Financial Challenges Support Group

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Struggling to afford the future...

OnAMission04
OnAMission04

Struggling to afford the future is my current situation. I am a licensed cosmetologist who paid $24,000 to go to school and another $220 for my state exam and license. I am currently working at a job where, with TIPS, I will make at most $17,500 a year. 



I use to live with my ex, we lived on our own. I left him after years of abuse and moved back home. Home was new to me. My mother had recently started dating someone and moved in with them, sold the only house I lived at for longer then a year. And this new guy she was with had 2 kids and 4 bedrooms. Her and my brother moved there, which meant I had no room. My room was sleeping on the floor of my 7 year old stepsister. (They have married now.) I had gotten in a bad accident and lost my job, due to medical reasons. In addition to that I lost my car. No work means no money and goodbye car I had worked so hard to get. This was almost 2 years ago. I am still there. I have since gotten a new car (which is old and falling apart on me). I need to save up to move out and to get a nicer car. I also plan on getting a place with my boyfriend, who is 4 years older then me and lives at home still as well. 



I wanted to be 23 married and living on my own. This year I am 24. None of that has happened and I feel like a failure. I won't be able to afford to move out within the next 2 years, and that makes me feel like an even bigger failure. The more I think about it the more stressed I become. 

ChickenTikka
ChickenTikka
The reality of modern America is until the ridiculous charges incurred by medical needs and education are addressed- properly, I mean not promising the earth to get elected then delivering little in reality ( like Obama and now it seems Clinton... )

Don't blame yourself, millions of americans are in the same position.
OnAMission04
OnAMission04
It's hard not to. How am I at almost 24 suppose to be able to live a life and move out while making below poverty. I mean even my significant other who is 28 can't affor to. And he makes double what I do. Today's society and debt makes it almost impossible to be successful.
ChickenTikka
ChickenTikka
well, I can tell you how to live below poverty ( because I do myself ) but you will have to learn frugal living skills and live without credit charges etc. The banks/credit card companies want you to run up debts to service- that's where they make money.

Eat rice and beans every day if you have to, try not spending anything except the bare essentials ( and cutting out everything you don't need- eating out, hair, nails, make up, subscriptions are obvious easy cuts- though a lot of americans don't like to hear it )

The one thing impossible to budget is health care, so I have just learned to do without except the bare essentials.

Apart from that you can live well on $17K a year and if the two of you are wanting to live together on $50K a year, well that's more than most American families have.

Try reading stuff on frugal living, simpledollar.com etc
billwfriend
billwfriend
poverty level is $16,200 this year for a family of four.....
OnAMission04
OnAMission04
Thank you for help I appreciate it!!
OnAMission04
OnAMission04
And no poverty is $22,000. Done a lot of research and have had several people in financial positions tell me that. (Credit union presidents, etc). It's sad but true. And unfortunately not a lot.
ChickenTikka
ChickenTikka
federal poverty line $11,880 for individuals. $16,020 for a family of 2 is what govt uses to determine Medicaid, obamacare etc. I have found I can budget ok on @ $12K since I have been sick, except for health care, it is just impossible to get the necessary info up front half the time, then unexpected bills arrive or it turns out something was not covered after all.

$22K still would not probably cover a major illness or accident, but I could live very comfortably and save a little.

I am selling my home soon, already downsized once, about to go back to renting so I can live off the equity while I am sick. It won't keep me for many years but with this terrible quality of health care I don't expect that to be an issue...
MikeRiches
MikeRiches
I am sorry to hear about your situation. I think there are a few things that could help. 1) While not intuitive, try to remain thankful in this season. It can be hard to see positives, but finding even little things to be grateful for can keep your outlook going in the right direction. 2) Are you able to work since your accident? I hope that you are, and maybe you are not able to go back to cosmetology, but looking hard for a new job will be the best thing for you. 3) Once a job is in hand and the income looks to be around what you were making before or higher, then you can work to getting your car fixed or a new one and then finding your own place. If your goal is to live on your own you need the income first. I think having that single focus can help you with getting your income up and then eventually paying down your debt. The main thing is to work super hard on getting work then you can make progress on your other goals.
SueB
SueB
I truly know where you are coming from except I'm 60, cant move back home, refuse to live with my children, they have their own families, I am currently living in a low income Senior Apartment, even with the low income rent the paycheck can only stretch so far, the price for my meds tripled with my current job,
yes, I might be just barely above poverty level but I work very hard and try to pick up shifts when possible,
my car is a 1997, that barely limps along, pieces have been falling off literally, or totally quiting on me ie... the a/c doesn't work, I've learned to live without it, the blower for the heat/defroster quit on me the middle of last winter, now fixed, all sorts of things, but a piece of bubble gum here, band aid there, and duct tape are miracle workers,
It can be done, but like they said earlier, its hard work, I have to be vigilant about it, and I remember to thank God I can work at my job yet, and aside from my depression/bi-polar, i'm in relatively good health,
remember to remember the positives in life.
oh and there are food pantries around and in the town I live in they also have a free clinic, which I have used in the past, they were very helpful and helped me get back on my feet
Good luck, It can be done
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