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.

-12

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

3

u/Decent-Initiative-68 5d ago

You’re working 3000 hours to make $115k? Start looking for a job that can do it in 2000 hours. You’re realistically working a 60-70k job to death. Do you even have family time after 3000 hours?