Tell us your story

So I have been sitting back reading these posts quietly hoping I can find a way to help myself out.

My Story… It all started in my teens. My parents never really taught me how to manage my money so when I was 18 I became a Retail Store Manager and in my eyes I thought I had money to blow left and right.

I bought a new car, racked up credit cards, etc… But when it came time to pay bills including my rent and utilities I was lost.

When I turned 21 I got pregnant and resigned from my job (I had twins so I was a high risk pregnancy). My car was repossosed, I had debt collectors calling me all day long. At this time I moved back to my home town to where my parents let me live with them until my daughters were 1 yr. old. I decided to file bankruptcy and clear out the old debt. I have been struggling ever since.

I have racked up more debt which I am paying down but I have came to the realization that I can be debt free and eventually have money in reserve for emergencies. I started a new job this year which I took a small salary cut but my year end bonus will make up for it in the long run. Plus I have tax season and my return will help out. I think I can get most of my debt paid off.

But I am struggling with whether to pay off debt and work on improving my credit score or sock the money into savings and sit on it. I think I would feel better if I paid off my debts but I need to save money as well.

I currently live with my boyfriend of 8 yrs. He owns his home but is stuck in a high interest mortgage. His orginal payment was around $1000 but has sky rocketed to $1500 a month. I have been giving him extra money to help out but I have paying all of the utilities as well. But this has not given me much money to spare. He cannot afford this house without me. he has tried to get his house refinanced but his credit is shot as well. He has a few small things lingering on his credit report that needs to be paid off but we have not been able to afford to do so. Is it true that if he takes care of these it will improve his score?

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