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This morning, my blood pressure just rose thinking about on a non-stop merry-go-round of living hand to mouth (or "paycheck to paycheck") it seems. The only hope (and it's one I've held on to ever since I started working when I was 15) is to one day get a "good job". But with nothing on the horizon, I just feel the need to vent!
I've heard plenty of criticism in my life from people who feel they can tell me that I don't have it "that bad". Well in all honesty, I marvel at how others who make far less than I do can even survive. While I make more money than both my mother and my one sister that works....they both have living arrangements (where they pay little or nothing for housing). I on the other hand make "too much" to qualify for any type of public assistance .
The overview: I make $28K annually, 32 y/o, no kids or dependents. I will say that my job offers good benefits (health care...although I can't afford the co-pays half the time; life insurance; disability; union; etc.). I have a hefty dose of deductions that whittles my bi-weekly paycheck to about $780 (give or take).
Housing: I rent for $500/month. My utilities vary...but I don't have to pay anything up until the end of the year for electric and gas because I just moved, and I had a credit from my previous address (for being under the annual budgets). I wish I qualified for LiHeap though...because when I do have to pay....it's like $100 - $125 easy.
Car: This was not a problem until August of this year when my pretty decent, paid off car died and left me on the road. It was devastating! I have a 60 mile round trip commute and thankfully, they allowed me to work at home. No money at all to buy something else. I took out a personal loan for $2K and got another $2K from my Dad and BF's student loan refund. I used that to put money down on a used car. The sticker price was $7,500 but with taxes, title and fees...that amount just ballooned. Used car prices are through the roof (this car was a 2002), and I had to go to where they would approve my horrible credit. So now I'm saddled with a $250/month car payment. Although I am saving a bit on car insurance ($95/month vs. $140/month) on this new car.
The car payment is killing me....the rate is ridiculous (something crazy....like 20%). I'm planning on paying it off with my tax refund.
Cell Phone: I am the one person in my family that doesn't owe some cell phone company tons of money due to a breach in contract. With that being said, I have an account with 4 lines it. Two of those lines are for smartphones....and my monthly bill is like $140/month. To be fair, my mother and my grandmother (who have two of the lines) give me money for their share. However my sister, who is in college, doesn't. In spite of this big bill, I pay today about the same amount that I paid for one cell phone (with limited minutes) 6 years ago. So I guess the psychological trick is staying with the hope that when the new plans come out, you'll save some money.
Commute: Killer. I spend upwards of $50/week in gas....
Graduate school: My tuition is covered by loans. But every semester, a course has a "required" text or software that is like $200.
Food: Impossible. Grocery shopping makes me want to cry. I try to keep it to $30/week. Beyond that, I go to my Grandmother's so that I can piggyback on her meals. There has to be a better way (I don't see my Grandparents...who are in their 80s, living another 10-20 years).
Cable & internet: I actually had to nix this all together; which is pretty bad...being that my graduate studies are all online! But I figured that between my work computer and my cell phone, I could keep up. It was running me about $70/month for high-speed internet (cable...Fios is not available where I live). However my BF offered to get cable in his name, so for now, he's paying for it.
Credit cards: Yeah right. I throw $20 bucks at them every once in a while...but it hardly helps!
So after all that, I'm left with about $200 for the entire month....or $6 per day. But if ANYTHING comes up (car registration, office party, have to buy clothes, have to get my hair done {thankfully my sisters can do this most of the time...but they aren't always available}), then I'm flat broke.
The straw that broke the camel's back is that my BF tried to apply for foodstamps to try to help knock food expenses down at least. He was denied....we don't know the reason yet, but it's most likely because he's a part-time college student. So even though he only makes $300/month...he doesn't qualify.
Yep. It's tough out there right now. I think one of the great tragedies of our economic life is how people don't link our political decisions with our economic outcomes. For example, our largesse with illegal aliens creates greater competition among the working class and blue-collar for jobs, while a larger labor pool drives wages down. It's classic supply and demand economics. Yet you have people who wax indignant about one yet argue in favor of the other.
