I am broke. (here is the story)

[Baruch]

Six months ago I had $5,000++ plus dollars on my account. I was saving it for education and in case my crappy 80's car will break down so I'd be able buy a new one.

Well, I decided to buy a motorcycle and spent $2,900. About a month later decided to move out of my aunts house whome I was paying $450\month rent. It was quite a ripoff from her. But I didnt mind and I needed a place to stay so it worked just fine. So I moved out with a roomate whome I hardly knew and my rent came out to be about the same with all the utilities. But I had my freedom! I had my own crib and there were parties everynight.

Well, after two months my roomate decided to move out and told me that he couldnt afford it and he is going to live back with his mom. So what do I do? I beg my uncle, the only family I've left to let me live with him again.

Since breaking the contract would cost me $4,000, we decided to get kicked out. It was very easy. Beggining of December we were kicked out of the appartment. But the trouble didnt end here. The appartments still want $4,000.

Now I am with 650$ on my account, the credit agency will soon be calling me for the $4,000 and I am pretty screwed sicne I am living from paycheck to paycheck and can't even afford to buy new clothes.

I am thinking everyday of how to get me out of this mess I put myself into and its stressing me out. Thinking of and reading of business books, stocks and all sorts of other books.

Kids, be carefull with how you handle your money, who you agree to live with and how to handle your money again. I am thinking of getting a second job, but I also have school to take care off. My uncle is helpin me by not making me pay any rent, but I do buy my own food and everything else.

Biggest mistake of my life so far.

 

[Julian]

I feel you to an extent. I moved out for about 3 months on my own. I broke my lease because i couldnt afford it anymore, i was paying 635$ a month.

Luckily they had a lenient lease breaking policy, i had to pay a 1 time penalty equivalent to 1 months rent (625$). So i paid that and they let me go with no problems, thank God.

My only advice to you is to learn from your mistake, which im sure you already did.

 

[Joe The Homophobe]

Sorry to hear that Baruch. according to the red cross or the govt I forget which, one has to have money in savings for at least 6 months to 1 year of rent incase of emergencies.
if the rent is 400 where you live x 1 year = $4800 in savings for emergencies. This is money you can't touch. You shouldn't take out of it to buy clothes or any material things from it, it is only for emergency situations. Emergency money incase bad things happen, whether it be losing a job, incase you get in an accident, paying the mechanic for fixing your car that broke down, to buy food when you are out of a job and pay the rent, or if there is economic collapse etc etc.

For those that are planning to live on their own in the near future, you should definitely save up enough money that is the equivalent of 1 year of rent. Some cities are more or less expensive than others so the amount you need depends on what an average place you might move to costs. Could be $300 a month, it could be less or it could be more, find out what the average price for rent is for the kind of place you want to move to (1 room, 2 room apartment etc)

If you are dying to live on your own that you don't want to wait to save enough emergency money you are only putting yourself at risk. I personally would like to move on my own but right now im way short in the emergency money department. I rather stay with my parents till I can secure my emergency money and not have to worry about bad things happening, and not having to depend on others for help when disaster strikes.

 

[Dillinger]

Originally posted by Joe The Homophobe
Sorry to hear that Baruch. according to the red cross or the govt I forget which, one has to have money in savings for at least 6 months to 1 year of rent incase of emergencies.
if the rent is 400 where you live x 1 year = $4800 in savings for emergencies. This is money you can't touch. You shouldn't take out of it to buy clothes or any material things from it, it is only for emergency situations. Emergency money incase bad things happen, whether it be losing a job, incase you get in an accident, paying the mechanic for fixing your car that broke down, to buy food when you are out of a job and pay the rent, or if there is economic collapse etc etc.

For those that are planning to live on their own in the near future, you should definitely save up enough money that is the equivalent of 1 year of rent. Some cities are more or less expensive than others so the amount you need depends on what an average place you might move to costs. Could be $300 a month, it could be less or it could be more, find out what the average price for rent is for the kind of place you want to move to (1 room, 2 room apartment etc)

If you are dying to live on your own that you don't want to wait to save enough emergency money you are only putting yourself at risk. I personally would like to move on my own but right now im way short in the emergency money department. I rather stay with my parents till I can secure my emergency money and not have to worry about bad things happening, and not having to depend on others for help when disaster strikes.

This sh!t is gold. When I was younger I had friends who wanted to move out together. But their job situation wasn't steady, so I said NOPE!

So I waited until I found the right woman and we now live together. Don't get me wrong if you are just dating someone don't move out unless you know and trust that person.