In my last post, I broke down the situation. After getting back from my dream honeymoon, my new husband and I were faced with his (totally unexpected) unemployment. Our income went down by around 65%.
As the month rolls to an end and my husband’s severance package stretches us until November, we will have to face some looming questions regarding our bills.
In order to give you a full picture of what we are facing, I’ve decided to list my personal and shared debts. This is going to hurt. But it’s time to sit down and do this anyways.
Credit Card Debt:
The first card listed (Capital One Personal) was applied for and received when I had graduated from high school. I used the majority of this card to pay for college and travel expenses. Probably only $300 of the debt was accumulated in the last two years.
The second Capital One card is our shared Venture card under my husband’s name. We have used it for the honeymoon and wedding expenses. We paid 50% of it off before we went on our honeymoon. We planned on paying the rest off when we got back.
The US Bank card is my emotional history card. Basically, my hard-up-on-money-mother used this card (with my permission) to pay her debt. She has not paid me back and cannot pay me back. I faithfully pay $100 a month on this card and use it rarely.
And finally, I have a Best Buy card that I applied for in college and used to buy a computer and a modem.
I also have a David’s Bridal card that I used to buy my wedding dress but is fully paid off and I do not plan on using it. I am debating on if I should close the account or keep it open to help my debt/credit ratio.
All of this is pretty self explanatory. All but the top are my undergraduate loans. The first one is my graduate loan for a couple of classes I took last year. Hey- I’m not proud to have student loan debt. But it doesn’t take someone with a Bachelor’s in Education to know that I’m not the only one in my age group to be looking at these kinds of numbers.
I also have living expenses to factor in. Here’s the breakdown of our shared and personal expenses:
Ok. Now that I have picked myself off of the floor… I’m looking at this with tears in my eyes and a heavy heart. In total, my current debt payments are $481.01/month. Put that together with our monthly obligations, I owe $2261.84.
In total, I make $2,260/month post taxes and benefits. In addition, my husband will hopefully get unemployment starting in November, That money will most likely cover his personal bills that I did not list. I also should note that I included some bills that I have not paid for in the past. Rent, Hulu, and groceries, for example, were bills that my husband handled out of his own pocket. They now become mine.
*What this doesn’t include is my husband’s student loans (which will be deferred until he finds a new job), his cell phone, and his personal credit card bills. We also both see a therapist weekly. So that’s an additional $200 a month not reflected here. *
I’m really not sure what else to say about this. I guess that’s what happens when you look at everything honestly and with a ton of pressure. A part time job is sounding more and more appealing now that the holidays are coming up.