This morning, my blood pressure just rose thinking about on a non-stop merry-go-round of living hand to mouth (or "paycheck to paycheck") it seems. The only hope (and it's one I've held on to ever since I started working when I was 15) is to one day get a "good job". But with nothing on the horizon, I just feel the need to vent!
I've heard plenty of criticism in my life from people who feel they can tell me that I don't have it "that bad". Well in all honesty, I marvel at how others who make far less than I do can even survive. While I make more money than both my mother and my one sister that works....they both have living arrangements (where they pay little or nothing for housing). I on the other hand make "too much" to qualify for any type of public assistance .
The overview: I make $28K annually, 32 y/o, no kids or dependents. I will say that my job offers good benefits (health care...although I can't afford the co-pays half the time; life insurance; disability; union; etc.). I have a hefty dose of deductions that whittles my bi-weekly paycheck to about $780 (give or take).
Housing: I rent for $500/month. My utilities vary...but I don't have to pay anything up until the end of the year for electric and gas because I just moved, and I had a credit from my previous address (for being under the annual budgets). I wish I qualified for LiHeap though...because when I do have to pay....it's like $100 - $125 easy.
Car: This was not a problem until August of this year when my pretty decent, paid off car died and left me on the road. It was devastating! I have a 60 mile round trip commute and thankfully, they allowed me to work at home. No money at all to buy something else. I took out a personal loan for $2K and got another $2K from my Dad and BF's student loan refund. I used that to put money down on a used car. The sticker price was $7,500 but with taxes, title and fees...that amount just ballooned. Used car prices are through the roof (this car was a 2002), and I had to go to where they would approve my horrible credit. So now I'm saddled with a $250/month car payment. Although I am saving a bit on car insurance ($95/month vs. $140/month) on this new car.
The car payment is killing me....the rate is ridiculous (something crazy....like 20%). I'm planning on paying it off with my tax refund.
Cell Phone: I am the one person in my family that doesn't owe some cell phone company tons of money due to a breach in contract. With that being said, I have an account with 4 lines it. Two of those lines are for smartphones....and my monthly bill is like $140/month. To be fair, my mother and my grandmother (who have two of the lines) give me money for their share. However my sister, who is in college, doesn't. In spite of this big bill, I pay today about the same amount that I paid for one cell phone (with limited minutes) 6 years ago. So I guess the psychological trick is staying with the hope that when the new plans come out, you'll save some money.
Commute: Killer. I spend upwards of $50/week in gas....
Graduate school: My tuition is covered by loans. But every semester, a course has a "required" text or software that is like $200.
Food: Impossible. Grocery shopping makes me want to cry. I try to keep it to $30/week. Beyond that, I go to my Grandmother's so that I can piggyback on her meals. There has to be a better way (I don't see my Grandparents...who are in their 80s, living another 10-20 years).
Cable & internet: I actually had to nix this all together; which is pretty bad...being that my graduate studies are all online! But I figured that between my work computer and my cell phone, I could keep up. It was running me about $70/month for high-speed internet (cable...Fios is not available where I live). However my BF offered to get cable in his name, so for now, he's paying for it.
Credit cards: Yeah right. I throw $20 bucks at them every once in a while...but it hardly helps!
So after all that, I'm left with about $200 for the entire month....or $6 per day. But if ANYTHING comes up (car registration, office party, have to buy clothes, have to get my hair done {thankfully my sisters can do this most of the time...but they aren't always available}), then I'm flat broke.
The straw that broke the camel's back is that my BF tried to apply for foodstamps to try to help knock food expenses down at least. He was denied....we don't know the reason yet, but it's most likely because he's a part-time college student. So even though he only makes $300/month...he doesn't qualify.
Stressed!
i hear you --one of my kids is near your age and in the same boat-----and here in the northeast the cost of living keeps getting higher while wages stagnate
That sucks and I understand how you feel. The biggest thing I'd change is the cell phone plan. I guess you're on a family plan?
