American. 30 years old. Had poor, uneducated parents. Never learned

>>18173881
Simple stuff first
>Check with local credit unions to refinance the vehicle for lower payments. If that doesn't work, try lendingtree
>Switch to a cheaper phone + internet service.
>Talk to your bank about one of those 'automatic savings' plans where when you use a debit card it rounds up and the difference is placed in savings
And the secret
>Make more money
Angle for a raise or promotion, take a second job, whatever. Once you have more money coming in apply it towards the credit card first, then the car, then all in savings until you have about $20k is savings.

>>18173881
Try to find a cheaper place to live, maybe a solution with roommates. Spending $800 on housing seems a lot to me (but I live in a very cheap area, so I don't know).
Same for the internet plan, $200 is a lot.

Where else do you spend money?
Even after spending those $1000 (which probably you can cut by a fair amount), you still have $1500.
Where does it go?

You can save money on food by learning how to meal plan with cheap products - I went from spending €70/week to spending like €45/week just paying attention to that.

Separate out your priority debts - things you cannot ignore otherwise you will lose an important service.

Sit down and make an honest list of your income and your outgoings, starting with important debts and costs, leaving off all your luxuries. I'm taking about your minimum payments to each.

Once you have done this, you will be left with a figure. It might be really low, but you know that at least this is covering your living costs.

Secondly, list out all of your debts. Your credit card is obviously a big one, as is your car. Is there any option to sell the car and purchase a cheaper one? If not, you need to factor this into your monthly spend too because I assume you need it for work.

If you're really struggling to pay your credit card, give the company a call and say you're experiencing temporary financial pressure due to a change in income. Explain that you cannot afford to make the minimum payments and would like then to freeze any interest for a short period to allow you to work with debt advisers. Due to responsible lending rules, they will more than likely to do and it will give you some breathing space.

In the meantime, cut up your credit card and start living within your means. With every extra penny you find you have, put it towards one aspect of your debt in priority order.

There are other ways to save money, such as bulk buying and cooking your food, not getting take out, walking where you can and changing your energy supplier/credit card when you can.

You have to be methodical anon. Don't fall into the habit of paying whoever comes knocking first. Read about priority debts.

How the fuck does anyone pay 200 a month for phone and internet?

>>18173906
I get high-speed wi-fi at home + sim with unlimited data and unlimited phone calls for 45€/month.
200$ seems SO much to me.

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>>18173906
>>18173914
I suppose I am stupid or there are not many options here. I also travel hundreds of miles all over the East Coast of the US a day. I am a PI and am literally in a different place each day, many times in the middle of nowhere (like right now) and need reliable service and unlimited data.

I have a 2 year degree in graphic design and am thinking about starting to work on a portfolio and try to start a small, GD business on the side of my full time job.

The big issue is that I have to make several flights this year, Colorado, Florida and Scotland. Trying to pay off debt and save for MY wedding next year sucks. Luckily I saved up the 2k for my engagement ring, no debts there. But now I'm fucked.

>>18173939
Do you live with your fiancé? Do you split the costs? You should do that. That alone would save you a lot of money.

>>18173947
Yes, that is us already splitting the costs. Not internet/phone. but we have a house and the rent is split. My half is over 400 and 200 utilities. (average)

I think I am going to literally have to just buy Peanut Butter and Jelly sandwhich shit and buy nothing else for the next ten years.

>>18173952
Can you move to somewhere a bit less expensive? A smaller house, or a place a bit further from the city. You already have to drive a lot for work, so commute shouldn't be an issue for you. Maybe your girlfriend would be understanding since it means you're saving for your wedding.

You don't need to eat like shit to save. I don't spend much for food and I eat basically just organic, local, healthy stuff - in a year I saved enough to travel for 2 months around Europe. Just pick things carefully - buy basic things in bulks, do everything from scratch, don't eat out, buy veggies in the right season and freeze them if necessary. It's super easy to save, really.

>>18173964
Thanks bro. I really feel like such a stupid faggot. I'm so bad with finances, and it's all catching up with me. I hope I can set things straight.

what kind of car do you drive?
how big is your flat?
how crafty are you?
do you work anything on the side? make some free craigslist advertising.
> I need reliable service
implying you could not find a free wifi in every town you work.
people get by with 40 Bucks fast internet and mobile internet, there is no way there is nothing cheaper for you.

