I have been reading posts on here that makes me feel really shitty about myself. People (my age or maybe a little bit older) have crazy amount of money and I (41, f) feel like I a m soooo behind. My husband and I had kids late, we have two toddlers, and dont have much saved at all. I got a high paying job 1.5 years back, been using that to bring us out of a very steep hole, we were $90k in stupid debt, credit cards, loans ..etc, have made sooo much progress, last 2.5k to go, and I am proud of us but have only $3500 saved for a rainy day. We own a house which we bought in 2021, so the interest rate is really good, so we are ok there. But everything else is not so great.
Savings: $3500
401k: $50k (husband) + $10k (me)
No savings for kids education
Got RSUs from my job, which will be around $70k, which will be vested in 2028, so thats just on paper for now.
Monthly income (combined): $18k a month
Expenses: childcare $4k
Mortgagr: $4k
Car payment: $1300 for two cars including insurwnce
Bills: $1100
Loc pmt: $1000
Debt payments: 4k
Spending: 2k (this includes groceries, gas, kids stuff etc)
We have dual (Canada/US) citizenship, so we hope to retire in canada where Healthcare is free.
After this debt is paid off, where should our money go?
For context: my husband is 43, I am 41. Kids are two and four. Had to live pretty frugally to pay this debt down..even though we make decent money.
#money #finance