I mean we’ve never really been financially stable it seems with a father who doesn’t seem to give a shit about how he spends his money then again he was raised on a farm so I’m sure its hard for him to adopt to life here but it sure would help if he at least acted to give a fuck about us at all -_-… anyways yes Money always seems to be a problem n My Mom is always stressing about it she works so hard n we still never have enough she has these talks with Me about what I should do with My money to help them out (since everytime i have money problems I turn to her -__-) since we have lost the house already n are just waiting to get booted the fuck out but it’s so hard to really pay attention cause I can’t trust My erratically spending ass I always seem to spend like I have money go broke get money n lose it all over again n repeat… It helps Me kill the pain the loneliness, deep sadness etc etc n I feel extremely terrible knowing all I do is bring the family down I’m a terrible son I never really pitch in for food or things I should I’d rather spend it on stupid shit then feel terribly guilty for doing it… It’s even more painful when she asks what my future plans are I get so frustrated cause in My head i know i don’t have any future plans here is this loving caring mom who has done everything for Me that she could n here i am a failure son with no future plans no goals to one day be able to take care of her as she has taken care of Me… it seems the only future plans i think of everyday is how to off myself of course I think of how much more of a financial strain that would have on my dear mother with the funeral costs… you can’t even DIE FOR FREE -_-… n it’s sad how less n less I think of the mental and emotional effect that would have on My Mother who loves me so much n My family n more n more on how much of a financial strain it would have on them… I know one of these days I will have had enough n end it ALL but for now gotta hold on for Her.
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If I were in your shoes I would dissapear. Just get out of the house get out of the area you live in > go someplace far away where you would have a good chance to get buy on your own. THen you can have some space to dicover yourslef and what you want to do with your life.
You can use the internet to check out areas… jobs, living situations then when you get yourself together you can contact your family down the line. Youve got to carve out your space in this world.
Uptown kind of went a different but just as valid direction as well. Don’t feel guilted into this family situation, you need to be able to take care of yourself first before you can even think of taking care of others. It’s ok to think about yourself and your needs. If you want to get away, build up a resource. I’m a huge planner and critical thinker and I never try and put myself in a situation where I could end up homeless and depressed with no contacts. Definitely start applying for jobs but also build up a nest fund of about three grand so you won’t be screwed over either. Take advantage of the fact that you are not paying rent at the moment and start hoarding some money for an exit plan.
I think like Uptown…wait and see if a completely different life changes your feelings.It works for some people.Others not-no matter where they go they feel the same misery. I plan on doing a lot of drugs before I OD-if I decide to die,that is..
yeah once i get off probation i need to go on my own I’m tired of feeling like a burden
Whoa there, you are going through a lot of things right now and I know how stressful finances can be but there are way to work around that. The psychology behind spending money you don’t have, you pretty much nailed it on the head, we spend as a way to replace fear, sadness and insecurity. I can try and give you some advice based on what I know. Are you working part time or full time? Do you have debt? Money is very fluid and not many people understand how to utilize it. It seems like there is a lot of money mismanagement going on. First, break down any debt, then start creating a budget to plan around that debt. This may seem overwhelming so I would like to walk you through it. I was certainly overwhelmed the first time I attempted to fix my finances. I could try and walk you through IRA and 401K plans and brokerage accounts so you can better help your family. Try Mint.com as well, it’s a site that helps track budgeting and may help curb those impulse shopping habits.
