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OfflineRat-a-Tat
Psychedelic Student
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Registered: 07/11/17
Posts: 219
Last seen: 1 year, 2 months
Re: Help - I'm tired of being broke [Re: SynKyd]
    #26967107 - 10/03/20 07:48 AM (3 years, 3 months ago)

Quote:

SynKyd said:
In addition to all of the tough love and discipline on paying off shit and not overspending, just step back and figure out a way to have more money coming in. Side hustle, new job, bust your ass in learning a new skill, only you can answer that part of it. Realize your full potential in every aspect of your life and you will reach your goals, whatever they are. Obviously stay off the drugs. Just being on this site probably is risky for a recovering addict living with their parents, honestly.  I wish you the best and hope you figure it out! :hippie:




This is also very good advice


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Offlinelord_nikon6983
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Male

Registered: 08/10/20
Posts: 26
Loc: Da Burgh
Last seen: 1 year, 7 months
Re: Help - I'm tired of being broke [Re: Rat-a-Tat]
    #26972501 - 10/06/20 04:34 PM (3 years, 3 months ago)

Quote:



Bro - from your response, you completely missed the mark on the spirit of my response.  I'm going to lay down some tough love, because it's what you need.  Whether it's because you are entitled, laxidasical or just don't know any better: you don’t need to sell some stuff on ebay and pay 2 or 3 times the minimum payment on your credit cards.  You need to completely transform your life, mentality about money and get off the tit of your parents.  Your primary and only goal for the next year is to pay off all of your debt and stop receiving money from your parents…  I’m talking about cutting out all of the fat from your extra curricular spending, putting all of your extra income (after you pay your rent, bills & food for the month) to your debt, and getting this thing paid off in 6-12 months.  You have a wife and kids and you are still receiving money from your parents each month, and it sounds like you are completely fine with that.  You need to do a complete 180 man and get serious about this...




Let me preface here by saying I'm really not trying to be salty here at all. I just get desperate when I start thinking about this shit.

Sorry if my response didnt pass muster, I do appreciate everything you have said. I imagine I am somewhat entitled compared to some, but considering that more people in my generation get financial support from their parents than don't due to the stagnant wages and constant inflation of prices of pretty much everything else I doubt I'm that far from the norm. I'm not "completely fine" with taking money from my parents, but I also accept the reality that I have kids to take care of and my parents are happy to help in that regard. My daddy didnt buy me a porsche: he helped me get a 4wd toyota with room enough for my family so that I can be safe in the winter on the hill I live on.

I am fully aware I need to pay off my debt and I have no plans to spend money on any of the unnecessary shit I'm constantly bombarded with ads for. Right now my first step is to actually make my minimum payments on all of my loans and cards. After which I thought I would start that debt snowball by paying some multiple of the minimum on my lowest card until its paid off - is that not a good plan? What is the problem with trying to sell some of the various luxury items I have acquired to help pay off my debt?

I have worked out that after I pay all my bills (Rent/car/loan/insurance/cable/phone/ymca/groceries - not including ANY CC payments) I currently have $1200 a month to work with. If I make all my minimum payments that will probably bring me down to about $800-900. If I do 4x on my smallest card @ $200, Im down to $600. I have taken a look at my expenses. I cancelled my EA sub and my wifes playstation sub: that will save me a whopping $40 a month. Im really not sure where else I can tighten up..... I have been looking at cancelling comcast for a different provider: again whopping $40 a month in savings after $90 expense for install.

I have 2 kids. My wife and I both have various medical issues that are currently not costing us anything as our deductible was hit due to my sons birth but WILL be costing us quite a bit once the insurance year starts (I havent even included the other $15k or so we have racked up in medical bills, I cant start thinking about that until I get a plan going on the rest). I feel like its probably a good idea to have around $200 per 2 week paycheck in flex capital for unforeseen expenses as anyone with kids knows they always happen. SO now im down to $200 left over to pay off all my debt... What am I missing here? That will probably barely cover the intrest on my cards so that I can just stay in the same amount of debt.


