Warning: this is extremely long.
I’m going to try my best to provide all the details.. I’m new here so forgive me if I am missing anything or if this doesn’t make sense.
Background: I will be 30 years old next June, I have an associates degree in liberal arts, an unfinished bachelors in international business, a ton of long term work experience and currently hold my insurance agent license and work for an independent agency. I typically work a 2nd job in the restaurant industry but lost it due to COVID and quite frankly was overworking myself.
I sort of turned myself upside down in my younger 20s. I have a 2016 Corolla that I owe more than what it’s worth. I owe a little over $9,000 to the loan ($274 a month) and it’s probably only worth less than $8,000 if it were in perfect condition. I put quite a bit of mileage on it in the first few years and caused a couple thousand dollars in cosmetic damages (front bumper/lights).
I owe $900 to a closed credit card, $400 to an overdraft protection fee, and about $200 in medical bills. My student loans are insane and at $31,000. I have one stupid Victoria’s Secret credit card with a $250 limit but I do not use it. All of my bills have always been paid on time .. but I really struggle with the student loans, often deferring them and not managing to pay the interest. I’m so ashamed with myself.
Rent is $625 a month which is insanely low , I know. Our electric bill ranges from $40-90 depending on the time of year. $40 for internet. All which I generally split with my boyfriend who unfortunately has been laid off most of the year due to the pandemic.
My other personal bills involve $90 for cell phone which I need to just face and get a cheap phone and not an iPhone and $35 for the gym .. which I realize I could let go of but is my only real escape. I also pay $24 a month toward a life insurance policy and a disability policy. $143 toward car insurance.
My income as an agent comes in roughly around $26,000 - $27,000. I am paid a fairly low hourly wage with the expectation of selling more policies and earning more of a commission based income. However I am only in my 1st year and am still accruing accounts - finding it tough to balance the service work / sales all in one. Some months my commission has been as high as $250.. some months as low as $5 or none.
Basically with out factoring in commission and student loan payments - I have $90 of flexible spending a week. Gas , groceries, whatever else. My credit score is said to be 685.
I am seen as a great potential at my work and I do enjoy what I do. I also will have the opportunity to receive a fairly large (for me anyway) yearly dividend of profit sharing beginning in April 2022. It just seems so far away.
I have been really frivolous with my money in the past and I’m embarrassed to admit it here. I spent most of my extra money drinking or buying pot in the past. It all finally caught up to me this year when I realized I was barley making ends meet and it was really bringing me down. All of my friends starting families and buying homes.. traveling and seeing the world. And I can’t even afford to buy myself a new pair of shoes for work.
I quit drinking in July and 4 days ago made the decision to finally quit smoking pot. I know it’s lame . But I am truly trying to get back on my feet. I have lived in this tiny studio for 3 years and I am just desperate to get out. We can’t even afford a 1 bedroom for $8-900. It’s awful. Every day I see a friend buy a house or fly to some vacation and it kills me.
I don’t even know where to begin. I have been trying to come up with a “side hustle” to bring in more money but I’m not having much luck. I’m an excellent photographer but have never been able to afford a real camera.. only my cell phone. I’ve considered InstaCart but I’m worried it will just put me in a worse position when taxes roll around. We have considered moving into my parents for a year to get us on our feet but it would definitely be a challenge to live with them. We would be paying $2-300 less a month , though.
Anyway, if you actually made it through this.. thank you. If anyone has any advice on how I can make 2021 a better year - I would forever be grateful.
Submitted December 04, 2020 at 07:51PM by haanaah16 https://ift.tt/39FEmwx
