The numbers don't work

Courtney has seen a lot big plans for her life fall through. Now she faces life with an apartment lease she can't afford and a child. There aren't a lot of options here, but Dave offers some help and encouragement.

QUESTION: Courtney calls from Miami, FL, where she’s facing a big problem. She signed a lease on an apartment a few months ago, but since then, she and her husband have separated. That leaves her with a child from a previous relationship, along with rent of $1,100 a month — plus day care expenses — on $2,280 a month take-home pay. She can’t receive child support presently, because her baby’s father is in prison. Courtney is enrolled in Financial Peace University, and Dave tries to help, but there aren’t a lot of options.

ANSWER: Yeah, you’ve got to get out of there.

What I would do is sit down with the landlord or manager of the apartment and begin to negotiate what you can do to get out of this lease. It’s going to be very difficult to make the numbers work when you’ve got 50 percent of your take-home pay budgeted for rent.

I know it wasn’t the plan you had, and obviously this part of your life is falling apart, kiddo. I’m sorry. Make sure you plug in strong with that Financial Peace University group and your church. Make sure you find some people who’ll put their arms around you and help you walk through this.

 

 

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