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25 years old from fairly wealthy at my age to poor, help me budget please

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    25 years old from fairly wealthy at my age to poor, help me budget please

    Hi my name is Dave im 25 years old and im broke. Since the age of 19 ive been building inspector for an environmental consulting firm. At age 19 i started at $12.00 an hour and eventually worked my way up to $24. Now i realze thats not rich but at my age itwas decent money. My bills were always paid early, i had a nice house with 2 of my buddies a nee cadillac cts and whatever else i wanted. I could take a girl out ona fridayand spend $300 and think nothing of it. and i always had atleast 5k in cash in my room at all times. Then in feb i got laid off. First thing to go was the caddy, luckly i had $1000 equity init. Ive always been into classic cars and ive ownedand sold over 60 of them i always mad extra $ doing that even while working. Any fast forward to now. Im still collecting unemployment making $329 a week after taxes,i have a classic car that im paying $260 a month for and i still owe 7k on (if i sold it i have about $500-1000 equity init) i had to move back in with my dad ive sold most of my posessions i barely have money to take my girl out, my insurance is $136 a month my phone is $100. Mean while i have $30 to last me until friday, i have no assests, im walkin aroun in $200 armani sunglassses i no longer have a career, and im on the vetge of giving up. Im not a troll and im sorry for writing so much im just confused and im sixl of feeling like alooser

    #2
    I'm sorry you've lost employment. How many weeks of Unemployment Insurance payments are still available for you? I believe your 1st, most important task is to get a job or several part time jobs. Anything you are capable of doing,retail sales for the holidays, fast food, delivering pizza, landscaping, walking dogs etc.

    What type of employment is available in your community? What skills would you need to get that job? What courses are offered at your local community college that lead to likely employment?

    Are there opportunities for employment as a building inspector in other regions? You will need money saved from any employment you can acquire to cover basic living for a minimum of 3 months to support a moving option.

    Sorry but just now GF will need to find entertainment that is free or nearly free. At this time of year there are usually lots of community events to celebrate the holidays very inexpensively. I'm hoping you're using this opportunity to build a good relationship with your dad being as co operative and helpful as possible.

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      #3
      Hey thanks for the quick reply. Heres my problem my unemployment runs out in feb. I have quite a few environmental certifications but no college degree, the environmental field is very well paying one can easily make 100k a year if you advance up the ladder. The prob is thatvits a small field so finding wori is tough, ky other problem is how can i take a job making $8 an hr when im making.more then that on unemployment that i can barely afford to live on. Im also confused on a career path since the last 5 years may have been a.total waste. My dad and i are good buy i still want to get back out asap just not sure what to do

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        #4
        Phone bill of $100 seems high to me, is there a way you can cut it?
        It is probably worth selling your car for a cheaper one. That stops the interest payments.

        Can you post a list of all your weekly/monthly expenses, it will help us give you better advice.

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          #5
          Your unemployment is ending in 3 months-you need to get a job asap. I would sell stuff that you no longer need like the sunglasses and the classic car.

          You don't need a $100 phone either-get a simple tracfone and pay as you go.

          Once you get a new job-you need an emergency fund. It sounds like you need to do a 6--8 months of an emergency fund.

          Are you considering going back to school part time to get your degree?

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            #6
            Have you ever considered a job at a car dealership? You seem to have a passion for cars, so I'm wondering what jobs exist in that field that you've looked at. What if you could find a job to get paid to talk about/work with classic cars all day?

            My point is, just because your last job was in environmental consulting, does not mean your next job has to be.

