Need Help :(

iVillage Member
Registered: 12-05-2005
Need Help :(
13
Sun, 03-05-2006 - 12:06pm
~ Edited ~


Edited 8/1/2006 12:11 pm ET by hrhdragonfly

Pages

iVillage Member
Registered: 01-25-2006
In reply to: hrhdragonfly
Sun, 03-05-2006 - 9:29pm

You are doing a great job with the budget...just not enough to go around with those housing expenses. I agree with the thought to track down a roommate. I know that is a tough one (I'm single too and I just bit the bullet and got one myself) but it is definitely the quickest route to some serious relief for you. Start spreading the word to everyone you know that you are looking for someone. I personally was never crazy about the classified ad route but Craigslist seems like a pretty good place. I'm sure you were scared off by party girl but there really is someone out there that I bet you can make it work with.

I also agree with the poster who said use the tax return to clear some cash flow. I would look at the student loan she mentioned and also that homeowner's assessment. Those 2 items will free up $90 a month and effectively double your spending money. I realize that is sort of counter intuitive from what people usually recommend but I agree that cash flow is more important than the interest difference at this point. Actually, the credit card would be my last place except Student Loan #2 unless that 1.9% is going to expire on you. Even then, I'd work to try and get that on a life of the balance rate instead of snowflaking to it. Start working on that car loan because that would really free up some cash flow.

Is that $180 to your HELOC interest only? If not, you might see if you could arrange something along those lines temporarily until you get the roommate thing sorted out.

Finally, you don't say how big your tax refund is but if it is substantial ($500+) then I would find a W4 calculator and figure out how to change your withholding to get more cash in your paycheck.

Also, you don't mention if you have any savings but if you have any above about a $1k cushion (non-retirement accounts), I would again consider using those to pay off the car to get that cash freed up every month.

Hang in there and stick around. I'm sure we can help as things start to shift gears for you.

Peg

iVillage Member
Registered: 12-12-2004
In reply to: hrhdragonfly
Mon, 03-06-2006 - 1:49am
Hi, DF. Well, I have to agree with everyone. Give yourself a pat on the back for being so realistic and really trying to cut down expenses. l) Personally, I would get rid of the credit card. I was reading a news article on credit cards (I think it was the weekend edition of the USA Today) and how they are coming up with more ways to have you pay more, etc. It was absolutely a great article. 2) Roommates. Most big cities have a weekly publication that has ads, roommates, etc. What about new professionals starting out, i.e., new nurses, teachers, sales reps, etc.? While many have their lodging paid for as part of the contract, you might find a travel nurse who is looking for lodging. Check out the local colleges,too. 3) Start a credit union or savings account for those association fees to save up some cash just in case you are short one month. JMO. Whiz.
iVillage Member
Registered: 07-11-2001
In reply to: hrhdragonfly
Tue, 03-07-2006 - 11:21am

I just wanted to send you hugs. I know how it feels. I mentioned to my BF the other day that if I don't start to make more, I will need to look at getting a roommate again and the thought of having to share my already small space is killing me. My home assessment keeps rising every year, as well as my condo fees and I haven't been offered any salary increase this year. I haven't pushed for it either since I am not the best time keeper ever! I work in sales so my salary is really dependent on how well I sell. I have a lot of orders open, but my industry it is not easy to fill the open orders. It's tough to go through this, especially as a single woman. I would only be able to rent cheaper in an awful neighboourhood, and I'm not willing to do that.

I wish I could offer better advice, but I would think a roommate may be the best solution. I would just have a year contract to be negotiated at the end of the year.

Pages