What Would You Do?

[Granite]

can you move to a cheaper apartment?

get some dvds to exercise to and cancel gym

if you dont' want to work a second job how about babysitting, eldercare, giving people rides, mowing lawns, etc ?

[inneedofhelp]

I took everyone's advice and realized that getting a part time job is the best option. I will also reduce my cellphone and cut out my gym membership. That would free up about 60 extra bucks per month.

I am tired a lot and am working on my health, and that is why I am somewhat worried about the 2nd part-time job...I don't want to become more worn out and tired. But, I will see if I can get something for an extra 8 hours a week. That would be good.

I am also going to cut down on the milk, maybe half a gallon every couple of weeks or so. I will have someone living with me, so they will cover the food costs, which would save me an extra 100 bucks per month. So, so far I would have slimmed $160 bucks from my budget.

I am worried, though, it that there is the possibility that the medical coverage may cost me more, so that may mean a shortfall of about $450 bucks or so per month.

[inneedofhelp]

I have already significantly paired down my budget....here are my expenses

rent
car insurance
car payment
loans -- cannot get a lower interest rate
food
cc bills-- cannot get a lower interest rate, some are on default interest
cell phone--I can lower it to maybe under 50 bucks, but I need a cell phone as I drive long distances and they have made finding public payphones difficult!
home phone/internet (good deal for dsl)
student loan
storage (live in a small apt, items belong to parents, can't get rid of at this time--and combined w. rent my rent is still super affordable)
gas + transportation
pet food
toiletries (the bare minimum)
household supplies (soap, tp, etc.)
Money to wash clothes
utilities
gym
prescription co-pay---currently 35-45 bucks. but I am considering trying to get something over the counter, which may cost about 22 bucks a month instead. Doesn't work as well, but eh, what can you do?

I am really stressed out right now. I think I can shave off 150 bucks a month if I cut out the gym and food (I may have a loved one live w/ me and they will pay for food). maybe another 10 if I try to really stretch the household supplies and toiletries. Sigh.

[inneedofhelp]

debt free for over nine years ---- save , and save more -------

I did good at one point in my life saving about 12 grand in my mid 20s. But taking care of family, working at a good job, but one that did not have pay increases, and eventually changing jobs did significantly impact my savings.

I am trying to stay mentally positive. I will have a roommate that wants to help me with my expenses and doesn't want me to get a 2nd job just yet (mainly because it just wears me out when I work 2 jobs...including commute, I am averaging about 11 hours away from home per day, or 55 hours per week. If I get a part time job, i want at least 8-16 hours more per week). If I can put off a 2nd job for now, and not have to go into savings, then I may do that. I really want to focus on just paying off my debt and getting my health back in order. But, I will continue to look for part-time work in case I find a good opportunity for a saturday job.

[inneedofhelp]

take care of your health first , and last ===== is the most important thing you will have .

That is why I am leary of getting the 2nd job...don't get me wrong, I would adore the extra dough, but I know that I am already feeling tired often, and a 2nd job would leave me potentially feeling a bit more tired, AND, I often gain weight and/or have difficulty losing weight when I have worked 2 jobs. I think it is because I keep trying to fuel myself with more energy revving food, though it ends up being more calories than I need, etc.

Tonight was a weird night and I am now feeling quite blue. I am thinking of how I am going to manage a reduction of 250 bucks, which, seems possible if I cut out $150 of expenses. But if it is a 400 hundred or yikes! a 600 deficit, then I am not sure how I can make it if I don't get a 2nd job.

I am feeling a bit sad right now and just stressed out.

[creditcardfree]

Your health is important, too. You can always quit the second job if it doesn't work out. Maybe the second job will be on a Saturday or Sunday...or one of the days you don't work. It should also be near where you live so you don't need to commute.

[Runaway Finances]

Man, it's no wonder you're stressed if you are talking about toilet paper and milk. All the others are spot on regarding the gym, cell phone, etc. Now that you have shaved some expenes, determine how much you can spend on groceries, haircuts, and other discretionary expenses (expenses away from home) per month. Divide that amount by 4 and take that amount in cash each week. Then, stop worrying about WHAT you spend it on, and just worry about not spending more than that each week. You have then just controlled your spending. You defined how much you spend. It is extremely liberating. Try it.

DisneySteve is exactly right on the debt repayments. Reduce them and take longer to pay them back. Put ALL of that reduction into savings in case you do have a pay cut. But, IF you do get a paycut, you need to assume it is permanent, and reduce expenses to match your income. The emergency fund will only last for so long. Most people just hope their situation will get better. What if it doesn't??? No matter what your income is, make sure your expenes don't exceed it. Debt and credit cards are NOT answers to your cash flow problems. Get your expenses below your income not matter what that takes (assuming debt is not part of the solution).

[inneedofhelp]

Man, it's no wonder you're stressed if you are talking about toilet paper and milk. All the others are spot on regarding the gym, cell phone, etc. Now that you have shaved some expenes, determine how much you can spend on groceries, haircuts, and other discretionary expenses (expenses away from home) per month. Divide that amount by 4 and take that amount in cash each week. Then, stop worrying about WHAT you spend it on, and just worry about not spending more than that each week. You have then just controlled your spending. You defined how much you spend. It is extremely liberating. Try it.

DisneySteve is exactly right on the debt repayments. Reduce them and take longer to pay them back. Put ALL of that reduction into savings in case you do have a pay cut. But, IF you do get a paycut, you need to assume it is permanent, and reduce expenses to match your income. The emergency fund will only last for so long. Most people just hope their situation will get better. What if it doesn't??? No matter what your income is, make sure your expenes don't exceed it. Debt and credit cards are NOT answers to your cash flow problems. Get your expenses below your income not matter what that takes (assuming debt is not part of the solution).

