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uYou should be working at least 60 hours a week. So if your job is 40, you need work at quikway convenience or something on weekends. Or get hired on night cleaning crews that clean banks & other professional buildings after business hours.
Are you saying you can not sell your car for what you owe on it? There are lots of reliable cars that are not new. Isn't there public transportation?
Reality is that you are going backwards every day.
Put real rent & utilities into the equation and you should see that you are consuming more than you are making.
I've had this thread on my mind lately. I was in such a different place then, emotionally, than I am now. I remember typing the first post with tears running down my face.
Quick update:
Unfortunately,I'm not doing as well as I'd like, but that's entirely my fault. I KNOW what I need to do but it's really hard to actually do it sometimes. It is especially hard when I feel depressed about my situation and splurge with money I don't have.
However, myfinancial situation has changed... some.
Thanks again for all of the great advice that was given in this thread. Maybe now I'dactually heed to most of it.
I'm 32 years old and I am slowly learning how to adult.
Some UPDATED background info:
**I now have a $1500.00 emergency fund! Yay, me!
Also, I now make $2240.00 a month and I have almost $40,000 of debt.
Student Loan - $23,500 - 6.8% Car Loan - $18,000 - 1.9%
(I have to drive a lot for work, so I needed something reliable(new).
Credit Card(Medical) - $6,000 - 0% for 24 months starting in January 2019.(Non-issue right now)
That's all concerning my debt.
My monthly expenses starting September 1st, 2018 will be:
$374.00 - Car Loan
$400.00 - Rent for parents
$$125.00 - Car Insurance
$150.00 - Gas
$150.00 - Food
$44.00 - Cell phone
$25.00 - Life Insurance
$11.00 - Gym (My parents live in a pretty rough neighborhood, so walking around outside for exercise isn't an option.)
$50.00 - Dry cleaners
$200.00 - Student Loan
$50 - MISC
I will be able to pay $800 a month toward debt, not counting the auto monthly payments, starting in September. However, I am unsure of what to pay off first: Student Loan or Car Loan. What do you guys suggest? I'm leaning toward student loan simply because I am not the best driver plus I use a lot of miles for work and I would hate to pay the car off only to have to buy a new car in a few short years.
Thanks again for all of the previous advice and for letting me stop by from time to time to update you all.
Ok a few more things.
I spend $30/ week to FEED TWO PEOPLE. That doesnt include eating out, but no eating out but ONCE a month. Not included in food budget. But two of us eat out forc$20. That $140 to FEED TWO PEOPLE. pb&j should be your friend for lunches, cheap, filling, good protein in peanut butter. Cut your food to $75.
SAVINGS: $75.00
Life insurance: stop the policy. Plain and simple, you cannot afford it. SAVINGS: $25.00
Gym, it may be small, but buy a yoga mat and a set of dumbbells and work out in your bedroom. Eventual savings after buying said mat and dumbbells, $11.00 or exercise in your room doing body weight exercises. I do.
SAVINGS $11.00
Misc: I don't know is what this is. Cut out make up cut your own hair , cut cut cut.
SAVINGS: $25.00
I ADD UP $136.00 Right there.
Add that to the $800, and you have $936, close yo $1k, two + car payments to pay it off in a short time, OR ADD $136 / m to your e-fund.
You gave 2 loans, which ever is higher interest rate, pay it off first. Or if it makes you feel betterpay off lowest balance.
KEEP the car, maintain it, for 16 years, get your value out if it. Drive it into the ground.
TAKE a second job. You seem resistant to this. DO IT.
I DON'T CARE whether it's flipping burgers or not. You cannot afford not to.
My OH works 3 jobs, I am disabled and collect SSDI, but I'm allowed to and work a part timed job. I hobbled around on TWO canes all winter due to knee issues all winter, instead of the usual one. My job required standing and running around a hotel for 8 hours straight eith NO BREAK AT ALL. I can sit when not busy, but if it's busy I'm standing /running 6-7 hours of thosec8. On TWO canes with bad knee and bad back, and bad hip, and fused neck. YOU can do it.
If I can do it, if my 60 yo OH can do it, so can you. We are saving for retirement and payingviff a new house bought in 2015 before fully retiring.
You need goals, we have ours, and you need TO WORK towards them. You have no retirement t and are 32??? You'll be doing it,likeit or not at our ages because you didn't plan well in younger years.
Unfortunately if you change nothing significant, nothing significant changes. You have to pursue better-paid employment AND cut your expenses. Nothing else is going to work.
I don't remember this post so you'll just have to tell me instead of having me go through all the posts. How are you doing?
Hi, flying, her point is she is still in the same mess.
She has refused to change her habits, or take on additional work, and so is still struggling.
Apparently she doesn't know the 'definition' of insanity....which is doing the same thing over and over and expecting a different result.
If she's not willing to make some changes, shell forever be in a rut. She's 32, not a dime invested for savings, has college and car debt, and lives with her parents.
She'll be stuck in the same cycle she's in, unless she breaks the cycle.
I'm a hot mess when it comes to my finances. Although I'm not longer "drowning", I'm treading and quickly running out of energy.
Honestly, if you knew you were a mess 2.5 years ago and nothing like a serious accident, illness, or other tragedy has befallen you, and you're *still* a mess, then, well...not much any of us can do to help.
You have pages of sound advice here (and maybe some not so sound, but still...), and you have basically unlimited access to information that could help you (it's called Google). If you have the time and inclination to post on this forum as you have, then you have the ability to clean up your situation. I recommend you do that instead of posting here. It's not that hard. Takes time and some sacrifices, but it's really not that hard. And if you really do find it "that" hard, then I recommend seeking psychological help.
Not going to bother to repeat the advice you got 2.5 years ago that you have chosen not to follow
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