See title. I've always shunned debt and credit my entire adult life, but now im in a situation where my debts (medical and vehicle) are catching up to me. I basically can't afford to pay bills as they come anymore.
My credit score, against all odds, is FICO 703. I'm not sure credit is my solution but I would appreciate help figuring out my financial situation.
I recently accrued about $4500 in medical debt for a kidney stone. And have $8,700 left on a car payment.
Monthly costs though.. I make $48k/year. So about $3k take home a month. About 25% tax
48k-25% = 36k
$36,000/12 = 3,000
$3k/mo for all living expenses
Solid Bills/month: $1500 1br apartment with utilities and internet included. $300 car payment $100 phone $100 car insurance $80-100 electric $120 gas commute (work only) $30 tolls to work
Resulting in:
$3,000- ~$2230 = $770
Soft bills?/month: $200?/ Food $50?/ Entertainment $100?/ Holidays/family expenses/ gifts $150?/ smokes (no I'm not proud of it)
$770-~$500 = $270
Savings that would be nice for a functional household:
$100?/ Health insurance (if I sign onto my work insurance it'll cost ~$200/month but with ~$5,000 deductible before any coverage, so I'm looking for something cheaper.
$50?/ Clothes: just any functional clothes at all, including shoes.
$50?/ Car repair savings: hopefully this would cover it because I would be screwed if my car went down.
$270-$200= $70
$70/ Retirement: much as I would like it, it's kind of here as a joke. Odds are my expenses will exceed this even if in super spartan in my butget for thd foreseeable future.
The kicker:
Current one time payments: I'm behind on car property tax, car inspection, car tags. Medical bills totaling around $5500, federal taxes coming up.
Plus if I miss rent it's a +10% late fee, so about $1650 instead of $1500.
IDK if this is the right board for this, I really dont mean to complain about my situation, but this is starting to look like a financial riddle I just can't solve by myself.
Thanks for hearing me out.
Edit: So I guess I already knew this, but a roommate to split rent with would be ideal in this economy, no work like teamwork.
Does anyone have good recommendations for how to either find single rooms to rent, or preferably find good roommates? I have 2 months and ticking. I really appreciate yalls input.
If it's relevant I live in Central VA, US.
Submitted February 05, 2022 at 12:46AM by arginotz https://ift.tt/YrbeTJB
