#FinancialHardship #DebtAdvice #BudgetHelp #FinancialStress
Understanding the Situation
If you’re feeling overwhelmed by financial struggles like debt, unpaid bills, and insufficient income, you’re not alone. Many people face similar challenges, and it’s essential to reach out for help and advice to improve your situation.
The Financial Crisis
Being a recently separated military member with a family to support can be incredibly challenging. With a daughter needing special care and developmental delays, along with a job in construction that doesn’t cover all expenses, you may feel like you’re drowning in financial worries.
The Numbers Don’t Lie
The breakdown of your expenses reveals the extent of your financial burden. Rent, utilities, bills, loan payments, and other obligations quickly add up, leaving you struggling to make ends meet. Despite working hard, it’s still difficult to stay afloat.
Seeking Solutions
It’s commendable that you’re committed to finding a way out of this difficult situation. Budgeting, side hustles, and considering additional jobs are all steps in the right direction. However, it’s essential to address the root causes of your financial distress to create a sustainable solution.
A Path to Financial Recovery
Creating a detailed budget breakdown and prioritizing payments can help you regain control over your finances. Negotiating bills, seeking assistance, and exploring ways to increase income are crucial steps to improve your financial stability.
Advice for Moving Forward
By following a structured monthly payment plan, focusing on past due amounts, and reducing discretionary spending, you can start paving the way towards financial recovery. It’s important to stay determined and seek support when needed to overcome these challenges.
In conclusion, facing financial hardship is not easy, but with a clear plan, determination, and a willingness to make necessary changes, you can overcome this situation. Remember, reaching out for help and advice is the first step towards a brighter financial future. Stay strong and keep moving forward.
Tough times. Donating plasma, asking your wife to find any job (not just a remote WFH one) is a good start. Recommend you talk to your attorney about, for either chapter 7 or 13. Both of you need to vacate the apartment and go stay with relatives or friends.
Not all food assistance options require income verification, try looking into local food pantries to at least help with your groceries!
https://www.findhelp.org/food/food-pantry–las-vegas-nv?cursor=0&clearedfilter=1
>My car loan stands at $36,700, originally $47,72
>Car loan payment: $840
Yikes.
Sell/trade in that car or something and get a more modest and reliable vehicle. How much you took out as a loan, and your current monthly payment is quite batshit crazy. I mean real, real, fucking crazy.
What kind of car is it?
What is the situation in getting help for her developmental delays? I know it is summer now but is she just out for the summer? Too young for school? It seems like getting help for her problems would be the best solution for helping this situation so your wife can go to work again. If it’s a cost thing, can she get medicaid or something?
Edit: Also if her delay are the result of something qualifying as disability she may be able to get SSI. Your wife should look into that.
The car’s gotta go, that’s insane. I’m about to purchase a car, I saved and will be putting down $15k, taking out a 5k loan for 5.5% and monthly payment will be $111 on an accelerated repayment plan.
It’s not a crazy car, it’s a Mitsubishi, but I can’t afford anything better. And you can’t either really lol
Yes, sell your car if you can. Reach out to your church or parish to see if they can assist, too. But chapter 13 or 7 may be the way to go.
How old is your child? Is she young enough that it would be comfortable to downgrade to a 1 bedroom? That will not solve all the issues, but may help make a dent in the budget. When can she attend free or low cost public school? Public schools cannot deny a child no matter how severe their needs are. As soon as she is eligible, get her into that full time so your wife can get a daytime job outside of the home. For now, I strongly suggest your wife looking into waiting tables, babysitting, or something like that. Service worker positions are always hiring. She can take on shifts on nights and weekends when you are home to care for your child. You also should think about selling your car and getting a beater since you aren’t getting insurance anyway. Also, please look into Early Intervention services for your child. According to Nevada’s site, “Services cannot be denied due to a family’s inability to pay for them.” [Link](https://ndalc.org/issues/early-intervention/#:~:text=Children%20from%20birth%20–%203yrs%20old,Cognitive%20development%20(learning))
Sell your car and get a cheaper one. Your car payments are too way.
Your phone bill is too high. Check out Mint mobile or Cricket.
Have your wife do DoorDash or instacart or get a part time job from home
Your daughter may qualify for some aid in her care
Your wife needs to work while you are home taking care of the kids.
You have a car that is illegal to drive that you are paying $840/month for. Sell the car.
You can get that cell phone bill down to 30 bucks.Â
Mint mobile.Â
Both your Internet and phone bills seem high. I honestly think you can have both of those. That’s another $200/month at your disposal.
How the hell does your internet cost $197 a month when they have $40 a month prepaid high speed internet plans that even include the cable modem?
Also ditch whoever your mobile carrier is and put yourself on the Mint Mobile plan for $20 a month per line. You can easily cut that bill by over 60% while hardly trying.
Hey, man… not sure if you have looked into this… but, have you filed for VA Disability Compensation for Service Connected Disabilities you may have experienced while in the service? Getting a VA disability percentage could be life changing for you. It certainly is for me and my family sitting at 100% P&T
* Internet: $197
* Phone: $261
That’s a *lot*. Shop both of those around – check with other ISPs and see what they charge per month. See if you can cut it by 30% or more. Get out of your current phone contract and get cheap Tracphones or something from Walmart, and use Mint or Straight Talk for a cheap phone plan. You can potentially save $200 or more per month right there. Take a look at the food budget, too. Rice and beans a couple of times a week will save you a lot.
Make sure anything you’re saving either goes to paying off that credit card, or emergency savings. Good luck, bro!
Reenlist. Use base housing. Your wife needs to work nights when you get home. You need to get rid of that vehicle and trade it in. There is no magic bullet.
You need to have car insurance. It’s not an option. Your car is financed. It’s likely a term for the loan that you must have car insurance. If anything happens to your car, you’ll be out a car but still owe the $36k. Plus, you’ll owe for whatever you did to the other persons property
I think the first thing I would do is sell the car for what is owed—maybe a bit more & get a car with a lower payment.
Not everyone likes Dave Ramsey, but he has some good advice for getting out of credit card debt.
>Internet: $197
For just internet and not cable? This is too much. Find a cheaper service.
>Phone: $261
Per month? Find a cheaper plan.
>Car loan payment: $840
Sell the car. Get something you can afford.
yikes bad but doable. You will need to focus on paying off your debt. you’re credit is F. but you need to get rid of that credit card debt ASAP. call up them or negotiate with them to reduce your payment down. there are some videos on YT for that.
So in short. get rid of your credit card debt. don’t declare bankruptcy. use your extra 1000 to pay that down.
then in an another account. put some money aside for emergery fund 2-3 months. and rest can be paying off your debt.
You’re doing compare to most people. 72k a year is pretty good. You just need eliminated your debt is all
A non profit credit counselor like NFCC can get your interest rates cut on those cards so you can get out quickly. Set up a free consult with them.
Your internet and phone bills are absolutely stupid. You need to remedy that mess ASAP.
The car is even worse. You need to get rid of it yesterday.
One thing you might do on this post that could help the advice you get is post your net income. $6,000 isn’t an accurate representation of what you get paid every month, and the $350 wouldn’t count as a monthly expense if it’s something that’s deducted from your paycheck.