Disclaimer: I am new to understanding finances, and still don't have that great of a grip on it, so take my advice for what it's worth....not much.
Here is what I would do:
1. First of all, pay down the credit cards aggressively (as quickly as humanly possible). Don't change your lifestyle at all, unless you downgrade of course, until they are completely paid off. (then once the balance is $0, you will want to continue using them for just one thing every month, liike gas only, and pay it off each month, because using the card monthly improves your credit score (as far as I understand), which is important to have). So I'd keep at least one card, and use it monthly for your credit score.
sidenote: With the $2,000, I would try to strike a balance between paying off the credit cards and still keeping some of that for emergencies. It is important to have an emergency fund, because that prevents you from having to put more on a credit card when something bad happens, like an unexpected car repair or a speeding ticket. So I'd keep at least 1,000 in the emergency fund (savings account). But how much you need in emergency funds (aka, liquid savings, something you can access right away) will vary based on how many people are in your family, your monthly expenses, and what could go wrong.
2. Once credit cards are gone, start building up your savings account. I am confused if that 6000 for the RN is something you are paying or your parents? If it's you, start putting lots of money in your savings account, so you can pay for that with cash, not float it on a credit card or take out a student loan (which are worse than they seem, trust me). If I were you, I'd goal to have at least $10,000 in your savings account, at least to start out. If not, $20,000, since 6,000 might be for school and since your husband may need a car in a year, etc. Since you have children, having liquid savings is important if something really bad happens to you and you can't work, etc. Suze Orman says to have 8 months of an emergency fund in savings.
3. So you'll be working, huh? Congrats on that. :) Is your employer going to have some kind of 401k plan for you? I would personally start contributing like $20 a month to it, just to know you are actually doing something (for the principle of it), until CC's are gone. Then build the emergency fund, while maybe upping retirement contributions. I'm not sure if nurses have the benefit of your employer matching your 401k contributions up to a certain point, but if that happens, it will probably happen after you've been employed for like a year? But when/if that happens, you always be sure to match the employer's contribution up to the limit, because otherwise, you are passing on free money. And that is free money that will grow to become a lot more by the time you are 65, not like the kind of free money that's, "a new car!!!!!" which will be worthless 30 years from now.
So whether it's a 401k, or whether it's opening up a rothIRA, etc......the whole point of this #3 is that you need to start getting in the habit of saving for retirement now, in some kind of organized fashion, not just in a liquid savings account. This is more important than saving up for your next home, in my opinion. Saving for a nicer home would be #4. Start the habit of saving money every month for retirement now, because startign at the age of 28 vs. age 33 vs. age 40 are all huge differences....."the time/value of money".....basically, money compounds itself, and the earlier you start, the amount will go up exponentially as you age. If you were to project it out (which I don't understand the calculations but my husband does and he shows them to me), you would be amazed at how X amount now is vastly different at age 65 by starting a few years earlier (late 20s vs early 30s). It's just how exponents and compounding works.
Once you start thinking about all these things, you'll be amazed at how tripling your income is really not going to make as big of a difference in your lifestyle now as what you would think, considering you owe thousands in credit cards and are just starting out as a young family, establishing savings. I know investing and saving isn't glamourous, but by asking this question, you are showing interest in your future and being smart with your money. The truth of the matter is, it's the right thing to do and you will be in better shape than most Americans for doing it!!!!! Your "net worth" will go up exponentially as you start investing and saving instead of spending on things like a new TV, a night out, etc. You are loving yourself and making your life important, by taking care of yourself for the future, and giving yourself peace of mind (aka, you won't develop panic attacks at the age of 35).
The bigger shame would be to find yourself 10 years from now in a place where you look back and say, "wow, I just worked for 10 years, but where did all my money go? I spent it all and I'm in no better shape than I was in my 20's." So be disciplined and invest! :) And don't invest in things where people are making a commission off you and so of course they say it's a good idea. Be savvy when it comes to stuff like that. Watching the Suze Orman show online or on CNBC has helped me with that.
Another thing to think about, since you have children, is term life insurance. NOT whole life insurance, which is supposedly a rip off. Since you are young, it should be pretty cheap. If you or your husband should die, God forbid, things wouldn't change too much financially at least.
One last thing, is be very encouraging to your spouse, and try to help him find something stable. It is amazing how just believing in someone and encouraging them gently, reaps rewards. Try to help him brainstorm ideas on how he can keep the same job for awhile, or how he can up his earning potential. Once you start paying down things and saving, you'll probably start asking yourself how you can end up making even more. The feeling of financial security can get addictive, so you might as well maximize both of your earning potentials. Always build your husband up verbally, and make him believe in himself, and believe he can do it. I think if he sets some goals, like says, "I want to be able to earn X dollars a month so we can put it towards ______ (saving for next car, building our children's college fund (I think it's called a 529 plan?)etc)" he will find a way. So don't let the fact that you guys are making more, allow him to get too comfortable. It is nice when both partners can feel like they are contributing in a solid way to finances. So if you encourage him and set goals together, maybe he can find a way to make more too, just because he is feeling optimistic and in control. I find when things are planned, I feel more in control.
Hope some of that helps!!!!! Sorry so long.
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