I use AMEX HYSA currently at 3.5%. Online and Mobile experience is integrated with my card online. Have had it for a while, never an issue, simple and easy.

I would not pay down a mortgage with such a fantastic rate. That is the right answer financially. You can do better than 3% with zero effort and low risk by dropping the cash in a HYSA.

Others see value in the security of owning their home and having no mortgage and that brings them peace of mind. Nothing wrong with that, but this is a financial sub.

I do not understand the "pay my wife back" part, but I guess thats a different matter entirely.

This all comes down to state law. Given the duration of the marriage I suspect he has full claim to half of what are "marital assets". He needs to have an attorney and not represent himself. Especially given that she has the means to hire one as well.

Even if they decide to mediate, he should still seek legal advice and talk with an attorney.

I personally use a spreadsheet. I never found an "app" that was simple enough to use and didnt bombard me with ads or use my data.

Its easy enough and I am able to customize it as needed etc. Mine is as simple as Columns across the top for account balances, and essentially a ledger of payment activity for my checking account that I use to pay my bills. As I enter, it adjusts the balance, and further down are my budget amounts/sunk cost funds that I offset based upon actuals. I use a credit card for all purchases and as soon as transactions post, I make payments and track them in the ledger with offsets to the budget accounts. Clean, simple and I know where every single cents goes.

Renting buys you the benefit of optionality, and time to wrap your head around what you want. No need to rush & compromise that process. Take the time to decide what is most valued by you and what is most important. The rest will fall in to place.

If I were you, I would in no way consider this. I would tell my spouse "Honey, we both love them; but no, this is a deal breaker for me."

The nightmares that can come of this are numerous. I just don't see the upside... Anywhere.

Congrats on the new gig! Wonderful news for you & spouse!

What can you do? That's really a matter of the math and what you're willing to give up. You and your spouse need to be on the same page here, because either one of you can sink the plan. A plan has to be executable or it is done as soon as the ink on the paper is dry. Be balanced, not punitive.

If you aren't already, consider a very strict budget and understand where ever single cent in and out of your checking acct is going. Doing this will help you understand where your money is going and what choices you are willing to make. What are the expenses that can be removed, reduced? Is there an expensive car? Is there a better rental option?

Check out the wiki and prime directive content here. There is a great flowchart.

Kudos for saving as much as you are. You are the exception rather than the norm.

If I were to suggest any tweaks (you're doing just fine!) I'd perhaps seek to put more in to the Roth or 401k - your future self will thank you! Time is on your side there.

Check out the prime directive on this website if you havent already. (in the FAQ/flowchart)

Potential enhancement to the budget always is a good practice IMO. If you don't already have them as part of your budget, consider some sunk cost funds to offset things you know are coming. Vacation, car maintenance, etc. It will give you even greater control.

Jumping in on the bandwagon to max your 401k if you already arent and supplement the differential with these stocks, using the dividends and sale of the stock as needed to replace your income that you are now diverting to your 401k max.

You'll get your money back, to process just takes a bit of time and it stinks because it is your bank acct that was depleted. It just takes some time.

Once you file a dispute and say why your bank is going to issue you a new card.

Mathematically, at those interest rates, it doesn't make sense to pay off the house. While Dave Ramsey will tell you otherwise, you are better off financially by investing the cash (even in a HYSA at today's rates) and not pay off the mortgage. Ramsey has great advice about avoiding high cost interest debt, but that is where the quality of his advice ends. (Investment and otherwise.)

If your worst case scenario happens and you lose a job/earning is impaired, you'll still have the cash invested to pay it off should that be a choice you make.

Some are really driven by not having a mortgage and the feeling of owning your home. There is nothing wrong with that either, but it is not the best financial decision given the data points you've shared.

Married. Filing Jointly will likely result in the best outcome.

There are exceptions to this, but they are unusual. (Google: Why file married separately and you'll get loads of sources citing when)

In short, yes disconnect. You're and adult and they are not your dependents.

If you want to help them, write a check.