Right now I am paying the minimum payments on my cards. Plus, 2 of my cards will increase their percentage rates by a couple of percentage points starting in July.

As for haricuts...ha! I haven't had one in maybe over a year, I think. Litterally, most of my discretionary spending goes right back to food, because despite my efforts, I have not been able to adhere to the strict $100 per month budget. I KNOW it can be done, but I just haven't been strong enough to stick with it. Plus, when I am stressed, I totally get hungry and that is a whole nother issue.

I am also wondering about my prescription costs and how I am going to factor buying the store brand into my budget. I am going to seach for an online w-2 estimator thing so I can try and estimate how much may be reduced from my paycheck.

I had enough money to pay my bills, and maybe have 40-50 bucks left over each month (sometimes). With the paycut, I won't have the extra funds...so, I am going to talk with my bf and see if he can help me out, and see if I can do some work on the weekends.

One issue is that even though there will be paycuts, there is the possibility that the workers will be asked to come in and work extra hours (without extra pay) during busy periods.

[Joan.of.the.Arch]

One issue is that even though there will be paycuts, there is the possibility that the workers will be asked to come in and work extra hours (without extra pay) during busy periods.

My gosh, how common is this becoming?

People working at businesses doing this need to band together and inform each other as to what is going on. They need to get honest information from the employers. They need to make decisions --individually and together-- about how much risk, decline in earnings, and devaluation of their own work they are willing (or not) to take in order to save some marginal business. I hope profitable businesses are not just using the recession as an excuse to increase their profit margins by manipulating their employees.

[graceful]

re: the toilet paper, my mom told me that when her and my dad were first starting out, they were so poor that McDonalds supplied all of their ketchup, napkins, and toilet paper (they used the napkins). Not that I condone taking anything from fast food restaurants, but I am just saying that when you are desperate you can still come up with ways to cut corners if you are resourceful

HAVE to buy TP but we usually buy the Scotts type - lasts longer - versus the soft Charmin type.

As for napkins or paper towels, hardly ever buy it. The only ones found in my home are the stray ones from McDonald's or Dunkin Donuts - whatever they gave out, NOT grabbing handfuls, just not wasting what comes into the house without throwing it in the trash unused.

Buy a large pack of of white hand towels at a discount superstore when on sale. I hang one on the refrigerator door handle, bathrooms, everywhere near a sink. Use the hand towels to wipe hands after washing hands. They get thrown into the laundry every time I do a load. Have extra in case they need to be switched out before you get to the laundry that week.

As for wiping spills and such. I suggest buying handiwipes (I think they are called? Comes in blue or pink and is a thin, transparent, cheese cloth-like material). I bought a large bag and it lasted a few years. I use, rinse and hang to dry, to be used next time. Gets thrown out when it rips or gets stained, etc.

Oh, as for the cell phone, have you priced out how much a prepaid cell would cost? It would cut out some of the monthly fees you have to pay since I am sure you will be more conservative on how you use your minutes instead of the use it of lose it mentality.

OP, good luck.

[maat55]

That is why I am leary of getting the 2nd job...don't get me wrong, I would adore the extra dough, but I know that I am already feeling tired often, and a 2nd job would leave me potentially feeling a bit more tired, AND, I often gain weight and/or have difficulty losing weight when I have worked 2 jobs. I think it is because I keep trying to fuel myself with more energy revving food, though it ends up being more calories than I need, etc.

Tonight was a weird night and I am now feeling quite blue. I am thinking of how I am going to manage a reduction of 250 bucks, which, seems possible if I cut out $150 of expenses. But if it is a 400 hundred or yikes! a 600 deficit, then I am not sure how I can make it if I don't get a 2nd job.

I am feeling a bit sad right now and just stressed out.

Being in debt for a long time will wear you down just a fast as a second job. I would rather get used to the second job than sitting around getting nowhere with the debt.

Seeing quicker progress will give more hope and strength. Git with it kiddo.

[tripods68]

You can exercise just fine at home with a minimal one-time investment - a good pair of walking shoes, some dumbbells, a yoga mat and not much else.

huh..you must not workout!

[kork13]

huh..you must not workout!

I respectfully disagree that a "workout" must include a full gym setup.... Between running, swimming, pushups, various core workouts, and my single dumbbell, I'm staying in quite good shape in the privacy of my own bedroom (short of running/swimming, obviously). I've always hated gyms, and never seen a purpose in using one when you can do everything you need to stay in good shape in the comfort and privacy of your own home.

[inneedofhelp]

I have been working 2 jobs off and on. Lately, because of how I have been feeling, i worry that getting a 2nd job will cause me to be worn out and pack on the pounds. I know that if I just keep paying down this debt, I will have two major debts paid off by next year...which would equal an extra $334 bucks per month.

I am thinking of trying to find part time work on a saturday...something fun, but enough cash so I make progress with my emergency savings, etc.

[inneedofhelp]

I checked into trying to find a part-time job, and as I am in California, the unemployment rate is pretty darn high, and it is a bit difficult to find a part time job that doesn't coincide with my regular work hours. I am finding that even though a job states it is "part-time", it is still having those part-time hours be during the regular 9-5 shift....I would prefer if I could find a weekend job or an overnight job on the weekends. There are times when I wish i was in better shape.....I would be able to not be so tired all the time, and I could do jobs like waitressing or jobs where being thinner was imperative.