that’s exactly how I’ve felt in the past Uptown but I know i would end up homeless on the streets n shit i mean it’s depressing as shit being here where i have a place to sleep n eat n shower now imagine being on the streets how depressing would that be but that is my plan i’m giving it a year and half until I get off probation n by then I’m moving to Cali no matter what whether i have money saved up or nothing cause I can’t go on living here in this state it just isn’t for Me… n Alum yeah I think i’ve had an issue with this ever since i hit depression for the first time when i was 17 before that i used to love to save it made me feel good now i feel like having it sitting there is a waist of having it since I’m so unhappy I need to spend it -_-… but yeah I have a full time right now… n yes debt I don’t even know how much to be exact a lot of hospital bills 3k on a school loan i owe 5k on a car n i owe my fam about 1k so that adds up to about 10,000 in debt -___-… I have no clue what IRA n 401K is lol but I need to get 401K through a job only right?? aaaa yes that would definitely help if you could give me some tips
Absolutely, so hospital bills can be negotiated and settled even after they are in collection, so essentially if the hospital can’t collect it is bought very very cheaply and that gives you leverage to pay 25%-50% off the full amount. They won’t always go for it however and make sure you get it in writing before paying. If it is not in collections, set up a payment plan, hospitals also usually have a charity care program as well, just be sure you can express that paying the amount would put you under financial duress with all your other financial obligations. As far as school loans go, I take it you are a recent graduate and therefore eligible for the new “pay as you go” plan that obama enacted. The beauty of this is that it is adjusted to 10% of your income and the debt is forgiven after 10 years instead of 25. This is only for federal loans however. If you have mixed, try and consolidate and get a better fixed rate if possible.
Ok now on to the actual amassing money for world domination, ahem, I mean, for financial security. You probably have a checkings and savings account right? So, think of your checking acct as “petty cash.” First thing I would do is make sure the bank you have is a high yield savings acct, banks like BoA gives you .01% back on savings… a high yield savings will have .90% return, like GE since they save by not having a brick and mortar store. Ok so when you start actually putting enough in your checkings for your monthly budget, enough in your savings for emergencies then we move on to, IRA and 401ks!
Ok so here is my quickie explanation, you have your IRA and your 401k, both can be traditional or ROTH. The difference is that traditional is not taxed until the end when you are retired and take it out, while ROTH is taxed annually. The benefit of ROTh is that you are taxed only on your net profits so it is more forgiving of fluctuations, whereas trad. you are taxed on what is your projected net for when you retire. So 401k as you know is great, because it is matched by your company. Also not many people know this but most companies offer flex spending which is untaxed money that is put aside for health related (contacts, eyeglasses etc) purchases. Now in your case, I would hold off on the 401k because you don’t want your money tied up since you want flexibility for a potential job change etc.
No i never graduated =(… n yeah i have to look into those hospital bills theyre all scattered around I’ve kinda just put em aside n forgotten about a lot of em n I know many are in collection so I need to find out where n where i owe money soon…. lmao world domination that would be nice right but no no just to survive lol… how do you get a high yield savings tho?? would you need to have great credit or where are they offered?? yeah i think i’m going to hold off on the IRA n 401Ks for now since i’m only 22 but once i find a job i plan to keep for a long time I will look into it… I’m only 22 and have already had 10 different jobs -__-… wow you are good with this stuff whats your major in school if you’re in school? does it have to do with finances??
Hmm ok so here’s the thing, if they are very old 3-6 years, it may fall into the statue of limitations depending on your state and you may be absolved from them so long as you don’t make any attempt to renew or re age your debt. If you have issuance, you can usually call and find a way to access your medical claims listing so you can see what you might be hounded down for. It’s tricky because there is always the possibility of being sued and taken to court and the credit score damage. So that’s the first step, get access to your medical claims through your insurance and start breaking it down so it’s more manageable. I actually don’t major at all in finance but I made connections to those who were financially successful and learned from them.
As for a high yield savings account, it just has to do with who you bank with, not credit. Again, any online banks, I personally love Simple banking, will yield a higher return.
issuance whats that?? i’m sure you meant insurance n nope unfortunately i don’t have any =( not yet this week i’ll be getting obamacare… oh man so if i don’t pay n ignore them they can sue Me?? aren’t they a bit sketchy tho online banks??
Yes I meant insurance, sorry sometimes I type too quickly and don’t check the spelling ^^; And yes, possibly, they can threaten to take you to court, but it’s kind of like a scare tactic to get you to pay. It’s very much like a bankruptcy hearing, so if you really don’t have the money to pay… well not much too do unless you have assets (like you car). If they haven’t contacted you yet… hmmm, you can always argue they never tried to reach out to you in good faith but there are cases where people are just ordered by the judge to pay the sum regardless. Most of the collection agencies are pretty sketchy but that doesn’t mean they won’t try every legal way to get money. Just make sure it’s not illegal or you can fight them on it. Do some research if you have the time.