Financial Hole

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
JoeSo
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Financial Hole

Post by JoeSo » Sat Feb 03, 2018 11:22 pm

I am currently heading toward a financial black hole...I'm working 12 hour days just to make ends meet,but now I can't even do that. I've maxed out my cards and am now doing payday loans,but there are only so many in a year I'm allowed from my lender. In the meantime my bills seem to be snowballing. There isn't much I can cut out,and in the meantime some things I can do is maybe take the bus to work and look for a side job on my days off...still not guaranteeing that I'll catch up. Any other suggestions?...

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BolderBoy
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Re: Financial Hole

Post by BolderBoy » Sun Feb 04, 2018 11:46 am

JoeSo wrote:
Sat Feb 03, 2018 11:22 pm
I am currently heading toward a financial black hole...I'm working 12 hour days just to make ends meet,but now I can't even do that. I've maxed out my cards and am now doing payday loans,but there are only so many in a year I'm allowed from my lender. In the meantime my bills seem to be snowballing. There isn't much I can cut out,and in the meantime some things I can do is maybe take the bus to work and look for a side job on my days off...still not guaranteeing that I'll catch up. Any other suggestions?...
#1 rule: You cannot borrow to get out of debt. Borrowing = credit cards, payday loans, etc.

If you are still going backwards and a side job doesn't turn you around then bankruptcy may be your only option. But pay attention to what got you to where you are now and learn from it. The vast majority of folks in your situation got there by living beyond their means.
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect

student
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Re: Financial Hole

Post by student » Sun Feb 04, 2018 11:53 am

I recommend asking specific questions about your credit card debt at https://creditboards.com/forums/

Stormbringer
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Re: Financial Hole

Post by Stormbringer » Sun Feb 04, 2018 11:59 am

Payday loans are a good way to send yourself rocketing to the poorhouse. Watch this video to learn how expensive they really are.

I would start by getting a second job and slashing expenses. You would be surprised what you could cut if you are determined enough. Once you stop the hemorrhaging, start to snowball your debts (i.e. paying off the smallest ones first, then using the money you save work on the bigger ones).
"Compound interest is the most powerful force in the universe." - Albert Einstein

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Rob5TCP
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Re: Financial Hole

Post by Rob5TCP » Sun Feb 04, 2018 12:06 pm

How old are you?
If young, can you move back in with your folks.
Are there ways you can cut expenses.
With a 12 hours workday - are you working 2 jobs or going to school and working ?


What is your income / expenses / debts?
It's hard to give meaningful advise without having any specifics.
One thing not to do; is to raid your retirement accounts (if you have any).
Are these debts from gambling, medical, student loans?
As mentioned above, bankruptcy is one (though not the best option).
Payday loans are the absolute worst.
Payday lenders are known PREDATORS of people in financial peril.
They take a pit and enlarge it many many times bigger.

finite_difference
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Re: Financial Hole

Post by finite_difference » Sun Feb 04, 2018 12:07 pm

Stormbringer wrote:
Sun Feb 04, 2018 11:59 am
Payday loans are a good way to send yourself rocketing to the poorhouse. Watch this video to learn how expensive they really are.

I would start by getting a second job and slashing expenses. You would be surprised what you could cut if you are determined enough. Once you stop the hemorrhaging, start to snowball your debts (i.e. paying off the smallest ones first, then using the money you save work on the bigger ones).
A second job when he’s currently working 12 hours per day?

If you post your general occupation, salary and expenses you may get some advice on how to make things work and/or how to improve your situation.
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh

investingdad
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Re: Financial Hole

Post by investingdad » Sun Feb 04, 2018 12:22 pm

Without sharing details it's hard for folks here to offer up actionable advice.

