Submitted by meltingcouch t3_11ix0ei in personalfinance
Title says it all. I am 33 years old. I've been, for the most part completely irresponsible with my money since I started working as a teenager. I currently do not have a savings account, I do not have a 401K, I do not have any investments. I am not sure where to start in all of this but let me give some background on my current situation and expenses.
I am currently bringing in $71K per year. My partner is full time employed and brings in 72k per year. Totaling us around 140k.
The company I work for was just sold and is being acquisitioned. We were informed that my specific department is not conveying. We were automatically contracted to the new company and we have two weeks left before we are cut. However, there is a 2 month severance package with my current full pay headed my way. My current position is also remote so I am not driving to any facilities. I am frantically searching for another position at the moment but expect my new position will put me somewhere between $75-90K.
My partner and I just purchased a house back in January. My partner and I just found out we are pregnant as of this week.
Current debts: Car loan - 6064.35 @ 294 / MO House - 407303 @ 1497 / MO
I have no credit card debt and one credit card. This is paid off monthly.
My credit score is in the upper 700s
My monthly expenses: *Cell phone - $65 *Electric - $170/ my half for our total $341 *Car Payment - $294 *Car/motorcycle insurance insurance - $113 *Gym membership - $15 *Spotify ( music ) - $10.59 *House payment - $1497 / my half for our total $2,994
We have stopped eating out and have recently gotten more frugal about meal prepping and our grocery bill usually floats between 100-200 per week for food.
My current assets are a single motorcycle valued at about 5K.
My bank account is sitting around 5K at the moment. My partners is sitting around 16k.
Hit me with the bad news and some suggestions as to where to start budgeting / savings for retirement. Thank you everyone!