2016 was a pretty volatile year in the JoG household. There was an unpleasant divorce, followed by me totaling my 6-month old car (with just over 6000 miles). A lot of mental health problems as a result of both, followed by some pretty crazy purchases. A new, custom ordered 2016 Subaru Impreza, financed (~20k) at 3.5%, a lot of careless credit card spending that I have been on and off trying to take care of (currently carrying a balance of about 2k at 14%), still not paid off the car I totaled in April (insurance didn't cover the 6k that I was underwater from rolling over negative equity from a more expensive car, both purchases were pre-mmm discovery), and then I bought a motorcycle in December on financing at 12%.
Now that my life has started to stabilize some, I'm looking at the aftermath of the last year and I'm kind of scared. I make decent money for only being 3 years out of college (as an engineer), but I'm still living paycheck to paycheck trying to keep up with my horrible spending habits.
Things I have done:
- Reduced eating out to occasional (once every week or two) "date nights" with current girlfriend.
- Started cooking for the week on weekends
- Started going home for lunch instead of going out to eat (I need to start bringing my lunch with me, but I'm forgetful)
Things I know I need to do:
- Pay off the totaled car (2k left) to free up $480/month in cashflow
- Pay off credit cards ASAP
- Pay off bike ASAP
- Pay off student loans, car, and house. In that order
Things I should do, but don't want to:
- Sell the bike (I'm a new rider but it's currently my best form of stress release)
- Sell the car and replace it with something used and reliable (I plan on keeping this car until the wheels fall off. It's relatively fuel efficient and, so far, reliable)
With all of that being said, what are some things I could do to increase income/reduce spending? I have considered a temporary second job, but finding a place that will hire an engineer to work weekends part time isn't the easiest thing to do, and I travel too much to do anything during the week. I'm pretty well aware of the level of shit I am in, so please keep comments productive as I already know how disastrous my choices were.