Always in the red. HALP!

[Bearblastbeats]

I've posted here a few times about this situation, mainly every time I end up getting a new job. With each new job i get a significant amount of money, but I'm still living pay check to pay check.

I can't seem to really pin point where I am hemorrhaging money but this whole life and adulting thing is pretty tough.

Here's my breakdown:

$48k salary = $625/wk after taxes (Yay Massachusetts!)

Rent = $140/wk, everything included. (currently renting a room from a lady) ((looking to rent an apartment with a friend soon if it makes financial sense))
Car = $296.01/monthly
Ins = $120/monthly
Phone = $110/monthly
Tolls = $110/monthly
Student loans = $100 or so a month if I pay the min or extra
Credit Cards = $100 or so, same as loans
Insulin and syringes = $100 or so monthly

Currently traveling 48 min one way (43.8 mi) via I-95 S and I-495 S from home (Dover, NH) to work (Lawrence, MA). Tuesdays, Thursdays and Saturdays I have band practice in Manchester, NH. This makes my fuel consumption somewhere between $250-$350 a month, and this is just to practice and work. NOT considering added fuel for playing shows with said band.

I've been able to partially pay most of my bills weekly to help tighten my budget but I still just do not see where I have a zero account balance as I currently write this.
My assumption would be the tolls and gas, and that I should consider moving back to Manchester, NH to cut out a lot of traveling.
I've been diligent on cutting back on alcohol and bars, going to restaurants. I do not smoke or do any other drugs.

Am I missing anything? Probably. What does the community have to say? Thank you in advance!

[swick]

other then tracking your spending and moving closer to work to cut down on commute (Tolls?) there isn't too much we can help with without you going into your variable spending...Filling out a case study would help us give you targeted advice:http://forum.mrmoneymustache.com/ask-a-mustachian/how-to-write-a-%27case-study%27-topic/

[surfhb]

You dont make enough money to afford a $260 car payment

You pay too much in insurance, phone and transportation costs based on your income

How much CC and SL debt do you have?

If you can move closer to your job/activities while cutting down the stuff mentioned  above youre looking at an extra $600 a month.   

Now ask yourself....how long will $600 a month take to pay off your debt?

[Frankies Girl]

You need to track all of your expenses using a program like You Need A Budget or Mint. If you have no idea where your money is going, we can't help you that much until you do figure it out.

Apparently you don't eat food? It's not on the spending breakdown...

It looks like well over $1,000 in income is just not accounted for in the bare bones budget you posted... that's a pretty significant amount to not have any real idea of what you're spending it on!

Agree with surfhb on the car too.

(what jumped out at me is that your phone is hella expensive and paying that much in gas and tolls is ludicrous)

[expectopatronum]

I've posted here a few times about this situation, mainly every time I end up getting a new job. With each new job i get a significant amount of money, but I'm still living pay check to pay check.

I can't seem to really pin point where I am hemorrhaging money but this whole life and adulting thing is pretty tough.

Here's my breakdown:

$48k salary = $625/wk after taxes (Yay Massachusetts!)

Rent = $140/wk, everything included. (currently renting a room from a lady) ((looking to rent an apartment with a friend soon if it makes financial sense))
Car = $296.01/monthly
Ins = $120/monthly
Phone = $110/monthly
Tolls = $110/monthly
Student loans = $100 or so a month if I pay the min or extra
Credit Cards = $100 or so, same as loans
Insulin and syringes = $100 or so monthly

Currently traveling 48 min one way (43.8 mi) via I-95 S and I-495 S from home (Dover, NH) to work (Lawrence, MA). Tuesdays, Thursdays and Saturdays I have band practice in Manchester, NH. This makes my fuel consumption somewhere between $250-$350 a month, and this is just to practice and work. NOT considering added fuel for playing shows with said band.

I've been able to partially pay most of my bills weekly to help tighten my budget but I still just do not see where I have a zero account balance as I currently write this.
My assumption would be the tolls and gas, and that I should consider moving back to Manchester, NH to cut out a lot of traveling.
I've been diligent on cutting back on alcohol and bars, going to restaurants. I do not smoke or do any other drugs.

Am I missing anything? Probably. What does the community have to say? Thank you in advance!

I agree with writing up a case study. Your categories are a bit...broad to have any specific advice, but my first thoughts are:

1) What are you spending on food? $0?
2) Why are you paying $110 for "insurance" (I'm assuming that's car insurance, since you don't own a house) and on what kind of car? Is "CAR" including payments only, or is that just on gas/registration/insurance? Can't tell if you have an additional gas expense on TOP of your car category.
3) What is your tie living where you are? Is moving in the books? Driving 100mi a day for a job is insane. If you are single and don't have that much stuff, moving is the way to go.
4) Your phone bill of $100+ is also crazy. Consider ting, republic wireless, and similar.
5) Adding up things based on the calculation that there are 4 weeks per month, I only get an expense of $1496 vs your income of ~$2500. I wouldn't call that living paycheck to paycheck. You clearly have a lot of incidentals you're leaving out of the expenses breakdown...

[Bearblastbeats]

I think somewhere in the mix of things the weekend out with friends is what is seriously killing me. I do use mint but it's not that accurate I feel but gives me an idea, and according to my budget set ups, I should be pulling about $400 a month savings.

As embarrassing as this is, here is a copy from my mint account. But like I've mentioned, these numbers can't be accurate because I didn't spend any more than $50 dollars at the bars this weekend because I had to pay my car payment for LAST month. woof.

