Feeling Pretty Screwed!
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|Wed, 03-05-2014 - 12:13am|
Just need to vent a little about my situation as it's pretty miserable and I can't figure a way out.
We've been carrying a ton of credit card debt since the financial crisis of 2007/2008. By a ton, I mean at it's height it was about 100K in credit cards alone. Right now it's probably around 50K. Our mortgage payment is going up by anohter $500/month and i'm trying as hard as possible to refi or do a loan modification before it adjusts in April. We're facing about a 30K tax bill for the year becuase we sold an old rental property and now have to pay capital gains tax. we only netted about 12K on the sale, but still thought it was a good idea. Figured we'd be able to save the difference by tax time, instead, of course, we spent it. We actaully live pretty frugally but our monthly expenses are jsut higher than our income so we're negative every month. Truth is it's that we haven't been able to make the hard choices. We live in a really expensive area, and we don't wnat to change our kids lifestyle...which is really not extravagant at all. We don't take vacations, rarely eat out, don't spend money on fancy stuff at all. We're jsut paying so much for our debt each month taht it makes us go into the red month after month.
I try so hard not to stress my wife out by all of this and I know she appreciates it and trusts me. I jsut feel like a complete moron and that every financial decision i make is wrong. I know i'm not that stupid but these decisions are really hard and digging out from this hole has been so demoralizing.
I tyry to think of ways to make more money ... every day. I just can't figure it out. I feel like i'm just thinking about it all wrong. I'm embarrassed to tell anyone about our situation and taht makes it even harder. I just can't figure out how to get out of this mess and it's completely debilitating.
What to do...