In regards to my background which I will include in the post, am I being a financially responsible young adult?

[Beilua Rose]

Originally Posted by miakelly

COULDN'T agree more. Why even tell her she's eligible for food stamps? I didn't see her say anywhere that she was hungry and didn't have enough food. There are obvious places in her budget that she can cut if she needs more food. She absolutely should not get food stamps given her current financial situation.

Personally, I won't ever go on foodstamps. I'd rather starve then go on foodstamps. I don't like any type of assistance in general.

[Brandon Hoffman]

Most financial advisers will help you set up a plan for the future. It's never to early to go meet an Edward Jones rep or someone similar and start thinking ahead.

[Okey Dokie]

Originally Posted by Brandon Hoffman

Most financial advisers will help you set up a plan for the future. It's never to early to go meet an Edward Jones rep or someone similar and start thinking ahead.

Although I am in full agreement people need some sort of financial plan, I think going to any type of individual selling financial products may be a bit premature for the OP. They are likely to get her into some sort of load mutual fund, cash value (non-term) life insurance, annuity or something else she doesn't need (or can afford) right now. A better idea would be to get some personal finance books from the library to learn how to set up a budget to include savings/emergency fund. Dave Ramsey or something similar. Read personal finance magazines such as Money or Kiplingers.

[NY Annie]

NO, you are NOT doing ok. You have debt that could be paid off inside 3 months. Yet you do this:
I usually spend about 30-45 dollars per week on clothes and items that I probably don't need.

What's the point in doing that? Get rid of your debt THEN spend $10 treating yourself. Why are you wracking up credit card debt?

It makes absolutely NO sense to delay paying off your debt at whatever interest when you are earning ZERO or less than 1% interest on whatever is in your bank account when you could apply $30-45 PER WEEK and cut down your debt AND THE INTEREST paid.

Originally Posted by Beilua Rose

Background Information:

This is somewhat of an emergency. I am in a stressful position and I want to know if I am doing ok. Thank you so much.

20 year old female
Working a part-time job of $8.15 (Times are tough)
Going to school at a local college (Relatively affordable tuition)
Renting an apartment at $550-600 dollars a month (No Roommates)

Spending Habits

I go "treat myself" shopping once or twice a week.

I usually spend about 30-45 dollars per week on clothes and items that I probably don't need.

I spend 250 dollars a month on groceries. $62 per week.

I do NOT have cable.

I do NOT have internet.

I do NOT have an expensive phone plan.

I am in "debt" around 300.00 and due to some changes that are taking place, I will probably end up being in debt up to $600.00.

Keep in mind, I have a credit card for these purposes. I have money in my checking account but I feel as though, financially speaking, I will be in a better place if I am able to accumulate my "wealth" before paying off my debt in full. I would feel much comfortable paying my debt off at 100-200 dollars a month than to have my checking account be low.

My mentality is, It's better to be safe than sorry.

************ I DO PLAN TO GET A FULL TIME JOB THIS SUMMER HOPEFULLY AT 9.00+.

Am I doing okay?