Stormbringer
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Re: Financial Hole

Post by Stormbringer » Sun Feb 04, 2018 12:27 pm

finite_difference wrote:
Sun Feb 04, 2018 12:07 pm
A second job when he’s currently working 12 hours per day?
He said he had days off. He said was considering a side job. I doubt he's working 5-6 days a week at 12 hours a day or he would be raking in overtime.
Last edited by Stormbringer on Sun Feb 04, 2018 12:43 pm, edited 1 time in total.
"Compound interest is the most powerful force in the universe." - Albert Einstein

coachd50
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Re: Financial Hole

Post by coachd50 » Sun Feb 04, 2018 12:29 pm

JoeSo wrote:
Sat Feb 03, 2018 11:22 pm
I am currently heading toward a financial black hole...I'm working 12 hour days just to make ends meet,but now I can't even do that. I've maxed out my cards and am now doing payday loans,but there are only so many in a year I'm allowed from my lender. In the meantime my bills seem to be snowballing. There isn't much I can cut out,and in the meantime some things I can do is maybe take the bus to work and look for a side job on my days off...still not guaranteeing that I'll catch up. Any other suggestions?...
As others have mentioned, without more specifics, not much help can be given. I will say that in many cases such as yours, when the person says "there is not much I can cut out" many seem to disagree. That is often the root of the problem, different definitions of need and want.

Olemiss540
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Re: Financial Hole

Post by Olemiss540 » Sun Feb 04, 2018 12:41 pm

Go to the library and check out Dave Ramsey The Total Money Makeover.

Work the plan and come back with specific issues or questions for support. Also check out other frugal village or similar forums about Dave Ramsey
I hold index funds because I do not overestimate my ability to pick stocks OR stock pickers.

ChinchillaWhiplash
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Re: Financial Hole

Post by ChinchillaWhiplash » Sun Feb 04, 2018 1:07 pm

You will have to get out of debt by cutting any unnecessary expenses (cable, cell phone, internet, eating out, etc). Set a budget. Pay everything you can on the highest interest debt. Pay the minimum on the others. Once the one you are working is paid, put all of that money onto the next. Repeat until your debts are paid off. Change your spending habits so you don't get back into debt again. If you can't pay cash for something, you can't afford it.

InMyDreams
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Re: Financial Hole

Post by InMyDreams » Sun Feb 04, 2018 1:11 pm

JoeSo wrote:
Sat Feb 03, 2018 11:22 pm
Any other suggestions?...
JoeSo - I'm so sorry for the financial strife you are experiencing. This is your first post, so I suspect you are reaching out in desperation looking for solutions.

Take a breath. Realize that others have been where you are.

I wonder if a credit counseling organization might be your best next step? They can usually negotiate payments and set you up with a workable budget.

I understand that not all those organizations have the consumer's best interest at heart. I hope others here might offer suggestions for finding a reputable organization.

And, if you're looking for advice about frugal living - MrMoneyMustache.com is a great place to start.

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climber2020
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Re: Financial Hole

Post by climber2020 » Sun Feb 04, 2018 1:18 pm

JoeSo wrote:
Sat Feb 03, 2018 11:22 pm
I am currently heading toward a financial black hole...I'm working 12 hour days just to make ends meet,but now I can't even do that. I've maxed out my cards and am now doing payday loans,but there are only so many in a year I'm allowed from my lender. In the meantime my bills seem to be snowballing. There isn't much I can cut out,and in the meantime some things I can do is maybe take the bus to work and look for a side job on my days off...still not guaranteeing that I'll catch up. Any other suggestions?...
Can you list your income and all your monthly expenses? You'll get more useful replies.

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Pajamas
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Re: Financial Hole

Post by Pajamas » Sun Feb 04, 2018 1:18 pm

Whatever you do is going to boil down to making difficult decisions in order to spend less, earn more, or both.

It might help to start with an assessment of your situation, writing everything down on paper: income, expenses, amounts you owe, interest rates you are paying, how you are earning money, what assets you have both material (car, etc.) and non-material (education, experience, skills, etc.), immediate problems, long-term problems, frustrations, how you feel about it all, etc.
Last edited by Pajamas on Sun Feb 04, 2018 1:53 pm, edited 1 time in total.

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Earl Lemongrab
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Re: Financial Hole

Post by Earl Lemongrab » Sun Feb 04, 2018 1:45 pm

You're essentially bankrupt now. If you have large debt and can't keep up with the payments and expenses without more credit, then there's no real way out.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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LadyGeek
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Re: Financial Hole

Post by LadyGeek » Sun Feb 04, 2018 8:17 pm

I removed some off-topic comments. As a reminder, see: General Etiquette
We expect this forum to be a place where people can feel comfortable asking questions and where debates and discussions are conducted in civil tones.

