Take home pay
$4,030
Expenses
Rent: $1,215
Utilities: $100
Food: $310
Consumables (e.g. toothpaste, deodorant, laundry detergent, etc.): ~$80
Phone bill: $30
Hair cut: $42
Laundromat: $40
Spotify: $10
Minimum payments on credit cards: ~$1,950
Net Income
+$253
All of the above is for one single guy in NYC. I just stopped contributing to my 401(k) to give myself some breathing room as I was basically net zero before that.
I have more than $50,000 in credit card debt, $30,000 in student loans (which I haven't had to make payments on since Covid started), and about $30,000 sitting in a 401(k).
Just moved to NYC to start a new job a few months ago and new company didn't provide any assistance with the move. Missed a few months of debt payments as a result, but the new job was a considerable increase in income from what I was earning before so I think it was overall a good choice.
I have some things I can sell that might net $2000-$3000.
I do find myself falling into the occasional, "well, I'm already in debt up to my eyeballs; what's another dinner out?" trap so that's probably the biggest, most dire hurdle at the moment. Really wondering at this point how much I should be thinking about more drastic things like throwing my 401(k) at this or something along those lines.
Any guidance is appreciated. Happy to provide more info if needed. Thanks.
Submitted November 21, 2022 at 12:51AM by Upstairs_Ant3694 https://ift.tt/7CIcifp
