I'm a 23 year old masters student in the US Midwest. Just came back to school to hopefully be more gainfully employable--which is likely, because my work is interdisciplinary and timely. I was homeless and underemployed for about 5 months after a bad experience trying to survive on a retail salary in California in an abusive relationship. I'm also in recovery, about 6 months sober.
Income:
Currently, my income through my official RA position is officially $15000 / year of which I take home $920/ month, (though my plus an additional $40-100 cash most weeks through teaching music lessons, odd jobs, and tutoring, which takes between 5 and 10 hours weekly. My tuition is paid by the university. I have no savings, and about $45 in my checking account at this moment.
Monthly income: $960-$1020
Expenses:
I am only responsible for about $500 in non-waiveable school fees each semester.
From my year underemployed after undergraduate studies, I'm roughly $3000 in debt. I don't have any student loans yet, but my credit is not good. I have one credit card, which is currently maxed out (represents about $2500 debt), and I think it would be a bad idea to open another one. Correct me if I'm wrong on this.
Rent is $350/month, utilities are about $200, but I'm splitting with a roommate. So I pay about $450/month towards housing. Moving in with my parents is not an option.
I pay about $125 / month car insurance. Car is paid off. Thankfully my car is fuel efficient and I only buy about $50 gas/ month.
Food ( I never eat out) costs about $50-60 per week- about $200-240/ month.
I try to pay at least $100 towards my credit card debt each month.
Which leaves me at
Monthly net expenses: $1050, $925 if you don't count the fees.
Do y'all have any hints on how to start clawing myself out of debt? Does it make sense to take out a student loan to try to consolidate debt at a lower interest rate? Do I just wait until graduation when I can be employed at a higher rate for longer?
Any charities you'd recommend to help me cover a $300 utility deposit I can't afford, or to reduce the cost of food?
Also, any advice about feeling less cripplingly shitty for being in this financial place?
I really appreciate the knowledge y'all have and the effort you put into sharing it. Please be gentle, I'm here because I want to be better and I'm aware that this mess is of my own making.
Submitted September 28, 2017 at 06:29AM by prufrockbabe666 http://ift.tt/2fttCE6
