I am new and am sinking

iVillage Member
Registered: 07-09-2008
I am new and am sinking
6
Wed, 07-09-2008 - 4:50pm

Hey everyone! I am new to the group and would love any/all advice!


I am 29 yrs old. I work full time, not married/no kids. I am sinking. I made myself a budget at the beginning of the year but due to buying a car, it has capsized :( I live beyond paycheck to paycheck. I barely have enough for food. For instance, we got paid last friday and as soon as all the bills hit, i will be negative (not by much) and i have nothing till i get paid again (every other week). I don't see how i can put even a dent in anything since i barely have anything left over. I make 2600 a month Below are my debts. Aside from those debts, i have my cell phone (80), car insurance(119), rent(492) and split bills with roomie(my half 150-200).... any advice/help would be greatly appreciated. I am so sick of being in debt! If there is anything i can do to earn more money, i will glady do it.











Balance
Monthly Payment

Nissan - Car
24,170
450

AES (school)
26,231
134

Credit Cards



Bank of America
10,781
303

Citibank
5,248
200

Discover
5,860
200

Bank of America
2,016
100

CareCredit
5,000
145


iVillage Member
Registered: 07-02-2008
Wed, 07-09-2008 - 5:45pm

Thanks for posting. It's a first step. You need to get rid of that car. If you sold it now while it was new and has few miles (which I'm assuming it does) you might be able to get a cheaper car/payment and be able to put a few hundred more a month towards debt. Also, what about a night waitress job? Can you work that/fit that around your school schedule? Any way to make extra income would help. Babysitting at night for friends? Walking dogs? House sitting? Anything you can think of? Post flyers?


You can always eat cheap for now. Cut out all additional outings - drinks w/friends, etc. Do the minimum for now and try to find ways to make extra money if possible. You can do this. It IS possible!!!

iVillage Member
Registered: 04-12-2007
Wed, 07-09-2008 - 6:15pm

Hello, and welcome.


Your credit card payments look high to me compared to the debt on each card.

iVillage Member
Registered: 04-26-2004
Wed, 07-09-2008 - 6:39pm
I would sell the car and either live without or buy used. that is a huge chunk of money each month. Hope things get better soon.
iVillage Member
Registered: 06-05-2007
Thu, 07-10-2008 - 9:32am

I agree with fabpurplerose.

 

iVillage Member
Registered: 07-11-2008
Fri, 07-11-2008 - 7:03pm

The car payment looks like a lot!

 

iVillage Member
Registered: 07-12-2008
Sat, 07-12-2008 - 12:23am

First thing you need to do is to keep track of your spending and to create a monthly budget for the year.

 

Steve