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Thread: the black hole of disaster!
05-29-2007, 05:09 AM #1
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the black hole of disaster!
I am in this badddd mood where I feel like I am never going to achieve or be able to afford anything.
I am working two jobs now, and my 'other half' is working one, almost full time. both of us are still at a minimum wage of $7.90 I seriously feel like to have a nice car, or too be able to move out I am not going to be able to afford ANYTHING!!!!!!!!
and I feel like I am going to be driving my Chevy s10 forever. and I am just so frusterated!!! help me!!!
how do I save/make money fast?!!?!
and PLUS I owe my mom like 34897502394875 dollars and I have to pay car insurance again soon! AND GAS IS SO EXPENSIVE
i feel like ive fallen into the black pit of doom, help me!!!!
- 05-29-2007, 05:17 AM #2
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Everyone feels that way from time to time. You need to look at the bright side of things such as you have a car that runs and a place to live. I dont know about your bills but when you are trying to get out of debt it seems like you will NEVER get there. You will slowly. Also while doing so, dont deprive yourself completely, treat yourself to something small and affordable05-29-2007, 07:06 AM #3
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I know the feeling
I had to jump on this one. I just started budgeting and planning and let me tell you I am farther down the black hole. But the first step is realizing by looking at the whole picture that accumulating debt didn't happen over night either so therefore being debt free won't come overnight. "BUT"... taking the first step to having a plan "IS" budgeting and planning.
After MONTHS of just blowing and going, my car was reposessed last month and we are now a one family car. I had become overwhelmed with gas rising prices and the car was really a piece of crap. It was from a "tote the note" place. I am now riding a DART (Dallas Area Rapid Transit) van that commutes from my hometown to Dallas (1 hour 10 min) each way. Last month I paid $190.00 in rideshare fees. Now that we've added 2 more riders my fare will be 80.00 a month. (So that's 20 bucks a week). I saved there. So I am using 1/2 the gasoline from the vehicle (if I was driving it) and putting it back into the debts and using the remaining to pay back the dealership.
It does get better.. REALLY it does.
~Melissa~05-29-2007, 10:31 AM #4
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It all takes time. I noticed you're very young....... 18. It's a GREAT thing that you are looking at being frugal at this stage in your life. By starting now you'll be WAY ahead of the game as you get our age.
I have a daughter who's your age. She's sometimes feeling the same as you, working 2 jobs........ only she can't even afford a car.
We're teaching her to budget her money and be responsible for her spending choices. Most of her money goes to paying ½ her university tuition (we pay the other ½). She also puts her share of gas in my car because she's the one who uses it most.
Just set yourself up with a budget with what money you make. Are you still in school? Is there any way to make any more extra money?? Earning a little extra will help put that extra money away or pay off your mom faster and save for another car. Even the smallest amount.
As an example, we're trying to get our house paid off faster because my husband is possibly going to be out of work in a couple years (looks like the company might pull right out of our area). We are putting as much out of his paycheques away as possible. I have a small business I run out of my home. I was looking for a way to make some more extra money, but working where I wouldn't need a vehicle since my daughter takes mine to school. I started delivering newspapers in the morning. It's great exercise and an extra $30 a week. Doesn't sound like much, but it does add up and I'm putting it right on the mortgage.
I just think it's great that you're learning these life lessons so soon. You will be a better adult for it.......... believe me!05-29-2007, 10:40 AM #5
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I read your siggy on the Dave Ramsey since 2004. DH and I are ordering the program this Friday and going to start this weekend.
I have so many questions but I'm sure the program will answer ALL of them.
Great job!05-29-2007, 10:58 AM #6
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I agree, everyone feels that way. I wish I had been smart enough to realize what I know now when I was eighteen. You've got a great head start05-29-2007, 03:55 PM #7
The black hole...
I see you are in Portland, Oregon. You may want to apply to OHSU. Since they are union everyone makes more than minimum wage even the janitors, cashiers and housekeepers etc. You also get full benefits as well as some tuition reimbursement and they contribute 12% to your retirement, which is vested after 5 years. There is also a subsidised bus pass program that can really cut down transportation costs.
