What would YOU do? College Student Q's???

[fg1011224]

Before you read, I'm hardly considered a hardship. More like I'm going to be in a pickle VERY soon and am interested in some savvy financial advice .

I've recently been put in a jam financially and am wondering how I'm going to pay all my bills the best way possible. I'm sure some of you could help me out please because I'm very confused and have never had to handle all this on my own ... I want to do things the right way so that I'm better prepared in the future if this were to happen again.

I'm a full-time student who does part-time work + odd jobs in order to pay my bills each month: (Used to be full-time but you'll read more about that in a bit.)

$300 rent + 50-70 utilities
$65 phone (contract for 2 yrs - why did i do this???)
$51 gym (contract til 01/12)
$72 bus pass
$50 groceries + eating out
TOTAL $538 dollars at LEAST

At the beginning of this year, I was making AT LEAST $1,100+ working full-time minimum wage to cover these bills and whatever luxuries I dreamed of. I had a small savings but went on trip for my birthday so that's pretty much gone. Upon returning from my birthday I learned that:

Because of a lot of stuff happening with my employers, my hours were drastically cut (thankfully I'm still working though ). I have only been getting $650 for part-time work plus maybe an extra $50 since my odd jobs have scaled down as well :/. So that's $700. I can still pay my bills and have a little left over...

However, I've recently had to buy a new notebook for school which was $300 as well as a few textbooks my school grant didn't cover. Sooo that's $438.00 I have on a credit card after it being $550+ and paying it off with the left over money I had from the another weeks pay check. The minimum payment from now on would be $50 or so that I don't really have...

I'm really kicking myself in the butt with these contracts. I'm one of those people who didn't expect to lose so many hours in BOTH my jobs... I was planning on starting a savings again but never got to it because of a lot of random bills popping up that I have taken care of already- thank goodness (gym screwed me with an extra $35 late fee one month that wasn't my fault, etc...).

Furthermore, with school staring I will only be making a MINIMUM $450 a month at one job and maybe a $75-$100 on the side if I hustle which I'm not so sure about because of school.

The rest of my financial aid won't be here until maybe November. So I have 3 months of being in debt by almost a $100 each month plus the $438 already in my credit card.

Side note: I WAS aware of this pay cut - it happens when I start school FT but it's never been this bad. I was in a serious relationship and we had discussed this situation months ago. My ex was going to move in with me to help offset the cost of my already incredibly cheap rent as well as take over the gym membership that was part his. Things happened and I broke it off with him, but NOW MY BILLS ARE SCARING ME because he did help me out financially with groceries or anything I needed a little help with the last couple of months. I learned a valuable lesson to not depend on ANYONE...

What would you do in my situation?

I've already borrowed money from my mother approx $300 but that's gone because of some random bills the last couple months. I'm considering riding my bike to work to save the $72 on a monthly bus pass, but I'm seeing this as not reliable as my school and work are 12 miles apart with my house in the middle. I don't have friends with cars (maybe I need more friends??? ) I can't move in with my mother because her and my sister already live in a one bedroom cottage. I've already done the sleeping on the couch thing and that's not reasonable right now - not yet at least. I don't wish to move because my rent is already dirt cheap, I got lucky plus the cost of moving out and putting my stuff in store costs money too. Rent around here for what I have is $500-$600 so I'm thinking it's smarter to stay put... I've stopped buying foods except for fruits, some pasta, and vegetables which comes out to about $15 - $20 a month because I make so much and freeze it, plus I have food in my pantry from when I had more money so that's helped. I need shoes and a haircut and things like that but I'm just putting it off.

In conclusion, my gym, phone and rent/ utilities HAVE to be paid and then my credit card is sitting there smiling at me . It's a student credit card btw...

Also, I was planning on getting a used car with some of my financial aid ($5000) after paying my credit card... Should I hold off in case I lose more hours at my jobs? If I had a car, I could get a better job in a better area for better pay. I live in an area where you have to be bilingual or they are just not interested in hiring you so I've been having an extremely tough time finding a better job where I didn't have to work a million hours for little pay AND I do have lots of experience... That's why I work the odd jobs assisting in a daycare, yard work for an elderly lady, etc... I have also begun selling some of my things on Craigslist :/.

