Thursday, January 17, 2013

annual money freak out post

With the turn of the new year, the Social Security "tax hike", and the fact that my Wells Fargo loan comes out of forbearance next month, I decided to take a look at my finances. OH BOY. I make roughly $1500 a month after taxes. I pay out $1012 to all my various bills. I mean, I have enough left over to live and I'm definitely better off than some people, but ouch. Let me just break it down a littler further for you.

  • I pay $125 per month on old credit card debt, plus at least $25 on my current (low limit, credit rebuilding) credit card. 
  • I pay $256 to student loans. Thank god for Federal loans and their income-based repayment plan, because without that I would be in big trouble. Private loans give you NO wiggle room, save for forbearance, therefore it is my opinion that private lenders are the devil. 
This is a cautionary tale, kids. DON'T GET A CREDIT CARD. And if you do, make sure you have the means to pay it back every month. Also don't go to school. You'll be paying that shit back for the rest of your life. Is it really worth it? Is it?! 

I'm kidding, of course. Go to school. But be smart about it, because you're paying THOUSANDS OF DOLLARS for every year that you're there, and those thousands of dollars are racking up a thousand more dollars in interest.  

So here's to 2013, the new budget I need to make, and all those sad shoes and purses that are stuck at the store because I certainly won't be able to buy them.


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1 comment:

  1. RosamaposeJanuary 17, 2013 at 4:37 PM

    I literally write a budget out every single month and figure out what needs to go where. I pay rent + a metrocard + electricity/cable + cell phone, all those are non-negotiable. I also have CC debt that's about $400 a month (half of that is paying back my computer because my old laptop died, womp womp, and I couldn't afford a new one without financing it). I pay $300 in private loans & still have my federal in forbearance :/ PLUS groceries, at least $50 a week or so. AND I LIVE IN NYC. WHERE THERE IS SO MUCH AWESOME SHOPPING. :( commence pouting.

    Whatever, we're adults, isn't life supposed to be awesome?!?

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