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              #7
              Originally posted by oldskool153 View Post
              Hi my name is Dave im 25 years old and im broke. Since the age of 19 ive been building inspector for an environmental consulting firm. At age 19 i started at $12.00 an hour and eventually worked my way up to $24. Now i realze thats not rich but at my age itwas decent money. My bills were always paid early, i had a nice house with 2 of my buddies a nee cadillac cts and whatever else i wanted. I could take a girl out ona fridayand spend $300 and think nothing of it. and i always had atleast 5k in cash in my room at all times. Then in feb i got laid off. First thing to go was the caddy, luckly i had $1000 equity init. Ive always been into classic cars and ive ownedand sold over 60 of them i always mad extra $ doing that even while working. Any fast forward to now. Im still collecting unemployment making $329 a week after taxes,i have a classic car that im paying $260 a month for and i still owe 7k on (if i sold it i have about $500-1000 equity init) i had to move back in with my dad ive sold most of my posessions i barely have money to take my girl out, my insurance is $136 a month my phone is $100. Mean while i have $30 to last me until friday, i have no assests, im walkin aroun in $200 armani sunglassses i no longer have a career, and im on the vetge of giving up. Im not a troll and im sorry for writing so much im just confused and im sixl of feeling like alooser
              You shouldn't finance luxury items like classic cars, so I'd advise you to consider selling it if you can't secure employment in the near future.

              Other than that, it sounds like you have a fair amount of stuff that you don't need that you can sell.

              You said you are ready to give up job searching. Why? What sort of jobs are you looking for? Despite the economy there are jobs out there if you know where to look.
              Brian

              Comment


                #8
                Originally posted by oldskool153 View Post
                im on the vetge of giving up. ... im just confused and im sixl of feeling like alooser
                Clearly, the most important part of working is to make money to pay bills. That's why most of us do it. But, there's also that psychological component of self worth/keeping one's self busy and out of trouble.

                Even if a job pays the same or slightly better than unemployment, I'd encourage you to get back into the work force now for that psychological lift, if nothing else. Staying on unemployment, and "beating the system" wears you down mentally, and I think you've figured that out from the quote above.

                Also, you mentioned that you started out at $12/hr, and moved up to $24/hr fairly quickly in your previous position. Just because you start out at $8 or $9/hr now, doesn't mean that you'll stay there forever, or even very long. When I started my current job, I started out at 27K/yr. Ten years later, I was making twice that.

                I second JPG's thoughts. Find a career in something you're passionate about, and you will never work a day in your life.

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                  #9
                  Thank you for the quick replies my bills are as follows and i will list the dates


                  Carpayment $260 -due on the 14th
                  Phone- $100-due on the 14th but ive been paying late on the 24th
                  Insurance $136 due on the 30th

                  When added up my bills really arnt much at all i no longer have rent or utlities, yet im still broke? I cant really sell my classic car bc right now its my daily driver im hoping to keep it long enough to get a job then buy a daily driver vehicle once i return to full time work and save enough to buy one for cash then i will be able to keep my classic. As far as otherlines of work im open to anything right now its just tough going from what i was making to somethibg making less, i know i need a job asap, i just want to find a job that i can turn into a career bc thats what i need. As far as lowering my phone ive tried but im in a contaxt for another year.

                  Comment


                    #10
                    Try a few of these out:

                    Google: Job Placement Agencies

                    Google: Job Aptitude Test

                    Or start thinking of competitor firms from where you used to work.

                    Think of the skills you have, and what type of customer might pay for that type of help -- then think of a likely company they currently go to for that kind of help and apply there.

                    All those certifications have to count for something. You have some knowledge around that topic. See what else is out there, or find something temp while you look long term.

                    Comment


                      #11
                      don't wish to sound harsh but the period from Feb. to Nov. 2012 was spent looking for a 'career' job. With benefits running out by February it's critical to get work, any work, even if it has potential to reduce current benefits somewhat it get's you meeting people and paying bills. [Learn the rules of unemployment benefits]

                      All the research says that a huge percentage of people get jobs because of who they know rather than what they know. Make sure everyone you know, knows you need a job and are a willing worker. Most jobs are not advertised or posted for the public. It's terrifying but go talk to someone in Human Resources of every company you can think of. You want to know what you can do to improve your resume and interview skills to acquire employment. They need to know you and you need their help. Push yourself to succeed

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                        #12
                        error post
                        Last edited by snafu; 11-14-2012, 06:11 PM. Reason: error

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