Author Topic: Case Study: Low income noob needs direction  (Read 16555 times)

Tenormadness

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Re: Case Study: Low income noob needs direction
« Reply #50 on: April 04, 2015, 08:36:41 PM »
So my credit score is too low to qualify for any 0% balance transfer cards. Oh well.

Paul der Krake

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Re: Case Study: Low income noob needs direction
« Reply #51 on: April 05, 2015, 07:01:56 AM »
So my credit score is too low to qualify for any 0% balance transfer cards. Oh well.
It's okay, your credit card balances aren't that high. And you may qualify for one in the not so distant future if ou keep current on your payments. Keep at it and don't despair.

Tenormadness

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Re: Case Study: Low income noob needs direction
« Reply #52 on: April 17, 2015, 10:09:40 PM »
Is it more common to update these threads or start a journal?

Halfway into April and I'm doing okay. I sold a video card I wasn't using for $200, and am trying to get rid of more stuff. Still having issues with fast food and going out though. Most of it is social situations. I met up with an old college friend earlier this week, and have another friend's bachelor's party coming up. It doesn't help that my roommate is a total enabler lol.

The job situation is getting interesting. A manager position opened up at another store, and my boss encouraged me to apply. It would get me an extra 3k a year, but last I heard someone else was transferring to fill the position. The state legislature is also looking at a bill to privatize us entirely. So much for government job stability! A local brewery is hiring, but my availability might be an issue. Of course if all the state stores shut down, I can work whenever! So there are lots of things up in the air right now.

As for this new income, some of it is going towards new brakes. Then I have about $250 left on my phone before I can jump ship. I'll be able to make a bigger dent in the credit card debt next month, once these expenses are taken care of.
« Last Edit: April 18, 2015, 10:28:47 AM by Tenormadness »

Tenormadness

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Re: Case Study: Low income noob needs direction
« Reply #53 on: April 18, 2015, 10:28:03 AM »
Well disregard anything I said about that $200 from the video card. The dude wanted his money back.

Rewdoalb

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Re: Case Study: Low income noob needs direction
« Reply #54 on: April 18, 2015, 08:48:08 PM »
It's tough to sacrifice.  It's tough to delay gratification.  But the character that you'll build from changing your habits, can make a lifelong difference...in so many ways.

It might sound overwhelming but it's definitely possible to change your entire framework of thinking about personal finance...and it seems like you are on the right track already. 

BTW, when my income was under 2k/month (first year out of college), I did eat PBJ for lunch every single day.  Now, 2 years later, I still avoid fast food unless I'm traveling for work.  Try it!  Sometimes you won't even think about it.  Sometimes you'll want to barf just thinking about PBJ.  But that process rewires your brain.  Heck, try fasting (only water) for 24 hours, and then for 48 hours.  THAT'LL rewire your brain. 

Keep it up man, and knock those CC vermin out ASAP....it'll be a breath of fresh air.

Singularity

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Re: Case Study: Low income noob needs direction
« Reply #55 on: April 20, 2015, 08:43:27 PM »
Well disregard anything I said about that $200 from the video card. The dude wanted his money back.

I had an issue like that.  Test the video card with FurMark and/or 3DMark.  Worst case do a warranty replacement (you might make more as a sealed warranty replaced card).  Document it with pictures and try to sell at tech forums: anandtech/.../ebay/craigslist.
Anandtech you will find knowledgeable people that will not give you bull.  Make sure you take plenty of pictures.

Of course the next generation of cards are coming sometime this summer so you want to get it sold before it drops further in value. (June/July)

Keep up the good work. PB&J for lunch is really inexpensive and oatmeal for breakfast is really cheap.

« Last Edit: April 21, 2015, 04:09:54 PM by Singularity »

nereo

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Re: Case Study: Low income noob needs direction
« Reply #56 on: April 21, 2015, 07:01:25 AM »
Is it more common to update these threads or start a journal?  Halfway into April and I'm doing okay.
Starting a journal is a good way of keeping yourself on track and it gives you an easy way of looking back to see where you were 6, 12, 24 months ago.  But keep updating this thread whenever you need more input or support.

Quote
The job situation is getting interesting. A manager position opened up at another store, and my boss encouraged me to apply. It would get me an extra 3k a year, but last I heard someone else was transferring to fill the position. The state legislature is also looking at a bill to privatize us entirely. So much for government job stability! A local brewery is hiring, but my availability might be an issue. Of course if all the state stores shut down, I can work whenever! So there are lots of things up in the air right now.

Job advancement coupled with continued frugality is your best bet out of this debt trap.  Just keep being the best employee you can be, and an opportunity will eventually come your way.  I wouldn't worry too much about changes in state laws - it's beyond your 'circle of influence' so worrying about it does very little, and so much of what's reported just winds up being political hot air.  And who knows - if privatization happens there will be hundreds of jobs opening up in the private market; being a former state employee with good recommendations and a great work ethic can only help you.

keep on working at it.  It may seem a tall mountain to climb right now but trust me, the view from the slopes are worth it ;-)
« Last Edit: April 21, 2015, 07:38:44 AM by nereo »

HenryDavid

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Re: Case Study: Low income noob needs direction
« Reply #57 on: April 21, 2015, 07:10:25 AM »
You can get this done.
Just make sure each month is better than the previous one.
A slip-up once in a while doesn't need to derail the train.
New habits do set in, and each new habit makes life easier and more rewarding.
One. Month. At. A. Time.