Dave Says Sell the Stupid Cars, Love the Lovely In-Laws

Dave Says Sell the Stupid Cars, Love the Lovely In-Laws

Dear Dave,

I’m 27 and married, and we have two kids. I make $90,000 a year, but we have $80,000 in consumer debt—$48,000 of which is in car loans. The rest is credit card debt. My wife’s parents have offered to let us move in with them so we can get out of debt faster. Do you think this is a good idea?

Kevin

Dear Kevin,

If I were in your situation, I would not move in with the in-laws. You’ve got an absurd amount of money wrapped up in those cars. I’d sell the stupid...