Any other Bees with financial issues??

posted 3 years ago in Home
Post # 3
737 posts
Busy bee
  • Wedding: May 2014

@Stace126:  Have you ever considered renting a room out to someone?  It may not be the most ideal situation but it could get you out of such a tight bind.

Post # 4
3735 posts
Sugar bee
  • Wedding: September 2014

@Stace126:  I would say to pay the minimum on your cards for now and take some deep breaths. I know how much it SUCKS to have financial woes. I had a judgment against me in 2004 and it was terrible for a while.

Pay the minimums for now, take a second look at your budget and start looking for ways to increase income or cut costs. I know I’m over simplifying but if you can mak the minimum payments, you’ll be ok until this passes.

This WILL pass!

Post # 5
922 posts
Busy bee
  • Wedding: April 2014

I have definitely been in your position before. Just know that it will get better. I spent most of my life living paycheck to paycheck and having to use credit for emergencies. i wasn’t living beyond my means, I was just living. Your husband won’t be in school forever, you will end up getting raises or getting a higher paying job, this isn’t permanent. You will get ahead of this.

Post # 6
10454 posts
Sugar Beekeeper
  • Wedding: January 2011

@Stace126:  Can you get an unsecured line of credit?  DH and I set one up a few months after buying a house as part of our emergency fund.  There’s no specific collateral for it, although it is probably easier to qualify when times are good.  That’s actually why we did it now, even though we aren’t planning to use it.  You don’t know you’ll be declined for sure unless you’ve actually checked it out a bit.


Post # 7
7630 posts
Bumble Beekeeper
  • Wedding: January 2013

Is there anything you can sell around your house? 

Are your credit cards interest bearing? If so I would move the balances to a new card that won’t charge interest for 12 months.

Is there any job you can get temporarily? I worked at Subway once for a few weeks just to make rent. It wasn’t a nice place to work but as a result they’re always hiring.

Best of luck. You will get through this. 

Post # 8
2 posts

Sell anything off craigslist if you can and look for any job for the time being, maybe ask a friend if they know of job openings. Also do you qualify for unemployment? How about refund on your tax return? Heck even dog walking or baby sitting will help, just don’t give up and you’ll make it through. Sorry you’re going through this.



Post # 9
992 posts
Busy bee
  • Wedding: January 2010

You need to make a budget and be realistic about the money coming in and going out. A lot of people say they have no extra money, but they are actually spending it on unnecessary things. Coffee runs, fast food, convenience store trips, cigarrettes, smart phones with data plans. All of these things add up at the end of the month, and you usually have nothing to show for them.

You need to cut anything that isn’t necessary. Drop your phone plans down to the minimum. Drop cable. Sell a car and take public transportation. Pack your lunch every day. Make bulk meals and eat leftovers. Sell anything that is of value in the house. 

The problem with debt is that once you’re in it, it seems impossible to get out. But you have to start living like you have no money and climb your way out of the situation you put yourself into. Start by paying as much as you can on the credit card with the highest interest rates every month. Once that one is paid off, use the money you had been paying on that one to pay the next one. Every extra cent you have should go towards paying off debt.

P.S. This is why you shouldn’t buy a house until you ALREADY have a 6 month emergency fund. Stuff breaks, unexpected costs always come up. I know it’s too late now but in the future, an emergency fund needs to be your next priority after you’ve gotten yourself out of the debt hole.

Post # 10
3016 posts
Sugar bee
  • Wedding: July 2014 - Prague

@Stace126:  I feel your pain. I know exactly how you feel. It just seems like the expenses never stop. We get one thing paid off and suddenly there’s another debt to take the last one’s place. It’s grueling and it wears you down. 

I don’t have any advice to add to what the other Bees have suggested, but I just wanted to give you a virtual hug.

Post # 11
2562 posts
Sugar bee
  • Wedding: March 2014

Hey, don’t be embarrassed – it’s not doing you an ounce of good.

This shit is happening to you? The best way you can start to get a grip on it is to OWN IT. You don’t have to flaunt it, but if anyone thinks they can judge you on it, they can go fuck themselves – seriously!!!

Pay the minimum on your cards (just keep it afloat), and make sure you transfer balances if it comes around a time when your APR is going to kick in (sometimes card do a promo where you get a year of no interest)

Obviously work on getting a job – any job is better than no job, and we’ve all had to work crap jobs at SOME point in our lives. Even a temp job will help!!

I always suggest hard-core meal planning to help save money. You obviously have the internet, so utlize a website (I use ZipList) to make a weekly meal plan, and only buy groceries that fit that plan. Our grodery bills were cut SO MUCH doing this, and we eat much less crap.
Make sure that any recipe you choose has normal, attainable ingredients – I skip adding any recipes that call for weird exotic ingredients.

And like PP said – some things are NOT necessities.
Going out to lunch every workday of the week can cost you $140+ a month. Bringing lunch to work can save you money (even if no one else does it – fuck them)
Even that daily cup of coffee from McDonald’s adds up – a $1 coffee every work day is $20 a month, which makes $240 a year.
Make sure you take a look at your phone plans, and if you have data, take a look at your data usage vs. how much you pay for. I saved $15 a month on my phone bill by lowering the data… I never use it (always use wi-fi).