   
Income
    $625 of $2,800

Spending

$972 spent
of $2,393

    Home: Mortgage & Rent
    $0 of $580
    Auto & Transport: Auto Payment
    $307 of $300
    Food & Dining: Groceries
    $150 of $250
    Auto & Transport: Gas & Fuel
    $67 of $250
    Education: Student Loan
    $0 of $200
    Auto & Transport: Auto Insurance
    $0 of $171
    Food & Dining: Fast Food
    $8 of $150
    Bills & Utilities: Mobile Phone
    $0 of $110
    Food & Dining: Alcohol & Bars
    $272 of $104
    Food & Dining: Restaurants
    $101 of $100
    Pets: Pet Food & Supplies
    $0 of $100
    Auto & Transport: EZ Pass Tolls
    $55 of $60
    Entertainment: Movies & DVDs
    $15 of $18


I should honestly consider not drinking any booze, ever again.

[surfhb]

$850 a month budget for food and drink for you and your dog(s)

If you would eat like a normal person and cut your transportation cost you could be saving $1000 a month. :)  Cut the phone and insurance...$1200

BTW.....been there done that.     My old ways put yours to shame ;)

[matchewed]

So regardless of the method you need to determine where your money is going. That's it. There is nothing else to do other than that at this point. If you do not understand where your money is going then you can't figure out how to save more money.

So figure out where your money is going. If you're using Mint but it isn't accurate for some reason then you should carry around a little notebook and write down every purchase you make and how you make it (cash or credit or whatever). Then you can start corroborating and reinforcing what you see in Mint.

Do that for a few months and come back. In the meantime stop spending so much money when you go out.

[swick]

It seems like there is confusion because you are budgeting some stuff in weekly and some in monthly.

Your Car expenses are eating up about 28% of your income
You are eating and therefore pissing away (since it doesn't sound like you are getting a lot of nutritional value in you) 22% of your Income. That is 50% of your income for your car and your eating habits.

EDIT: I was going on your stated 2800 a month, but your after tax income (If you get a stated 625 a week that is either 2,708 a month if you get paid for 52 weeks or 2,604 if you get paid for 50 weeks.) So the %'s are higher

[NewReality]

car: $470/mo for payment/ins. is too much for your salary and sitch. For my used car I budget $175/mo, which includes liability-only insurance.

You've also budgeted over $300/mo for gas and tolls. That means almost $800 just for freakin' transportation. I'd consider moving within transit/walking distance of where you actually need to be.

phone: there is no reason to have more than a $50 phone bill. For that you can get unlimited everything prepaid plan.

groceries: I spend $380/mo for a family of 4. When the kids are with their mom and it's just me, I cook all my own food from scratch and it's about $20/week. You could be around $150/mo tops with some restraint.

And, $100/mo for pet food?

You've also budgeted $250/mo on fast food and restaurants. What a useless, account-draining thing eating out is.Eating a restaurants regularly is the single most overrated "experience" in my book.

bars: you spent near $300, and budget over $100/mo for bars. Why? I realize that depending on what you're drinking that might just be a couple craft cocktails a week. But... learn to pre-drink or bring a hip flask.

I see nearly 1G of fat in there that could go to building that nut.

[expectopatronum]

I think somewhere in the mix of things the weekend out with friends is what is seriously killing me. I do use mint but it's not that accurate I feel but gives me an idea, and according to my budget set ups, I should be pulling about $400 a month savings.

As embarrassing as this is, here is a copy from my mint account. But like I've mentioned, these numbers can't be accurate because I didn't spend any more than $50 dollars at the bars this weekend because I had to pay my car payment for LAST month. woof.

   
Income
    $625 of $2,800

Spending

$972 spent
of $2,393

    Home: Mortgage & Rent
    $0 of $580
    Auto & Transport: Auto Payment
    $307 of $300
    Food & Dining: Groceries
    $150 of $250
    Auto & Transport: Gas & Fuel
    $67 of $250
    Education: Student Loan
    $0 of $200
    Auto & Transport: Auto Insurance
    $0 of $171
    Food & Dining: Fast Food
    $8 of $150
    Bills & Utilities: Mobile Phone
    $0 of $110
    Food & Dining: Alcohol & Bars
    $272 of $104
    Food & Dining: Restaurants
    $101 of $100
    Pets: Pet Food & Supplies
    $0 of $100
    Auto & Transport: EZ Pass Tolls
    $55 of $60
    Entertainment: Movies & DVDs
    $15 of $18


I should honestly consider not drinking any booze, ever again.

Oh, dear goodness.

You are have budgeted in Mint $781 per month for getting your butt around in a car. Move closer to work, drop the car payment, and buy something smaller, cheaper, older, more gas-efficient and get a bike. Save on insurance, gas, tolls, and "car payment". I mean - it takes you 1.25 weeks of salary just to drive around.

Food: Projecting for the entire month from your expenses to date (since that's only 1/3 of the month), you're spending $1000+ per month feeding and watering/boozing yourself! It's an easy, mindless way to waste money. Get it under control and you can enjoy meals out occasionally rather than "too lazy to cook something tonight, so guess it's a $30 meal out". And you have $100 budget for pet food! Do you own a tiger that only eats grass-fed beef?!

Swick beat me to it, but a crazy, crazy amount of money is going towards food and cars.

I've been there, done that with uncontrollable spending. Mint didn't help me at all because it just created a "plan". If you're serious about tracking every penny, try out YNAB for at least a month. I always felt Mint created the illusion of having savings, but was very hard to keep up with in real time and adjust your numbers...so I'd end up crazy overspending in a category and instead of the projected "leftover" I would get $0.

