Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Celebrating Memorial Day!
Go Back   City-Data Forum > General Forums > Economics > Frugal Living
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-22-2023, 07:01 AM
 
230 posts, read 215,448 times
Reputation: 357

Advertisements

I am 26 years old. I am in a financial rut. I have no money in my savings. I'm continuously dipping into my savings. My checking account is in the negative. I have a credit limit of $3,100. I am over my credit limit by 10 bucks.

I work in a restaurant. I work 37.5 hours per week. My salary is $16.85 per hour.

I take an Uber/Lyft to get to work and home 5 days a week. It costs me anywhere from $10.00-$12.00 for an Uber/Lyft.

I live with my parents. My mother is charging me $300.00 a month towards Rent. I pay $120.00 a month for utilities. I pay $40.00 a month towards my cell phone.

With food I Doordash quite often. I haven't really kept track of my Doordash expenses.

I've been dealing with some medical issues for the past few years and I've spent a lot of money on Doctor bills.

I also have my student loans going into repayment next month. I have $15,000 in total. I signed up for the repayment plan where it charges me based off my income. I only have to pay a minimum of $1.00 per month.

My mom just gave me her old car. She got two new tires for the front. It still needs a slight wheel alignment.

I also have to still be added to my parent's Car Insurance policy as a driver.

All in all I am asking you guys for advice on how I can get out of my financial rut?
Reply With Quote Quick reply to this message

 
Old 11-22-2023, 07:05 AM
 
Location: Kountze, Texas
2,339 posts, read 611,959 times
Reputation: 2112
First of all - Did you finish college? Do you have a degree? What type of work are you doing in a restaurant? Where do you live? Tell me that and I will give you some advice.
Reply With Quote Quick reply to this message
 
Old 11-22-2023, 07:43 AM
 
Location: Southwestern, USA, now.
21,020 posts, read 19,363,451 times
Reputation: 23666
Quote:
Originally Posted by GrandmaChris View Post
First of all - Did you finish college? Do you have a degree? What type of work are you doing in a restaurant? Where do you live? Tell me that and I will give you some advice.
I agree, tho he was pretty thorough
Learn to cook instead of getting Door Dash just one thing.
In your city, #2, find a Health Center for 'people with little money'. These savings add up!
The fact you don't know how much you spend on Door Dash ..tells me you don't wanna know! Lol.
No solution, but just ideas that were obvious.

Good luck.
Reply With Quote Quick reply to this message
 
Old 11-22-2023, 07:44 AM
 
230 posts, read 215,448 times
Reputation: 357
Quote:
Originally Posted by GrandmaChris View Post
First of all - Did you finish college? Do you have a degree? What type of work are you doing in a restaurant? Where do you live? Tell me that and I will give you some advice.
I spent 3 years in University studying for a Biology Degree. I did not finish that degree. I did a year at my local community college and received an Associate of Arts Degree. I'm back in school now and I'm still working full-time. I'm at the local community college. I'm trying to get into Nursing school. In the restaurant, I am basically a floater. I help out everywhere. I assist with prep, serving, dishes and cleaning, inventory, picking up orders, and other miscellaneous tasks. I live in Detroit, MI.
Reply With Quote Quick reply to this message
 
Old 11-22-2023, 09:10 AM
 
Location: Central Florida
3,262 posts, read 4,997,171 times
Reputation: 15027
It sounds to me like you have no idea where your money is going, so I would start with that. On paper or in an Excel spreadsheet, write down every penny you spend, and on what you spend it, every day. Be diligent about this for a month. At the end of the month, organize the expenses into categories (e.g., Door Dash, groceries, gas, rent, etc.) and add up the amounts you spend in each category. This will give you a clear idea of areas you can cut back on your spending.

Now that you have a car, will you be able to drive to work and not need Uber/Lyft?

As another poster suggested, learn to prepare your own meals and lose the frequent Door Dash expenses.

Do you share in the tips at the restaurant, in addition to your hourly pay? Do you get any free meals at the restaurant, or at least discounted prices?

It sounds like if you apply some discipline to your spending, you should be able to do ok through nursing school. Start with tracking expenses.
Reply With Quote Quick reply to this message
 
Old 11-22-2023, 09:19 AM
 
Location: Kountze, Texas
2,339 posts, read 611,959 times
Reputation: 2112
^^^^

Good advice WSM
Reply With Quote Quick reply to this message
 
Old 11-22-2023, 10:20 AM
 
Location: DFW
40,952 posts, read 49,155,879 times
Reputation: 54995
With an Associates degree apply for the Detroit PD. That might be a good start towards a career.
Reply With Quote Quick reply to this message
 
Old 11-22-2023, 10:39 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,345 posts, read 8,557,056 times
Reputation: 16674
If you can do the nursing program and become an rn you are golden.
I’d definitely stop the door dash costs.
Otherwise I’d look into a tech field. I have a lot of friends doing very well there.
Reply With Quote Quick reply to this message
 
Old 11-22-2023, 10:48 AM
 
Location: New England
3,246 posts, read 1,739,106 times
Reputation: 9125
Learn to cook for starters. Can you ride a bicycle to work ? It might help improving your health at the same time.
Reply With Quote Quick reply to this message
 
Old 11-22-2023, 10:50 AM
 
Location: New England
3,246 posts, read 1,739,106 times
Reputation: 9125
Quote:
Originally Posted by Rakin View Post
With an Associates degree apply for the Detroit PD. That might be a good start towards a career.
.....If you don't mind being shot at.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Frugal Living

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top