I am in a financial rut. How do I pull myself out? (national, best)

[Wile E. Coyote]

Originally Posted by Parnassia

Agree that pursuing a medical technician certification instead of a nursing degree might be more productive sooner. Plus, achieving something lucrative would be a huge boost to your confidence. Something that would probably benefit you in other ways too. Once you get your financial feet on the ground nothing would prevent you from getting a nursing degree in future.

Also, is it quicker to just finish that Biology degree? Then, you have a four-year degree and have finished something.

I think nursing school is extremely competitive from what I hear so I agree with people telling you to get a certification. But, the four-year degree will help you over the long run as you go forward in your career.

I would stay living at home until you get the education nailed down.

You have an income problem more than an expense problem. But, ordering all your meals from door dash seems like a big part of the problem. There are certain high value foods that are the most affordable. I think of things like Eggs, peanut butter, certain vegetables, beans, fruit, cottage cheese, etc. Teach yourself to make a mean pot of chili and another good hearty soup. You should be able to cook a hamburger patty, make a sandwich, fry up a steak, bake a pork chop, etc., etc. The time consuming part of cooking is cleaning up afterwards. There's healthy things that do not require cooking and when I bake a piece of meat I will put double foil and make it into a foil tent (no scrubbing pans and it makes the meat tender and juicy).

Part of the problem is inflation. You have a heck of a deal with your parents. You really need to hunker down and get the spending under control and then implement a new strategy. People that save a lot of money usually go to great lengths to accomplish that (especially when they are young).

Are there other benefits to the restaurant job? Because I think you should be able to upgrade that job to something that pays more. Or, can you get into a slot where you are also earning tips? Can you learn coding so you can earn more while you complete your education?

[otterhere]

I'd say habitually using Door Dash is definitely "an expense problem."

[gentlearts]

If you work 37.5 hours a week, you have time to get another pt job. My granddaughter is your age and works 4x12 hour shifts a week. She has a nanny job 2 days a week that pays $400.

[City Guy997S]

168 hours in the week, you work 37.5.........try to find another 12-15 hour job.

You work at a restaurant, eat there for free or significantly reduced price (vs. door dash).

Finish your 4 yr degree before you start with a nursing program. How much are the student loans? Making $1 payments is going to spool up the interest and you will be one of those cases that owes $150,000 when your 50 but you only borrowed 20K.

[markg91359]

Originally Posted by DCT2019

I spent 3 years in University studying for a Biology Degree. I did not finish that degree. I did a year at my local community college and received an Associate of Arts Degree. I'm back in school now and I'm still working full-time. I'm at the local community college. I'm trying to get into Nursing school. In the restaurant, I am basically a floater. I help out everywhere. I assist with prep, serving, dishes and cleaning, inventory, picking up orders, and other miscellaneous tasks. I live in Detroit, MI.

You should make completing your nursing degree an absolute priority. Stay up nights if you have too, but get it done.

You will be broke until you have a real job and frankly anything that pays under $20 an hour is not a real job in today's economy. There is a slim profit margin in the restaurant/food industry and it does not lend itself to good wages. Even tips are only going to get you so far. You need a better job to pull yourself out of this rut and the nursing degree is your best step forward.

[Listener2307]

Originally Posted by DCT2019

I am 26 years old. I am in a financial rut. I have no money in my savings. I'm continuously dipping into my savings. My checking account is in the negative. I have a credit limit of $3,100. I am over my credit limit by 10 bucks.

I work in a restaurant. I work 37.5 hours per week. My salary is $16.85 per hour.

I take an Uber/Lyft to get to work and home 5 days a week. It costs me anywhere from $10.00-$12.00 for an Uber/Lyft.

I live with my parents. My mother is charging me $300.00 a month towards Rent. I pay $120.00 a month for utilities. I pay $40.00 a month towards my cell phone.

With food I Doordash quite often. I haven't really kept track of my Doordash expenses.