...At all times we must conduct ourselves in a respectful manner to other posters.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

jminv
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Re: Financial Hole

Post by jminv » Sun Feb 04, 2018 9:49 pm

Payday loans make everything worse. You need to stop using these. Look at your expenses, look at charity options, and look at your debt and what portion of it you could discharge in bankruptcy.

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Hawaiishrimp
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Re: Financial Hole

Post by Hawaiishrimp » Sun Feb 04, 2018 10:04 pm

Rob5TCP wrote:
Sun Feb 04, 2018 12:06 pm
How old are you?
If young, can you move back in with your folks.
Are there ways you can cut expenses.
With a 12 hours workday - are you working 2 jobs or going to school and working ?


What is your income / expenses / debts?
It's hard to give meaningful advise without having any specifics.
One thing not to do; is to raid your retirement accounts (if you have any).
Are these debts from gambling, medical, student loans?
As mentioned above, bankruptcy is one (though not the best option).
Payday loans are the absolute worst.
Payday lenders are known PREDATORS of people in financial peril.
They take a pit and enlarge it many many times bigger.
See above. Provide us more details, we can provide some helpful advice here. Not the end of the world. Cheers.
I save and invest my money, so money can make money for me, so I don't have to make money eventually.

clemrick
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Re: Financial Hole

Post by clemrick » Sun Feb 04, 2018 11:12 pm

Try calling 211 and see if there is a United Way referral service in your area. They can tell you where the food bank(s) are. That can "free up" money to pay bills/rent. They might also find some help for some of your bills for a month or so. That would free up more money to go toward other bills. if calling 211 doesn't work, call your local United Way office and ask if they have a referral service.

You can also try nfcc.org to find a nonprofit credit counseling service in your area.

Nate79
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Re: Financial Hole

Post by Nate79 » Sun Feb 04, 2018 11:39 pm

Hard to give advice with no info provided but stop borrowing money. You are only digging yourself deeper and deeper.

Carter3
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Re: Financial Hole

Post by Carter3 » Sun Feb 04, 2018 11:57 pm

Rob5TCP wrote:
Sun Feb 04, 2018 12:06 pm
How old are you?
If young, can you move back in with your folks.
Are there ways you can cut expenses.
With a 12 hours workday - are you working 2 jobs or going to school and working ?


What is your income / expenses / debts?
It's hard to give meaningful advise without having any specifics.
One thing not to do; is to raid your retirement accounts (if you have any).
Are these debts from gambling, medical, student loans?
As mentioned above, bankruptcy is one (though not the best option).
Payday loans are the absolute worst.
Payday lenders are known PREDATORS of people in financial peril.
They take a pit and enlarge it many many times bigger.
^This. Give more details. The people here will help you

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MortgageOnBlack
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Re: Financial Hole

Post by MortgageOnBlack » Mon Feb 05, 2018 12:11 am

First off, you are doing yourself a great service by acknowledging the problem and trying to find a way to correct it. Don't beat yourself up; I for one realize and know everyone is dealt different cards. Please provide additional info about your situation and members in this forum will help you put together a plan. Some steps will be easy and others hard, but there are options.

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 8:52 am

BolderBoy wrote:
Sun Feb 04, 2018 11:46 am
If you are still going backwards and a side job doesn't turn you around then bankruptcy may be your only option. But pay attention to what got you to where you are now and learn from it. The vast majority of folks in your situation got there by living beyond their means.
I don't go anywhere or do anything,I work week to week just to afford groceries and gas...not sure how much that's beyond my means.

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climber2020
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Re: Financial Hole

Post by climber2020 » Mon Feb 05, 2018 9:08 am

JoeSo wrote:
Mon Feb 05, 2018 8:52 am
BolderBoy wrote:
Sun Feb 04, 2018 11:46 am
If you are still going backwards and a side job doesn't turn you around then bankruptcy may be your only option. But pay attention to what got you to where you are now and learn from it. The vast majority of folks in your situation got there by living beyond their means.
I don't go anywhere or do anything,I work week to week just to afford groceries and gas...not sure how much that's beyond my means.
Like many people have already mentioned, you need to provide us with a detailed list of all your monthly expenses (everything regardless of how small or insignificant) or you will not get any useful advice.