I'd cancel all that and get a cheap individual plan. No smartphones. No data. When you are tight on money, these are luxuries. I make more than you but only pay $60 a month for a basic cell with 1000 mins and unlimited text. If I need internet, I use my computer. If you're sister isn't paying, cancel her phone. Sorry, boo hoo, You cannot carry her. Period.
Cable? You could go without that between your regular job and grad school. Keep the internet and download cable shows from online. Get a Netflix account and sometimes you can borrow DVDs on it. Or get a Roku and stream movies and shows.
THe only other option is getting a part-time job if only 1-2 shifts per week for extra cash until you earn more.
I am not sure if you are asking for suggestions or just complaining.
If it were me, the first thing I would do is move closer to my work and get a room for a couple of hundred dollars a month (since you are single).
I would downgrade from a smart phone to a regular phone and use a prepaid service. Let mom and granny get their own and dump your sister.
It's too late for the car, you're stuck with it.
Graduate school? really? Incurring MORE DEBT? How crazy is that? You can't afford the expenses you have now and you are racking up debt that is going to have to be paid off. I hope whatever your major is that it guarantees you a good job upon graduation.
It's obvious that you have a problem with money. Otherwise your credit score would not have been so bad that you were forced to pay outrageous interest on your car loan. Likewise, I'm sure those "deductions" that come out of your paycheck might be a few garnishments.
If you are asking for suggestions and are seriously interested in improving your quality of life and becoming financially responsible I suggest you check out the books and other items (including the podcasts) for Dave Ramsey and follow his advice.
If you are just complaining... here..... "Awww poor baby".
I'm 23, almost 24, and make a little over $35,000. I also have good benefits, so in that sense I'm lucky. However, I live in the Boston area and pay $600 to share a slumlord apartment (half of the outlets in my room don't work, our washer/dryer in the basement doesn't work and the landlord refuses to get new ones, our kitchen faucet only puts out hot water, it's the end of November and our apartment is 53 degrees because the heat isn't working) and pay upwards of $200 a month in winter for utilities (just electricity, gas, and internet - we don't have TV).
I also am recovering from cancer. In the thick of things, I was paying $400 a month in copays. Now I'm down to only around $150 - and that doesn't include $100+ for meds. I had to purchase a car during chemo and did not have the money for a downpayment, so I ended up locked into a lease for $200 a month with $120 for insurance and around $100 for gas. Since I don't have the energy to haul my laundry 4 blocks to the laundromat (or even to and from my car), I have a service that will bring it into my bedroom for around $50 a month. My phone is $40 paid to my mom on a family plan - I am very lucky that I am allowed to stay on that plan.
All in all, that leaves me with less than $400 a month take-home for food, clothes (steroids with chemo made me gain weight so none of my clothes fit), and other expenses like car maintenance or, gasp, having fun. My one big luxury is having Netflix, which I see as an easy trade-off without cable.
Somehow I really don't end up with anything at the end of the month - particularly as I pay off expenses accrued during treatment. I'm launching a freelance grant writing/ development writing/ fundraising communications business but only have one client thus far, so that does not alleviate the financial pressure. Part time jobs are out of the question - I simply don't have the energy when I'm still sleeping 14 hours a day sometimes.
I am not sure if you are asking for suggestions or just complaining.
None of the above ('venting')
Quote:
If it were me, the first thing I would do is move closer to my work and get a room for a couple of hundred dollars a month (since you are single).
Since I first started my job in 2009, I've been in two different locations (one 27 miles from my home, the current one is 30 miles from my home...and they are 35 miles apart from each other). In January, I'll be moved to yet another office (17 miles from home). I would be a fool to move "closer to my office" since it's obvious that they feel that they can shuttle me around at their leisure.
Quote:
Graduate school? really? Incurring MORE DEBT? How crazy is that? You can't afford the expenses you have now and you are racking up debt that is going to have to be paid off. I hope whatever your major is that it guarantees you a good job upon graduation.