I've been dealing with some medical issues for the past few years and I've spent a lot of money on Doctor bills.

I also have my student loans going into repayment next month. I have $15,000 in total. I signed up for the repayment plan where it charges me based off my income. I only have to pay a minimum of $1.00 per month.

My mom just gave me her old car. She got two new tires for the front. It still needs a slight wheel alignment.

I also have to still be added to my parent's Car Insurance policy as a driver.

All in all I am asking you guys for advice on how I can get out of my financial rut?

You need a profession.

[Threestep2]

Considering OP's other threads - who sees a desire to change the current situation?

[jmellc]

Originally Posted by DCT2019

I spent 3 years in University studying for a Biology Degree. I did not finish that degree. I did a year at my local community college and received an Associate of Arts Degree. I'm back in school now and I'm still working full-time. I'm at the local community college. I'm trying to get into Nursing school. In the restaurant, I am basically a floater. I help out everywhere. I assist with prep, serving, dishes and cleaning, inventory, picking up orders, and other miscellaneous tasks. I live in Detroit, MI.

Food service tends to be very low paying in my experience. I delivered pizzas for a time and spent everything I made keeping up my car. Very hard on a car.

I worked a few months in a full service restaurant. I did make fair in tips when I was a server. Others didn't get tips and the owner cheated most everyone out of wages. If you MUST work food service, see if you can be a full time server and get the tips. Downside is your hourly pay will be less in many states. But a good server can still come out ahead as I recall. Maybe some restaurant suppliers are hiring drivers or warehouse people? Might be a bit higher paying and 40 hours a week? Restaurant experience should help there. Ask people who deliver to you if they are hiring.

With your bit of education, maybe you could get a job in a medical lab of some sort? That would be in a related field to nursing and be the start of a better resume. Meanwhile, do all you can to help out at home. Your family is good to you to keep sheltering you. Keep up the yard, wash the cars, help out in various ways.

Time will pass quickly and there is much less margin for error than there used to be. Network with others in your same boat and/or those who managed getting into a better situation. Don't be complacent. Get things in order and move ahead.

[jetgraphics]

The major expenses are : shelter, food, clothing, transportation... and their maintenance and upkeep.

Off hand, you'd best learn to cook ASAP, and cut down on prepared foods.
Alton Brown's "Good Eats" show is a great source - and very entertaining.
https://www.imdb.com/title/tt0344651/
. . .
I presume you have access to the kitchen and so forth, so you don't need to acquire pots and pans.
On the other hand, if you need to stock up on basic tools, etc, avoid cheap crap, like non-stick pans, and gizmos.
. . .
An "Instant Pot" electric pressure cooker + a set of stainless steel cookware will cover 90% of your needs.
A cast iron skillet handles the rest.
. . .
The "secret" of cooking is the balance of basic flavors : salty, sweet, sour, and bitter . . . (and umami, if you count monosodium glutamate).
The four food groups : salt, fat, sugar (& starches), and sour (vinegar) are the basis of most condiments and junk food.
Consider how nasty it would be to sit down and eat a stick of butter. Ditto, for a cup of powdered sugar. But once you combine butter and powdered sugar into icing, you can eat it with gusto. Combinations are essential in our favorite foods. . . and fooling our brain.

Potato chips : potatoes (starch), grease, and salt (plus vinegar, too)
Ice cream : milk fat, sugar, salt (and flavoring)
Deep fried foods : grease + salt are essential
Condiments are often based on sugar, vinegar, salt, and oil - mustard, ketchup, mayonnaise
Salad dressings - oil & vinegar & spices
Pickled foods - salt fermented cucumbers (pickles), sauerkraut (pickled cabbage), etc.

. . .
Cooking is both simple - and - complex, depending.
You can slow cook meat - or you can brown or sear meat - creating flavor via the maillard reaction.
Take it one step at a time.
Discover what you like to cook and eat.

[skeddy]

get 2 full time jobs. Plenty of free time with nothing to show for it.