Getting into it

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    • #253851

      Hi Michele,

      It’s great that you’ve recognized that you have an

      issue. Now comes time to be committed to getting out

      of the mess!

      It would be very helpful if you could provide a list

      of your income and expenses, so that the group here

      can provide you with as much feedback as possible.

      There are a lot of people here who have been there,

      done that and can give great advice.

      Good luck!


      — sbjmom2002 <> wrote:

      > Hi All,


      > My name is Michele. I am a single full time working

      > mom. For many

      > years I have lived well beyond my means. Then

      > recently I woke up to

      > find out just how broke I am. (I still almost get a

      > panic attack

      > thinking about it) I am trying to live on a budget

      > now. But it only

      > makes me remember how I got into this trouble in the

      > first place. I

      > don’t make enough. I have trouble covering basic

      > needs. I know that

      > I am just starting and I will work out the kinks

      > soon. But my budget

      > will still be so tight that I am not working on

      > paying down my debt.

      > I am going to apply for foodstamps and a medicalcard

      > for my kids(

      > for at least for the next year) If I am able to get

      > aid that will

      > give me about $300.00 a month more. Then in July I

      > could drop the

      > kids off my insurance at work and that would be

      > $200.00 more. I am

      > also going to change my car insurance company I am

      > hoping to save

      > about $75.00 a month with that. What I am unsure

      > about is life

      > insurance, retirment, and taxes.


      > I have life insurance come out of my paycheck for me

      > and my kids I

      > only pay about $15.00 a month and my retirment I

      > only pay about

      > $20.00 is it really worth stopping this for $35 more

      > a month?


      > My tax allowance is marked for 4 should I take that

      > down to 1 or 0

      > to get more on my check and less on my taxes? And

      > should I get EIC

      > advanced on my check or wait until tax time? My

      > guess is that I

      > would be about $100.00 a month for doing this.


      > All together I could have about $700.00 a month more

      > (if all works

      > out) Of this $200 would cover gaps in my budget and

      > $500.00 would go

      > to pay down debt (about $25,000)


      > I am sorry that this turned out to be such a long

      > email. Sometimes I

      > wish I had a personal finance advisor to help me

      > learn the right

      > thing to do.




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