[Another Reader]

Alcohol and diabetes don't mix well.

http://www.webmd.com/diabetes/drinking-alcohol

So, cut out the drinking.

[swick]

Alcohol and diabetes don't mix well.

http://www.webmd.com/diabetes/drinking-alcohol

So, cut out the drinking.

On that note - is it type 1 or type 2? if it is type 2 your expensive/unhealthy lifestyle choices probably have A LOT to do with it. That is piling on future costs and a decrease in quality of life for the fleeting enjoyment of some alcohol and fast food. It sounds like you need to structure your life and develop a strategy where you can have a social life without it costing you so much. Is the fast food related to your long commute, or becuase your not packing a lunch?

[galliver]

Your current routine, 3 days to work and back, 2 days to work then band then back, and 1 day to band and back, totals 568 mi. You must have a really efficient car, because at 30mpg and $4/gal I got $75/week in gas. So that's $300/mo. Move to Salem, and you've cut down your driving to 201 mi, and closer to $100/mo. Even better if you move walking- or biking-distance from work. I assume there are historical reasons you were in Dover...but dude, it's ridiculous right now.

Depending on how much equity you have in your car (better not be underwater!) it might make sense to sell & get something cheap to get rid of the payment and lower insurance. Your total car spending is approaching $800/mo right now.

I know it's hard to be a young person and never go out...esp if you're single and don't have someone to entertain you at home, and you aren't in a situation to throw house parties (speaking of; living with a friend would vastly improve this capability). Here's your new rule: one drink per night. Bars aren't for getting drunk at; do that at home with store-bought booze that isn't ridiculously overpriced. If you can't stick to the rule, don't go. Make rules for getting food out, too. Put a price and frequency limit on it. Maybe try an envelope system. Try to avoid it, generally. Btw, supermarket deli can be cheaper than a lot of takeout if you really need prepared food.

I have Mint set to show me grocery spending, and also total food spending. No subdividing fast food from restaurants from bars. Helps see one's ridiculousness at spending $500+ on food for one. (guilty!)

Oh, and you should look into doing other things on weekends with friends. Go hiking. Go berrypicking and make jam. Go to the beach. Have a picnic. Go to a city fair/festival. Take a dance class. There's lots to do.

[former player]

Alcohol and diabetes don't mix well.

http://www.webmd.com/diabetes/drinking-alcohol

So, cut out the drinking.

I was hoping, given that list of expenses, that the insulin was for the pet.

OP: not only is your car habit insanely expensive, it must be taking up far too much valuable time which could be more productively spent on exercise and on shopping for and cooking healthy food.

[HopefulMustache]

I used to use Mint a lot but found it had a hard time categorizing things unless I tweaked it a lot manually. I use Quicken now, but it's the same thing - to get an accurate picture you really have to watch it at least monthly and make sure everything is categorized correctly before you forget. When I didn't do this with Mint, I also didn't give it a lot of credit and said "eh, well, it's a general idea I guess" and lived contentedly unaware of vast swaths of my expenses. I am no longer content with that, and it sounds like you're not either, so you need to improve the tracking.

A few spots I'd highlight:

1) As many have said, that phone plan is enormous. Many here are satisfied with Republic Wireless or Ting, but even on Verizon or AT&T you should be able to get an individual line for much less, maybe even half that if you can live without a ton of data.

2) You say you're cutting back on restaurants and bars, but you're still budgeting $350/mo (including fast food here) for that... I think you can go further. Try to cook more and do your drinking at home. (I'm also worried at how over budget Mint thinks you are - what exactly is it miscategorizing?)

3) The car is definitely expensive. Can you get a different car that would reduce your payments and cost to insure? Or that would at least have better fuel economy? As a sidenote to this, there are definitely tax breaks for commuters that allow you to deduct some expenses, including that insane quantity of tolls - make sure you're taking advantage (see: http://www.mass.gov/dor/individuals/filing-and-payment-information/guide-to-personal-income-tax/deductions/commuter-deduction.html).

4) A debt note in general, but if you can cut back on optional expenses for several months and aggressively pay down your debts, you'll see savings dividends long term. Without tracking it'll be nearly impossible to feel this concretely, but every month you do a double or triple payment on the car or SL you may permanently reduce your expenses by $10, $20, $30 whatever it is... it'll add up.

Good luck!

EDIT: wow, outposted six times - apologies if I miss any update

[hyla]

As others have noted, transportation is a huge expense,  I think moving to Manchester would make a lot of sense for you.  (although I'm from Western NH, and it severely pains me to say "move to Manchester") Also, have you considered trying to carpool to work, either from Manchester or Dover?  A ton of people commute from Southeast NH to MA, finding someone to share with could cut your gas and toll costs in half.  New Hampshire even has a rideshare website where you can find nearby park and ride lots. http://www.nh.gov/dot/programs/rideshare/lots/

The other obvious money savers would be replacing your phone with a prepaid plan (Could get it to anywhere between $10 - $15 monthly if you're willing to forgo data, even if you aren't willing to give up data you could get it to $30 - $60), and replacing your car with a cheaper one. 

Also, it seems like (at least for me) eating out and bars can add up fast when you want to spend time with friends, and that's where they are.  Inviting friends over for free or cheap things, like potlucks, movie nights, hikes etc. has helped me stay social while limiting eating out expenses. 

[Bob W]

Wow we should come to your house with pitchforks!   Just kidding.

