Barely hanging in there and strugling...

[nick__45]

If your parents don't mind you're living with them, there is no shame in it. The true shame is to loose your shirt on a house or your job and can't feed yourself or family.

[nick__45]

Originally Posted by Hector

Its good that you are a mechanical engineer, but nothing is wrong in getting a part-time job. I personally know people who have more than an engineering degree. For sure, they didn't feel small in doing labor gigs when needed.

I have a part time gig on Saturday morning, working at a farmer market doing manual labor and selling products. I am more proud of that $10/hr than I am with my $51.4/hr gig that pays all the bills around here. And you know what, my low paying job makes me a better person because I treat people better than most of my white collar co-workers.

[nick__45]

Originally Posted by jmsgirl

Contact Dave Ramsey! He will help you. Yes, he's a financial guy, but he's a Christian and just wants to help people out of financial messes! The forum says I can't post any links until I have a certain number of posts, but please google Dave ramsey and call into his show!!!

The problem with super dave is that his membership isn't free and its forum is not nearly as active as this one. I am not sure what there to gained from joining for 9/month beside another bill. I don't want to get in debt to learn about getting out of debt.

[jimmyrules712]

Your biggest problem is the home. I'd have to say for sure either find a roommate (iv'e heard of people using craiglist for that if you can't find anyone through friends) or sell your condo and buy something cheaper or rent a cheap apartment. Your basically paying $1100 for the home, which is over half your income and not "living within your means". Try to get to where your home costs are like $600 or less. - $500 potential savings

I would definitely look at canceling TV, but keep internet. You can get netflix for $8 a month for tv shows to watch until you get ahead.- $50 potential savings

I understand the frustration of the idea of selling your car for so much less then you paid, but that's just going to have to be a mistake you learn from (never buy a car new). For $5k you can get a car that will be reliable and will only require liability insurance. - $200 potential savings.

My estimates may be optimistic but there's how you could possibly save $750 per month.

Then if you can find a way to bring in extra income like others suggest you'll be sitting pretty.

Once you make those adjustments to your expenses and income save up $1000 for emergencies (those flat tire / broken heater situations). Then pay off the credit card debt. Then expand the emergency fund savings to 3 to 6 months worth of expenses.

If you do all of that, and maintain those habits, you'll probably be financially secure for the rest of your life.

[Scanner]

This is just a side note for an "expense cutter" that I am doing at my new house.

Basic phone service for a landline is $15/month. This only local service - no toll or long distance. You then buy one of those long distance cards from BJ's/Sam's Club for $20.00 and you get like 900 minutes. It's a little bit of an extra pain to dial into their 800# but they let you put in speed dial numbers. I only have 2 numbers, my parents one, that I call regularly.

Wi-Fi at public places or work for internet.

I then carry a Tracphone for my cellphone usage. . .cost. . .about $80.00 every 6 months. I only use that for work communication - no pleasure talking.

And yes, I am doing "No cable" at my new house too - to offset some of my child support. Netflix is the substitute.

Americans spend way too much on communications IMO.

[packerfan]

Time to figure out how to increase income. Can you do any freelance work? Pick up odd jobs on the weekend, work overtime, etc. You could cut things like cable, but my preference would be to pick up some extra cash. Do you have things you can sell on ebay to get out of debt?

[Mr Nice Guy]

I have been on financial forums for a short time now, but I see a trend of people who come on here, and in their first post, ask for help. Yet never seem to come back to give us situational reports or updates. At first I think it is stupid, but the more people read about real life situations, the better. Each thread has some gems of knowledge and a lesson to partake.

[cschin4]

1. Keep the Car - You aren't going to gain anything to trade it in, get another, etc. You need transportation to work. Let this be a lesson not to buy a car without making sure it is truly affordable.
2. Living check to check isn't fun. Wanting to have the house, car, etc all comes with a price. Sometimes it is much better to live a much smaller lifestyle and have money in the back and a cushion. This is also a good lesson to learn.
3. House - Roommates are not necessarily that easy to find. And, there is a difference between renting an apt together and having someone boarding in your house. The relationship is much different. So, not sure I would pursue that option.
4. You are young, you have time on your side. Keep the house, but realize it comes with a price. And, since you bought it and the car, now you need to "work that job". Take as much OT as you can get and/or a second job and work as hard as you can and aggressively pay off your car. Once you do that, you will have a cushion and I think you will be able to get back on track.

[cschin4]

As for dental, etc. Some things you might not be able to do now. If you really are in need of immediate dental care, look for the local dental college and go see if they have discounted rates. Otherwise, there are things you probably have to put off.