe it all to
http://youneedabudget.comSorry if my thoughts are a bit scattered throughout the post. I hope it made some sense!
Help me Obi Wan mustachians! You're my only hope.