Ep. 23: Jennifer Avoids a Financial Crisis

Meet Jennifer

Age: 34

Salary: $34,000/yr (+ bonuses)

Employment: Sales

Jennifer’s main concerns, in their own words:

My husband and I got married June 2014. I own a house  that I bought in 2009 before we met. I purchased it for $110k, still have $99k but I pay bi-weekly so I get in an extra payment a year. One of the FEW smart financial decisions I feel I’ve made in my life!
I have about $15k in credit card debt across three cards and almost all of them are 90% maxed out. I have a very small retirement fund that I contribute very little to each month.

My husband is the saver but we have very little in savings, only about $4,000 in our emergency fund. His only debt is a small student loan. I make $39k/year with potential for about $10k+ in bonuses. My husband lost his job Tuesday. Laid off his entire department. No warning! We had planned to put our house up for sale next week. How do we brace for a potential crisis with little time or planning? And how do we get back on track to tackle debt and save for the future?

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