No. of Recommendations: 6
First off, within a year is a long time off. Second if there is a risk of his being laid off, that should immediately inspire (and demand that you) stop all bleeding.

You need to sit down tonight and figure out your snowball based on all teh extra's going immediately away. You might be surprised and find that it may be 12 months. Maybe one or both of you could take a small part-time job between now and then....or hell even sell Avon or something for a little extra cash.

I would really think before you jump to the BK route. I have never admitted this on teh board before, but I claimed BK when I was 23. I didn't learn jack from it. I am in more debt now at 35 than I was then. Claiming BK was the dumbest thing I have ever done. For instance.....I called to order Poland Spring service about a year later and was DENIED! I lost a great apartment four years after BK and was DENIED! It is finally off my credit report and I have never missed a payment since, but again I am in debt up to my eyeballs. The main reason I try so hard (besides wanting and needing to be mopre responsible) to snowball is that I want to learn to stop this ridiculous cycle of over spending.

I totally understand what you say about your standard of living. I would also (except for the debt) be very comfortable at what I make. I think you should seriously snowball your hearts out for the next 12 months and then see what happens and what new opportunities may arise. I say this from experience on doing the wrong thing, but I also say this based on the utter shame that I felt for years after.
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