I am a hardworking person with a full time job and I am being overrun by bills. How can I get my bills caught up and everyone paid off and still hold my head high?
2006-11-01 10:40:07 · 12 answers · asked by Erik W 2 in Business & Finance ➔ Personal Finance
Not to sound simplistic, but there are two main ways:
(1) make more
(2) spend less
The best way involves doing both. So some specific suggestions include:
(1) find the "fat" in your spending and cut like crazy. $30 movie night out? Cut it! $40 dinner out? Gone! $2.50 per day for a latte? Lose it! (Gosh, I sound like Tony Robbins...sorry.... :) )
(2) see if you can get a little overtime or a better-paying job
(3) PAY OFF THE CREDIT CARD. 20% interest RUINS a budget. Only charge what you are absolutely sure you can pay off that month and pay it off every month, in full. If you can't do this, consider finding some reputable money-management help.
(4) If someone is hassling you to pay a bill and you can't quite pay it yet, talk with them. It's better than dodging them. Ask for a payment plan.
Good luck!
2006-11-01 10:47:33 · answer #1 · answered by DancesWithHorses 3 · 1⤊ 0⤋
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2006-11-04 05:51:02 · answer #2 · answered by TheSkysTheLimit 2 · 0⤊ 0⤋
What you need to do:
tomorrow:
go online and search for bestsellers in the personal finance and investing sections of amazon.com. look up the same books on half.com and compare with amazon's used book price. order the used copies for less than 5 bucks each and read them.
recommended books--Rich Dad Poor Dad, Think and Grow Rich, Seven Figures in Seven Years, Automatic Wealth...GET THE IDEA?? what you will learn in these books is worth more than the 5bucks you spend on the book and shipping.
If you are too stingy to buy those books, check out whats offered at your local library.
short term:
-stop using your credit card.
-buy the cheapest groceries you find (bulk..and no name brands)
-start drinking water from your faucet. water is cheap ;) buy some gatorade mix if it's too bland for ya..
-start eating pastas and cheap food like rice.
-use lights only in the rooms that you use. flourescent bulbs are more efficient that incandescent bulbs
-put towels where you have cracks in a doorway or windows to the outdoors. start wearing sweaters and sweatshirts and turn your heat down.
-don't watch tv..no cable unless the only channel you watch is cnbc...which I'm sure you don't...
long term:
-find a roommate to split your rent or move into your house and rent a room from you, if your living situation permits that
-your next car should be a hyundai accent and you should lease it.
-ride a bike wherever you can when the weather gets nicer
-make friends with people who have money and know how to make money. you will learn from them and become motivated to invest and/or start your own business and to MAKE A SHITLOAD OF MONEY AS FAST AND SOON AS POSSIBLE!!
-over time you will learn the art of making money with money... you will eventually be paying bills with money that you didnt even work for... i.e.--real estate rental property that you own, stocks, **** mutual funds they make you nothing.
also, when you are ready to invest (start with as little as 500 or 1000 dollars), sign up for sogoinvest.com ($1 trades for the first 90days and $3 a trade after that...its the cheapest online broker ever), then, email me. I will hook you up with good stock advice that will make you a 5% return on your investments each month gauranteed.
good luck buddy
2006-11-01 11:27:36 · answer #3 · answered by the next warren buffet 1 · 0⤊ 0⤋
Read the Total Money Makeover by Dave Ramsey. You can also find him on the web, pick the book up in the library if you have to. He talks about getting out of debt, building an emergency fund, paying off your house and eventually investing. Lots of amazing pull yourself up by your bootstraps advice and insight. Start delivering pizza.
2006-11-01 10:44:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
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2006-11-01 11:08:06 · answer #5 · answered by survey_queenbeep 2 · 0⤊ 0⤋
I think you should start trying to control ur expenses.....
Then you can be able to pay all ur bills and try to save some money, a friend of mine gave me this idea, it would be a good start :
Each time u get pay, take from 5% to 8% of that money and save it, that way u will get some money whenever u need it for emergencies.
good luck!
2006-11-01 10:45:35 · answer #6 · answered by Daenaska 3 · 0⤊ 0⤋
if i was you, i would start by cutting down on the unnecessary things, and try to manage your electricity usage. water and heating too. since you are working a full time job, you cant get another one, but you can probably go to the bank to get a loan. and that should help for now. but make surethat you can pay it off
2006-11-01 10:42:22 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Get rid of the things that are causing the bills... sooooooooooo simple!! It's not how much money you make but how much you keep! Stop spending it all !
aaaaaaaaaaaaaah life is good!
2006-11-01 11:34:44 · answer #8 · answered by Kitty 6 · 0⤊ 0⤋
Take things slow, and only buy what you really need. Instead of want. Buy none name-brand items, try to buy in bulk if you can that helps, and try to make a dollar go as far as it can.
2006-11-01 10:43:04 · answer #9 · answered by totally_perfect_princess 1 · 0⤊ 0⤋
Perhaps ask for a raise if the timing is right.
2006-11-01 10:47:36 · answer #10 · answered by Osita 3 · 0⤊ 0⤋