I see that you realize you are making good money and pissing it away?

So let's take the baby steps one month at a time ---
 
Step one ----   
Shoot for a $2 per day daily food budget --- fail and end up at 3.   (yep 3!  Lot's of us do it)
Step two --- Knock out your cc debt  (hair on fire!)
Step three --- either pay off the car or trade down -- either way loose the payment (I would consider a fuel efficient 10K Honda or Toyota Prius)
Step four  --- don't vary from this simple plan,   don't move or change jobs until you have completed 1,2 and 3.

At that point you will be saving about 2,000 a month by avoiding taxes using IRAs and 401Ks.    You will have plenty of extra money for fun as well.

So there you have it.   You are just 3 simple steps away from being master of your universe.   Don't over think it!



*
Regarding you diabetes and insulin?   That is a whole other thingy but I might suggest you check out marksdailyapple.com regardless of you type of diabetes his diet and exercise ideas could probably help. 

[TexasStash]

All good responses... My 2 cents:

OP, I hope by now you sense that you have to make serious changes. You are one bad emergency from complete chaos. Could be medical, could be car, could be whatever. You simply can't spend money on luxuries (band, eating/drinking out at bars/restaurants) when you're struggling to pay for the basic necessities. That is a disaster waiting to happen.

I say this because being in a band and being social seem very important to you... so I want you to see keeping those activities around as motivation to aggressively cut elsewhere (I think you should cut your food budget drastically, but that's another point)... so use those as motivation to cut elsewhere where you're clearly not getting value for your money. For example, here is what my wife and I spend on some of your categories for 2 people:

Food: 750 (and that is ridiculously over what we should spend)
Phone: 95 (again, that's for 2 people and it's on AT&T... which makes me wonder how you're spending 110)
Auto Insurance: We are paying around 90 per month and that's with liability/comprehensive and collision for 2 cars, one of which is 2 years old and the other is 6 years old. How are you spending 120?

And we are ridiculously spendy on those categories! :)

I think Bob has a point... start with the smaller items like food, CC debt, maybe phone plan and insurance, then you can graduate to a cheaper car and a shorter commute. baby steps.

Good luck!

[little_brown_dog]

Also a new englander here - you should really look into living near work in MA if you can. Right now, the tolls on 95 and gas are killing you and your income is being taxed by MA even though your home residence is in NH (my understanding is that NH has no general income tax, but only if you live AND work in NH). it might save you a boatload of time and money to just drive once a week to Manchester instead of driving 5x a week to Lawrence. Lawrence will definitely have higher rent than what you have now, but you could probably still come out with good savings when you figure you will be drastically reducing your gas/toll costs and you will have extra hours each day for meal planning/cooking for yourself.

[Bearblastbeats]

Thank you all for your responses and guidance.

To try and answer some of these questions real quick:

I drive a 2008 Subaru Impreza that i owe $7500. It has 120k miles on it.
I owe $9500 for student loans and 900 for credit card debts.

Im a type 1 diabetic. 28 male, single with a 7 year old labrador. His food budget is high to account for the 55$ bag of 35# pound dog food, that lasts a little over a month, and his milk bone treats.


I do not eat out during the week, my typical day to day consists of; ham egg and cheese sandwich made at home with dripped coffee from my pot. I dont actually eat that sandwich until about 9 or 10 at work. If im hungry afterwards I snack on pistachios and an apple.

For dinners, i always have either a salad made with spinach, cherry tomatoes, cucumbers, red onion, and red bell pepper with either steak or chicken. Since I moved to portsmouth about 8 months ago I havent made any friends so I will sot at home with my dog and have a couple of beers. Sounds sad, i know. Lol

[surfhb]

Give us the numbers from last month.   

You listed your mint budget....this means you are being cautious about spending right?     You are budgeting half your income on food and transportation....this is wrong in so many ways. 

[Bearblastbeats]

Last month was a tough month because I brought my dog to the vet and I had a speeding ticket to pay for..
I also spent 4 days in Arkansas for a Seminar
Mint Rundown:


Income

$2,707 so far
of $2,800

    Income
    $2,708 of $2,800

Spending

$1,935 spent
of $2,393

    Home: Mortgage & Rent
    $470 of $580
    Auto & Transport: Auto Payment
    $149 of $300
    Auto & Transport: Gas & Fuel
    $181 of $250
    Food & Dining: Groceries
    $148 of $250
    Education: Student Loan
    $45 of $200
    Auto & Transport: Auto Insurance
    $123 of $171
    Food & Dining: Fast Food
    $69 of $150
    Bills & Utilities: Mobile Phone
    $105 of $110
    Food & Dining: Alcohol & Bars
    $357 of $104
    Food & Dining: Restaurants
    $199 of $100
    Pets: Pet Food & Supplies
    $57 of $100
    Auto & Transport: EZ Pass Tolls
    $30 of $60
    Entertainment: Movies & DVDs
    $8 of $18