With that amount of rent, how much would it cost to buy a flat in your area?

Also 2k for a ring is fucking much, is your GF such a consumer bitch?

>>18173939

Okay well I guess just ignore the one good post then.

This fucking board man.

Stop living the life of a baller when you're earning fuck all. If you want that kind of lifestyle (an average one) then get a better job and stop living on credit.

I can't believe you're spending 2k on an engagement ring when you can barely manage your living expenses. Although I guess at least when she takes you for everything, you'll have nothing worth losing.

There are a few things you should do and a few you should not. First the things you should do:
1. Always pay enough on the credit card to actually decrease the principal. On $6000 if you have a moderate (for a credit card) interest rate of 8% annually, you should be paying about $40 a month in interest, another few bucks in fees. It may be more than this tho. Depending on how greedy your cc company is you many be paying a lot more, but no more than $110 a month in interest should even be legal. What is the minimum payment on that card with that balance? Whatever it is, pay $125 over that and in four years that debt will be gone. Pay more if you can, because that loan, and yes, a cc that is not payed in full every month, is just like taking out a loan, is really expensive. Do not use that card again before the balance is paid in full. After you pay it in full, do not charge anything you will not be able to pay off immediately.
2. Emergency fund. Open a savings account. Put $50 in that account each month. This is your disaster fund. You pay for a broken transmission or arm with this. It is like self insurance.
But how do I fund these things? Cut spending for a few months on unneeded items. That means no starbucks. Also talk less on the phone. No budget is ever as tight as one thinks it is. To prove this start tracking your spending today. Each time money leaves your hands write down the amount and what you bought. Add up in the end of each day/week/month and you will see where it goes and how much it all costs.
Things not to do:
Your rent is not that bad. Moving costs a lot of money. If you have money to spare for a move, put half of that in your emergency fund and half towards your cc debt.
Your car. You did purchase it new right? That can be a good financial move. If you can trade it in for a cheaper one and would actually drive that, then do so. Do not buy a cheaper car if you will regret it in a few years, then you are better off keeping the current one.

>>18173881

how much do you spend on your vehicle per month?

like whats your monthly payment + gas + insurance?

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>>18173881

>my parents were uneducated its their fault i never learned budgeting

not its not, their parnets were uneducated too, its your grandparents fault you dont know budgeting!

point im trying to make there is to not blame your parents for stupid shit thats your responsibility.

budgeting is literally just adding up your monthly expenses and subtracting them from how much you make.

pic related is your budgeting with assumptions made on food and fun (based on my own) and without your vehicle debt because you never really broke that down into a monthly bill.

according to my math you still have 600 bucks left a month to go straight to vehicle payments / savings, however it probably doesn't include other expenses you forgot like insurance.

>>18173881
Everything will be OK in the end. Your credit may be hurt, but itll all be OK.

Find a partner that is responsible. Keep your finances separate until you get your stuff taken care of.

Do some schemin on things you can do on the side to make some more money.

Pick up more skills, if you can study a subject at least 2 hours a day, youll be hireable for an entry level position in a year.

Join the trades! Plumbers and electricians make 35 an hour

https://www.youtube.com/watch?v=lV5Sshsrkko

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>>18173881
Follow this chart OP. Print it and put it somewhere where you'll see it everyday.

>>18173881
You're spending about 1/4 of your income on housing, which is actually a real bargain these days - in some big cities it's 1/2.

Stop using your credit card instantly and devote every free penny to paying down that high-interest debt as quickly as possible.

Look into cheaper phone/internet deals and lower interest car loan.

Create a budget for every paycheck. Work out how much you have to put aside for rent, food, car, credit card, etc, and put that money aside immediately, before spending a penny.

Add "savings" to that essentials list. Open a bank account and pay it as if it was a bill. Start with 10% and raise it if you can.

Only after all those things - including your savings account - have been paid can you think about spending what is called your "discretionary" income - the things you don't absolutely NEED to pay (clothes, entertainment, etc). Budget them so you stay within the amount left until the next paycheck.

Cut off your internet service. I did that and lived off my phone internet for like two years. If i needed to use a real computer for something important i used my phone as a hotspot or went somewhere with free wifi.