this has been a topic on my mind recently. this may focus more on the singles out there than the married or living together couples. but who knows, maybe it will hit you guys too.
being in debt is never any fun. especially when you have important bills to pay such as rent/home owners payments, car payments, phone bills, utilities etc. i mean when do we have the time to pay off the debt we've racked up?
for example: i have an amazing job, make decent money and have great benefits but when it comes to finding a one bedroom apartment in utah for a decent price is beyond ridiculous. it is anywhere from 500-800 depending on what area you want to live in. also trying to find a roommate can be impossible. that rent money that you spend every month could be used to apply to your debt and you could be out of it in no time. my only problem, my parents are in between houses and so i'm kind of stuck in a sticky situation.
you of course have to break up your paycheck into the necessities such as groceries, gas, and the minimum payments due. then you have your rent, utilities etc. if you're going through anything like what i am, you see your paycheck dwindle within the first few days of getting it. you don't have extra money to go out and do anything or have time to put money in savings because you have to make those payments.
i've looked into a second job to see if maybe the extra income would help, but at the same time i have a puppy at home who needs love and attention. and lets face it, when you have no money to go out and do stuff, your life results in spending almost every night inside so that you don't have to be tempted to go out and spend money on things you really don't need.
i'm in my lease for another two and a half months and i'm in kind of a pickle. i'm tired of living paycheck to paycheck and i don't know what the best situation would be to make the extra cash. i could go back to serving, but i think i'd rather have a bar tending job. you wouldn't even believe how much bar tenders can rake in, unless you've been one.
so i suppose the point of this post is to ask your opinion. what is the best way you find yourself getting out of debt within the means of your paychecks and bills? i've read a couple different stories but i'm not sure if i could do it, or maybe i'm too afraid to try?
last time i was in debt, i moved back in with my parents and used almost every single paycheck to pay off all of my debt. once it was all cleared up i was able to put money in savings and have money left over. somewhere over the last few years i've lost that ability and i need to get back into that.
any suggestions? they would be greatly appreciated! or maybe you could tell me one of your stories to give me inspiration.
mk thanks. have a great weekend peeps.
5 comments:
Girl, I'm right there with ya. Have you heard of Dave Ramsey?? He's a big financial guy and I took his class at my church a few years ago and it TOTALLY changed my perspective on money. Seriously. I'd definitely recommend his book, Total Money Makeover. And here's a link to his website that kind of gives you an idea of what he's all about...http://www.daveramsey.com/new/baby-steps/ He has "baby steps" to get you on your feet and out of debt. It seems like a lot at first, but if you take it one step at a time, it's totally awesome. I really love this kind of stuff, so if you have questions on budgeting or anything feel free to email me! It's so hard being single and trying to live on a budget... and of course by "hard" I mean "not cool" haha. But it's definitely worth it. :)
Ahh girl I feel ya. It's crazy realizing how expensive life is, how on earth were our parents able to pay for everything? I wish I could give tips, but I'm definitely in the same boat as you. And I'm pretty bad about spending on things I don't necessarily need. I make it month-month just fine, but I'm not saving nearly as much as I know I should be. Fingers crossed I don't regret that decision... Let me know if you find anything that works :)
Izzy and I are going through this right now... we both have debt. Right now I can't pay any of mine off because I don't make the money to do so. And Izzy can't work on his because his apartment costs $900.
We're discussing moving in together. We want to for more than financial reason (honestly we spend more time driving back and forth than enjoying either of our places and yet we're both spending money on rent for these places). However, easing up the financial burden definitely would help. He'd move in with me and I know my parents wouldn't charge us much in rent. Which means we could both start attacking our debt.
Aside from that I have no tips.. aside from getting a second job, which would pretty much blow =-/
I'm a horrible/awful money saver. I have a pretty decent paycheck but just spend it! Luckily I don't have cc debt.. just no savings. What helps with me is planning for something *really* big that I *really* want and then focus on that. I go as far as taping notes on my debit/credit cards & phone to remind myself and that also causes me to "think twice" before buying something I don't need.
If you have cc you are paying off, shred them until it's paid off. Focus on the bills that are smallest amount (or have the highest interest rate), pay those off first while paying minimum on the others, then pay off the others. And reward yourself! Super strict budget plans NEVER work for me.. I save for a little bit and then go crazy & erase all the hard work I had made.
Also-- I totally think you should look at a bartending job if you think it would help! More money/less debt = more freedom!
I wish I had some tips. But, I too, live paycheck to paycheck with massive debt. It sucks. I pray things figure themselves out...for me and YOU!
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