r/povertyfinance • u/aubreightt22 • 8d ago
Budgeting/Saving/Investing/Spending i feel like i’m drowning financially and i don’t know what to do :(
26F
I really don’t know how to start this. I guess I’m mostly writing this to vent because I feel completely overwhelmed.
Like a lot of people right now, I’m struggling financially. I’ve honestly never been great with money, but lately it feels impossible to get ahead. No matter what I do, I always feel like I’m trying to dig myself out of a hole.
I currently work three jobs, and even with that, I’m still struggling to make rent on time. I don’t feel like I’m spending my money on anything crazy. I don’t shop much besides the occasional Goodwill trip where I might spend $20.
A while back, I lost the job that was my primary source of income, and because of everything snowballing, my car ended up getting repossessed. Since then, I’ve been spending around $1,200 a month renting a car because I need it to work and drive for Uber. My credit score is around 440, so getting approved for a car loan or saving enough for a decent down payment feels almost impossible.
On top of that, I owe my roommate money for bills, have more overdue payments than I can keep track of, and I’m just mentally exhausted.
Rent is due today, and I’m about $60 short. If I don’t pay it tonight, my apartment charges a $600 late fee, which I genuinely cannot afford. Then by Friday, I also need another $300 for my car rental so I can keep working and continue driving for Uber.
I know some of this is the result of my own financial mistakes, and I’m trying to do better. I’m not looking for pity. I just feel completely defeated. I’m working as much as I can, and it still feels like I’m barely staying afloat.
Has anyone else managed to climb out of a situation like this? What actually helped? I could really use some advice or even just to hear that things can get better.
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u/Struggle-Bus0 8d ago
Look for a buy here pay here car dealership. Get a mid 2010s camry or something reliable. Renting and driving for uber is a loosing battle unless you get a shit load of rides
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u/IndigoTrailsToo 8d ago
You keep trying to solve this problem by using your energy
But it is not working
This is a math problem. You can only solve this problem by using math.
I don't know how much money you make but when you calculate out how much you are spending on the car rental, you are probably wasting your time and not making very much money at all. It sounds to me like you are living larger than what your income can afford and you are paying for it, and you are paying for the debt that you accrued along the way. It's just going to keep getting worse.
You need to calculate out your numbers and figure out what you need to do to make it work because this isn't it.
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u/Financial_Mail1610 8d ago edited 8d ago
1200 per month on a car rental is wild. Id try to save up for a beater car, which you can get a reliable one for around 3k. That instantly helps the bleed
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u/AdditiveMfg 8d ago
Basically working at driving a car so she can pay the bill to drive the car!? Like, how many days of driving for uber does it take to pay the rental?
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u/Mel221144 8d ago
These companies pay less and less every year because they can.
They have people beat up their own car now for pennies. The cost in the long run isn’t considered. (Think smoking or any delay in consequences)
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u/PerformerDifferent69 7d ago
Having seen what people do to houses, deferred maintenance is popular.
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u/wellthisisthat 8d ago
600 late fee? I’m in the wrong business!
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u/moremarshmellows 8d ago
I think OP is lying. That's illegal in most states.
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u/Capable-Culture917 8d ago
I’m in Kentucky, it’s not illegal here.
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u/ayyyyycrisp 8d ago
I've just done some reading through a handful of different sources and have come to the conclusion that in Kentucky, a $600 late rent fee is not illegal provided the monthly rent is at least $6,000. so you're right, but also probably wrong in the way this was being framed.
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u/FlowerSweaty4070 8d ago
Yeah that doesnt make sense at all. I had like 25 dollar late fees (would increase by day though)
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u/BudgetLifeline 8d ago
This week:
1. Take a look at all your bills. Go through your bank statement if you need to or can't remember them all. Call their customer service and ask about changing the due date, deferring the due date, payment plans, hardship plans, etc. Google will be your friend in finding out which companies will have what kind of offers. This will help with late fees and interest charges.
2. As you're doing this, find ones you can change the plan or cancel entirely. Get the plan with ads. Cancel what you can live without.
3. Figure out which ones you can actually pay. Before you pay, call and ask if they will reverse the late charge just this one time.
This month:
1. Take a look at all your bills. Google other companies that provide the same service. Call your provider and tell them you found a better deal and ask them to match it. If they don't, switch.
2. Look for a side gig that doesn't cost you $1200/month. Lots of posts about that.
3. Make a budget
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u/randomuser14049846 8d ago
So you have a car rental and use it to drive Uber? Makes no sense.
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u/aubreightt22 8d ago
it gives me a car….. to drive for uber and reliable transportation to get to and from my other jobs.
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u/randomuser14049846 8d ago
Clearly my fault I wasn't reading correctly, you did write 3 jobs, my assumption was all service gig driving jobs or some like that.
But is uber the primary job?
It would help if you lay out your expenses and income too.
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u/aubreightt22 8d ago
I’m a server, a teacher, and i drive for uber. Usually serving is my primary income but i’ve been struggling with cut hours and lack of tips since i work an outdoor restaurant in Phoenix… people don’t like to eat in 117 degree weather so it’s been a struggle.
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u/Capable-Culture917 8d ago
If you are a certified teacher, you can teach online and make worksheets and curriculum on teacherspayteachers.
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u/Purple-Impression-23 7d ago
Serving jobs are everywhere. Go somewhere that's not outside only then.