Take a look at your spending and make sure you aren’t buying things that could be doen for cheaper another way.

GOOD LUCK. I’ll keep you in my thoughts.

Post # 12
1666 posts
Bumble bee
  • Wedding: November 2015

@Stace126:  Ok, here goes:

1. Big hug! Take some deep breaths and calm your mind a bit. Think about the positives – you have a loving husband and a sweetie little doggie. Those are two very good things to focus on when you feel stressed.

2. Consider renting the extra room(s) in your home to bring in some extra cash. It’s not ideal for newly-weds, but it will help you to keep up your mortgage payments. Privacy isn’t as important as having a roof over your heads.

3. Keep looking for a new job. I know the job market kind of sucks, but it’s important not to get discouraged and to keep looking. If you haven’t found something soon then take a part-time job and keep looking for full-time work in your spare time – at least you’ll be bringing in some money this way.

4. Take a look at the things you have in your home that you don’t use or need. Sell that stuff online. It may not help much, but it’s something.

5. If you need to and public transportation is available, consider selling one of the cars. I wouldn’t recommend this as your first option though because you don’t know where you may be hired next.

6. Make the minimum required payments on your credit cards for now. If you have extra money, see about putting it towards your emergency fund. Once you have that built up, focus on paying down the debt.

7. Most importantly, try to stay calm. I know how horrible anxiety can be and how it feels like your brain won’t shut off. It’s the worst feeling in the world. . . but focusing on the negatives will only make it worse. Find one positive thing in your life and think about it whenever you feel overwhelmed or stressed. It won’t make the anxiety go away, but it could help make it a bit easier to handle. And remember that things will get better with time. Both of you keep doing the best you can.

Post # 13
9859 posts
Buzzing Beekeeper
  • Wedding: May 2014

Look at transferring your credit cards to something that’s interest free for 6months or a year – just make sure you pay it off in that time or move it to a new one before interest kicks in.  That’s what I’ve done, I’m only making minimum payments right now but it’s nice seeing the balance go down by $150 a month instead of $30 because the rest would be interest.

It goes without saying, get a job, any job, even if you’re flipping burgers, you need a job.  Keep looking for a job in your field, but you need income.

Get creative, can you walk dogs? Clean houses? Deliver Flyers?

Post # 14
2150 posts
Buzzing bee

@Stace126:  Hugs to you girl!

FI and I are very financially unstable as well.

Well, we’re able to make ends meet, but that’s it! If we had a big expense come up, we’d be screwed.

I agree with what all PPs have said. 

Also, you said your husband is in school. Does he take student loans? If he is able to get a government loan, I would suggest maybe looking into taking out a small amount- just like $4000 or something small. He wouldn’t have to pay it back until after he graduates. If he is eligible for a subsidized stafford loan, you won’t have to worry about interest accruing while he’s in school. It may not be the most smart option, as you will be adding to your debt, but if he’s going to be making more money once he graduates, it may not be a bad option. Good luck!

Post # 15
1016 posts
Bumble bee
  • Wedding: August 2014

Oh boy, been there. Plenty. I am sort of there now as a major client has gone bankrupt and I’m out over $20,000 🙁

Money comes and it goes, you have good times and bad, seems you’re either flush or broke. This too shall pass. Do what you can in terms of belt tightening and odd-jobbing, selling things, renting out bedrooms. 

It doesn’t take much more than illness or a fender bender to become financially strained, don’t be embarrassed. We’re all a paycheque away from being out in the cold. Some of us maybe two or three paycheques – but if we’re honest we are all financially unstable as we rely on our jobs, our local economy or our clients to be able to keep eating. 

Keep treading water – you will get a streak of good luck, I believe it. When it rains, it pours but when it’s over the sun shines! I’ve been through plenty of periods where it seems like the world is beating me down: car accident followed by dog emergency followed by unexpected bill followed by illness. Keep moving through it…the pendulum will swing back your way – you’ll get a job offer, a big birthday cheque, things will stop breaking! 

When you get there, back to that more lucky stable place, use the memory of those hard times to fuel change. Use it to keep you motivated to build an emergency fund or stay focused at the new job so you can get that raise or to keep you sticking to your budget so you can be ready for the next time the clouds roll in. 

Hang in there. 


Post # 16
1315 posts
Bumble bee
  • Wedding: December 2011

Remember it’s just money. It’s a thing. It doesn’t have anything to do with who you are as a person. Some great people have money problems. Some bad people have tons of money. And vice versa.

As you said, apartments cost more than your house payment so you would be hard up regardless. Don’t beat yourself up for buying, therefore. And don’t be embarrassed, because your ability to feed and shelter yourself does indicate that you are richer than a big part of humanity. Even if it’s not ideal to use it, access to credit to buy food and medicine is a valuable resource many people wish they had.

So you are strategizing already by flexing to use your credit. keep strategizing. Are there food banks in your area?  You do not need to be desperately poor to access food services. Food banks are great for bridging the gap in a temporary situation like this due to job loss. Meanwhile cutting your grocery bill to zero can help keep you in your home, which is a lot less costly to you and your community vs finding you a new one. When you get a new job and stabilize, write a check to the food bank.

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