I'm $82,000 in school debt.
I have a job only pays 40,000. Sounds okay, but with $800 rent and utilities, cable, car payment, insurance, phone, food etc, it's not enough to pay my loan. I feel like I'm in a hole and there's no way out.
What should I do?
>>car payment, insurance
Dump the car. It is astonishing how much money you save without one. Lost mine thanks to the recession and currently use public transit to get to work and holy fuck am I catching up fast on my old bills. $70 a month for a bus pass instead of $250+ depending on how much driving I did and what decided to break that month.
I miss the shit out of driving but I don't miss being in the black at the end of the month.
>but I don't miss being in the black at the end of the month
I meant 'in the red'. I can't into typing right now.
>tfw have a 2011 car
>still have problems with it
>water pump has broken 3 times
>got in a really minor fender bender a few weeks ago
>was going to wait till the parts came in to get it fixed at the body shop
>a sensor must have gotten knocked loose because suddenly traction control gets stuck and I can't drive faster than 5 mph
I really want to just sell my car and move to Portland and get a bike and be extremely obnoxious about it
Yep, the day the wreckers towed the car away I both wanted to an hero and it felt like a huge weight had been lifted off me. It was fast, reliable and a looker but gas and insurance were kicking my wallet's ass.
mind if I do an unrelated car greentext
>was driving to work yesterday
>make a right on red where I couldn't see the street around the corner because of a building in the way
>as soon as I turn there's a car coming at me in my lane just a few feet away
>slam the brakes and he swerves out of the way
>apparently there was a truck stopped in his lane so he went into oncoming traffic to go around it
part of me almost wishes I hadn't been able to prevent the accident since that asshole was 100% at fault but then I wouldn't have a car and wouldn't be able to get to work or maybe even been injured. Was seriously scary though.
But hey, I work as an EMT so seeing shit like that just lets me know I'll always have job security.
>>Where I live, there's no one to help drive me places and busses are largely inconvenient
Buses are absolutely inconvenient. They're also cheap as fuck. It would take me a hair over ten minutes to drive myself to work. I have to spend 30 minutes total on two buses to get there. It sucks standing out in the cold waiting at the stops. It sucks just sitting there waiting to get to my destinations. But it's fucking cheap.
>>I work as an EMT so seeing shit like that just lets me know I'll always have job security.
As long as there are old people and stairs in this world you will have job security. We don't need the asshole drivers to keep you fed.
That is a lot of fucking school debt to make $40k. My sister has less than that with a graduate degree in Psychology.
Whatever field you are in, I hope that shit salary is just a hazing ritual before you make the big bucks.
>~$3333 a month before taxes
>Assume 25% tax rate
>$1700 after rent
That leaves you with $1335 EVERY MONTH to pay your loan.
Most people pay $200-300 a month towards their loan. They typically take 20-30 years, sure, but it becomes part of the budget.
You split half your monthly money after everything, that's just under $700. You can have this paid off in 15 years, assuming you never ever get a pay raise.
If any of your expenses are higher than what is listed above, readjust your lifestyle. Learn to cook. Drop your cellular plan down. Use less fuckin electricity. Get a car that isnt so costly.
Definitely cut the cable. Put all of your electronics on a surge protector and shut if off at night/when you work. Cut out shit like coffee from a coffee shop, just make it yourself. Learn to make meals out of beans and rice, buy bulk bags at places like costco or sams club. Talk to your provider about getting a cheaper plan, and keep searching for a cheaper place.