I am really struggling with this. I work very hard, I completed advanced degree (BA and MA), but have heavy student debt, a house that is belly up, and a lot of CC debt. Husband lost his job, I've tried to cover us, and debt just continues to grow. We have not been married that long, so house and my credit cards, student loans are separate. As you can imagine, it's taken a toll on what started out as a promising marriage. Good news is, I have a good job, good credit score, but a few cards are just about maxed out - so I'm not sure if credit score matters any more, actually! It is a struggle and I am broke. This is why:
Salary: Net: $3500
House: Owe $285K - value:$145K (I don't qualify for loan mod - because, on paper - I can make my payments!)
Car: Owe $30K
CC Debt: $45K
S Loans: $80K
Total Expenses per month: Mort: $1272; CC: $900: Car:$400; Ins: $80; Food: $240; Gas: $200; Utilities: $300; Cell; $65
Husband tries, but doesn't make much. Keeps looking for a better job - not much luck; All bills are current, but I haven't got much left over! So friends, family can't understand when I can't go out for dinner, lunch, visiting them when they live far away. Colleagues bragging about expensive trips and asking when you are going? Keeping up appearances got me in this situation, but they think I'm joking when I say "I can't afford it"! They think I'm successful! I want to laugh! House needs repairs; new appliances, etc.. I just feel ashamed and embarrassed that I let myself get in this situation. I think I've been an idiot with money and I know it's my fault, poor choices. But what do you say to convince people - hey I just can't afford it when they insist you do something and just don't get it?
Feedback, anyone?
Salary: Net: $3500
House: Owe $285K - value:$145K (I don't qualify for loan mod - because, on paper - I can make my payments!)
Car: Owe $30K
CC Debt: $45K
S Loans: $80K
Total Expenses per month: Mort: $1272; CC: $900: Car:$400; Ins: $80; Food: $240; Gas: $200; Utilities: $300; Cell; $65
Husband tries, but doesn't make much. Keeps looking for a better job - not much luck; All bills are current, but I haven't got much left over! So friends, family can't understand when I can't go out for dinner, lunch, visiting them when they live far away. Colleagues bragging about expensive trips and asking when you are going? Keeping up appearances got me in this situation, but they think I'm joking when I say "I can't afford it"! They think I'm successful! I want to laugh! House needs repairs; new appliances, etc.. I just feel ashamed and embarrassed that I let myself get in this situation. I think I've been an idiot with money and I know it's my fault, poor choices. But what do you say to convince people - hey I just can't afford it when they insist you do something and just don't get it?
Feedback, anyone?

Comment