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dccboone
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Re: Financial Hole

Post by dccboone » Mon Feb 05, 2018 9:28 am

Olemiss540 wrote:
Sun Feb 04, 2018 12:41 pm
Go to the library and check out Dave Ramsey The Total Money Makeover.

Work the plan and come back with specific issues or questions for support. Also check out other frugal village or similar forums about Dave Ramsey
I will second Olemiss540's recommendation. Read The Total Money Makeover. If possible, sign-up to attend Financial Peace University. There will most likely be a class statrting in your area soon. You will meet others who will walk with you as you reduce debt and get on a better financial footing. One caution; Dave Ramsey's The Total Money Makeover and Financial Peace University are good resources to help people reduce debt and build an Emergency Fund to help protect their financial health. Disregard most of what he recommends related to investing. Bogleheads is a better resource when the time comes to cross that bridge. Good luck!

Mr.BB
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Re: Financial Hole

Post by Mr.BB » Mon Feb 05, 2018 9:45 am

Borrowing money to get out that never works as you can tell. Without knowing your specifics here's a couple things you need to do.
1) create a budget. what's your expenses?
2) If things are as bad as you say, you need to take a hard look at how much you spend are you going out for a drink or two can you shop smarter buy more generic Foods or products if you can find places to trim your budget.
3)Get a new job. bottom line is even if you love what you do if you can't afford to live, you need to get a new job.
4) get new training education your intake a loan off for anything let it be for education/ training and a new job.
5) consolidate all your credit cards into a low pain credit card. You also need to look at what your credit score is so you have some idea of what you need to improve, and overtime that will also help you pay less for a credit.
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

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djpeteski
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Re: Financial Hole

Post by djpeteski » Mon Feb 05, 2018 10:03 am

This board contains some great financial minds that are willing to help for free. Some have pulled themselves up from poverty.

Taking the time to outline your specific situation, with a budget, loans outstanding, pay rates, and even location will allow these great minds to providing meaningful and specific actions to take. As it is only general advice can be given, and while good, could be much more helpful if it was specific to your individual situation.

Taking that time to write that post could be the best investment you can make in your life and the catalyst for positive change.

GCD
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Re: Financial Hole

Post by GCD » Mon Feb 05, 2018 10:08 am

JoeSo wrote:
Mon Feb 05, 2018 8:52 am
BolderBoy wrote:
Sun Feb 04, 2018 11:46 am
If you are still going backwards and a side job doesn't turn you around then bankruptcy may be your only option. But pay attention to what got you to where you are now and learn from it. The vast majority of folks in your situation got there by living beyond their means.
I don't go anywhere or do anything,I work week to week just to afford groceries and gas...not sure how much that's beyond my means.
Ok, so here's an article about how to kill your $1000 grocery bill. https://www.mrmoneymustache.com/2012/03 ... cery-bill/

Anyway, what people are asking you for is something like this: https://www.consumer.gov/sites/www.cons ... t_form.pdf

I cut and pasted the above linked worksheet below so you and other posters could see what's there. It's from a .gov free advice site so I think that's ok. This is the kind of detail people are asking you for. Without the specifics you won't get much other than people telling you to "live below your means". Which is good advice, but can be daunting to implement sometimes.

My income this month
Income Monthly total Paychecks (salary after taxes, benefits, and check cashing fees) $
Other income (after taxes) for example: child support $
Total monthly income $

My expenses this month
Expenses Monthly total Rent or mortgage $
Renter's insurance or homeowner's insurance $
Utilities (like electricity and gas) $
Internet, cable, and phones $
Other housing expenses (like property taxes) $
Groceries and household supplies $
Meals out $
Other food expenses $
Public transportation and taxis $
Gas for car $
Parking and tolls $
Car maintenance (like oil changes) $
Car insurance $
Car loan $
Other transportation expenses $
Health insurance $
Other health expenses (like doctors' appointments and eyeglasses) $
Monthly total Medicine $
Child care $
Child support $
Money given or sent to family $
Clothing and shoes $
Laundry $
Donations $
Entertainment (like movies and amusement parks) $
Other personal or family expenses (like beauty care) $
Fees for cashier's checks and money transfers $
Prepaid cards and phone cards $
Bank or credit card fees $
Other fees $
School costs (like supplies, tuition, student loans) $
Other payments (like credit cards and savings) $
Other expenses this month $
Total monthly expenses $

fposte
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Re: Financial Hole

Post by fposte » Mon Feb 05, 2018 10:25 am

People are talking about grocery expenses, but honestly, if you can cut down your housing that's going to make the biggest difference. If you're living on your own, roommating may be the way to go.

