How to deal with financial difficulties?

Question

My boyfriend and I just moved in together, it was a rough ride from the beginning, we were both kind of unprepared for such demanding bills. Shortly after moving in a month and a half ago, I just bought a new car (well used, but new to me), I am able to afford my bills, but there are things I have to do to the new car and things that I need to get caught up on in order to not fall to far behind. However the situation is that he also just lost his job 2 weeks ago, I talked to him about it last night, and explained that he really needs to look for a job, because between, my part of the rent, my new car, the new furniture I am financing, and everything else, I don't make enough to even come close to swinging all of the bills. What is a good way to get caught up on my stuff, also what are some good ways to save money, and are there any easy ways to try to make money other then finding a full time second job? Thanks!!

Answer 1

I work full time and make good money, but I always like more. I belong to a bulletin board of bargain hunting moms. We have all discovered that there is a lot of money to be made on the internet. There are a lot of web sites that will pay you to complete short surveys and basically give their advertisers your email address. It is pretty good money for little effort. I make about $100 a month off of this website just by piddling and spending a few hours a month. http://www.instantprofitz.com/?ref=sasha.

There are a lot of others like it so the money can really add up. These are totally legit sites and if you do the trial offers where you sign up for the trial and cancel before you get charged, you can make so much more money. I don't really do those because I don't have enough time with a three year old to be organized to remember to cancel, but a lot of the mommies from my board do those and make over a $1000 a month.

I can give you information on the bulletin board and other paid sites if you want.

Answer 2

The good thing about your situation is were able to talk to your boyfriend about finding a job. Depending on how receptive he was about the discussion, will determine if he truly want to help you.
If his response was positive and he truly wants to help you, he will find a job within the next 30 days, even if it means working at MacDonalds. If his response was negative then you need to get rid of him. As the saying goes "you can do bad by yourself."
Here are a few thing you can do to get caught up on your finances to decrease any unnecessary spending such as going out to dinner, movies, etc., spending money for meals, snacks, etc. at work, make do with the clothes, shoes, etc., that you alread have.
Check into consolidating your car and furniture loans. If you can Consolidate these 2 loans, you will only make on monthly payment to the lender providing your existing income will allow you to do this. But, honestly, you should get a second part time job to get caught up and if you boyfriend isn't employeed within the next 30 to 45 days, you should have him move out and don't let him move back in when your financial situation improves. If your car does not need major repairs, only do the minimum repairs such as oil changes, tune-ups. A good mechanic will tell you what is major and what is minor to keep your car in good condition. If the boyfriend is sincere and cares a great about the relationship, he will do what is necessary to seek employment to help.

Answer 3

Well, is it possible to go without a car? You are still looking at about 65 dollars a month for an unlimited bus pass - and public transportation is better for the envireonment (I traded in my car for a bus pass).

What about the new furniture? Do you need all of it, can you take some back and reduce your payment there?

Will your bank allow you to consolidate your debt? Then you would have one payment with less interest.

What is/are your "latte factor/s"? (Those things that seem little but add up to hundreds of dollars every year like takeout coffees, movie rentals, and lunches.) Brown bag your lunch, make coffee at home (or bring tea bags and a thermos of hot water), and limit entertainment to 10 bucks a month or less.

Tell your boyfriend to take anything he can get right now because he can always quit when he finds something in his field. Every penny he brings in will help. Or, can he get student loans and go to school? When my husband was in college we lived pretty comfortably on student loans. I mean, it wasn't luxurious and once in awhile our rent was a couple weeks late but we never starved.

Sit down and make a list of ALL your expenses and figure out what you can live without. Things like television, cell phones, and other things that aren't necessities can all be cancelled.

Realize that financial stress has now been linked as a direct cause of mental illness, and is one of the top stressors in a relationship. Plan for some strain and drain in your love life, but try to look forward together to a time when things won't be so tight. And good luck!

Answer 4

you cant live over your head 1 +1 will never equal 50--if u have to sale the car-it will probally be a money drain -ride the bus,ride a bike u save the car stuff and gym fees -i dont know what to say about the boyfriend -it might be real love-and even if it is very real you WILL have trouble you WILL be tested you WILL feel more like battle tested comrades ,than young kissey face lovers in the end , and even if the finances dont get you theres always children to look 4 ward 2 -but troubles will always be with you --my best advice is make it as easy on ur self as u can and face them with knowledge on ur side and prepare as best u can-always live like u make 20% less than u do -even if its poverty level cause 10% needs to go to savings and life zapping you will eat the other 10%

Answer 5

One thing for certain - when you find yourself in a hole - stop digging.

You and your bf need to have a serious money discussion. The bottom line to that discussion should be a goal of generating $X by ______ (fill in a date). You are obliged to someone who lent money for your car and rent and furniture. When things start getting tight(er), it is your credit on the line for those items. If your ship (the two of you) is not back on course soon, there will be serious consequences that will last a long time.

You will need to determine for yourself if you want to stay on that ship if he does not get a job or if you want to sail away on your own.

There will be many financial issues in your future as you build a career and a life and family. Start setting goals and work towards them. Talk to a financial professional about these goals to help guide you to realistic goals and steps to achieve them.

Good Luck

Answer 6

One thing you can do is call the creditors and make arraignments to make payments on the interest of the loan only for a couple of months. Sometimes they will work with you in this area. To them, something is better that nothing....
As for your roommate, he needs to get something now, not a couple weeks from now. His half of the bills is his half. Don't let him linger around the house. There has to be something he can do, even flipping burgers.
I wish you luck and keep your head up,you seem to be a strong person.

Answer 7

hi Chris you won't be able to borrow your way out of debt ..Write down all of your debt each little thing.. those so said as consolidation organizations are dropping their non income status with the authorities.. i don't think of student loans would properly connect this anymore ,,yet take all of your debt ideas to a lawyer and declare financial disaster..Get out your mess and overlook about it .. commence a sparkling and spend in straight forward words the money you earn..

Answer 8

Obviously you are making too little money and you are spending too much money AT THE SAME TIME and that is a very dangerous thing to do.

Did you went to College?

Top 4 Answerer in Business & Finance. (Vote for me)

Answer 9

Dave Ramsey has a good book you need to read.

So kick out the deadbeat, then visit www.daveramsey.com

Good Luck

Answer 10

so far all I hear is my, mine and me. to be successful a couple must become one. we need to fix our problem. he already knows what you are doing. once he sees you two are a team perhaps he will try harder to find a new job.......if not you have to make a decision...do I carry the weight or let him go.