I am a teacher with a bunch of debt.l racked up a bunch of credit card debt when l had to quit work for a few months before l started teaching to finish my teaching portfolio and get my classroom ready. (That was 2 years ago.) l also got into an apartment that is too expensive for me. (A moron did my finances and told me that l could afford it.)l know that l have to get out, but my lease month is October, right after the summer where l do not get paid.l can not figure out how to get enough money for a security deposit.I am paying all of my minimum payments on my credit cards and I've fallen behind on my student loans.I've cut my spending by a ton.l went 2 months without any entertainment money.I've started riding the bus to save money on gas, I've stopped buying things like contacts and make-up and have just been wearing glasses and being a little less fortunate looking.I've gotten a roommate for my apartment and gotten a second job.I've tried consolidating, but nobody wants to give me a bigger loan since l have bad credit.l just can not see how l can make any headway on my bills and save to make a security deposit on a more affordable apartment.

Thank you!
Thankyou for such great advice.l think l will check out that book from the library.l have no cable, but l do have internet.l do not know if l can get rid of it since l advertised free internet when l put the room for rent.l also have a cell phone, but l have my parents and my cell phone on the same plan that l pay and in return, they pay for my car insurance, the licence on my car, AAA, and give me gas money and food money when l come to see them.l think i'm making out like a bandit in that deal.l will also look into getting more work.Maybe toutoring.

l felt your pain about 7 years ago.
l started listening to this guy named Dave Ramsey.
l bought his book $ 15.00 and started using his envelope program and his debt snow ball and was out of debt in 3 years.
Give it a try, it worked for me.
He has a website: daveramsy.com
Good Luck, sounds like you are going in the right direction, but please. Do not borrow to get out of debt!

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Mark

Unfortunately you're probably at the place where u have to cut back even more or get yet another job. You should definitely get a job during th summer so u do not go for 3 months without pay- EVERYWHERE hires during the summer since so many people take vacations.

You have to make a budget spreadsheet & write down every penny u spend. l did this when l first got a job & realized l was making $30K per year & was not saving anything. After making a budget, within 3 years l had enough money for a nice down payment on a house. It can be done but takes a LOT of effort & sacrifice.

Do u have magazine subscriptions? Do u have cable? Do u have internet? Do u go out to eat? Do u have a cell phone? All of those r luxuries & tend to take up huge chunks of change per month & a person really does not need them if u think about it. Make spaghetti, cereal & soup ur best friends for a while.

Other things to look at r energy consumption- do u leave appliances plugged in that u only use a few times per year? They're probably sucking up a lot of power. l have my major items on a power strip & when l go away for a weekend turn off the power strip & save. l also unplug my computer when l am not using it. My electric bill went down about $7 the first month l started doing this.

The best (and really easiest) thing to do is to use coupons. l personally use coupons for at least 75% of the stuff l buy. l spend about an hour per week sorting through & making lists of things l need. l then make a want list so if l get a coupon for it or it is on sale, then l go ahead & get it.

Clothing- Kohls, JCPenneys, NY & Co offer great coupons all year if u get on their mailing lists.

Food - Spend the $1.50 for athe Sunday paper & become a coupon clipper. l save between 20%-40% everytime l go to the grocery store just from using the Sunday paper coupons & buying items on sale. Often l wind up paying pennies for things with the use of a sale item & a doubled coupon.

Dining out- TONS of coupons out there for restaurants too if u just can not handle another night cooking for yourself. Olive Garden, Boston Market, Spaghetti Warehouse, Dennys, Arbys, KFC, & Taco Bell r some of the places that always have coupons available.

Gas- l shop at a local grocery store that gives me 1 cent off gas for every $5 l spend. So even if it is only 6 cents a month, it can add up, l think l am up to $80 savings this year- just from free fuel points l get from spending. See if any of ur local grocery stores do the same.

Sorry that got a bit long, but l am obsessed with budgeting & penny pinching! Hopefully something above was helpful to u & good luck. just keep plugging along :)

u r on the right track & doing good many of us r working two jobs, & trying to dig out. please check out dave ramsey . com & his book it is good advice & a workable plan. l am currently working with it & as of this month have paid off my last credit card. the roommate was a good idea now keep looking for the least expensive way to move into a cheaper place & consider anything else that will decrease expenses cut down on premium packages for cable phones etc. reshop ur car ins. or maybe sell the car & move down to reduce the expense. as soon as u can pay this stuff off u can get more new stuff that is paid for good luck & remember u r not the only one going through this now.

Think of slow victories.

Analyze if u have only a cash flow problem, or if u r spending more than u r making. There r probably places in ur area that will give free (free is the key word here) credit counseling.

Minimum payments on credit cards is not good. Try to work up paying a little bit more. Getting a cheaper apartment is good. There r people worse off than u that can get apartments, have confidence. Or try living with someone, sharing rent, for awhile.

My big money waster is eating out. It is expensive, even at McDonalds. l do not know if this is ur problem or not. Bring bag lunches.

Ask about student loan deferment. If u talk to the bank that holds ur loan before u get in trouble, there is more flexibility, more options.

The key is living below ur means; spending less than u earn.

It sounds like u r doing most of the things u need to do (who needs Dave Ramsey, anyway). But, as u said, u r already way behind in debt & can not seem to ''catch up''. You may be a good candidate for some kind of debt consolidation loan & credit counseling. Basically, they allow u to consolidate ur debt into one payment that is low enough for u to pay it & still save a little. You might also want to probe for a raise, or look for a job with more pay. And as soon as possible, get into housing that u can really afford.

Be encouraged!! You already have the discipline to live a cut-back lifestyle. You will make it if u keep at it. You even found a way to bring in extra income!! (Sucks to be working all the time but when do we ever just ''get'' extra money?)

Basically l am going with Big-G is answer. Check out Dave Ramsey. Seriously. He has a call in show as well. Save a few bucks & get his book from the library. Or at least buy used. Every little bit counts.

He has real actual, practical, do-able advice. He will give u tools that stop that powerless feeling! You can gain control again. You will have a plan not just an idea. You will find u r doing many of the things he puts forth. It will give u a priority list though. Like start saving up an emergency account. He explains the ''whys'' as well. So u do not dip back into credit dept to pay for new tires or towing, repeating the act that got u into the mess u in now. (me too by the way)

His basic points r ''Age ur wage'' (live within ur means)
''live like nobody else, so u can live like nobody else'' in other words save money, budget tightly, never stray from it. put ''extra'' money back into paying off dept, no starbucks etc so u can live dept free & start putting money away for retirement etc. And many other pratical pieces of advice.

You Can Do It. And most who follow his plan r out in a few years. Not decades. How cool is that!


l am no success story yet but l am on my way. l still need to put the plan on paper so l can see my date of dept freedom. And it is like a contract with myself.


Do u want that _____(fill in the blank with ur item of choice) now?
Or would u like to be able to buy that thing 5 times over in 5 years no problem?


Re-train ur thinking about wanting stuff. Change ur input & output (Yea, u did that!!!! l can not stress enough how awesome that is)
And keep yourself positive about this amazing journey to financial freedom that u r on. You might even beat me to it!

All the best !!


Brian