• Date Started: Feb 13, 2006
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I am broke

9 Responses to “I am broke”

1. LuckyRobin Says:
   June 4th, 2007 at 05:25 am 1180934757
   1180934757
   Amber, if you are really worried, maybe you should save up enough for a car, buy it, then save up enough for a second car, and then start saving for a house. That way if the worst happens and you at some point need a car again, the money will be sitting there waiting. Now is the time to do it, before you purchase a house, not after and it will give you peace of mind.

2. reflectionite Says:
   June 4th, 2007 at 06:26 am 1180938366
   1180938366
   how long until you are finished your degree? once you finish that, will you get a higher rate of pay/salary? will you be looking for another job or will you get promoted? i think i rmember you saying you work part0-time at two jobs...? so when you finish your degree and you get a full-time job with a better salary,you will have a little more money to lean on which might make things a bit easier and will make these things you want, like a house and any emergencies that crop up, affordable.

3. monkeymama Says:
   June 4th, 2007 at 02:01 pm 1180965690
   1180965690
   I am with Robin. I have pretty much never in my life been able to afford a car payment. A car payment for the long haul for me would either mean financial ruin or huge life changes. It's something I never had in my budget, and paying $200/month for the last year about drove me crazy. On the other hand, tossing $50-$100/month on top of a high-interest e-fund will easily buy my next car in cash. I just throw that out because I have never spent a lot of money on cars. My last few cars were in the range of $1500 paid in cash and were great long-lasting cars. I am hoping to buy a new toyota in the $12k range in about 10-20 years with cash. Switching to a cash mentality and putting less priority on cars will save you SO much money in the long run. The only reason we got into this house was we didn't buy up our old cars when we graduated college. The money our friends were putting into cars went into a down payment on our home. It is expensive here and people have no idea how we bought a house so young - but a look in our driveway should explain it all. I figure we have saved on average $600/month not having 2 car payments between the 2 of us.
   
   I would also assume you would be making more/be in a better position once you are done with school? I am not sure if I was able to save a dime in school - really tight times. But the whole point was tog out and get a good paying job so I could spend and save more.

4. Amber Says:
   June 4th, 2007 at 04:39 pm 1180975184
   1180975184
   I have about a year and half of school left and I have a full time job as well as a part-time job. I will be definately looking for another job upon graduation (there is no room for growth where I work )
   
   Basically what I am trying to do is save for a house and a used car at the same time and maybe I should tackle one first before the other; but I figured since I was living at home and really do not pay rent or a car note it would be much easrier. All I need is about $3000 saved for a car, I am at the point in my life where a nice car is not my priority and I would rather pay cash

5. momandmurray Says:
   June 4th, 2007 at 07:52 pm 1180986735
   1180986735
   I am confused. You are working two jobs, and have no car or rent, etc........you are spending your money where?? Yes, I realize you are saving money, but where is the remaining money going?
   
   I am a big fan of cash for cars. Never had a car loan. We buy expensive vehicles as well as cheap ones. One of our daughters paid 2 thousand for a 1999 plymouth with only 32,000 miles on it. She has driven it for two years now and has only had to change the oil. She did also pay to have the brakes checked, but didn't need new ones yet.
   
   Unless you have a great interest account or a credit card with zero interest, you need to pay the cc off and not put money into savings. That is costing you money in interest you are paying on the cc.
   
   I would also take a few bucks and give mom and dad a nice card thanking them for letting you move back in!! I am sure you have told them, but a card is physical proof of your thanks.
   
   
   
   

6. JanH Says:
   June 4th, 2007 at 09:58 pm 1180994323
   1180994323
   I'm sure school is taking a bite out of your money! My DD is taking one class this summer session and it cost us 700 for tuition and books--for ONE class. Each year, it has gone up and up and up. Remind yourself that you are investing in your future and that when you don't have to pay for school anymore, your savings will be easier!

7. koppur Says:
   June 4th, 2007 at 10:40 pm 1180996825
   1180996825
   It is hard Sunshine. I barely made it rhough grad school living on my own. And basically, the only way I did was by taking out huge student loans and using that to live on. While it may never be easy, it does get easier. Hang in there!

8. Amber Says:
   June 4th, 2007 at 11:42 pm 1181000560
   1181000560
   Moma, that is correct I really do not have a car payment or rent. This is just a way for me I guess to have reality sink in again and save even more than I am. I have no cc debt until this month (dental work and tuition) but I pay the water, light, phone, cable, cell phone, dental insurance, tuition and books (which is expensive I refuse to take another loan)and internet service as well as buy my own groceries. The bulk of my money goes to my saving account for the house. I plan on not adding to my saving account the rest of the month in order to pay off the cc before the interet kicks in

9. campfrugal Says:
   June 5th, 2007 at 12:34 pm 1181046890
   1181046890
   You can watch this video Drive Free, Live Rich. It is pretty interesting.
   
   http://www.daveramsey.com/etc/lms/drive_free/
   
   You will need to copy and paste it into your web address area.

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