Love this! ❤ If I were in this situation, I’d do this slightly different. The first five loans listed are very minimal. My take on this would be to use the $285 Ira suggested for the debt snowball and delay saving for the IVF for 5 months and put that $ 1000 ear marked for savings toward those first five loans as well. They would all knocked out but November. Starting in December, $1285 goes to saving for IVF. After those little debts are paid, it will only take about 7.5 months to save for the first round of IVF Here’s the cool part. The total minimum payments of the first five loans is $715. I’d add this to the $500 on the big $40k. Time to debt free only a month or so faster. I believe the budget would be so much simpler and less stressful when you don’t have debt hanging over one’s head and it would give a new family some wiggle room.
Personally I’d do 500 in IVF and put the other 500 to debt, because having a child is financially exhausting (I have 4) and getting debt free with kids is so difficult, not impossible but you just have so many more annual expenses. Like our food bill went from 50 a week to 250 a week once we had kids (inflation did a number as well) so you really gotta save for future as well maybe even once you pay off debt I’d recommend starting a future expenses fund, just to cover the extra costs 💕 If it’s a timing issue perhaps look at putting money toward it from gifts or any overtime you work. The other thing is there was nothing about pet food or general care etc which probably needed factored in as well. I do hope their plan works out though and that they are able to have the future they hope for.
I would even suggest not debt snowballing the 40K so the extra $1K snowball can be used on IVF as that is time sensitive and if that final debt takes longer to pay off as a result it would probably be worth it!
I would spend the next 6 months paying off as much debt as possible to reduce the debt pressure and at the same time work on getting mine & my partners body as healthy as possible in preparation for IVF so it has a better chance of taking. All the best with 🤰
that internet is probably a plan where the more you use, the more you pay up to a cap of 90. That gas and electric is cheap as for New Zealand. going on that rent, I wonder if they are in some sort of social housing, where water is paid
I love this series. NZ rents are astronomical-super worried that $400 might be weekly not monthly?. Unless they own their own home outright (and in that instance rates and water would be this amount) ir are staying with family, and if so, would having a family change that? 🧐 great video Ira. you did well with the info you had🥰
Yeah, that was my thought too =/ I think NZ and AUS usually have their rents weekly vs monthly. I feel like that should have been something noted though
@@madamkiwi1094 yeah. im iacross the ditch now but came back last year for 6 months to care for my dad as he passed away. So expensive, honestly dont know how anyone affords it. 😞💖
i would pay of debt first. having a child don't come cheap i had two. both grown up now but they always say you are always skint if you have kids or a car both true
That rent is not normal in the US! I live in Florida and rent for a one bedroom is over $1000 a month. Also the income is higher than normal households. Also electric is approximately 300 a month.
Just found this channel! Really love you as a host but PLEASE get a more stable surface to write in, it shook so much I got travel sick just watching 😂
Good video. I like your snowball for the debt, but as someone else stated, it might be good to get out of debt before trying for a child. At any rate, I wish this couple success on their way to parenthood.💛💛
Love this! ❤ If I were in this situation, I’d do this slightly different. The first five loans listed are very minimal. My take on this would be to use the $285 Ira suggested for the debt snowball and delay saving for the IVF for 5 months and put that $ 1000 ear marked for savings toward those first five loans as well. They would all knocked out but November.
Starting in December, $1285 goes to saving for IVF. After those little debts are paid, it will only take about 7.5 months to save for the first round of IVF
Here’s the cool part. The total minimum payments of the first five loans is $715. I’d add this to the $500 on the big $40k. Time to debt free only a month or so faster. I believe the budget would be so much simpler and less stressful when you don’t have debt hanging over one’s head and it would give a new family some wiggle room.
This is actually a really good point tbh. Debt def needs focussed first imho
I like your sensitivity to the things that are important to them.
Personally I’d do 500 in IVF and put the other 500 to debt, because having a child is financially exhausting (I have 4) and getting debt free with kids is so difficult, not impossible but you just have so many more annual expenses. Like our food bill went from 50 a week to 250 a week once we had kids (inflation did a number as well) so you really gotta save for future as well maybe even once you pay off debt I’d recommend starting a future expenses fund, just to cover the extra costs 💕
If it’s a timing issue perhaps look at putting money toward it from gifts or any overtime you work.
The other thing is there was nothing about pet food or general care etc which probably needed factored in as well. I do hope their plan works out though and that they are able to have the future they hope for.
I would even suggest not debt snowballing the 40K so the extra $1K snowball can be used on IVF as that is time sensitive and if that final debt takes longer to pay off as a result it would probably be worth it!
thats what i was thinking!
We all have different budgets must do what you can.
I'd pay off as much debt as possible before trying to start a family
I would spend the next 6 months paying off as much debt as possible to reduce the debt pressure and at the same time work on getting mine & my partners body as healthy as possible in preparation for IVF so it has a better chance of taking. All the best with 🤰
great budget video again! really interesting. I wish them every success for the IVF journey 🧡💛
These are my favorite videos Ira! Very helpful
Yeah prices in other countries are quite expensive like in Canada. Great ideas. 🧡
As someone who has done my fair share of ivf, I'd recommend this couple look into treatment abroad. It can be considerably cheaper.
Thank you for showing how you did the debt reduction plan. It's something I really need to do. 🧡
Sometimes water is included with rental properties! Maybe
In Australia you rarely pay for water in rental properties.
Some towns don’t pay extra for water, or it is included in rates
that internet is probably a plan where the more you use, the more you pay up to a cap of 90. That gas and electric is cheap as for New Zealand. going on that rent, I wonder if they are in some sort of social housing, where water is paid
You talked them through a budget that seems like it will work. 💛
🧡do you not anyone else. I watch a bunch of videos so I understand. Work with what you have
I love this series. NZ rents are astronomical-super worried that $400 might be weekly not monthly?. Unless they own their own home outright (and in that instance rates and water would be this amount) ir are staying with family, and if so, would having a family change that? 🧐
great video Ira. you did well with the info you had🥰
Great breakdown of the changes. 💛🧡💚💙💜❤️🖤
Yeah, that was my thought too =/ I think NZ and AUS usually have their rents weekly vs monthly. I feel like that should have been something noted though
I agree, rent is usually weekly in NZ....which would suck up all their spare cash - which lines up with experience of living in NZ 😅😢
Yes cheap rent here in New Zealand is 400 weekly
@@madamkiwi1094 yeah. im iacross the ditch now but came back last year for 6 months to care for my dad as he passed away. So expensive, honestly dont know how anyone affords it. 😞💖
Loved this video puts stuff in perspective 🧡
Another great budget bestie. 💛
i would pay of debt first. having a child don't come cheap i had two. both grown up now but they always say you are always skint if you have kids or a car both true
That rent is not normal in the US! I live in Florida and rent for a one bedroom is over $1000 a month. Also the income is higher than normal households. Also electric is approximately 300 a month.
❤ good afternoon ❤😊
Oops great budget suggestions… 💙💚💜❤️🖤🧡💛🎉
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Just found this channel! Really love you as a host but PLEASE get a more stable surface to write in, it shook so much I got travel sick just watching 😂
What are yr favorite budgeting channels?
I need some New vibes... tx
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I am The first that îs seeing this video. 🧡
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Good video. I like your snowball for the debt, but as someone else stated, it might be good to get out of debt before trying for a child. At any rate, I wish this couple success on their way to parenthood.💛💛
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