Not a lot of income/budget info, so:

The increase in your escrow is an interest free loan. If I were in your shoes I would avoid stretching it out longer with a loan which would add interest.

In short, I'd look to cashflow it as much as I could with current savings and within my current budget.

The overall shift in mortgage payment from 1100 to 1650 (after you cashflow the shortage) is the longer term question.

If you don't budget, I'd start. It will answer a lot of questions about options down the road.

If I were in your shoes I'd read the FAQ here and read the flowchart.

It depends on the rate of the loans.

I would start budgeting every dollar so I know every dollar coming and going. Understand where the money is going (want vs need). Building that muscle while you are at home will be easier and helpful for when life get more complicated when you're out on your own.

If I were in your shoes, I would:

1. Begin budgeting everything and watch every dollar coming in and going out of your checking account. This will help identify areas of optional spend, the sooner you increase the amount of $ going to debt, the sooner the bleeding stops.
2. Do not stop contributing to your 401k to the degree you're securing a match. Every other penny, go after the debt.
3. I'd absolutely move to a lower interest option card if I was able.
4. I'd stop using the cards AT ALL, until the debt was gone. I'd be concerned my habits would have be using the cards for routine unbeudgeted spend while trying to pay it down, which goes against the intent to get rid of high cost consumer debt.
5. I'd make Step one my new religion.

Cheers and wishing you the very best.

I looked at the comments wondering how long it'd take for someone to say precisely that.

Glad you are out, and keep up with the self care. Cheers!

I'd also like to know where there are "good" fishmongers out there. I know of City Fish on the Silas Deane Highway in Wethersfield.

Any others?

Give the money guy podcast a listen, also look at the wiki here/prime directive. Absolutely max our your 401k contributions. First and foremost, fight the urge to raise your lifestyle/expenses to the new salary. Manage your budget and be deliberate. your future self will thank you.

1. Have a few months of emergency savings/enough to cover your deductibles.
2. Get rid of ANY debt you have in that $650 budget. (Car, Cards, Loans etc.)
3. You can start setting aside more in the format you choose (brokerage, etc)

Lots of good info out there. Cheers and congratulations on the new gig!

Pay off those cards. And don't use them at all unless you are paying them off every month.

Don't use credit cards for emergency purposes, work to build an emergency savings account.

Keep your car. Set aside an emergency fund to handle potential repairs with some of that 5k, and send the rest to the car note. Keep paying more than the payment until it is gone. The negative equity is a result of a past bad decision, eliminate it ASAP and don't allow it to continue.

Do not skimp on the maintenance of the car. Take care of it.

Rolling your negative equity into another car is guaranteed to make your debt problem worse in order to avoid a situation that may happen. A car transmission problem may never occur, and is even less likely if you maintain as appropriate.

Can you? Yes.

Is it a good idea? There isn't enough info here about your budget, how in tune you are with your real expenses and the gap you need to cover, the duration of the gap and if there are dependents.

Taking care of your mental health is incredibly important, but so is being able to have expenses associated with food clothing shelter and transportation covered.

While the interest rate on the LOC is high, you have a significant life event coming (congrats about that!) and that has to factor in here.

If it were me, I would absolutely pay off the credit card today to stop some of the bleeding. I'd keep a chuck of the savings in place for emergencies and just in case before your child arrives.

Then, when you have your child home and things are settled, your budget is known etc. then you can make adjustments you are comfortable with and perhaps run at the debt again. You've got this.

As you look to pay down debt, dont forget to keep the car payment on the list too. The sooner you are without high interest debt, the better off you are.

Best wishes to your growing family, wishing you health, peace and prosperity!

>I not familiar with what you’re saying in that second paragraph …. How would that free up my income more?

If you have money sitting in a brokerage, and there is enough to finish your emergency fund and/or pay off a loan you have, then you will have more income that would have been going to build the emergency fund, or going to that loan, that you could deploy elsewhere.

In short, fewer of your incoming dollars would have a "job" when the emergency fund is done and the loan is gone. That is then free capacity.