23 M, quit my job, $45k savings. Just found out she’s pregnant

[lisette]

@resjudicata Yes, even higher thus the return of the venture.

Think of it like sales, but not sales.

I’m paid by my performance, so margins are really 95%+

Also I’m not using any of my savings in the venture or money, it’s the firms money.

 

[barnetfc]

@lisette Some firm was (and now still is) free rolling you with zero risk while you were working a $19/hr hourly?

No offense dude but none of this is adding up to me. What exactly are you doing lol?

This feels like a major scam or has some obviously large risk that you’re not disclosing.

 

[cherylmae]

@lisette the interests rates make your saving irrelevant.

why wait to pay it when you can pay it in full.

 

[fgalarpe]

@lisette In the end you’re losing money this way.

 

[kristyjohnson3679]

@lisette You could look into applying for a balance transfer credit card (one without an annual fee). Credit karma dot com can be a good place to start. If you qualify they usually have 0% interest for 1+ years. There is usually a 3-5% fee on the balance you transfer. The break even point for a 5% fee assuming you're paying 22% interest is about 2.7 months. Meaning if you don't plan on paying off the debt within 2.7 months it would save you money by paying the fee to transfer it to a 0% interest card.

Math: 22% annual interest / 12 months per year = 1.83% interest currently paying monthly. 5% fee / 1.83% interest per month = 2.73 months break even.

 

[candytails101]

@lisette You can take another shitty loan later if needed. You don't need it right now. You are paying a premium for no value added.

 

[jonlv]

@lisette No pay off your debt with your next two checks

 

[schneila]

@lisette 22% interest isn’t “rough” it’s disastrous. You NEED to pay it off asap

 

[lindseynicole12]

@lisette You effectively do only have $30k in savings, except actually less when you factor in the interest payments.

 

[present]

@lisette Listen man. I saw you love your car. But when your kid is born you’ll love your kid a million times more than then you love your car.

Just be responsible now and get rid of it. It’s cleary a financial anchor and you aren’t in a position (yet) to justify that much spend on a vehicle.

Be responsible, be patient. It’ll work out and you can circle back a little later in life.

 

[lisette]

@present Dang. I might have to do it.

Might be tricky w/ the mods I got on it, but you’re right the child should come first. It’s time to grow up.

 

[jessy200]

@lisette How much do you owe on your car? If you like the car and dont owe much or can pay it off quickly, you can keep it.