    Everything Else
    $1,520

    Auto & Transport: Parking
    $3
    Add
    Business Services
    $102 (I DONT REMEMBER THIS)
    Add
    Entertainment: Amusement
    $40 (ONE DAY AT MELS FUN PARK)
    Add
    Entertainment: Music
    $164 (THIS NEEDS TO BE CALCULATED AS BAND RENT/ SEC DEP FOR PRACTICE ROOM)
    Add
    Fees & Charges: Bank Fee
    $3
    Add
    Fees & Charges: Finance Charge
    $1
    Add
    Food & Dining: Coffee Shops
    $321 (WHOOPS!!!)
    Add
    Food & Dining: Convienience store
    $9
    Add
    Health & Fitness: Pharmacy
    $18
    Add
    Pets: Veterinary
    $196 (VET BILL FOR MY DOG)
    Add
    Shopping
    $162 (NEW SHIRTS FOR WORK)
    Add
    Shopping: Clothing
    $194 (NEW PANTS FOR WORK)
    Add
    Transfer
    -$220 (RENT and probably something else)
    Add
    Transfer: Credit Card Payment
    $25
    Add
    Travel: Air Travel
    $51
    Add
    Uncategorized
    $300 (Speeding Ticket)
    Add
    Uncategorized: Cash & ATM
    -$48
    Add

[HopefulMustache]

What stands out to me here is the food. Compared to your budget, you fell short on groceries while going way over on restaurants and especially alcohol. And there's now a new category for coffeeshops with over $300 in it!? So your overall food spending was in the vicinity of $1000 (including bars) for a single month. That's twice your rent! It shouldn't take too much restraint to cut that in half, pay off your credit card bill in two months or less, and find yourself on much better footing.

While it may take some time to consider a move or find a new car, this can be started almost instantly. If you eat homemade breakfast and dinner, it seems like a large chunk of this must be lunches out while at work - that counts as eating out during the week, and an investment in some nice tupperware will pay off handsomely for you. Then get the bar tab down.

EDIT: By the way, if you're eating 2 meals at home most days on a grocery bill of $150, then kudos to you for already getting your at-home meal cost down to around $3, (assuming ~50 of 60 possible monthly meals) which is pretty impressive! Imagine if you got all 90 of your meals down to that rate - your $650ish non-bar food budget would become $270. You don't need to go 90 for 90, but this is what's possible and without eating any differently at home than you do now.

[Another Reader]

Managing blood sugar is he most important part of managing diabetes.  Eating regular, healthy meals that release sugar slowly is key.  Does your insurance or medical group offer any classes in managing diabetes?  If so, I would sign up for one.  Fast food and bars need to be cut way back, for both financial and health reasons.  Start taking a lunch and eating that breakfast before you leave for work.  A few healthy snacks throughout the day can be brought from home.

At 28, you should not be getting speeding tickets.  19 year-olds do stuff like that.  Those tickets will dramatically increase your insurance rates.  You can't afford that.  Can you go to traffic school to reduce the impact?

What about settling down and having a family?  Is that in your plans?  Are you taking steps to make that happen?  Bars and nightclubs might not be the best places to find the right partner.

The money problems stem from not having goals and not paying attention.  Too much impulsive spending and not enough planning.  Why not sit down and set some goals, along with the steps you will take to meet them?  Mint is a good start, you are realizing now that you are in a bit of a jam.  A budget might be helpful as well.

[Bearblastbeats]

Managing blood sugar is he most important part of managing diabetes.  Eating regular, healthy meals that release sugar slowly is key.  Does your insurance or medical group offer any classes in managing diabetes?  If so, I would sign up for one.  Fast food and bars need to be cut way back, for both financial and health reasons.  Start taking a lunch and eating that breakfast before you leave for work.  A few healthy snacks throughout the day can be brought from home.

At 28, you should not be getting speeding tickets.  19 year-olds do stuff like that.  Those tickets will dramatically increase your insurance rates.  You can't afford that.  Can you go to traffic school to reduce the impact?

What about settling down and having a family?  Is that in your plans?  Are you taking steps to make that happen?  Bars and nightclubs might not be the best places to find the right partner.

The money problems stem from not having goals and not paying attention.  Too much impulsive spending and not enough planning.  Why not sit down and set some goals, along with the steps you will take to meet them?  Mint is a good start, you are realizing now that you are in a bit of a jam.  A budget might be helpful as well.

I do manage my blood sugar, recently went to the docs for a visit as well. I just started receiving benefits but they do not cover the medications that I take.

The speeding ticket was rather dumb and the first I've received from being 22 or 23, but it happens.

Sure, one day I would like to settle down but after numerous failed attempts at love, flying solo seems to be ok right now, especially where I can just be selfish with whatever money I do have. JK

[ender]

52x625= $32,500/year takehome pay, out of $48,000?


There's no way you owe an effective tax rate of 33%. Your taxes are going to be 7%ish from FICA, 5.15% MA tax, and at most 15% federal taxes. Ignoring deductions/exemptions your effective rate is still lower than 33%, which is what is being withheld from your paycheck.

I don't understand why your taxes are so high on your paychecks.

Also work clothes for $350? What in the world did you buy? I bought 3 pairs of pants and 3 dress shirts at GoodWill for $20 total a month or so ago which all look brand new.

[surfhb]

BearBlast

I can tell you one good thing....when you start seeing your debt disappear and find your savings grow, it only builds more of a fire in you to stop the spending where its not needed.   Believe you me! 

Set some goals for yourself....keep plugging away and keep reading this blog

[Another Reader]

...I can just be selfish with whatever money I do have.

If you define selfish as spending it all on fast food and going out with your buddies, that's not a good selfish.  If you define it as consciously spending money on what will make you happy long term and keep you healthy for the rest of your life, that's a good selfish.

You might think about getting involved in something other than your music and expanding your circle of friends.  Do you have other interests and hobbies?  A long day at work with long commutes at both ends cuts into your weeknight socializing, but even taking a walk in the evening with a friend with similar interests beats sitting at home with a couple of beers.