I know my situation is very tame considering I don't have any kids to feed or massive debt, but I'm just making sure I take the right steps to best maintain my good credit for at least a few months :/. I've always been very good with money but now I'm kicking myself for getting myself into this mess.

MY MAIN QUESTIONS:

Should I suck it up and ride my bike 12 miles back and forth for the next few months until I can afford my $72 bus pass? I'm in okay shape but I'm more worried about my safety. I'd be at school at night.

Do I remain calm and put whatever I can't pay for on credit while paying the minimum on the card for the next three months?

Do I STOP paying my gym membership in order to have the extra $50 and just pay off the late gym fees later with my financial aid?

Do I start borrowing from friends and pay them back in three months when my financial aid goes through so that I can still pay all my bills on time? (This bothers me - They've offered though because they can see I'm worried).

Would you move out of your $300/50 a month place to live while you catch up on all your bills so you can move out again a couple months later and then most definitely PAY MORE for rent somewhere else + deposit?

Should I risk getting the car and consider it an investment towards my future (better job - I get asked if I have a car in interviews a lot) or just save the money for a rain day like the days that are coming?

IF YOU WERE IN YOUR EARLY-20S IN COLLEGE with only yourself to worry about, WHAT WOULD YOU DO??? I'm looking for food for thought.

PLEASE AND THANK YOU FOR READING MY RANT .

P.S. I cannot sell my plasma - people keep telling me this but no lol.

[ladykemma2]

MY MAIN QUESTIONS:

Should I suck it up and ride my bike 12 miles back and forth for the next few months until I can afford my $72 bus pass? I'm in okay shape but I'm more worried about my safety. I'd be at school at night.i would keep the bus pass

Do I remain calm and put whatever I can't pay for on credit while paying the minimum on the card for the next three months?no

Do I STOP paying my gym membership in order to have the extra $50 and just pay off the late gym fees later with my financial aid?what would happen if you just stopped paying this and cancelled your membership?

Do I start borrowing from friends and pay them back in three months when my financial aid goes through so that I can still pay all my bills on time? (This bothers me - They've offered though because they can see I'm worried).

Would you move out of your $300/50 a month place to live while you catch up on all your bills so you can move out again a couple months later and then most definitely PAY MORE for rent somewhere else + deposit? stay where you are

Should I risk getting the car and consider it an investment towards my future (better job - I get asked if I have a car in interviews a lot) or just save the money for a rain day like the days that are coming?no car

IF YOU WERE IN YOUR EARLY-20S IN COLLEGE with only yourself to worry about, WHAT WOULD YOU DO??? I'm looking for food for thought.pizza delivery? other job?

PLEASE AND THANK YOU FOR READING MY RANT .

i would cancel that phone and get a track phone from walmart

P.S. I cannot sell my plasma - people keep telling me this but no lol.

------------------------------------

[Greebo]

$300 rent + 50-70 utilities
$65 phone (contract for 2 yrs - why did i do this???)
$51 gym (contract til 01/12)
$72 bus pass
$50 groceries + eating out
TOTAL $538 dollars at LEAST
So that's $700. I can still pay my bills and have a little left over...

That's a start.

The minimum payment from now on would be $50 or so that I don't really have...

Super math bunny says that $700-$538 == more than $50.

Furthermore, with school staring I will only be making a MINIMUM $450 a month at one job and maybe a $75-$100 on the side if I hustle which I'm not so sure about because of school.

Sleep less, work more.

The rest of my financial aid won't be here until maybe November. So I have 3 months of being in debt by almost a $100 each month plus the $438 already in my credit card.

Or find another job.

Side note: I WAS aware of this pay cut - it happens when I start school FT but it's never been this bad.

So you *had* a chance to save which you missed, now you're paying the price. Ok, so the next 3-4 months SUCK and you NEVER miss the opportunity to save again.

What would you do in my situation?