If anyone has suggestions for a "side hustle" feel free. Im a database administrator who works from home. I cant do anything with a car because there is a mileage restriction on my lease and any money I make with my car will just go back to the dealership when the lease is up in overage charges. My wife and I run an Etsy shop already selling face masks. Although it was good in the beginning, we made some decent money for a while, she has gotten very burned out with it. I have been researching hiring artist on fivr to bring to life some of my ideas any try to sell merch, but most of that requires some up front money which I just DONT have right now.


--------------------
Not all those who wander are lost


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OfflineHikeadellic
Fungi Fan
Male


Registered: 08/31/20
Posts: 1,227
Loc: Appalachian Trail
Last seen: 11 hours, 13 minutes
Re: Help - I'm tired of being broke [Re: lord_nikon6983]
    #26972578 - 10/06/20 05:14 PM (3 years, 3 months ago)

Online vending is good as a hobby but its shouldn't be an income that you rely on. Especially if there's start up fees. You aren't in a position right now to hire someone to do the leg work that you should be doing. There's a side hustle out there for everyone and you just need to get creative with the skills that you have and work around your limitations. Its a good idea to cancel all of those BS subscriptions, maybe even cut the TV cord. If you cant keep yourself entertained with youtube and pirate sites and all the free stuff online, how much money would you want to spend to keep yourself entertained?

As for a side hustle, if you are on this website you probably have some cultivation experience. Is it possible for you to attempt to grow legal edible mushrooms? Those could catch you a fair price at a local grocer or farmers market. I don't know what your living situation is like but firewood and tree work is also not a bad hustle. You could also attempt flipping various items you find at garage/estate sales or goodwill. But keep in mind that this requires a small investment that may or may not see returns. If you work from your computer as a database admin, isnt there a website for freelance work in yours or a similar field? If no such website exists, get on developing it and ill wait for my 10% cut in the mail. KIDDING!


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OfflineRat-a-Tat
Psychedelic Student
Male User Gallery


Registered: 07/11/17
Posts: 219
Last seen: 1 year, 2 months
Re: Help - I'm tired of being broke [Re: lord_nikon6983] * 1
    #26973440 - 10/07/20 08:37 AM (3 years, 3 months ago)

Quote:

lord_nikon6983 said:

Let me preface here by saying I'm really not trying to be salty here at all. I just get desperate when I start thinking about this shit.

Sorry if my response didnt pass muster, I do appreciate everything you have said. I imagine I am somewhat entitled compared to some, but considering that more people in my generation get financial support from their parents than don't due to the stagnant wages and constant inflation of prices of pretty much everything else I doubt I'm that far from the norm. I'm not "completely fine" with taking money from my parents, but I also accept the reality that I have kids to take care of and my parents are happy to help in that regard. My daddy didnt buy me a porsche: he helped me get a 4wd toyota with room enough for my family so that I can be safe in the winter on the hill I live on.

I am fully aware I need to pay off my debt and I have no plans to spend money on any of the unnecessary shit I'm constantly bombarded with ads for. Right now my first step is to actually make my minimum payments on all of my loans and cards. After which I thought I would start that debt snowball by paying some multiple of the minimum on my lowest card until its paid off - is that not a good plan? What is the problem with trying to sell some of the various luxury items I have acquired to help pay off my debt?

I have worked out that after I pay all my bills (Rent/car/loan/insurance/cable/phone/ymca/groceries - not including ANY CC payments) I currently have $1200 a month to work with. If I make all my minimum payments that will probably bring me down to about $800-900. If I do 4x on my smallest card @ $200, Im down to $600. I have taken a look at my expenses. I cancelled my EA sub and my wifes playstation sub: that will save me a whopping $40 a month. Im really not sure where else I can tighten up..... I have been looking at cancelling comcast for a different provider: again whopping $40 a month in savings after $90 expense for install.

