Most of us just grin and suck it up and spend whatever we need to during the holidays. My friend, who recently moved out of his family's home and into his own shared with me that he's broke and will have only a few pieces of furniture for a month or two.
If you've been keeping up with the story you'll know that roughly a year ago my friend moved his wife and three kids in with family to get out of debt as they were about to go under.
Well, one year later, here's the latest report.
Money saved, NOTHING.
Bonus spent on new housing
Looking forward to income tax return to purchase new furniture
Still has two car payments
Paid off wedding stuff
Paid off a few other bills
Still has the majority of bills to go.
One day woke up and decided that living with in-laws was not a good idea.
The original goal was to pay off every bill save a few bucks and move back on their own.
They are now on their own with nothing saved and the bulk of the bills still hanging around.
They didn't spend lavishly on Christmas, but still spent.
What was learned? I'll update you when I get the answer.
David
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