There are many people here who started out with the company at 18 and never left. They use the tuition reimbursement (available for PCC and PSU) and the in house career center to further their education and since the union requires qualified members be promoted before outside people can be hired it is not difficult to move up if you are willing to work hard and study a bit. I have a high school education and make over $18 an hour. While this still isn't a lot in Portland ( I take home about 2,000 a month after taxes and you know what rent etc. is like here) the other benefits add up as well. Of course it can take several weeks to go through the hiring process and like any large business there is red tape to untangle but you may want to check it out.
Many of the positions that require little experience are part time but as we are union if you obtain one of these positions then when a full time one opens up you will be given the oportunity to bid into based on senority before the job is posted to the public.
I wanted to post the url for you but I have not posted enough to be allowed to do so yet. Google "OHSU" and "jobs" and it will be the first site on the list.
Christine05-29-2007, 05:13 PM #8
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I was 16 and working at McDonald's. One day I looked around and saw all these people who worked there 39 hours a week (they would have had to pay health insurance if you worked 40 hours) week after week, year after year. I realized that if I didn't want that life, I'd have to take school seriously.
Now you know what a high school diploma and no specific training will get you - lots of minimum wage jobs. So, does this motivate you enough to improve your education - either by going to community college then maybe complete a 4 year degree or to find a type of job that you can be trained in that has a future?
You are 18 years old. Thus you have 49 more years til Social Security kicks in. You have plenty of time to train, to better yourself and not be stuck in a minimum wage jobs for the next 49 years. Think big picture. Take an aptitude test as your first step.05-29-2007, 05:22 PM #9
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The best thing you can do for yourself is find out who you are. Decide what you want to be. NOt what kind of job you want, but rather what you would want to do for the rest of you life and persue it. Dont wake up 20 yrs from now in a trailer park with 8 kids a crappy car and a welfair check. LOL
Honestly, now is the time to seek out oppertunities and take abvantage of them. Get an education and then worry about buying a nice car and haveing a home with 2.5 kids and a dog. My dh and I did things a little backwards and now he is trying to go to school and work full time with two small kids and a morgage payment. Its hard but something we had to do.05-29-2007, 05:57 PM #10
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I think if you read further on the board here, you will find all kinds of ways to quickly reduce expenses. Food is a big area and prime target to start with. It's easy to find money in that area. When I first started being frugal, I picked food to work on. Within a month I was saving $100. Now I spend less than half what I used to ($200-250cdn/mth as compared to over $600/mth).
Check out some old posts and pick one thing at a time to work on so you don't get overwhelmed.
Another area I like to work on is cutting back on utilities. Often it's a simple habit like turning off lights when you leave the room. But there are lots of other ways to save.
I too have daughters roughly your age...mine are 20 and 22. I think it's great you're on the ball enough to even be aware this is an issue and that there may be a way to solve it (otherwise why post here?)! Take a deep breath, and let it out slowly. You can do this! You have control of your life and your destiny!
Go for it!
$7,000/$20,000 - new-to-us car
$2400 - new laptops for both DH and myself
$800 - new bicycle for DH
$500 - a mobile phone of some sort for DH
Slush Fund - $4005-29-2007, 09:13 PM #11
I will put in my 2 cents worth...we have all been where you are. The important thing is not to get so overwhelmed you toss up your hands and blow your $$ shopping or on something else silly ( I have a closet full of clothes to show for my spending....and the c.c. bills!). You do need to treat yourself once in awhile. Even going out for McD or an ice cream every now and then can be something you look forward to. ....something budget friendly.
I know everyone says focus on one bill at a time, which is great advice. Keep in mind where you want to be 1, 2, or 5 years down the line, if that helps keep you motivated! And save what you can, even $5 a week in a "new car fund" eventually will add up to something. Alas, there is no quick fix....keep your chin up.05-29-2007, 09:47 PM #12
When I was your age, I waited tables. I averaged about $15 an hour. I could eat off the menu at half price.
The last time I worked two jobs, I had a banquet serving job that paid $17.50 an hour. They also had an employee meal with each shift.
Does the Chevy s10 run ok? Are you making payments?
Last edited by Jenna; 05-29-2007 at 09:49 PM.05-30-2007, 10:51 PM #13
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I unintentionally saw the end of his interview on 60 minutes in Nov 2004. From what I heard it sounded interesting. I wanted to know more so I googled him on the web and his site came up. I was able to find his books on ebay and I also got the CD version of TMMO for my hubby 'cause he's not a reader. I wanted him to hear it and for us to get on "the plan" asap after that. We started that Dec and we got $24,000 paid off in the 17th month of being on the plan.
