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Hi

January 24th, 2008 at 06:25 am

Hi my name is Gus I am 18 years old. I get paid 7.95 per hour working ruffly 30 hours a week! I was wondering I right now only have this many bills:
Insurance: $50.00 a month (DONT HAVE A CAR)
Phone: $40.00 a month
Piano: $40.00 a month

Now I have one credit card:
Capital One, I have a credit limit of $300.00 but the problem is I have a it fully maxed out and I dont now what to do. But that is not the reason I got this blog. I am wanting to save so bad but I cant! Money just seem to slip out of my hands and I dont knoiw why but i guess its me. But I need help! I want to start saveing but I have no clue how!

Posted in Uncategorized | 8 Comments »

8 Responses to “Hi”

  1. dardhel Says:
    January 24th, 2008 at 11:15 am 1201173312
    1201173312

    Glad you are getting worried early. If you get everything figured out at this stage of the game it will make things much easier down the road. It looks like you are making just under $1k a month without subtracting taxes and deductions.

    I would take a month and write down every dollar that you spend whether its $0.50 for a soda at a vending machine or whatever. If you are diligent and honest with yourself you can quickly see what is eating up your money.

    After that create a budget and stick to it.

  2. Ralph Says:
    January 24th, 2008 at 11:18 am 1201173488
    1201173488

    Welcome Gus, and congrats on coming here so soon! I agree with dardhel, that if you start watching your spending you should be able to get it paid off. Are you a high school student? If not, can you find full time work?

  3. denisentexas Says:
    January 24th, 2008 at 12:15 pm 1201176905
    1201176905

    I agree that writing down every penny you spend for a month will help you get a handle on things. You'll see where the money is going and if you're like most of us you'll be shocked and dismayed! It's definitely an eye opener. Your debt load is very small right now but you need to get it paid off and NOT use that card again! My 24 year old son did that when he was 22 and it stopped the money leaks almost immediately. For awhile, anyway!

    So keep track of every cent you spend for a month or two and you'll be able to pay that cc off soon!

  4. Nic Says:
    January 24th, 2008 at 02:44 pm 1201185897
    1201185897

    Welcome Gus. What kind of insurance are you paying?

    Phone...is it a cell or a landline? Can you get a cheaper phone plan if you aren't in a contract?Shop around,even if it's a "throwaway" cell.

    Piano...is it for the acual instrument or lessons?

    Credit card... if you can't pay it off right now pay as much as you can each month and TRY not to charge anymore.

    Stick around, there are a LOT of helpful money savvy folks here.

  5. Broken Arrow Says:
    January 24th, 2008 at 03:47 pm 1201189641
    1201189641

    Welcome Gus. I must say, this is rather surreal.

  6. JanH Says:
    January 24th, 2008 at 10:46 pm 1201214818
    1201214818

    Welcome!

  7. scfr Says:
    January 25th, 2008 at 03:40 am 1201232449
    1201232449

    Welcome! It may be hard for you to believe right now, but you CAN save. Stick around and do some reading, and I'll bet you'll come up with some great ideas.

  8. PauletteGoddard Says:
    January 25th, 2008 at 05:06 am 1201237562
    1201237562

    Welcome, Gus! Good for you for posting a homestake here.

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