#1)
STOP
BORROWING
MONEY

More to follow.

I'm considering riding my bike to work to save the $72 on a monthly bus pass, but I'm seeing this as not reliable as my school and work are 12 miles apart with my house in the middle.

Go to good will and buy some good rain gear and prepare to get a LOT of exercise for the next 4 months. (Look, it's only 120 days, you are young so tough it out.)

Also, I was planning on getting a used car with some of my financial aid ($5000) after paying my credit card... Should I hold off in case I lose more hours at my jobs?

Is this financial aid a grant or is it debt?

Either way, NO - NO CAR. BUS PASS once you get it. Get out of debt next. SAVINGS next. Then maybe a car if you have a clear pic of what the long term costs will be.

CARS EAT MONEY. You don't have any. Learn to love your bike and the bus.

If I had a car, I could get a better job in a better area for better pay.

Yeah or you might NOT get that better job anytime soon and be up a creek even more.

I've always been very good with money but now I'm kicking myself for getting myself into this mess.

Correction: You've been good at fooling yourself into thinking you were good with money. Now you need to get good with it for real, which means LONG TERM thinking first.

Should I suck it up and ride my bike 12 miles back and forth for the next few months until I can afford my $72 bus pass? I'm in okay shape but I'm more worried about my safety. I'd be at school at night.

Yes. Get reflective tape.

Do I remain calm and put whatever I can't pay for on credit while paying the minimum on the card for the next three months?

NO! STOP BORROWING MONEY!

Do I STOP paying my gym membership in order to have the extra $50 and just pay off the late gym fees later with my financial aid?

YES, Drop the gym, you'll be biking for exercise.

Do I start borrowing from friends and pay them back in three months when my financial aid goes through so that I can still pay all my bills on time? (This bothers me - They've offered though because they can see I'm worried).

NO!

Would you move out of your $300/50 a month place to live while you catch up on all your bills so you can move out again a couple months later and then most definitely PAY MORE for rent somewhere else + deposit?

NO!!!!

Should I risk getting the car and consider it an investment towards my future (better job - I get asked if I have a car in interviews a lot) or just save the money for a rain day like the days that are coming?

OH HELL NO!!!

IF YOU WERE IN YOUR EARLY-20S IN COLLEGE with only yourself to worry about, WHAT WOULD YOU DO??? I'm looking for food for thought.

Live on dirt.

When I was your age, for a while there I slept on pool tables in an after hour night club a friend of mine owned and ate PB sandwiches on cheap white bread with no jelly.

You can tough this out for a few months.

P.S. I cannot sell my plasma - people keep telling me this but no lol.

So... hooking is out, huh?

KIDDING!!!

[alotofgooddeals]

I love the real sense of humor...I so wish i could talk to hubby that way and he would get it...but i think if i did...he wouldn't like it....he'd probably get the picture but i would probably get the boot out the door... haha....

That's a start.


Super math bunny says that $700-$538 == more than $50.


Sleep less, work more.


Or find another job.


So you *had* a chance to save which you missed, now you're paying the price. Ok, so the next 3-4 months SUCK and you NEVER miss the opportunity to save again.


#1)
STOP
BORROWING
MONEY

More to follow.


Go to good will and buy some good rain gear and prepare to get a LOT of exercise for the next 4 months. (Look, it's only 120 days, you are young so tough it out.)


Is this financial aid a grant or is it debt?

Either way, NO - NO CAR. BUS PASS once you get it. Get out of debt next. SAVINGS next. Then maybe a car if you have a clear pic of what the long term costs will be.

CARS EAT MONEY. You don't have any. Learn to love your bike and the bus.


Yeah or you might NOT get that better job anytime soon and be up a creek even more.


Correction: You've been good at fooling yourself into thinking you were good with money. Now you need to get good with it for real, which means LONG TERM thinking first.


Yes. Get reflective tape.


NO! STOP BORROWING MONEY!

YES, Drop the gym, you'll be biking for exercise.


NO!


NO!!!!

OH HELL NO!!!


Live on dirt.

