Question

URGENT & DESPERATE FOR PERSONAL FINANCIAL GUIDANCE  (long post) I’m 39 years old. Single mom with 1-teenager graduating in May and my 20-year old in college. I, too, am also in college. Roughly 6-months ago, I took a $7, 500 pay cut from a global to a local position for stability, also to finish school. My mortgage has gone up almost $100/month due to escrow shortage - taxes and insurance, my son is in his senior year, I have debt everywhere I turn and literally feel like I’m drowning! I have $1000 emergency fund saved, I attended Financial Peace University at my church, however, I can’t make money appear from nothing. I don’t know what to pay off first. I’m struggling with putting a budget together and want to talk to a professional, but the charge is a couple of hundred dollars that I do not have. What should I do? What’s the quickest way to earn money? How did single mom’s on here knockout debt without another income? What is the quickest way? I would like to talk with someone one-on-one. Any guidance is helpful. Thank you TBM Family  

Answer 1

I think there are mentors on this group - @vespers

Answer 2

Remember it took awhile to create your debt, it will take awhile to get out of it. Patience is hard but important. I struggle w/ it as well. Have you tried lowering usage on any bills such as water, electric, gas? Gotten rid of subscriptions that arent used much? Sold back old textbooks? Find a side hustle-babysit, Doordash, sell crafts, work from home in your spare time. These are all examples.  

Answer 3

Sale things that you do not need or use! Meal plan & see how low you can get your grocery bill to go! Remember that slow and steady wins the race

Answer 4

Sometimes people post pictures of there income/expenses so they can get suggestions as to where to start. That might be helpful in your situation.  

Answer 5

Have you taken TBM’s free email course? It’s step-by-step for setting up a budget by paycheck. There’s also lots of articles on the blog (search feature at the bottom of the site) for debt payoff plans, cash or cashless envelope systems, etc. Other free resources too!  

Answer 6

Take Mikos e-mail course.  

Answer 7

Contact Stand By Me for free financial coaching.  

Comments

@haymaker30 i looked at this and I see it’s available in Delaware. Anywhere else? Maybe a website link would be helpful. Thanks!  

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@fervent check your state. If not then maybe it isn’t there.  

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@haymaker30 yes I did. I only saw Delaware

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@fervent awe man. Ok we also have a money school here. Hmmm. What city and state are you in? There may be some programs in your area.  

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@haymaker30 Colorado. Denver area

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@fervent so nothing free in your area. So you can if you haven’t chosen someone yet, I’ll be your accountability partner if you want.  

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@haymaker30 I so appreciate that. I am mentoring someone nearby but I was interested in knowing what’s available in my area. Your local service is unique maybe.  

Answer 8

There’s a Mentorship button at the top of the group.  

Answer 9

I thought financial peace has free coaches/mentors. If not Larry Burkett has a website with free Christian mentors.  

Comments

@trinhtrini That's Compass1. org

Answer 10

Apartment Mystery Shopping

Answer 11

I don’t have specific advice, I just want to say you are a strong single momma. I know sometimes it feels like we are sinking, but you continue to work hard and set your kids up for a successful future. Kudos to you and how far you have already come!