We've also now saved up to pay cash (have $13,250 so far) for a car when my "fleece" comes due the end of Sept. That's something we'd NEVER had done before. I'm very excited to not have the "fleece". We've been "fleecing" cars since 1994. We used to own our own cars, but then got caught up in the trend.......... Now we don't want to be "normal"
I'm sure you'll enjoy the program and do try whenever you can to listen to him. He's online from 2-5pm weekdays ......... click into his site to get on. I find it helps keep me focused when we start feeling the "I wants" creeping up on us.
Good luck guys............05-31-2007, 12:13 AM #14
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Keep your chin up...it takes time to pay things off, but you'll do it... You can be proud that you're starting out so early. I wish I had started at 18... My Dh and I have been working on paying off debt for years now. If you think you're in deep - we started at over $70K - student loans, CC's, car loans, etc. We're down to the mid $30's now!! It feels GREAT to watch it go down...even though there's a ways yet to go.
Like the earlier posters have said... Give yourself little treats. Fill out stuff for freebies online...then they can be little "treats" that just show up in your mailbox (instead of just bills). At no charge to you! Find out something that you really like that doesn't cost too much...a certain candy bar, going to the park, renting a 99 cent movie, trips to the library... That way you have things to look forward to.
And...best of all...you've always got your "frugal family" here. I know I count on these folks to help keep me focused and havin' a positive attitude (when I reeeeeeeally just want to go blow $$ on something I know I don't need). hehehe05-31-2007, 12:32 AM #15
I'm close to your age now. 22. Believe me you'll get there. I'm still getting there lol At your age I didn't really have bills but I spent it alot on useless stuff. Stuff that held no value and that I don't have today. Having alot of open income makes it so much easier to spend. What kinda expenses do you have? Maybe if you listed them we could help you more. I still spend a bit today but I control it better now that I have more bills I'm more focused on saving. Also I spend stuff on things I'll keep forever like my collection of figurines of faeries etc. That stuff I could actually sell for double now on ebay so it's kind of like interest to me and I try to buy things that'll retain value more. Before I bought alot of clothes but now I'm smarter and buy more clearance, in a larger size, etc. Look more into sales for food and that will help too. Without meaning to this month, I haven't gone at all food shopping except for milk, bread, and staples and have been using just stock I had on hand already so that's saved some food money right there.
Like others suggested you DEFINITELY will want to go to college. If not now you'll see that view in hopefully not too many years. I'm finally going to college this year. Being in debt is better then working retail forever and you'll end up more on top that way. It is NEVER too late to go to college. Even if you waited say 4 years you'll still have at least a good 30 years left to work before SS and thats still better than 40 in macdonalds. You'll make up that money lost in debt.
I make around 10.30 now. Are there any places you can work that pay more? I'd definitely try finding other jobs as that is way too little. I've never made below 8 and I can understand that being a lot harder to live on. Here's a very vague outline of my monthly budget:
Savings-at least 300 monthly
Rest of the money is float money, fun money, etc. Some of my expenses of course will prob not pertain to you at all but just so you get an idea. It's very helpful writing everything down. When you write every single time you go out and buy something that's an eye opener to not spend so much.
I'm sure you can save enough for a car maybe in a year or 2. My first car was a real JUNKER. Horrible. After a year though I had enough to buy about an 9000 dollar used car but that car is reliable. No problems with it. No major fixings besides usual maintenance like oil change. My bf is having the same problem savings so I'm trying to help him now and so far he's saved 275 with an ingdirect account I helped him set up. You should definitely when you have enough money make a seperate account so it's harder to touch. My bf has been working a good 2 years with NOTHING saved and I've been trying to get through to him he needs to stop touching his money and using his atm otherwise he'll never save or accomplish anything. It helps to look at the larger picture as well on what you'd like to be and that can be motivating.
Another thing I suggest is building your credit. I had set my bf one cc account and he's now onto a second rewards card now that he has better credit. Let your credit card pay you with points and cash back. Always pay in full! And let them pay you. Its good to build credit for when you need a loan to get a lower interest rate
Last edited by paintedsky; 05-31-2007 at 12:36 AM.
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