When I was your age, for a while there I slept on pool tables in an after hour night club a friend of mine owned and ate PB sandwiches on cheap white bread with no jelly.

You can tough this out for a few months.


So... hooking is out, huh?

KIDDING!!!

[OOwl]

I always enjoy reading Greebo's advice. He types like Dave Ramsey talks.

My daughter just graduated from college so I do have some idea of the challenges you face. She chose to live at school instead of free at home, so she had to pay for those related expenses and her budget and work schedule looked a lot like yours. You already have great advice from others, but I just want to put out there that if you don't have health insurance (like through your parents, like my daughter did when she was in school), I say you should appropriate some to a policy that covers major health events. It's sad to have something happen, then have all that hospital debt follow you into your new life. That's the only tidbit of advice I have. Best of luck to you.

[Contrary Housewife]

Can you return the notebook? It seems unnecessary to me. Yeah, I know it is cool to have and everyone else has one these days, but do you really NEED it or is it just a convenience? Surely the universities still have student computer labs.

At your age I was living on my own, working two part time jobs, walking to the bus station or the train to get to school, eating one meal a day, taking a full load at college, and counting every penny. I spent 18 hours a day either on my feet or in a classroom. I did not get new clothes unless someone gave me something. I got a haircut once a year with Christmas money, from the beauty school students. I did not see the inside of a restaurant until after I had graduated, not even fast food. (With the exception of the school cafeteria where I could get reduced price food) There was even one semester when I couldn't afford the books, but somehow I got through with passing grades.

So I think you can do this, but you really need to reassess your priorities and be willing to give up things you've thought were required until now.

[kita]

The numbers you have posted may seem small but it is always a hardship when your income doesn't cover your outgo.

$300 rentCan you get a roommate for the term? Think of students who have an internship or one semester to go for school. Or students who are in a short-term certificate program.
+ 50-70 utilitiesGet really serious about lowering your utilities. Fall shouldn't require any heat or cooling.
$65 phone (contract for 2 yrs - why did i do this???)
$51 gym (contract til 01/12) I have never had a gym memebership (and it shows , but I have heard that you can ask for a "vacation" for X number of months. It would extend your contract, but would help you thruogh the next few months.
$72 bus pass Is this the student rate? Also, I get a 50% discount off a bus pass from my employer. I get on for my niece who is living with me, even though I have a car. You also might look at the cost of a monthly bus pass vs. riding the bike with a ten-pack of tickets as back-up.
$50 groceries + eating out Well, I suppose you know that there won't be any eating out for a while. But let me commend you on the $50 a month for food. That is very, very good.
TOTAL $538 dollars at LEAST

[mndtrp]

Should I suck it up and ride my bike 12 miles back and forth for the next few months until I can afford my $72 bus pass? I'm in okay shape but I'm more worried about my safety. I'd be at school at night.

Is $72 really the cheapest you can get? What if you alternated riding your bike and taking the bus every other day?

Do I remain calm and put whatever I can't pay for on credit while paying the minimum on the card for the next three months?

Remain calm, but don't put anything else on your card.

Do I STOP paying my gym membership in order to have the extra $50 and just pay off the late gym fees later with my financial aid?

Talk to the gym. They may be able to work things out with you. If not, how much will it cost to break the membership? If it's $200, it isn't really worth breaking, unless you can pay that fee at any point down the road.

Do I start borrowing from friends and pay them back in three months when my financial aid goes through so that I can still pay all my bills on time?

No, unless you're ok with losing those friends. While you may pay them back with no problems, it's just as likely you won't be able to, and people get weird with money.

Would you move out of your $300/50 a month place to live while you catch up on all your bills so you can move out again a couple months later and then most definitely PAY MORE for rent somewhere else + deposit?

No. Maybe try to get a roommate.

Should I risk getting the car and consider it an investment towards my future (better job - I get asked if I have a car in interviews a lot) or just save the money for a rain day like the days that are coming?

Absolutely not. Investments don't always pan out, and nothing you think you'll get is guaranteed, except more money going out of your wallet.

