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Home > Ask The Get Out of Debt Experts > I’m Tired of the Stress of Living Under the Financial Pressure. I Want to Live Below Our Means. – Janece

I’m Tired of the Stress of Living Under the Financial Pressure. I Want to Live Below Our Means. – Janece

“Dear Andy,

We moved to GA a year ago. I hae a job but hubby had a hard time finding work. We got a great deal on a home but were at the cap of what we could afford. The kids have finally settled in to school and love the home and kids in the neighborhood. But I am miserable! Hubby couldnt find work for a long time and we accumulated about $10,000 in debt with the move and living in the mean time.

We have two cars that we are upside down on. 1 is about $8000 and the other about $3000 upside down. He has found work but it is minimal and we are not getting caught up the way we thought we would. My job is on shaky ground due to the economy in GA and there is a threat every day that I may be laid off. It is a very stressful job and I would be fine with a layouff and finding a less of a career job but my income pays for everything.

We have the big house, nice cars,cc debt and a job to barely pay for it and I am miserable. I would like to just sell the home. I was told by three realtors that I could walk away after fees with about $15,000. This would pay off the negative on the two cars. Buy two cars cash and get into a rental that is about $1000 a month cheaper. We could then chip away at our credit card debt and if my job went south ( I see it comming) we would be okay.

Our credit is shot right now as it is as we went 30 days late on some payments ( caught up now) We could not buy again for a couple of years anyway. But this home is a huge investment… we got a killer deal and it is on a lake, cauldesac, swim tennis and will be worth alot some day… but right now there is so much money tension and stress it is jeapordizing my marriage and our quality of living.

I dont want it anymore. I see the mistakes we made and I want to live below our means… but is it the right thing to do financially? I feel like living this way paycheck to paycheck and in one high paying stressful job is no way to live at all. We are just paying mini mums and not saving or digging ourselves out!

Should we sell our home that is potentially a really good investment in years to come to pay off debt, get out of car payments and start living?

Janece”

Dear Janece,

I think you know what you need to do. You outlined a perfect scenario that would get you out from under all the financial pressure, and allow you to start moving in the right direction again. In this case I say go with your gut, and sell the home. The extra $1000/mo would go a long way.

Yes the home may become a good investment down the road, but how much will you spend and suffer to see that day come? Once you begin living within your means and saving money you will have the opportunity to look into many other investments, probably even better.

Good luck and keep us posted.

Andy is a licensed real estate broker in Massachusetts and is the founder of Northeast Properties in Norton, Massachusetts. His brokerage is designed to help homeowners in today’s difficult real estate market, specializing in short sales. Andy speaks with Massachusetts homeowners every day, helping them to address their questions or issues with short sale or loan modification. He enjoys helping consumers arrive at the correct solution to their problem, and believes that the only way to correctly do that is by presenting them with all of their options in an un-biased manner.

If you have a mortgage, short sale, real estate, or loan modification question you’d like to ask just use the online form. I’m happy to help you totally for free.

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About Andy Faria

Andy Faria
Broker/Owner of Northeast Properties – real estate brokerage President/Owner of Northeast Settlement Group – performance based debt relief

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