I have 2 kids. My wife and I both have various medical issues that are currently not costing us anything as our deductible was hit due to my sons birth but WILL be costing us quite a bit once the insurance year starts (I havent even included the other $15k or so we have racked up in medical bills, I cant start thinking about that until I get a plan going on the rest). I feel like its probably a good idea to have around $200 per 2 week paycheck in flex capital for unforeseen expenses as anyone with kids knows they always happen. SO now im down to $200 left over to pay off all my debt... What am I missing here? That will probably barely cover the intrest on my cards so that I can just stay in the same amount of debt.


If anyone has suggestions for a "side hustle" feel free. Im a database administrator who works from home. I cant do anything with a car because there is a mileage restriction on my lease and any money I make with my car will just go back to the dealership when the lease is up in overage charges. My wife and I run an Etsy shop already selling face masks. Although it was good in the beginning, we made some decent money for a while, she has gotten very burned out with it. I have been researching hiring artist on fivr to bring to life some of my ideas any try to sell merch, but most of that requires some up front money which I just DONT have right now.




1. I’m 33 years old, so considered a millennial, and to me, it doesn’t matter what other people in my generation are doing – you have to take personal responsibility for your own actions.  Comparing yourself to other people in our society / age bracket will be a losing endeavor, considering the low standard that is being exhibited these days.

2. You may not have had daddy by you a Porsche, but the lease payment on a 2019 Toyota Tundra ($400-$500 a month) is WAY out of your budget, considering you are in debt.  Even if you weren’t in debt, that kind of monthly payment is nutty on your take-home salary.  That extra $250 a month that you would save by driving a more economical car constitutes an extra $3k a year, which is 12% of your total overall debt ($10k credit card & $15k medical).

3. Ok you have made a start cutting out the fat, but I am talking about all the fat…  YMCA – out, do calisthenics at home.  Cable – out, read a book or watch YouTube Free Movies.  You have to be a demon for 12-18 months and get this shit cleared up.

According to what you have said, your budget should look something like this:

Income: 70k Gross, less 28% tax = 50k take home (yearly)
Monthly Take Home: $4,200

Expenses:
Rent & Car Payment: $1,200
Groceries: $800
CC & Loan Minimums: $450
Emergency Savings Account: $200
Insurance: $200
Utilities: $200
Cell phone: $100
Total: $3,150

Cash Left-Over to throw at debt: $1,050

You might say – wow, this is a barebones budget…  YES!  When you break it down like this, you see how dire your situation is.  If you are able to throw $1k at your debt each month, it will take you 2 years to pay off your debt.  This is not factoring for any unexpected expenditures that come up in life (and they always do).  That being said, you can’t fuck around with half ass fixes.  You have to lay out a budget, be diligent and then find other ways to supplement your income.  What happens if something happens to your parents, or what happens if you (god forbid) lose your job?  So many Americans were not prepared for what happened with the Corona Virus catastrophe and are really fucked now.  You say in the title that you are tired of being broke, well you have to come at this thing with everything you’ve got, because if you only attack this thing at 50% speed, you aren’t going to make it and you will get discouraged.  It is possible to tackle this – you need to get creative on the side hustle front and find anything.  Go out and be the hero for your family and get this under control before it gets any worse.  When you finally accomplish your goal – you will feel free, and nothing is better than freedom…


Edited by Rat-a-Tat (10/07/20 08:39 AM)


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Offlinelord_nikon6983
Seeker
Male

Registered: 08/10/20
Posts: 26
Loc: Da Burgh
Last seen: 1 year, 7 months
Re: Help - I'm tired of being broke [Re: Rat-a-Tat]
    #26984911 - 10/14/20 11:13 AM (3 years, 3 months ago)

Quote:

Rat-a-Tat said:
Quote:

lord_nikon6983 said:

Let me preface here by saying I'm really not trying to be salty here at all. I just get desperate when I start thinking about this shit.

