Need to pay rent situation

[smokescreens]

Hey there don't want to waste your time but I'm young and need some quick advice. Currently I'm living in a very expensive city and I need to move out of my place soon. With my job and selling stuff I'm just barely paying the bills. Doing the math I might not have enough to pay the next one. However I do have an insurance settlement from a car crash a while back and it's suppose to be sent to me in five months. If it comes down to it I'll live somewhere cheap with some random roomies but I'd rather not because this moneys coming soon and once it does I'll be set. So I guess what I'm asking is how can I accomplish this? Should I get a credit card and charge it for the next five months and then pay it off? I understand rooming with someone on craigslist would be the best option but I'd much rather start renting a nice place/house.

Thanks!

[bjl584]

I'd think about moving and/or finding another job to boost income. It sounds like you are in a situation where you are living above your means. What happens when you spend your way through all of the insurance settlement money? You will be right back where you started,

[smokescreens]

Thanks I appreciate the advice. I was thrown into my living situation with little knowledge, at this point its hard to pay future bills because of my past ones. As a student getting another job would be a total pain. Once I have this chunk of change it'll boost me in the right direction. I don't believe I'll be where I am after I get it but I have little knowledge of credit cards and was just wondering if I could achieve this, it would save me the frustration.

[disneysteve]

Very few places allow you to charge your rent payments. Even if you find one that does, the fact that you need to consider that option should tell you that there is a problem. If you can't afford your rent, you shouldn't be taking the apartment. If you need to depend on that settlement to pay your rent, you can't afford the apartment.

Find a place to live that you can afford to pay on your actual income not including dipping into that settlement money.

[breathemusic]

You make finding random roomies on craigslist sound like a bad thing. I've been sharing a townhouse with 3 additional roomies for the past 5 years since I graduated from college. Every single roomie has been added through craigslist and since I moved in, enough people have moved in and out that I've had 11 different roomies. Only 1 of them was a real dud and fortunately she only stayed 11 months. People who look for roommates on CL aren't just looking to fill space and get part of the rent paid, they're looking for someone who they like enough personality-wise to want to share living space with. You should be able to find someone who you can not only get along with, but potentially even become friends, hang out, etc. It's really not that bad. And given your financial situation, it sounds like it's what you need to do.

[smokescreens]

Thanks Steve. I read your reply with much consideration looks like I'll be moving into a studio until I start making myself more moneys.

I wouldnt mind moving in with people on craigslist but that is good to hear, certainly sounds like it could be fun. I just enjoy the luxury of having my own place and my friends are settled in at the moment.

[papa_squat]

Thanks Steve. I read your reply with much consideration looks like I'll be moving into a studio until I start making myself more moneys.

I wouldnt mind moving in with people on craigslist but that is good to hear, certainly sounds like it could be fun. I just enjoy the luxury of having my own place and my friends are settled in at the moment.

Well, living by yourself is a luxury, just as you said. But you need to determine if it's a luxury you can afford first or you'll end up in an even worse position later on.

If you're looking for real advice on this board, you need to provide real numbers.

INCOME: How much money do you earn (after taxes) at your current job?
If you don't have a job, how much financial aid do you receive each month?
Do you receive money from parents?
If you do not know exactly how much you'll receive in your settlement, don't post a number.
Don't count on receiving anything in that case.

SAVINGS: Do you have any in case of an emergency?

DEBT: Do you have any debts?
What are the balances, interest rates, and the monthly payments?

EXPENSES: How much is your current rent and/or how much will the rent be at the new place?
What do you expect to pay for things like food, utilities, transportation, clothes, school books, etc.?

GOALS: What do you want your finacial picture to look like over the next year?
Do you need to save money for an important purchase like a new car or next semester's books?
How do you plan to improve your financial situation so you're not paying for past mistakes anymore?

My only real advice for you is don't count your chickens before they've hatched: insurance companies can drag their feet on settlements and you never know what could happen between now and when that money comes in. In the meantime, you need to learn to live within your CURRENT means. Take a look at your numbers, post them here if you can and check back regularly for advice.

Read the other posts on the boards, too. There's a lot you can learn from the folks around here. I've been here a couple of years and I've learned a lot.

[snafu]

It's best not to count on full, future settlement payout as there are often fees and charges you never expected. If you can't afford the upcoming Feb. rent, perhaps you need to find a roomie before you wreck your credit. Trying to live off a credit card is a sure fire road to disaster. Payments must be made as due and even a day late and a dollar short causes interest rates to ratchet up to double digits.

Best to run the numbers to make sure you can afford a studio apt. including damage deposit and 1st & last month's rent. I don't know your specifics but the utilities are often demanding a deposit too.

[Justin Pierce]

If you can I suggest you get another job to help support your financial expenses that way you won't have any more problems to deal with in the future...