I've always been good with my money - my whole life I've saved diligently, and until last month I had 4500 in savings with zero debt.
However, this summer I decided to do a study abroad program for engineering in Canada. The program was expected to cost 3500 total. The enrollment fee was 2000 Canadian, or just above 1600 US. I decided to put this on a credit card, because I knew that I had enough in my savings to pay it off immediately if necessary.
For this trip, I had around twelve hundred dollars saved, which I assumed would be enough for a few weeks. But I ran into a few problems - the week before the trip, I had my car inspected, and I failed inspection. The repairs cost me three hundred and fifty dollars. On my way up, gas and food ended up being more than I expected - around a hundred. And then, once I arrived, I was hit with an unexpected five hundred dollar housing fee, which was around 350 US.
The total impact of unexpected expenses was around 700 US. This was a heavy hit on my budget, and it took me down to five hundred US. This was still quite a lot of money, and I was doing fine until last Thursday.
The five hundred was spend like this:
100 for cooking supplies.
125 for food (I had no idea groceries were so expensive!)
100 for a few nights of cheap drinking and one bad, bad night of expensive drinking. (First experience in a bar, wasn't thinking properly.)
20 for gas.
I was stupid with my card, and I maxed it out.
After two weeks, I was at 155 US remaining. This situation was unideal, but my biggest expenses had been paid for, and I felt as though I could stretch it for a while. However, I wasn't expecting to be hit with 140 US in bank overdraft charges after I went grocery shopping. I had assumed that the money would automatically transfer from my savings, and while I was in the store I didn't bother checking my account. I didn't There were four charges each totaling 35 US. - three from each grocery store I went to, and one from "Audible", which I didn't understand, and it is currently in dispute.
This made me broke, save for the credit card, of which thought I had a hundred US left on.
Last night I went out with some friends and had a few beers. When the time came to pay, I gave them my credit card - it was declined. After a long conversation, I decided to leave my Passport and Drivers license at the bar as insurance, and I promised to return today and pay my balance (35 Canadian) in full.
After we got home I checked my card - remember that bad night of drinking? I'd used my card instead of my debit card. Instead of 50 dollars, I'd spent a hundred. That, combined with lunch earlier in the day yesterday, had maxed out my account.
The current situation:
I owe the bar 35 dollars, which I have to pay by 8PM tonight. I have a four rolls of dimes and four rolls of nickels, which I can exchange for Canadian dollars - this should cover by bill plus tip, I already have it all worked out.
Bank Account:
The bank has refunded me the $140 in overdraft fees after I called them and asked why I wasn't notified as they were occurring.
I can't use my card because I had it disabled after the audible purchases. I have to drive to TD bank and get a new one once I have my license.
I am currently in the process of transferring an additional 100 dollars from my Venmo account, and I am also transferring 500 dollars from my ROTH IRA, which I intend to pay back within the next three months. This should create
Credit card: Maxed out. My interest rate is disgusting, 25%, but for some reason i have no minimum payment due for this month.
At the moment, I am broke, as none of my money has finished moving.
Going forwards:
I have a good summer job lined up back in the states that should net me just enough to cover my credit bills. I also intend to take a second job that will earn me enough to restore my ROTH IRA safety net, plus a little extra for good Karma, and some pocket money for when I have to buy schoolbooks.
Otherwise, I'm not sure what to do right now. I'm hungry, I'm out of food, and I'm broke.
On the plus side, I have a warm bed and my pet fish Charlie.
Any advice on how I can stretch out my 600? (Plus, I just realized, the 140 I received back from the bank.)
Submitted May 28, 2017 at 01:38PM by herecomesthethunder http://ift.tt/2saI3kE
