Financial Challenges Support Group
This community is for people who are struggling to meet financial obligations of any kind. Financial challenges include everything from the day-to-day challenges of making ends meet to managing credit card debt to bankruptcy. Get support from others who are going through similar obstacles on the road back to financial stability.
Hi, I am a 23-year-old woman who is going to schoo full-time and working full-time (makeing $12.50/hour as an administrative assistant). I am in so much debt. My landlord literally just called me this morning and said that if I'm late with my rent he is going to start the proceedings to get me out of the apartment,its a month to month lease so legally he can do that as far as I know. Its looking more and more like I'm going to have to leave school but I'm done next September and it would suck to have to drop out and just to go back, not to mention I've been having these financial problems since before I started school and moved out on my own. I looked at filing for bankruptcy but I didnt understand half the stuff they were talking about. I also cant afford the fees and stuff to file. I have tried budgeting, direct deposit, not using direct deposit actually works better for me because I can physically see my money and how much I'm spending. But I always seem to fail. I just moved out on my own for the first time this past summer and at first things were fine but now I am constantly having to scrape by. I then made the horrible mistake of taking out mutiple pay day loans and at first I was paying those back on time but now I owe three of those comapnies too. I also have like 4 or 5 credit cards that are not getting paid at all. I also have medical bills, I owe friends, family. An ex of mine said he's getting ready to take me to court for the money I owe him. I owe my gym money. The list goes on and on. I need to help. I cant afford money mangament classes because I cant afford to actually pay for them. Ive tried every trick in the book for saving money but literally every paycheck is gone by the time I get it. I literally have gone two and three months at a time without buying groceries. There are things that I still need to get for my apartment that I dont have like more dishes, a futon for my computer room, a kitchen table (a tiny one). Not to mention things like I need new clothes and money to do laundry. I mean I have no idea what else to say except please give me some sound advice on what I should be doing right now to get myself together. Going back home is not an option and I dont have any relatives or friends that I can live with while I try to get back on my feet. I dont want to give up this apartment becuase my credit is shot to hell and I wont be able to get a better place until I start paying this rent on time and taking care of al the debt I owe already. So any help and advice would be greatly appreciated. Thanks!!
-
I have been here before, a long long time ago and now I am back.Forgive me for not just saying what I want to say,even under a triple dose of antidepressants it is still raw and seeping and I am hesitant at revealing it as at least under the bandages around my heart I don,t have to look at how raw and wounded.My child was cleaved from my heart by his own actions. my child of ten,turning eleven...
-
theatre and I are there already. I'm having a very berry tea with crackers, cheese and cherry tomatoes and she's having a joint with some beer and we're both on really comfy recliners on thick pile carpet. we need some help with the decor if anyone is around??
You mentioned needing things and one of those was a futon for your computer room... I don't mean to sound harsh here but it sounds like your in at least a 2br place and it's just you...you should really check into downsizing.
As for budgeting... I have heard alot of ppl say the envelope method works great for them - though I don't use and and don't really understand it completely maybe someone else on here can give you advice on that.
GL - hope everything works out for you
#1-I agree with chris, a computer room? We poor people do not have things like computer rooms, get a roommate. If you already have a roommate, get another one.
#2-Admit it, you are poor, and if you don't want to stay that way you gotta buckle down for a while. Think about it, it will suck for a little while but that is better than constant struggle. What do you need a futon for anyway? A guest room? Maybe something to think about in the future. I have completely stopped buying anything unnecessary and things are getting better. I am catching up.
#3-Cut all credit cards, they just cause problems. Until they are used correctly, they are horrible. You basically need to have a solid money base to use a credit card correctly and we don't have that.
#4-cut cost everywhere. Buy cheap shampoo and food and everything. I would always tell myself "what is a dollar," but those dollars add up. When you didn't buy groceries for a couple months, what did you eat? You had to eat something. I mean if you worked at a restaurant that might actually work. I've recently started cooking dinner every night for my roommates and we split the grocery bill. We usually spend less than 30 a person a week and we always have leftovers for lunch. You just have to plan your meals so that you are able to use some of the same ingredients and don't waste veggies and stuff.
#5-Write down EVERY money transaction you make. This is really helping me because you see how all those small purchases will kill you. Also, I have different categories like food, entertainment, bills, etc, you decide. I keep a pad and write stuff down and then I enter each day on the computer, which makes me look at it again.
I have been doing these things for about a month and I am already seeing a huge improvement. I admit, it takes a lot of effort and a lot of changing, but if you are ready to change your situation than its has to be done.
I am currently looking for more advice on the matter too so I will try to stay in touch with you.
First as far as getting any new stuff for you apptment check the area. They maybe places that have free stuff for students Churchs are good for that also. Then look at cutting down on the food cost as much as you can. Me and my fiance can live off $145.00 for grocerys a month. It is not the best of meals but it can be done. Also what I like is to set your bill Order. first Rent then utilitys. Then Maybe Credit cards. I like to do Minum payment plus $1.00 It helps your credit to pay more then the Min. Then try to work out with your Ex and every one else some type of payment plan. Stick with it. Then if you have money left over save it. I like to save any left over money for 2 months. Then on the 3rd month any left over money from the 1st month goes in to the lowest Credit card bill. Why lowest. Becouse it feels good to get one paid off. Makes you feel you are moving ahead witch you are. And do not use that Credit cards.
The Check advance places are the hardest ones for alot of people. The intrest they make will wipe you out real quick and from what it sound like I think you might have barrowed from one to pay another. It is not easy. But you can get out of the hole. Stay in school and find some one that can help you find grants for school. I use to have a friend in VA that was a professional student and was in school for 10 years. Never got a lone never had a job and never got money from family some how she knew how to find all those grants even one that provided a collage student with a car. It is not easy but I do know a few that could do it.
Hope something helps.
Someone else mentioned how they write down every little expense that they make and then type into the computer to help them pay real close attention to what they spend. This is a very good idea and I am going to even try to start using this to help myself.
Oh I think someone else also mentioned using envelopes. This is something that I use on vacations and am going to try and use this in my everyday life. The way it works is that you calculate a very close estimate as to what you need to spend each paycheck then you divide those expenses into catagories like gas, food, lodging(the catagory I use on vacation), or rent and utilities. you put the money into seperate envelopes and you only use that money for those expenses, if you are actually lucky to have extra you put it back in your savings. If you have to spend extra on one catagory you can borrow from the other envelopes before you dig in your savings.
I hope some of this is helpful