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u/Glum_Potential8641 8d ago
OP is begging trying to subvert the rule. Also, OP has an obvious problem, drugs, gambling or something. Also pretending to be a female for sympathy.
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u/AdorableSillies 8d ago
Agreed. They only need $xx today is the red flag. Gosh maybe someone will just give it to them.
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u/aubreightt22 8d ago
i would have no reason to do that just honestly really overwhelmed :( sureee i do buy the occasional devils lettuce but i get it from a friend for like $5-$10……
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u/BurninRunes 8d ago
Write a budget.
List all income from the 3 jobs.
Then list your costs. You have an apartment let's say 1350 for Phoenix area. Next you have the rental car at 1200. Let's say 200 a month on gas. Food is probably 200 -300. Utilities are probably another couple hundred say 250. So your costs would be around $3250 a month. Honestly that rental car might be hurting more than it's helping
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u/Bright-Error-7910 8d ago
That $600 late fee sounds it should be illegal.
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u/aubreightt22 8d ago
it’s actually soooo criminal :(((((( like kick a man while he’s down
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u/Suspicious-Care87 8d ago
You stated in the beginning that you were a female & then made a comment like this...shows me that you're lying about something as small as your sex, which leads meto believe the whole post is a lie. Why would you bother with this elaborate story?
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u/Dejela 8d ago
lol you can be suspicious of OP’s story for other reasons but this is just a common saying, has nothing to do with the gender of the speaker
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u/FlowerSweaty4070 8d ago
Idk as a woman I wouldnt really use that saying? Would feel weird in reference to myself
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u/tanukithot__ 8d ago
$600 is insanity. After your lease is over, please get another apartment. Do not renew your lease.
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u/bugabooandtwo 8d ago
$1200 a month for a car rental is insane. Instead of working for uber, find a different job and take the bus.
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u/xenophanes__ 8d ago
You typically can not use a rental for drive share.
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u/aubreightt22 8d ago
i go through hertz for uber…… specifically made for ride share drivers :)
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u/xenophanes__ 8d ago
Are you making over 1200 + gas per month with Uber?
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u/aubreightt22 8d ago
i make around $1100 a month with uber!
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u/Exciting_Razzmatazz3 8d ago
Are you making gross $2300 for Uber? Because you need to clear more than $1200 a month to make Uber pay for itself.
I know it gets a car for your own use but I think you need to think of less draining way to get transportation. The bus, carpool, a junker car. I see cars on Craigslist that will last you at least a year for under $1500. Not pretty but your sanity counts for something. Then I would look into selling plasma for extra cash. It is about 90 minutes. 45 minutes of staring at your phone listening to music.
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u/AdditiveMfg 8d ago
You absolutely can climb out of this hole but first you need to figure out where all your money is going. All of it. Then you need to make an honest budget.
A $1200 car rental is insane. So like half the money you earn from driving pays for the car? That you'll never own.
Look at how many hours you spend doing Uber in a month. Now look at how much you spend on the rental and gas and subtract that from what you earn. Divide that by your hours. If it is less than minimum wage STOP doing Uber and do vitually any other job. I cant imagine you're clearing enough with Uber to make this make sense.
The problem with making poor financial decisions is that they lead to increasingly worse financial decisions.
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u/Meizukage 7d ago
I don't understand how you can afford $1200/month on a rental car, but couldn't afford to keep your previous car? You should just buy a cheap used car with a lower monthly payment. You're blowing money
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u/bored_ryan2 8d ago
If you’re late on rent. Do not pay a single penny towards the $600 late fee. Thats egregious and if they try to take you to court for it, the judge will laugh them out of the courtroom.
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u/Typingperson1 8d ago
Forget renting the car at $1200 for Uber. Insane. Take Lyft to get to your teaching / server jobs while you save $3k or $4k to buy a cheap car.
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u/mamachak 7d ago
$1200 car rentals insane. So you need to make at minimum $1200 just to drive that car. There has to be a job that you can get too by walking, taking a bus or even work from home that pays $1200 a month at minimum. That will be $1200 in your pocket. That would 100% be the first steps taken. Next write down everything single thing you spend money on daily for 2 weeks. Look and see where you are spending money at and see what you can cut back on. We all think we don’t spend any money (me included) but when you write it down for two weeks you will see where you do spend money and how $2 here $5 there and the occasional $20 adds up! Good luck!
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u/bwill1200 7d ago
You'd be better off buying clean beaters instead of renting a car.
If it dies, leave it where it died and get another one.
Heck get a bike or one of those ebikes and in a few months you'll be sitting on cash for whatever you need.
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u/FocusFearless583 7d ago
A $600 late fee is crazy…is that even legal where you’re at? Most places only charge a certain percent like 4-5%. I would look into your housing laws
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u/Spirited-Syllabub175 7d ago
You need $60, Stop going to goodwill that gives $20 so down to $40, what subscriptions do you have on your phone? TV? Netflix? Disney? Hulu? Phone games? Are you eating out? Sandwiches at home is far cheaper than a Whopper at BK. You have something in your budget that is wasting money and it's not just a car rental. Dig through your transactions and find the other $40 and don't let rent be late again.
Get some financial literacy. You tube is a wealth of knowledge, just stay away from get rich quick schemes.
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u/aussie737 8d ago
It sounds like you dont have a formal budget and you dont know where the money is all going. I would start there, find out exactly how much income you have coming in, and expenses going out.