Baldy

[personal rant]I don't think I'm cut out for this "adulthood" thing. My bank account is going negative for the second time in a month. I mean, I don't have a mortgage to pay, no car payment, and I still can't meet the damn bills. You know how everything seems to hit you all at once? It really sucks. If it was just me, I wouldn't give a damn. But I've got a wife and kid, so I really feel like I'm letting them down, which is like the worst feeling I could have. My wife has savings (inheritance), but I hate using it, because I have to admit to her that I went negative, and her savings don't get replenished. Her parents would give us money without hesitance, but I don't want to be like the other family members, still stuck on mommy's breast. I was raised to not ask for money (because nobody had any), and to pay back what you do borrow. And I've had classes on personal finance, and some accounting, so I feel I should know better. Like I said, I feel like I'm letting my family down. Money sucks.[/personal rant]



It helps to get it out. Anyone in the same boat? (it's nice to know you're not the only one, you know?)

WishIhadaRX7

Dude, I understand what you are saying. You are only a year older than me, and I couldn't handle all that stuff. My girlfriends sister (who just recently turned 18) is pregnant, and her mom asked me what I would do if Nicole go t pregnant, to which I replied "Cry!" I'm saving money right now, but I live with the rents, and I've got most of my school paid for through scholarships. If it wasn't for those two things I think I'd be pretty screwed.



I wish you the best of luck, but don't be afraid to take help if you really do NEED it, that's what loved ones are there for!

Baldy

good point, I just have to get used to the fact that sometimes you HAVE to borrow.



What also sucks is that we have a nice standard of living, and lots of nice things, but most of them were gifts. So I feel like I'm wealthy, but then look at my account, and feel like I'm losing. I know I'll get through it, it's just stressful, paired with sleep deprivation, makes me kinda in a perpetual bad mood.



But I figure, as long as it isn't like this all the time, like long-term debt, I should always be able to pull through.

75 Repu

Hey Baldy I feel your pain man.. I have to pay the rent and bills and buy groceries but sometimes the bank account just ain't looking good.. I have been overdrawn a few times, and it is the nastiest feeling, I don;t have a wife or a kid, but I do need to buy food for my mom, and get her things, and I do feel the same way.. Like if I am letting her down.. But remember that sometimes, it will be cheaper to borrow because you will avoid any charges or late fees and things of that nature for not being able to make the payment.. Heck if it comes to it.. let us know on the forum, sometimes we can help..

Nemesis

In the past two years, I went from making $250,000 per year to $36,000. With the tech market continuing to burn in hell, I'm not sure when or how I will be able to make my way back in. It's been very stressful, I've lost a girlfriend of three years indirectly because of it. Not to mention lots of hair.



I've had to step back and take account for what is and what isn't important. I was carrying mortgages on two homes and loans on two expensive cars. Some credit car debt, etc., etc... I've had to liquidate everything, except for one of my homes which is an income producing rental property, and severely change my standard of living.



The process of re-evaluating your lifestyle, or standard of living is a tough one. I have freed myself of all debt except for the mortgage on my remaining home and my current expenses are very low. I still noticed my account balances were very low close to payday every other week.



I then had to start tracking what I was spending my money on outside of my base expenses. The killers are lunchs (eating out daily), gas, entertainment, and food. I had no idea how much I was accutally spending in these areas until I focused on tracking my daily expenses. I used MS Money to assist me.



While I'm still not making a killing, I am now debt free, outright own both of my 7's, and I am able to put some money awway every month.



My appologies if I rambled on, I guess my point to you is: Track your expenses down to the penny for a month or two, figure out where you are spending your money. Then decide what is and isnt important. Set up and stick to a budget from there. Good luck!

knonfs

I feel your pain, since I have been living the real world for the past 2 years or so. What can I say?, except that it sucks!. It really makes me think, why in the hell I wasn't a worm study nerd, who always wanted to be a surgeon or something.



On any case, the way that I am working things out is by dividing my expenses into two lists. The first list gets paid on the 15's right away, and the second list gets paid the 30's. On top of that, I take half of my monthly rent on the 15's and the other half on the 30's.



-Going out (eating out, theater, etc) is pretty much a no-no for me and my wife!

-Shopping spress are a no-no

-If there is not enough money in a certain month, then the cable gets 1/2% of the bill or sometimes nothing at all, untill the following month!



Again, I know how you feel!

phinsup

I guess this covers your post a little.



https://www.nopistons.com/forums/index.php?...t=0#entry295650

j9fd3s

yah, i feel your pain baldy, its very hard to make the number in the bank account go up. as for the family thing? i totally am not ready for that kinda responsibility



mike

Baldy

Thanks for the lesson, Nemesis. I'm sure there are many people who could learn a lot from you. I have learned a lot about finances, but I need to put them to use.



And WTF is with this? lol

Baldy

And thanks everyone, it's nice to know everyone's in the same boat here. It seems as if I'm joining normal society now, lol.