[fb132]

I am not the biggest fan of Dave Ramsey, but there is a quote of his that I like and that is "If you're in debt, stop going out to eat! You shouldn't see the inside of a restaurant unless you're working there!" , I think that applies to you in this case. Samething for booze and all that stuff you buy. You wonder why you are in debt, we are simply pointing you out that your food section, cell phone and transportation is your biggest problem at this moment, now the question remains, what are you going to do about it? This is the time where you must do something and change your pattern, because if you simply ignore everyone's advice here, there's a big chance your situation won't change at all unless you find a higher paying job that covers all your expenses and pay off your debt at the sametime.

[Rural]

OP, you've gotten a lot of good advice here, enough that you're probably feeling overwhelmed. Let me just suggest you pick one thing from here and get it started. Just one is enough to start, and you'll see a difference in a week or so. Then add another.

[Bearblastbeats]

Thank you all again for the advice. And yes, it was a little overwhelming. Luckily for me today is pay day, my generous $624.69 Direct Deposit. Tonight is band practice and I am also looking at two apartments beforehand in Manchester. They are both 2 bedrooms in which I plan to move in with a friend of mine.


Here is today's breakdown and some descriptions for expenditures.

2 weeks rent due ($140 for this week, $140 for last week) = $280

Band Practice Room Rent = $64

Half my car payment = $148
(Account Balance (Not Payoff Amount) $7,239.28)

Half my Cell phone = $57
(Here is my plan rundown for you guys to view and see where I can trim the fat....
Anytime Minutes = 171 / Unlimited
Text = 2,490 / Unlimited
Sprint 3G/4G Data = 4,419,108KB / Unlimited
Sprint Data Roaming = 0KB / See Terms

Plan details
Monthly plan cost
$30.00
Unlimited Talk and Text
$30 Monthly Charge
Unlimited Anytime Minutes
Unlimited Messaging
Nationwide Long Distance Included
America - Roaming Included
Call Waiting
Three-Way Calling
Voicemail
MRC is not NVP discountable
Add-on services:
Total Equipment Protection = $11.00
Basic Data Access with Unlimited Talk & Text = $0.00
Unlimited data = $30.00
TOTAL BILL = $104.20)



Credit Cards are not due at this time. BUT here are my balances:
(1) Current Balance: $464.77
(2) Current Balance: $475.32
(3) Current Balance: $256.19



Student Loans
Loan                 Balance        Interest Rate       Payment Due     Payment Due Date
Stafford 1-01    $4,064.25       6%                   $20.23              06/12/2015
Stafford 1-02    $4,024.98       5.6%            $18.70              06/12/2015
Stafford 1-03    $1,093.54       5.6%               $5.34              06/12/2015
TOTAL            $9,182.77                               $44.27



Looks like if I pay everything that is only due this week that will leave me $30 to buy food and put gas into my tank. #yolo, right?

[Bearblastbeats]

Thank you all again for the advice. And yes, it was a little overwhelming. Luckily for me today is pay day, my generous $624.69 Direct Deposit. Tonight is band practice and I am also looking at two apartments beforehand in Manchester. They are both 2 bedrooms in which I plan to move in with a friend of mine.


Here is today's breakdown and some descriptions for expenditures.

2 weeks rent due ($140 for this week, $140 for last week) = $280

Band Practice Room Rent = $64

Half my car payment = $148
(Account Balance (Not Payoff Amount) $7,239.28)

Half my Cell phone = $57
(Here is my plan rundown for you guys to view and see where I can trim the fat....
Anytime Minutes = 171 / Unlimited
Text = 2,490 / Unlimited
Sprint 3G/4G Data = 4,419,108KB / Unlimited
Sprint Data Roaming = 0KB / See Terms

Plan details
Monthly plan cost
$30.00
Unlimited Talk and Text
$30 Monthly Charge
Unlimited Anytime Minutes
Unlimited Messaging
Nationwide Long Distance Included
America - Roaming Included
Call Waiting
Three-Way Calling
Voicemail
MRC is not NVP discountable
Add-on services:
Total Equipment Protection = $11.00
Basic Data Access with Unlimited Talk & Text = $0.00
Unlimited data = $30.00
TOTAL BILL = $104.20)



Credit Cards are not due at this time. BUT here are my balances:
(1) Current Balance: $464.77
(2) Current Balance: $475.32
(3) Current Balance: $256.19



Student Loans
Loan                 Balance        Interest Rate       Payment Due     Payment Due Date
Stafford 1-01    $4,064.25       6%                   $20.23              06/12/2015
Stafford 1-02    $4,024.98       5.6%            $18.70              06/12/2015
Stafford 1-03    $1,093.54       5.6%               $5.34              06/12/2015
TOTAL            $9,182.77                               $44.27



Looks like if I pay everything that is only due this week that will leave me $30 to buy food and put gas into my tank. #yolo, right?

[matchewed]

So what's your plan?

[Bearblastbeats]

So what's your plan?

I'll start with the student loan payment since that is due tomorrow.
I'll have to pay my landlord $200 and tack on the remainder for next week.
Still send out half my car payment and hopefully the band will let me slide this week for the rent on the room.
Pay half my cell phone and get used to eating ramen for a week.

It's going to be a dry weekend for sure hahaha.

[fb132]

So what's your plan?

I'll start with the student loan payment since that is due tomorrow.
I'll have to pay my landlord $200 and tack on the remainder for next week.
Still send out half my car payment and hopefully the band will let me slide this week for the rent on the room.
Pay half my cell phone and get used to eating ramen for a week.