IF YOU WERE IN YOUR EARLY-20S IN COLLEGE with only yourself to worry about, WHAT WOULD YOU DO???

I would:
cancel the phone, get something far cheaper
look for reduced price buss passes
look for other odd jobs
figure out why there are so many "random bills" popping up, and stop them
stop eating out
look for things in my house I don't need, and sell them
start looking for used notebooks and textbooks
keep a ledger of all expenditures, and then start reducing those expenditures

P.S. I cannot sell my plasma - people keep telling me this but no lol.

Yes, you can, you just won't. I understand, and don't hold it against you. You aren't in too bad of shape, yet.

[gmarie]

Find a temporary roommate... sell on craigslist or ebay. Sell stuff for your mom (with her permission of course!) Sell the laptop. DO NOT buy a car. Look for odd jobs on Ebay or put up fliers. Babysitting, Pet Sitting, Housecleaning, etc.

Good luck!

[Luv2BeFrugal]

Do you have any friends who can cut hair? You could do some cleaning or what-not in exchange for a haircut...

Have you looked into Freecycle? You usually have to donate one item first, but after that anything posted is up for grabs...which often include new/sealed food items, clothing, etc. And, have you checked the free section of craigslist?

Look around your area for anything food-wise you can get for free...even a soup kitchen. Churches often have Wednesday evening meals - offer to help clean afterward in exchange for supper... Call local churches and ask if they have a free food pantry...supplementing your current pantry will help stretch your food $$ even more (although, you're sure doing great at that, already!).

If you need any more school supplies (like really NEED them)...start watching the back to school sale ads NOW. It's better to spend a penny now for a 100 pack of notebook paper than 1.50 in a month... Office Max has some GREAT deals this week (including that pack of paper! - yes, I'm a college student, too, so am watching).

Put a post on your Facebook page that you're willing to babysit for friends/relatives/etc on Friday nights, weekends, etc. (whenever you're not working your other job or in school). People are always happy to have someone they know/trust to sit for their kids...you can usually get a meal or so out of that, too. I even had a friend trade a night of sitting for use of that family's washer/dryer - which was worth a good chunk of change (I'm assuming you use a coin-op?).

Wishing you luck!! Let us know how things go for you... Hugs!

[Beejay]

Speaking from a Mom's perspective, if my college-age daughter (I'm assuming you are female ) rode a bicycle back and forth twelve miles a night, EVERY NIGHT, I would freak out !! Reducing your expenses is important, but your safety is a priority also ! Please keep the bus pass.

[Beejay]

How about becoming a tutor in your spare time? Many parents would pay well for a college student to tutor their child. You could post notices in supermarkets, church bulletin boards, etc.

[fg1011224]

Speaking from a Mom's perspective, if my college-age daughter (I'm assuming you are female ) rode a bicycle back and forth twelve miles a night, EVERY NIGHT, I would freak out !! Reducing your expenses is important, but your safety is a priority also ! Please keep the bus pass.

Thank you!!! No one takes me serious about this . I agree. My solution is to get a child's bus pass that my sister will buy for me . They don't check and it's only $20!!!

My responses to the other replies:

Thank you very much everyone who replied POSITIVELY. I wasn't really looking for criticism but I think we all have our bad days .

I called my gym, I can't freeze my account. EXTREMELY DISAPPOINTED since I've been going almost a year but it's "against the rules." I'm going to go in an speak to a manager and maybe they'll be nice to me if I explain. Worth a shot.

I can't get a roomie since I'm the roomie. My room's 100 sq. feet. They'd be sleeping in my bathroom lol. But thank's for mentioning it to those that did .

The most obvious answer I got back was to look for a new job and like I said in my original post, - I AM but I'll continue to search .

Wish I could get a "Pay as You Go", but sadly, they aren't reliable where I live. I had two before this phone and it was horrible. I get called into work a lot for one of my jobs, I work with kids, and having an unreliable service is irresponsible :/. I'm on a contract, I can't just not pay either.

