Reply to I am so over my head

Forum Index » Money and Finances

Reply to "I am so over my head"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]"I had $2,329 left over every month. Those were the ONLY two payments I had to make. I was still living at home and I was on a family share plan with my parents for my cellphone, paid no rent, paid no groceries, paid no utilities...so yes, I felt like I could afford it at the time."

I think you know this is not true.  There are expenses far outside the things you mentioned and they are big ones.  health, incidentals, gas, spending money, hair and personal upkeep, clothing, vacations, etc etc the list goes on.  
You know you arent guaranteed free rent/utilities/groceries forever in a job like this because things could end for any reason making it necessary for you to find a place to live and a new job just like you are now.  Savings burn out quickly as you have found out. You left a job with no job to go to? felt you would find work quickly and if not live on savings and still be ok. This is part of the 20 something syndrome honestly - you need to live more conservatively than this or you will always need to be rescued every few years.  This is just a fact. [/quote]

OP here: Actually, it is true. Up until I moved to VA for my nanny position..my parent's paid for EVERYTHING. Spending money? They gave it to me. Gas? They gave it to me. Hair or nails? They gave it to me. Clothes? Mom took me shopping.

I didn't expect to move to VA..it kind of came on quickly. I had planned on staying home for a while longer but my mom and I were NOT getting along at ALL and I took the first chance I had to get out.[/quote]

Here's the thing, OP:  You need to learn the basics of personal finance, and apply them consistently to your choices.  From what you have posted, it sounds as if you have not learned how to manage money, and your parents' generosity, while well-intentioned, has apparently fed your ignorance.

Here are some basic facts for you:

[list]Take-home pay of $2800 does not support a $20K car purchase on credit, even if you had kept the job you had at the time for the long haul.
The first items to budget for are housing, food, and healthcare.  Not cars, gyms and cell plans.
Committing to contracts for services (cell, gym) in the absence of reliable long-term income is a bad idea.
Cable TV is a luxury and not a necessity.
Eating out is a luxury.
Personal services such as eyebrow threading are luxuries not to be indulged in routinely in the absence of robust income.[/list]

You sound very upset and confused about your financial situation, and it appears that as time goes by the financial hole you are in is getting deeper and deeper.  Unless you cut expenses, raise income, or do  both, your hole will get deeper and your anxiety will rise.

At your age, I was on my own as well, with zero help from my parents.  DH likewise had and has no help from his parents. I am now a 50yo lawyer making a very healthy income - but this came about through financial discipline and hard work.  For decades I have foregone cable TV, smartphone plans, gym memberships and fancy cars in favor of financial security.  I bought my first car at 34yo, and it was a $15K purchase made in cash - and I'm still driving it.

The sensation of being financially secure is a beautiful thing, well worth the hard work it takes to achieve.  It is a tremendous sense of freedom and opens up all kinds of possibilities for life, if you do not owe lenders and do not worry about how to pay for things.

I strongly suggest that you find a personal finance course at a local adult ed center or community college, and set about learning how to set yourself up for the long haul vis-a-vis your money.  See also Suze Orman and Dave Ramsey.  Also read the getrichslowly blog.

Then apply what you have learned.  Stop saying "but."  Stop saying you need things that are wants or luxuries.

Really, it is SO worth it.

Good luck.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics