This couple is over budget by $489 this month. Let's talk about their options! They have 2 choices: ✅ Increase income ✅ Decrease expenses (Or they could do both!) Right now this couple is sending 43% of their income to debt payments. And that car they are upside down on is taking up a bulk of it. An upside down car payment is when you owe more on a car loan than what the car is worth. This usually happens when you roll an older car payment into a new one. That's this couple's case here. When it comes to dealing with an upside down car payment, you have a few options: 1. Refinance for a lower interst rate - not sure if this is possible for them. 2. Increase income and make extra payments to the principal. 3. Take out a personal loan or unsecured loan to cover the difference and sell the car. But this leaves them with only one car for their family. What matters most right now is that this family is willing to do the work to get out of debt and change their financial situation. And I LOVE seeing their motivation to do it! Whether you want to pay off debt or invest money, writing a budget can help you get there! PS. Ready to learn how to budget better? GREAT! ✨Sign up for my FREE BUDGET CLASS and I’ll teach you how to write a budget that works without sacrificing your weekly latte runs.✨ ➡️Go to INSPIREDBUDGET.COM/FREECLASS to sign up or CLICK THE LINK IN MY BIO! #budgeting #budget #budgetlife #budgetplanner #budgetingtips #budgetplanning #budgetfriendly #budgettips #budgettip #budgetingtips #budget2022 #budgeting101 #budgetbuild #howtobudget #budgetgoals #momonabudge #debtfreecommunity #debtfreejourney #debtfreedom #debtsnowball #debtfreegoals #personalfinance #womenandmoney #personalfinanceforwomen #womeninfinance