Sorry if my response didnt pass muster, I do appreciate everything you have said. I imagine I am somewhat entitled compared to some, but considering that more people in my generation get financial support from their parents than don't due to the stagnant wages and constant inflation of prices of pretty much everything else I doubt I'm that far from the norm. I'm not "completely fine" with taking money from my parents, but I also accept the reality that I have kids to take care of and my parents are happy to help in that regard. My daddy didnt buy me a porsche: he helped me get a 4wd toyota with room enough for my family so that I can be safe in the winter on the hill I live on.

I am fully aware I need to pay off my debt and I have no plans to spend money on any of the unnecessary shit I'm constantly bombarded with ads for. Right now my first step is to actually make my minimum payments on all of my loans and cards. After which I thought I would start that debt snowball by paying some multiple of the minimum on my lowest card until its paid off - is that not a good plan? What is the problem with trying to sell some of the various luxury items I have acquired to help pay off my debt?

I have worked out that after I pay all my bills (Rent/car/loan/insurance/cable/phone/ymca/groceries - not including ANY CC payments) I currently have $1200 a month to work with. If I make all my minimum payments that will probably bring me down to about $800-900. If I do 4x on my smallest card @ $200, Im down to $600. I have taken a look at my expenses. I cancelled my EA sub and my wifes playstation sub: that will save me a whopping $40 a month. Im really not sure where else I can tighten up..... I have been looking at cancelling comcast for a different provider: again whopping $40 a month in savings after $90 expense for install.

I have 2 kids. My wife and I both have various medical issues that are currently not costing us anything as our deductible was hit due to my sons birth but WILL be costing us quite a bit once the insurance year starts (I havent even included the other $15k or so we have racked up in medical bills, I cant start thinking about that until I get a plan going on the rest). I feel like its probably a good idea to have around $200 per 2 week paycheck in flex capital for unforeseen expenses as anyone with kids knows they always happen. SO now im down to $200 left over to pay off all my debt... What am I missing here? That will probably barely cover the intrest on my cards so that I can just stay in the same amount of debt.


If anyone has suggestions for a "side hustle" feel free. Im a database administrator who works from home. I cant do anything with a car because there is a mileage restriction on my lease and any money I make with my car will just go back to the dealership when the lease is up in overage charges. My wife and I run an Etsy shop already selling face masks. Although it was good in the beginning, we made some decent money for a while, she has gotten very burned out with it. I have been researching hiring artist on fivr to bring to life some of my ideas any try to sell merch, but most of that requires some up front money which I just DONT have right now.




1. I’m 33 years old, so considered a millennial, and to me, it doesn’t matter what other people in my generation are doing – you have to take personal responsibility for your own actions.  Comparing yourself to other people in our society / age bracket will be a losing endeavor, considering the low standard that is being exhibited these days.

2. You may not have had daddy by you a Porsche, but the lease payment on a 2019 Toyota Tundra ($400-$500 a month) is WAY out of your budget, considering you are in debt.  Even if you weren’t in debt, that kind of monthly payment is nutty on your take-home salary.  That extra $250 a month that you would save by driving a more economical car constitutes an extra $3k a year, which is 12% of your total overall debt ($10k credit card & $15k medical).

3. Ok you have made a start cutting out the fat, but I am talking about all the fat…  YMCA – out, do calisthenics at home.  Cable – out, read a book or watch YouTube Free Movies.  You have to be a demon for 12-18 months and get this shit cleared up.