GCD
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Re: Financial Hole

Post by GCD » Mon Feb 05, 2018 11:06 am

fposte wrote:
Mon Feb 05, 2018 10:25 am
People are talking about grocery expenses, but honestly, if you can cut down your housing that's going to make the biggest difference. If you're living on your own, roommating may be the way to go.
OP needs to give details or it's all shots in the dark. From what he's posted he might not even have a housing expense. Maybe he floats between his friend's apartments. Who knows?

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LadyGeek
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Re: Financial Hole

Post by LadyGeek » Mon Feb 05, 2018 4:52 pm

I removed several off-topic posts. Let's take the OP's situation at face value.

JoeSo - Do our suggestions make sense? Do you have any questions?
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

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Earl Lemongrab
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Re: Financial Hole

Post by Earl Lemongrab » Mon Feb 05, 2018 8:13 pm

Yeah, I don't see any point in any more suggestions unless the OP returns with more information. I would say to leave it here if and until that happens.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 10:34 pm

Stormbringer wrote:
Sun Feb 04, 2018 11:59 am
Payday loans are a good way to send yourself rocketing to the poorhouse. Watch this video to learn how expensive they really are.

I would start by getting a second job and slashing expenses. You would be surprised what you could cut if you are determined enough. Once you stop the hemorrhaging, start to snowball your debts (i.e. paying off the smallest ones first, then using the money you save work on the bigger ones).
Saving money? What's that? Anyway I've been getting local payday loans and they're only $15 per $100...and they only give me a $250 limit anyway. Only thing is they have a limit of 8 in a year.

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 10:41 pm

Rob5TCP wrote:
Sun Feb 04, 2018 12:06 pm
How old are you?
If young, can you move back in with your folks.
With a 12 hours workday - are you working 2 jobs or going to school and working ?

What is your income / expenses / debts?
It's hard to give meaningful advise without having any specifics.
One thing not to do; is to raid your retirement accounts (if you have any).
Are these debts from gambling, medical, student loans?
As mentioned above, bankruptcy is one (though not the best option).
I'm 46 believe it or not...pretty pathetic huh?
To answer your questions:
I don't need to list my budget right now,it's too lengthy plus I'm on top of it every day. Not like I'm some slob that has money to blow.
No accounts,retirement or otherwise. Not even savings,just checking to pay bills. Living paycheck to paycheck.
If I do bankruptcy can I still have revolving accounts or get credit? I've heard of partial bankruptcy. My credit score is currently in the 500s.

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 10:43 pm

finite_difference wrote:
Sun Feb 04, 2018 12:07 pm
If you post your general occupation, salary and expenses you may get some advice on how to make things work and/or how to improve your situation.
I'm basically a janitor at this point,nothing fancy. Currently I'm looking for other work but I'm now stuck in a remote area with not many options.

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 10:45 pm

Stormbringer wrote:
Sun Feb 04, 2018 12:27 pm
I doubt he's working 5-6 days a week at 12 hours a day or he would be raking in overtime.
My company currently doesn't offer overtime,so I've got to scrounge around looking for other work. The competition in this area is pretty big too...for such a small area with not alot of options.

thewizzer
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Re: Financial Hole

Post by thewizzer » Mon Feb 05, 2018 10:46 pm

If you just post rambling replies about payday loans, you're not going to get any help. I'm going to assume you're just trolling until you provide more info.

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 10:54 pm

ChinchillaWhiplash wrote:
Sun Feb 04, 2018 1:07 pm
You will have to get out of debt by cutting any unnecessary expenses (cable, cell phone, internet, eating out, etc). Pay everything you can on the highest interest debt. Pay the minimum on the others. Once the one you are working is paid, put all of that money onto the next.
I need my phone for work contact,plus I commute alot so definitely need phone. Eat out very rarely,unless you consider fast food dollar menu. As far as credit cards,I have around 7 now and pay the minimum on each...

