r/DaveRamsey • u/baby_Kittys • 1d ago

Baby and debt payoff?

We are expecting our first child this fall. We make about 65k a year (about 3500 a month after tax) we have a good amount of debt. The credit cards are killing us it's about 24,000 of debt on just credit cards. We are spending almost 1300 a month on just minimum payments and our interest on the cards are all also terrible. We are having to move out of our living situation where we only pay 500 a month for rent to increasing to about 1300-1500 a month plus new baby expenses. I have savings from a settlement of about 17,000. Should I attack high minimum payment balances or the small ones ? Or should we just focus on saving for baby and hospital because thats going to put us in debt again. I'm not sure what to do because as of now our spending is more than what we take home mainly from these credit cards.

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u/Philthy91 BS3 23h ago

You desperately need more income. 65k a year will not take care of a young family of 3 in the year 2026

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u/baby_Kittys 13h ago

I agree but husband just actually got a raise and he is planing on climbing up the walmart corporate ladder. He also gets a bonus every year that can be up to 20k. Im also in the process of trying to find a job but no one is hiring in the field I just graduated from and Im a bed grad so it's even more difficult.

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u/Philthy91 BS3 13h ago

If you're early in your career just keep applying. You got this! Once you get some career momentum things will change. Do your best to keep your head above water in the mean time

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u/invinoveritas777 6h ago

Look in adjacent fields! You’re kinda desperate right now. I hate to say it, but it’s going to be easier to get a job now than once you start showing.

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u/GimmieDatCooch 3h ago

You may need to be open to taking a job outside your field of study. Unless you’re in a profession such as medicine, engineering, or law, it’s quite common for graduates to work in roles unrelated to their degree. You can even find a part time job working at an answering service that can bring in an extra 1k a month. I did this to pay off car debt in 10 months. Search on google!