Yes I am! In all honesty, student loans aren't an immediate issue since 1) they are deferred since I'm currently in school and 2) the income contingent plan will not require me to make such a large payment anyway.
I see it like this; I will do my share to better my life. Yes, I could balk at the cost of college and be degree-less and truly non-competitive in the professional world (sorry...but I wasn't born with a nest egg and connections). And statistically speaking, people with Master's degree's have a much lower unemployment rate and higher average income than the general population.
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It's obvious that you have a problem with money. Otherwise your credit score would not have been so bad that you were forced to pay outrageous interest on your car loan. Likewise, I'm sure those "deductions" that come out of your paycheck might be a few garnishments.
Seriously? Actually my only problem with money is that I don't make enough of it. 95% of my debt is student loans. I was a college drop-out for most of my 20s and was not always on top of the paperwork to keep my student loan payments in deferment. My credit card debt is a whopping $1,500 (which I wish I could pay down....but can't right now....although I could...if my last car didn't die).
Oh, and no....I have no garnishments. How presumptuous can you be? My deductions are taxes (federal, state, city), union dues (very pricey in my opinion...like $40/month), retirement, FSA, and various insurances (like life, disability, and unemployment).
Quote:
If you are asking for suggestions and are seriously interested in improving your quality of life and becoming financially responsible I suggest you check out the books and other items (including the podcasts) for Dave Ramsey and follow his advice.
Is Dave Ramsey hiring?
Quote:
If you are just complaining... here..... "Awww poor baby".
Thanks but no thanks for the pity. I posted this so that others in similar situations can also chime in.
I also am recovering from cancer. In the thick of things, I was paying $400 a month in copays. Now I'm down to only around $150 - and that doesn't include $100+ for meds. I had to purchase a car during chemo and did not have the money for a downpayment, so I ended up locked into a lease for $200 a month with $120 for insurance and around $100 for gas. Since I don't have the energy to haul my laundry 4 blocks to the laundromat (or even to and from my car), I have a service that will bring it into my bedroom for around $50 a month. My phone is $40 paid to my mom on a family plan - I am very lucky that I am allowed to stay on that plan.
Oh wow; I feel your pain! I also had tons of medical bills....but from a car accident...so 'luckily', everything was covered by a combination of car and health insurance. But yes, I understand that when your health is on the line...it jumps to the TOP of the priority list.
Hang in there...I hope your recovery is ongoing and can be complete soon!
thats the worst place to be, when ur right above the govt assistance line. I think ur best bet is to increase your earning potential, but keep ur expenses low so you can pay down ur debt. I would hope your grad school actually is valuable and in demand. Do not think that just because you have a masters you will find higher paying jobs, in fact you may be considered overqualified. Also I know that online masters tend to be looked down by some employers. ALso a generic masters will not do you much good. Pretty much, you need a game plan, so I hope you have put alot of thought into that and is not just racking up debt carelessly. Good luck!
Do not think that just because you have a masters you will find higher paying jobs, in fact you may be considered overqualified. Also I know that online masters tend to be looked down by some employers. ALso a generic masters will not do you much good. Pretty much, you need a game plan, so I hope you have put alot of thought into that and is not just racking up debt carelessly. Good luck!
I know; but it's a chance I have to take. I look at it like this; can it get any worse? My master's is online; but it's from a brick and mortar public state university. So it's not readily apparent that it was earned online.
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This morning, my blood pressure just rose thinking about on a non-stop merry-go-round of living hand to mouth (or "paycheck to paycheck") it seems. The only hope (and it's one I've held on to ever since I started working when I was 15) is to one day get a "good job". But with nothing on the horizon, I just feel the need to vent!
.
But I figured that between my work computer and my cell phone, I could keep up. It was running me about $70/month for high-speed internet (cable...Fios is not available where I live). However my BF offered to get cable in his name, so for now, he's paying for it. 
