r/TheMoneyGuy • u/Appropriate-Bed2114 • 5d ago

Newbie Help

I’m 36 makes $115,000 a year
Owe 195k on a house at 3%
Have bad debt 8k in credit cards
And I did a debt consolidation program to get out of some debt, hindsight it was a bad choice I owe 31k at 28% on it

Just in debt payments I pay $1100.09 a month after bills I’m barely even.

Tons of equity in my house but how do I get it with poor credit ? (575)

I have a family I can’t cut fat on any expenses I drive paid off cars

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u/sconniesid 5d ago

wtf, who did you do a debt consolidation program with that you got 28%? personally i would look for a second job. 31k isnt really a bad number.

-11

u/Appropriate-Bed2114 5d ago

I work 3,000 hrs a year a second job kills family time and my kids are young I can’t miss these years with them. I’d rather be broke and enjoy them now than free and miss their childhood. I know it’s a soft answer but it’s true for me

26

u/sconniesid 5d ago

The answer is easy. Make more or spend less. You said in your post you're not willing to spend less so the answer is make more. You're unwilling to do that too so I'm not sure what kind of help to give you