i really need some help with money, i am 18 and was stupid when i turn 18 thinking i was king of the world, i have a loan, went abroad repping and thought i ruled the world.
I have now been at home 3months, and dont intend to go away again working. However i still work full time as a travel agent for the company i worked for abroad. Everything is getting the better of me.
My Loans, car costs, massive overdraft... I have tried everything to earn money, i work more hours overtime than you would believe, but i am still struggling. My Mum and Dad dont really want to know, but there is nothing eles i can do or turn to.
Any Ideas??? ...
Thanks. Rich
2007-12-11 09:10:55 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Yeah. Stop living a rockstars lifestyle on a budweiser budget.
2007-12-11 10:16:32 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Only family will be willing to help you - so maybe your should throw yourself on their mercy, ask for a loan to clear up all your debt and then repay the loan to them.
But first, you should take responsibility by contacting ALL of your creditors and see what you can arraign with them - let them all know just how far in debt you are and that there is a chance you could declare bankruptcy - it might make them more inclined to lower interest rates, because the minimum payments do not even cover that amount.
Also - look for a better job. Travel agent is not the best paying job but does offer great opportunities for travel (if you can afford it). Good luck.
2007-12-11 17:18:57 · answer #2 · answered by justwondering 6 · 0⤊ 0⤋
Cut your costs. If you don't need it don't buy it. Do you need a car?? Write an accounts diary each week, nice and simple just ins and outs. Evaluate this and see what you can live with out. No one needs luxuries, you can live without them. I'm guessing the weekend will be a heavy out going. Its ok to stay in, I've been doing it for ages. If your friends mock just tell them 'staying in is the new going out'
2007-12-11 17:27:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Many people turn 18, get offered credit cards, and use them without thinking of the consequences. There is nothing you can do except work hard to pay them off, learn your lesson about credit card debt, and ... DON't NEVER TO DO IT AGAIN!
2007-12-11 17:24:17 · answer #4 · answered by MrJohnh 2 · 0⤊ 0⤋
You need a massive life turnaround.
I don't suggest religion (actually, if you're religious, dump your expensive religion), but you must think of your road to recovery no differently than a recovering drug addict or someone who's coverting to a religious cult.
Only massive changes in your spending habits will save you. Are you prepared to move, to get rid of your car, get a new social life, etc.?
2007-12-11 17:35:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Buck up, tell your parents and see if they can help you. Things may be tight for awhile as you pay off your debts but chalk it off to being young and dumb and since you have learned your lesson you will be the better for it.
2007-12-11 17:19:31 · answer #6 · answered by Diane M 7 · 0⤊ 0⤋
Try debt consolidation. and after you clear things up live by the rules if you cant afford it you dont need it and pay cash for everything.
2007-12-11 17:21:00 · answer #7 · answered by scokeman 4 · 0⤊ 0⤋
You're gonna have to work and pay your way out of the hole the hard way, and consider it a lesson learned.
2007-12-11 17:54:32 · answer #8 · answered by npk 7 · 0⤊ 0⤋