According to what you have said, your budget should look something like this:

Income: 70k Gross, less 28% tax = 50k take home (yearly)
Monthly Take Home: $4,200

Expenses:
Rent & Car Payment: $1,200
Groceries: $800
CC & Loan Minimums: $450
Emergency Savings Account: $200
Insurance: $200
Utilities: $200
Cell phone: $100
Total: $3,150

Cash Left-Over to throw at debt: $1,050

You might say – wow, this is a barebones budget…  YES!  When you break it down like this, you see how dire your situation is.  If you are able to throw $1k at your debt each month, it will take you 2 years to pay off your debt.  This is not factoring for any unexpected expenditures that come up in life (and they always do).  That being said, you can’t fuck around with half ass fixes.  You have to lay out a budget, be diligent and then find other ways to supplement your income.  What happens if something happens to your parents, or what happens if you (god forbid) lose your job?  So many Americans were not prepared for what happened with the Corona Virus catastrophe and are really fucked now.  You say in the title that you are tired of being broke, well you have to come at this thing with everything you’ve got, because if you only attack this thing at 50% speed, you aren’t going to make it and you will get discouraged.  It is possible to tackle this – you need to get creative on the side hustle front and find anything.  Go out and be the hero for your family and get this under control before it gets any worse.  When you finally accomplish your goal – you will feel free, and nothing is better than freedom…




I am also 33, funny coincidence. I feel like its kind of pointless to go back and forth about taking money from my parents. I understand why it bothers people, I have a few friends who received $500k or more in trust funds after graduating HS and it always pisses me off how carefree they are while they sit back and play with stocks like little bond villains. I do appreciate your help and I DO want to be completely self sufficient. My Dad was diagnosed with prostate cancer about a year ago. His prognosis is very good and he is currently in remission, but it was a wakeup call that he will not be around forever to bail me out of my fuck ups.


My Monthly take home is $3600, I imagine the deduction for family insurance plan is what makes the difference there. I also always put myself one tax bracket higher(lower?) so that I get a nice tax refund. Its a good way to save money without thinking about it. With the new kid, I think I should be getting back around $5-6k judging by last year. I plan on using 60% of that to put a big dent in my debt, the other 40% to cover the insane cost of our prescriptions until we hit our deductible.

$450 will not cover my minimums. I have a $5k personal loan that has a $320 monthly payment. Then I also have a $3500 limit card (no idea why they gave me such a high limit with my credit) that is almost maxed out and the minimum on that is about $220 if I remember right. Then I have 4 small cards between 4-$600 that all have about $25 minimum.

YMCA is required for child care purposes: we get an 70% discount on our membership and any child care and classes as I have family that work there. I rarely actually work out at the gym, but we take my kid to various lessons and the pool etc.. as well as day care. It is a GODSEND. By FAR and away the cheapest way to get some time free of kids. Its only like $30 a month or our whole family.

I don't have cable TV. That is comcast cable internet. the best internet possible is a must for my job as I work from home and if I don't have internet I will lose my job. As I said there is a new fiber provider in our area and im looking at switching as it would save me 30-40$ a month, but there is an upfront $90 setup fee and it would also require paying off the $60 or so I carry with comcast as I'm always a bit behind on that payment. We do have CBS all access service, $20 a month which I can cancel. We use my parents FIOS passwords (as well as netflix, hulu and amazon) to watch TV through our Roku so we basically get TV for free.


I currently doing research on starting a microgreens business. Its not the best time to do so with all the restaurants shutting down or running on half scale, but its low overhead as I already have a bunch of grow equipment. All I would need is some trays and seeds. I have a bit of experience with hydroponics and that is something I can spend an hour or two a day doing while still doing my normal job. Also looking in to clutivating portabellas, morels and/or shiitake. For some reason I havent seen spores for bellas on the usual sites I frequent. Anyone know where i can get some?


--------------------
Not all those who wander are lost


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Shop: North Spore Cultivation Supplies   Unfolding Nature Unfolding Nature: Being in the Implicate Order   Kraken Kratom Red Vein Kratom   Left Coast Kratom Buy Kratom Extract   Original Sensible Seeds Autoflowering Cannabis Seeds   Mushroom-Hut Liquid Cultures   Bridgetown Botanicals Bridgetown Botanicals


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