I am considered broke? Or financially dumb?

My husband and I live paycheck to paycheck while making $95,000 a year combined before taxes. We have one child. We have $8,000 in a savings account for us and $4,000 in our child's savings account for when he gets older or decides to go to college or do something else with the money. We need to buy a new car and a house. We are currently renting and over paying an auto loan for a beat up car that has a lot of issues costing us to repair constantly. Our credit is really bad atm. I'm not sure where to start. We are almost 30 and still don't have a solid foundation to say we are financially comfortable. I am extremely upset and depressed about this and so is my husband. Our money goes so quick without even actually "wasting" it on random crap. Even when budgeting everything our money goes. Idk what to do anymore.

Update: forgot to mentioned that we live in a very expensive area so our rent is $2,200. There isn't anything cheap in our city but we do love where we live.