Rave-Unicorn-Votive t1_jaafzha wrote on February 28, 2023 at 12:41 AM

Someone else can put it on their credit card.

And you should not have a joint bank account with your mother.

ferriswheel09 OP t1_jaahpl9 wrote on February 28, 2023 at 12:54 AM

I am the only person with a credit card unfortunately! We were hoping to contribute to the joint savings account with the goal of buying rental property one day

Rave-Unicorn-Votive t1_jaaigh8 wrote on February 28, 2023 at 12:59 AM

You are in no position to be considering buying a rental property, let alone actually buying one.

Someone else needs to apply for a credit card. Everyone else needs to get a second job.

Greenappleflavor t1_jaai01j wrote on February 28, 2023 at 12:56 AM

You and your mom each don’t have enough funds to cover an emergency ($2500 for an electrician for example), you should not be putting money into a savings for rental property. You need to get your own houses in order before doing anything like that.

TomorrowIllBeYou t1_jaahwga wrote on February 28, 2023 at 12:55 AM

You shouldn't be saving up for far future investments with $16k in credit card debt. Everything beyond your emergency fund should be going to your debt, not far-off dreams of owning rental property.

OcelotWolf t1_jaajk4e wrote on February 28, 2023 at 1:07 AM

The possibility of achieving that goal is so far away it's not even funny. Put that thought on the backburner and focus on righting the sinking ship that is your household situation