I am in a financial rut. How do I pull myself out? (prices, old)
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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?
First of all - Did you finish college? Do you have a degree? What type of work are you doing in a restaurant? Where do you live? Tell me that and I will give you some advice.
First of all - Did you finish college? Do you have a degree? What type of work are you doing in a restaurant? Where do you live? Tell me that and I will give you some advice.
I agree, tho he was pretty thorough
Learn to cook instead of getting Door Dash just one thing.
In your city, #2, find a Health Center for 'people with little money'. These savings add up!
The fact you don't know how much you spend on Door Dash ..tells me you don't wanna know! Lol.
No solution, but just ideas that were obvious.
First of all - Did you finish college? Do you have a degree? What type of work are you doing in a restaurant? Where do you live? Tell me that and I will give you some advice.
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.
It sounds to me like you have no idea where your money is going, so I would start with that. On paper or in an Excel spreadsheet, write down every penny you spend, and on what you spend it, every day. Be diligent about this for a month. At the end of the month, organize the expenses into categories (e.g., Door Dash, groceries, gas, rent, etc.) and add up the amounts you spend in each category. This will give you a clear idea of areas you can cut back on your spending.
Now that you have a car, will you be able to drive to work and not need Uber/Lyft?
As another poster suggested, learn to prepare your own meals and lose the frequent Door Dash expenses.
Do you share in the tips at the restaurant, in addition to your hourly pay? Do you get any free meals at the restaurant, or at least discounted prices?
It sounds like if you apply some discipline to your spending, you should be able to do ok through nursing school. Start with tracking expenses.
Location: Formerly Pleasanton Ca, now in Marietta Ga
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If you can do the nursing program and become an rn you are golden.
I’d definitely stop the door dash costs.
Otherwise I’d look into a tech field. I have a lot of friends doing very well there.
With an Associates degree apply for the Detroit PD. That might be a good start towards a career.
.....If you don't mind being shot at.
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