Dottie57
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Re: Financial Hole

Post by Dottie57 » Mon Feb 05, 2018 10:56 pm

JoeSo wrote:
Mon Feb 05, 2018 10:45 pm
Stormbringer wrote:
Sun Feb 04, 2018 12:27 pm
I doubt he's working 5-6 days a week at 12 hours a day or he would be raking in overtime.
My company currently doesn't offer overtime,so I've got to scrounge around looking for other work. The competition in this area is pretty big too...for such a small area with not alot of options.
Here are questions to answer.

1. Do you have a place to live? (House, apartment, boarding house, rental , own).
2. How much do you pay for a roof over your head?
3. You need gas for a car? Is it paid for? How much does it cost per month to have a car?
4. Food - how much do you spend a day, week, month for food? Foo bank?
5. What are your health care expenses?
6. Where else does your money go?

Without a picture of your life, no one can make valid suggestions.

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catdude
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Re: Financial Hole

Post by catdude » Mon Feb 05, 2018 10:58 pm

JoeSo wrote:
Mon Feb 05, 2018 10:54 pm
I need my phone for work contact,plus I commute alot so definitely need phone. Eat out very rarely,unless you consider fast food dollar menu. As far as credit cards,I have around 7 now and pay the minimum on each...
OK, which company do you use for phone service? There are low-cost options out there (e.g., Consumer Cellular). As others have said, if you give us more info we can help you.
catdude | | "I yield to the gentleman for a few feeble remarks." (Congressman Thaddeus Stevens)

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 11:02 pm

Pajamas wrote:
Sun Feb 04, 2018 1:18 pm
Whatever you do is going to boil down to making difficult decisions in order to spend less, earn more, or both.

It might help to start with an assessment of your situation, writing everything down on paper: income, expenses, amounts you owe, interest rates you are paying, how you are earning money, what assets you have both material (car, etc.) and non-material (education, experience, skills, etc.), immediate problems, long-term problems, frustrations, how you feel about it all, etc.
I write things down often and try to stay on budget,but of course something always comes out of nowhere to throw it off. As far as assets,nothing left except for a broken car I may be able to get a couple hundred for at most,which is only temporary anyway. Though it is something extra to get a jump on those bills. My frustrations come out in postings in forums,online etc apparently...

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 11:07 pm

Earl Lemongrab wrote:
Sun Feb 04, 2018 1:45 pm
You're essentially bankrupt now. If you have large debt and can't keep up with the payments and expenses without more credit, then there's no real way out.
I went through unofficial bankruptcy when I was young...unofficial because I couldn't even afford a bankruptcy lawyer,so I just let things go until they fell off my credit report then got a secured card eventually to build things back up again...

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 11:09 pm

climber2020 wrote:
Mon Feb 05, 2018 9:08 am
JoeSo wrote:
Mon Feb 05, 2018 8:52 am
BolderBoy wrote:
Sun Feb 04, 2018 11:46 am
If you are still going backwards and a side job doesn't turn you around then bankruptcy may be your only option. But pay attention to what got you to where you are now and learn from it. The vast majority of folks in your situation got there by living beyond their means.
I don't go anywhere or do anything,I work week to week just to afford groceries and gas...not sure how much that's beyond my means.
Like many people have already mentioned, you need to provide us with a detailed list of all your monthly expenses (everything regardless of how small or insignificant) or you will not get any useful advice.
I do my own expenses,I was just looking for some other options. I appreciate the websites etc.

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 11:13 pm

dccboone wrote:
Mon Feb 05, 2018 9:28 am
Olemiss540 wrote:
Sun Feb 04, 2018 12:41 pm
Go to the library and check out Dave Ramsey The Total Money Makeover.