It's going to be a dry weekend for sure hahaha.

But what is your long term plan, you can't live with just 30$ in your pocket each week, you won't go nowhere.

[matchewed]

So what's your plan?

I'll start with the student loan payment since that is due tomorrow.
I'll have to pay my landlord $200 and tack on the remainder for next week.
Still send out half my car payment and hopefully the band will let me slide this week for the rent on the room.
Pay half my cell phone and get used to eating ramen for a week.

It's going to be a dry weekend for sure hahaha.

But what is your long term plan, you can't live with just 30$ in your pocket each week, you won't go nowhere.

This.

No offense but I don't care what you're going to do with your money right now. You have obligations that you have to pay for. What are you going to change so that you have either less obligations or have more money after your obligations?

[Bearblastbeats]

So what's your plan?

I'll start with the student loan payment since that is due tomorrow.
I'll have to pay my landlord $200 and tack on the remainder for next week.
Still send out half my car payment and hopefully the band will let me slide this week for the rent on the room.
Pay half my cell phone and get used to eating ramen for a week.

It's going to be a dry weekend for sure hahaha.

But what is your long term plan, you can't live with just 30$ in your pocket each week, you won't go nowhere.

Well, moving and having less of a commute is top priority right now. There is no reason for me to live in the seacoast anymore.
I'll have to figure something out about the car.


I'm open for suggestions.

[matchewed]

So what's your plan?

I'll start with the student loan payment since that is due tomorrow.
I'll have to pay my landlord $200 and tack on the remainder for next week.
Still send out half my car payment and hopefully the band will let me slide this week for the rent on the room.
Pay half my cell phone and get used to eating ramen for a week.

It's going to be a dry weekend for sure hahaha.

But what is your long term plan, you can't live with just 30$ in your pocket each week, you won't go nowhere.

Well, moving and having less of a commute is top priority right now. There is no reason for me to live in the seacoast anymore.
I'll have to figure something out about the car.


I'm open for suggestions.

There have been tons of suggestions already.

[ZiziPB]

So what's your plan?

I'll start with the student loan payment since that is due tomorrow.
I'll have to pay my landlord $200 and tack on the remainder for next week.
Still send out half my car payment and hopefully the band will let me slide this week for the rent on the room.
Pay half my cell phone and get used to eating ramen for a week.

It's going to be a dry weekend for sure hahaha.

Sorry to say but this is not a plan, this is triage.  You need to come up with ways to get a handle your expenses and lower them long term.  Start with making sure your tax withholding is correct, then tackle your expenses one by one (rent, phone, insurance, car, etc.).  Make a realistic budget and stick with it.

[tomk2]

I have some ideas about the dog:
Milk bone treats are totally unnecessary and probably way more expensive per lb than your dog food. Most dogs should get the majority of their nutrition from their dog food. Train and Treat with something cheaper - kibble, boiled chicken, whatever. Labs will eat almost anything. My dog loves bananas.
I see you just brought him to the vet, but you can significantly decrease vet expenses by negotiating vaccinations and medication. We don't board our dog, so we don't do kennel cough treatments - to my surprise, our vet actually told us not to bother. We also give heartguard year-round and opt out of heartworm tests and stool samples. We don't have the vet cut nails (they charge like $10-15 for this!) Our annual vet bill is about half of yours (but a little variable based on offset vaccine schedules). We don't buy meds at the vet. Most of the stuff can be had cheaper at pharmacies, and Costco and Walmart carry generic versions of pet medications that are half the price of brand names. If that's not feasible, you can also mail away the script to Dr Foster and Smith who are very reasonable in pricing.
Can he be put on a cheaper food? I can generally get Iams for around $0.80 per pound. Get a small bag first; it may not go well. I tried to transition my dog once and he had terrible gas.

Of course, some might suggest that a dog is a luxury/liability that you can't really afford right now, so there's that too. Labs are easily adoptable, especially if they're good with kids and other pets.

[snogirl]

Hi!  My only suggestion is to track your spending, meaning every single cent, with a small notebook every single day.
It was already mentioned here but I feel it totally connects you via pen to paper exposing the holes in the money dam.
It did for me last year in May while I was in debt emergency.
If you do this for just one or two weeks, religiously, it works.
I was horrified once I saw my discretionary spending!! 
For me it was very subtle & almost unconsciously happening on some level.
Once I had the awareness, there was no turning back.
The good news is I made healthy changes and paid off a crapload of debt in a year.
You can too!!
It works.
Best of luck to you.

[Bearblastbeats]

Hi!  My only suggestion is to track your spending, meaning every single cent, with a small notebook every single day.
It was already mentioned here but I feel it totally connects you via pen to paper exposing the holes in the money dam.
It did for me last year in May while I was in debt emergency.
If you do this for just one or two weeks, religiously, it works.
I was horrified once I saw my discretionary spending!! 
For me it was very subtle & almost unconsciously happening on some level.
Once I had the awareness, there was no turning back.
The good news is I made healthy changes and paid off a crapload of debt in a year.
You can too!!
It works.
Best of luck to you.

This is going to be what I have to do. And being more diligent about it, especially saying no to the booze.

[galliver]

What is the deal with the practice room? Looks like a major expense you're totally leaving out, if it's 64/week...

[Bearblastbeats]

What is the deal with the practice room? Looks like a major expense you're totally leaving out, if it's 64/week...

$64 a month/per person.

