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 Dear
Dr. Don,
I currently work two jobs, one full time ($11/hour) and one part time ($8/hour). I just can't get caught up on my bills. I have a rent payment of $480 a month, an auto payment of $356 per month, minimal individual coverage on health insurance ($119/month) plus cell phone, utilities and auto insurance.
The rent plus truck payment are the main things hurting me. I am a single girl who is continually running negative in her monthly spending. I need help. My credit stinks and my parents are tired of helping me. They want me to move back home again where I won't have rent or food payments. I am embarrassed to be 30 and have to live with my parents for a third time (the second time was not just money but a personal situation.)
I have tried a budget ... there
just isn't enough money. Can you help me?
-- Kara Crunch
 Dear
Kara,
I like to call it a spending plan instead of a
budget. Budgeting, like dieting, always seems
to be a chore, but planning how you spend your
money puts a positive spin on the process. That
said, take a look at Bankrate's free "Spending
plan work sheet."
You're already working two jobs, so taking a second job isn't the answer. You're going to have to focus on your priorities in spending that income. Canceling the auto insurance and/or the health coverage isn't a good move -- and canceling the auto insurance leaves you no legal way to drive the truck.
Getting out from under the truck payment, regardless of whether
it's a lease or a loan, is problematic. You still
need transportation, and breaking a lease or selling
the truck can put you in a worse spot than keeping
up with the payments. That leaves you with your
rent, cell phone, cable, and other miscellaneous
expenses.
You say your parents are sick of helping you, but they're
standing behind you, ready to let you move in
for a while. You need to decide if you're willing
to swallow your pride and move home or if you're
willing to take some drastic steps in throttling
back on your expenses.
Spending less than you make requires you to make decisions that don't paint you into a corner. A used truck, a roommate, no cell phone, no cable TV, all may seem unattractive to you but you're going to have to make some choices if you want to make your way on your own.
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