Someone said this is my fault for getting myself in this situation. Fair enough, but like I said in my original post is that I DID have a savings and then a savings again, but because of random expenses (medical!!!) it was quickly depleted. It happens :/. I can't fight all my medical issues but I try lol. HOWEVER, I will be better prepared for ANYTHING, especially next semester in case I have more medical issues.

********I'M GLAD TO SAY I FOUND A SOLUTION TO MY MINI-TROUBLES! I decided to drop some credits. I receive $100 back (to go towards my credit card) from textbooks and I have more time for work . My boss and I discussed new hours so I'll be getting some new money in my pocket . With the money I'll save on my bus pass (72 to $20 now) I'll be able to put towards my credit card and pay that off in several weeks. I'll also be downgrading my phone plan by $10. I should be out of debt by the end of September*******

That was close. Thanks you all .

[fg1011224]

Can you return the notebook? It seems unnecessary to me. Yeah, I know it is cool to have and everyone else has one these days, but do you really NEED it or is it just a convenience? Surely the universities still have student computer labs.

At your age I was living on my own, working two part time jobs, walking to the bus station or the train to get to school, eating one meal a day, taking a full load at college, and counting every penny. I spent 18 hours a day either on my feet or in a classroom. I did not get new clothes unless someone gave me something. I got a haircut once a year with Christmas money, from the beauty school students. I did not see the inside of a restaurant until after I had graduated, not even fast food. (With the exception of the school cafeteria where I could get reduced price food) There was even one semester when I couldn't afford the books, but somehow I got through with passing grades.

So I think you can do this, but you really need to reassess your priorities and be willing to give up things you've thought were required until now.

Lol this is what I'm turning into... Down to one big meal a day .

I WISH I could return the netbook but my small school doesn't have 24 hour computer lab like most universities and with my work hours, I wouldn't have much time on the computers at school. I was really annoyed when I had to buy it because I HATE large expenses like a darn laptop. I also use it for work so it was almost unavoidable. The man at Office Depot said I was getting a great deal since it's an excellent notebook. I think he was being genuine so that made me feel a lot better...

[fg1011224]

Do you have any friends who can cut hair? You could do some cleaning or what-not in exchange for a haircut...

Have you looked into Freecycle? You usually have to donate one item first, but after that anything posted is up for grabs...which often include new/sealed food items, clothing, etc. And, have you checked the free section of craigslist?

Look around your area for anything food-wise you can get for free...even a soup kitchen. Churches often have Wednesday evening meals - offer to help clean afterward in exchange for supper... Call local churches and ask if they have a free food pantry...supplementing your current pantry will help stretch your food $$ even more (although, you're sure doing great at that, already!).

If you need any more school supplies (like really NEED them)...start watching the back to school sale ads NOW. It's better to spend a penny now for a 100 pack of notebook paper than 1.50 in a month... Office Max has some GREAT deals this week (including that pack of paper! - yes, I'm a college student, too, so am watching).

Put a post on your Facebook page that you're willing to babysit for friends/relatives/etc on Friday nights, weekends, etc. (whenever you're not working your other job or in school). People are always happy to have someone they know/trust to sit for their kids...you can usually get a meal or so out of that, too. I even had a friend trade a night of sitting for use of that family's washer/dryer - which was worth a good chunk of change (I'm assuming you use a coin-op?).

Wishing you luck!! Let us know how things go for you... Hugs!

Not so worried about the haircut. I'll survive . Or I'll go to the barber and pay $7 if I become a freak show. Great suggestion but I don't think I know anyone or TRUST anyone enough with my hair. Bad haircut experiences lol.

I've been using Freecycle but it's not really great in my area. I LOVE Craigslist but mostly use it for selling stuff.

In terms of food, not really interested in getting free food or things like that. I defintely don't need any more "stuff". I do use it for odd jobs though . I'd rather the food go to a hungry family or a homeless person than little old me who is in a temporary bind .

Lol I know what you mean about school supplies. I actually work in a place where I get that all for free so I'm totally covered in that aspect but thanks for mentioning it - you were the only who reminded me of this.

THANK YOU SO MUCH. I loved your post best - so positive and made me feel better after reading some of the other posts :/ so thank you a million!!!