[lkc4863]

Hi! I'm just posting to be encouraging - it can seem impossible when you feel like you don't make enough for the suggestions here to be feasible. I'm not quite at MMM level savings, but I am around 40% and I earn $37,000 gross. 24, single, live alone (no dog though), so I think my experience is pretty relevant to you. Plus my rent is about the same as yours and I even pay a ridiculous $100+ phone bill (don't worry, Mustachians, I'm getting out of it this month!). Here's what I see:

- The car! Like everyone has said, your car is crazy expensive. Look into minimizing your insurance and moving for the sole sake of not having to pay tolls. My commute is about 7 minutes, and only buying gas once a month is amazing.
- Booze. Definitely stick with a one drink rule at bars, and don't buy drinks for other people. I like going out too, but just remember that you're there to hang out with friends, the alcohol isn't really the point. Having friends over is also a great suggestion (grocery store beer is about 1/6 the cost of bar beer, and it's the exact same thing).
- Restaurants. Don't. It sounds like you're pretty good at cooking at home already though. I spend $50-$60/month on eating out. Pretend fast food is not a thing that exists. Pack a pb&j and a banana. Coffee: I love fancy lattes and junk, but I only let myself buy one when I'm going to sit in a coffee shop for a while and enjoy it, so not when I'm driving around town. Otherwise, coffee comes from home (or work, if it's free).
- Bills. Catch up on them and then just pay them when they're due. None of this paying landlord for last week and half of this week. Just pay her for the month. It'll require a little more planning but you need to learn to manage your budget on a more long-term basis.
- It might be helpful to look into a side gig. You have plenty of money now to pay your bills, if you cut them down, but side gigs both give you things to do other than drink and bring in more money. Currently I freelance and tutor, bringing in a few hundred a month through those. Look around on Craigslist in your area and think about skills you have.
- Phone. Yes, it's ridiculous. I understand being addicted to data, as stupid as I know that is, so that's preventing me from going to Republic (I work at a bank, no wifi). Check out StraightTalk from Walmart - unlimited everything for $45/mo and you can probably use the phone you already have.
- TRACK EVERYTHING. A little notebook might be a good idea so you have to actually write it down. When you start watching $15 purchases add up, you get rid of them pretty fast.

Honestly, you make good money, you don't have dependents, and you're not even that far in the hole with debt. You'll be fine as long as you turn this around now.

[Bearblastbeats]

Hi! I'm just posting to be encouraging - it can seem impossible when you feel like you don't make enough for the suggestions here to be feasible. I'm not quite at MMM level savings, but I am around 40% and I earn $37,000 gross. 24, single, live alone (no dog though), so I think my experience is pretty relevant to you. Plus my rent is about the same as yours and I even pay a ridiculous $100+ phone bill (don't worry, Mustachians, I'm getting out of it this month!). Here's what I see:

- The car! Like everyone has said, your car is crazy expensive. Look into minimizing your insurance and moving for the sole sake of not having to pay tolls. My commute is about 7 minutes, and only buying gas once a month is amazing.
- Booze. Definitely stick with a one drink rule at bars, and don't buy drinks for other people. I like going out too, but just remember that you're there to hang out with friends, the alcohol isn't really the point. Having friends over is also a great suggestion (grocery store beer is about 1/6 the cost of bar beer, and it's the exact same thing).
- Restaurants. Don't. It sounds like you're pretty good at cooking at home already though. I spend $50-$60/month on eating out. Pretend fast food is not a thing that exists. Pack a pb&j and a banana. Coffee: I love fancy lattes and junk, but I only let myself buy one when I'm going to sit in a coffee shop for a while and enjoy it, so not when I'm driving around town. Otherwise, coffee comes from home (or work, if it's free).
- Bills. Catch up on them and then just pay them when they're due. None of this paying landlord for last week and half of this week. Just pay her for the month. It'll require a little more planning but you need to learn to manage your budget on a more long-term basis.
- It might be helpful to look into a side gig. You have plenty of money now to pay your bills, if you cut them down, but side gigs both give you things to do other than drink and bring in more money. Currently I freelance and tutor, bringing in a few hundred a month through those. Look around on Craigslist in your area and think about skills you have.
- Phone. Yes, it's ridiculous. I understand being addicted to data, as stupid as I know that is, so that's preventing me from going to Republic (I work at a bank, no wifi). Check out StraightTalk from Walmart - unlimited everything for $45/mo and you can probably use the phone you already have.
- TRACK EVERYTHING. A little notebook might be a good idea so you have to actually write it down. When you start watching $15 purchases add up, you get rid of them pretty fast.

Honestly, you make good money, you don't have dependents, and you're not even that far in the hole with debt. You'll be fine as long as you turn this around now.

Sound advice and thank you for the encouragement (and not making me feel attacked)!!!

I'll see how this weekend goes, and probably come to update this next pay cycle.

[partgypsy]

I concur with the others, that spend a month or so writing down in a little book, every time you spend money. It may really open your eyes where your money is going.
I'm not in debt but I was also each month, where did the money go? I did it, and it was both embarrassing and illuminating.

The step after that, is to question all expenses. Even the regular recurring expenses.

[KrZ]

Since you drive a lot, learn to hypermile: ecomodder.com
Save $100+ per month in gas and never get a speeding ticket again

[latetotheparty1977]

One easy thing to do is get rid of that expensive phone plan. Can you get added to a family member's plan? i didn't feel like going through the hassle of selling my pricey phone and cutting off with t-mobile to go to republic wireless or ting, so I had my mom add me to her family plan. I now pay $25 a month. Before it was $75!