Getting out of debt

[Baruch]

So this is my issue. I'd like to see if anyone had been in previous debt over the years and how you managed to get out of it and if you can throw any suggestions in.

Over the last few years I accumulated a debt of $11,000. How you ask?

I'll tell you, its pure bad mathematics. I spent more than I earned. I am an impulsive spender, which means if I can buy something I want, I'll go buy it and if I can't I won't. However, that does not mean I should buy it. Ok, sounds like a brain fcuk.

I'd make $1600 and spend all of it plus credit card. I'd buy expensive stuff cause I wanted it, but I would not take into consideration if I should buy so I can plan for the future.

I moved in back with my family to help me get out of debt. I got a new job now, make 32k a year and I am looking for a night job because all of my paycheck from my first job is going to be applied to my debt. Thats around $2000 a month. I can live in the house for the next 5 months. That would cover about 10k if no other expenses will pop up (health, car, speeding tickets etc...)

Its hard to find an evening job that will take me since I get off work at 6pm I need that job for my personal expenses such as gas, phone, gym membership,etc...Most waiting positions start earlier, even a pizza delivery job starts early. I am looking for an extra income right now.


Do you have any ideas on how to manage better my money? I am an impulsive spender, huge procrastinator when it comes to reviewing my bills. What kinda part time job can I also get after my hours so I can squeeze about 20 extra hours a week?

 

[Sun Tzu]

Look up Mary Hunt on Amazon. I know several people who got out of debt by using her simple techniques. She does talk about God here & there (something I don't mind at all), but as you will see by her reviews most non-religious people are easily able to overlook that.

 

[g g g unit]

i got some get out of debt podcasts pm me if you want me to email them to you.

 

[azanon]

I'd recommend (for you) Dave Ramsey: http://www.daveramsey.com/
Get a copy of the latest "Total Money Makeover", and I think that should get you off to a great start on getting out of debt and learning some basic and effective financial management techniques. Dave's great for beginners, especially those with debt issues.

 

[Skel]

I'm in your situation Baruch. Not oly do I have a 7k dollar credit card debt, but I owe 12k on my car and I have a mortgage to pay. If you include food, and all the other expenses that come with living vs the how much I make a year then you will see I owe more than I make.

Here is what I am doing.

1) I got a part time job. Im working 70 hours a week. 30 hours part time and 40 regular. It sucks but its something I have to do

2) my car will be paid off in 2 years. I cant wait! Not only will I not have car payments but I will switch my insurance. Right now by contract it has to be fully covered. I will still have coverage on it but it wont be as expensive as it is now.

3)The biggest thing I did besides get another income was find a third income. I now sell **** on ebay. I dont make much but everything helps. I hit tag sales and consignment stores and basically buy low/sell high.

4)Another big thing I do is spend money more wisely. I could go into how I actually cook food now instead of eat out, or dont drive 100mph on the highway to save gas, dont sleep at night with the central air on, or go out drinking every other night but I wont because its simple. Stop spending money and start saving money. Its going to be a while before I am out of debt but im positively moving forward and its a good feeling.