Brought to you by the Every Dollar App. Start budgeting for free today. Isaac is up next in Columbus, Ohio. Isaac, how can we help?
Hi, so I have a question. So we'll back story here. So my wife and I just got married two weeks ago today. Oh, very exciting.
Oh, yeah, thank you. So we have a little bit of debt between ourselves. She had to get a car about a year ago. With her trading and everything, that was about $8,000.
And then I think her car right now, before interest, is $18,000. My car is a little older. My car payment will be $8,500 to pay off, not including the interest. So about two more years on that, expected.
And then a couple of thousand in credit card debts. Aside from that, we don't have any other debt, no loans. We don't have a mortgage yet. We're wanting to buy a house.
And that's our largest goal. We want to be established in our first home before we start having children. Currently, we're in the one bedroom apartment. And we're kind of buzzing out of the walls.
We're not minimalist by any games. OK, hold on a second. Hold on a second. I want to set some expectations for you, my young friend.
It's just you and the wife. There's no way you're busted out. Unless it's a cardboard box, you're not busted out of it. You know what I mean?
Do you have like seven cats or anything weird? No, we actually don't have any pets because our apartment has a crazy $400 pet deposit. OK, good. But you're not busted out.
You just have too much crap. You have to get ready to go to the good way. We are collectors for sure. Well, then, OK, but here's the point.
The reason I jumped in here, I want to get you back on pace. But this is the kind of stuff that pushes you to make bad financial decisions on a house you think. It's just you and your wife getting rid of all of her stuffed animals or something, whatever's going on. What are you collecting?
I don't understand how you guys are busted out of a one bedroom apartment. Well, it's actually everybody. So we we're like geology and stuff like that. And we like artifacts like just like crystals and like arrowheads and just natural stuff like that.
So we've got shelves of it. But we're trying to we're trying to downsize. We give stuff away to people who like similar stuff. We give away so we can kind of like maintain a healthy amount without hoarding.
Yeah, I was going to say what's a healthy amount of air heads. I mean, how many days can one person have? We got a slow roll with the rock collection. Because we got a pile of debt to clean up.
Now's not the time to be buying rocks. Sure. Yeah, no, we're not really doing that. So it's mainly just going out on going on trails and in river and stuff and stuff that we find.
OK, I'll tell you what you're doing. That's good. Well, but I'm going to tell you to stop collecting rocks and arrowheads and start working extra jobs. That's the thing.
I actually go for my job. I'm a home healthy and I do like live in a position. So three days a week, I'm not home. And my base hours is 72 hours a week.
Oh, OK, I don't know how you have time to find arrowheads with that. So you're not in the apartment long enough to hate it. OK, we're barely there. My wife is in the transitional period of her new job.
So she just got hired. She starts the 23rd of this month. Awesome. Yeah, so she's going to be making take home, estimated about $7,800 a week.
I do about $9 to $11 depending on overtime. OK, so what would be your monthly take home pay between the two of you? Starting in a few weeks. Between the two of us, it would be expected to be around $6 to $6,300.
Awesome. That's great news. So then the question becomes, how quickly can we pay off these cars and the credit cards making $6,300 if we're doing nothing but focus on paying off debt? Right.
And that's actually how we got married so quickly. We didn't want to pay. We didn't want to finance anything. We spent the past year and maybe 15 months, maybe just absolutely saving everything we could, paying things as we go along, just being absolutely crazy with saving because we didn't want to put anything on the credit card.
In fact, because of how crazy we did it, I wish we had had more savings by the time it was done. But do you have any right now? Because yes, we have about $2,300 in cash and about $1,100 in our savings account. OK, you have your baby step one starter emergency fund.
The rest of this money needs to go towards paying off the debt. Do the debt snowball smallest to largest yet on a budget. We're not doing anything except paying off the debt. No rock collecting, no arrowhead collecting, nothing, man.
Bust it. You got this. Good stuff. Thank you, George.
More coming up right after this. This is the Ray of the Show.