Sell house pay off debt buy multi family? Just looking for solid advice.

[Jennifer Thomas]

Hey y’all so my husband and I are both 36. My husband was offshore making ton off money and he got laid off right after Covid hit. We bought a house right before he got laid off. We have about 80k equity. We can barely afford our life, and we have 4 kids. We owe about 55k in debt. That’s car payment, installment loans, credit card etc.. we are thinking of selling her house and purchasing a duplex. We have thought about living on one side of it, or my husband has had the idea to possibly move in with his grandmother. I’m a realtor and times I’ve been very slow.  I’m so stressed about money I don’t feel like I can think straight. We can’t live off my husband’s income so I’m basically the bread winner. I just want to start making good decisions to set up our future! Any advice would be great.

[Caleb Brown]

Would you downsize if you sell? Maybe rent a place that's small and cheap for now before buying again. Use the equity to pay off everything. Your husband needs to get a job, might not be anything special but you need both income streams. Cut all your costs as much as you can. Don't eat out or splurge, you can't afford it. Get on a budget and track your money $$. It is not fun being tight but you guys need to cut any cost and your husband needs to make money to help support. If both of you can do side jobs do it. Knowing your numbers will keep the stress low.