Work the plan and come back with specific issues or questions for support. Also check out other frugal village or similar forums about Dave Ramsey
I will second Olemiss540's recommendation. Read The Total Money Makeover. If possible, sign-up to attend Financial Peace University. There will most likely be a class statrting in your area soon. You will meet others who will walk with you as you reduce debt and get on a better financial footing. One caution; Dave Ramsey's The Total Money Makeover and Financial Peace University are good resources to help people reduce debt and build an Emergency Fund to help protect their financial health. Disregard most of what he recommends related to investing. Bogleheads is a better resource when the time comes to cross that bridge. Good luck!
I assume they charge for his programs,after all that's most likely how he stays in business. I tried listening to his radio show,as well as shows like Suze Orman...but my financial situation is a joke next to everyone that calls in,and it hurts to even hear those people who still have something to work with. I'm hanging by a thread just above homeless probably. I wrote to Suze once and they didn't even reply,not worth it I suppose.

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 11:18 pm

Mr.BB wrote:
Mon Feb 05, 2018 9:45 am
Get new training education your intake a loan off for anything let it be for education/ training and a new job.
Consolidate all your credit cards into a low pain credit card. You also need to look at what your credit score is so you have some idea of what you need to improve, and overtime that will also help you pay less for a credit.
If I do educational training wouldn't that eat into my work hours? Time is money at this point. I'll look into the consolidation thing,if they'll even consider me. But can I still use credit while doing that? At this point I pay the minimums so I don't get the late fees,but then end up needing to use the cards anyway so they're usually back down soon enough. I think my credit score is around 570 now at best...

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 11:22 pm

GCD wrote:
Mon Feb 05, 2018 10:08 am
Ok, so here's an article about how to kill your $1000 grocery bill. https://www.mrmoneymustache.com/2012/03 ... cery-bill/
My grocery bill is maybe $100 a week...I'll get to that worksheet the next chance I get. Right now I'm working 8 days straight,so maybe an hour or 2 after getting home to bedtime do I have time to eat dinner,check email etc.

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 11:25 pm

fposte wrote:
Mon Feb 05, 2018 10:25 am
People are talking about grocery expenses, but honestly, if you can cut down your housing that's going to make the biggest difference. If you're living on your own, roommating may be the way to go.
Been looking into that,but as my luck has it this has become an exceptionally competetive area for even rentals. Though if I keep getting hit with these late fees from the landlord maybe they'll come up with a cheaper place,they've mentioned it before. I live with a wife and pets is about it so roommates is out...

JoeSo
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Re: Financial Hole

Post by JoeSo » Mon Feb 05, 2018 11:29 pm

catdude wrote:
Mon Feb 05, 2018 10:58 pm
JoeSo wrote:
Mon Feb 05, 2018 10:54 pm
I need my phone for work contact,plus I commute alot so definitely need phone. Eat out very rarely,unless you consider fast food dollar menu. As far as credit cards,I have around 7 now and pay the minimum on each...
OK, which company do you use for phone service? There are low-cost options out there (e.g., Consumer Cellular). As others have said, if you give us more info we can help you.
Already got that figured out...wife has a discount plan with AT&T and we've had our phones for years,plus my number is out there on my resumes etc so I'd have to change all that because I'd have to get a new number with another carrier. The area I'm in is pretty remote so the only towers around are ATT or Verizon...and Verizon is more expensive.

CFM300
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Re: Financial Hole

Post by CFM300 » Tue Feb 06, 2018 12:28 am

JoeSo wrote:
Mon Feb 05, 2018 11:29 pm
Already got that figured out...wife has a discount plan with AT&T and we've had our phones for years,plus my number is out there on my resumes etc so I'd have to change all that because I'd have to get a new number with another carrier. The area I'm in is pretty remote so the only towers around are ATT or Verizon...and Verizon is more expensive.
Does your wife work?

If you list your income/assets and your expenses/debts, we can offer constructive advice. Including whether you should consider bankruptcy. Otherwise, we're shooting in the dark.

By the way, you don't have to change your phone number when you change carriers.

CFM300
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Re: Financial Hole

Post by CFM300 » Tue Feb 06, 2018 12:34 am

JoeSo wrote:
Mon Feb 05, 2018 8:52 am
I don't go anywhere or do anything,I work week to week just to afford groceries and gas...not sure how much that's beyond my means.
"Living beyond your means" just means that you (or your family) are spending more than you earn -- which by your own admission is what's happening.

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