Do You Have Money for College, a Wedding or Divorce?
The Oprah Winfrey Show | March 04, 2009
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Before Ken lost his job, the couple made a combined $4,500 a month. With only Deb's income, the household total will decrease to $1,645. Monthly expenses that will not decrease total about $4,300 each month. The couple also has $10,000 in credit card debt. Despite their precarious financial situation, Suze approves Deb for a divorce. "In this particular situation, if they were to sell the house, there is enough equity in the house to pay off their mortgages for them to have $10,000 extra to pay off the credit card debt and for them each to have $5,000 to start over in renting an apartment," Suze says. Suze says Deb could rent an apartment for about $800 a month. "And on everything else that I figured for her, she could live in that apartment with her children and make it for $1,645 a month, also assuming that one day Ken will have to pay child support when he does get a job," Suze says. |
