For starters I would suggest that one or both of you should try to get a part time job. Also that car payment is way too high for your level of income, in my opinion. Its almost a quarter of your monthly income. Have you shopped around for car ins? That seems a little high for 2 people. When you say debt, what kind of debt is it? Student loans, private loans, credit cards, medical bills etc and what kind of interest rate?
I know what you mean. I make about $1000 a month. My rent, car insurance, cell phone, and utilities are 600 a month. Groceries, gas, and debts take the rest. Well, i get netflix too but that’s entertainment. My landlord and I share cable with Internet so we each pay half the bill. Niehter of us can afford to have it by ourselves.
Is there anything else included with your oil costs? Electric, trash, etc? Seems a little high for oil…. Car is higher because our credit score is borderline (600 I believe). Car insurance we did shop around. that was actually quite cheaper than the rest. it was supposed to be cheaper though. like we gave them more of a down payment than required to lower the monthly payment but they screwed it up and didn’t do that. they gave us a few months with no payment needed but…yeah. debt is credit card debt. we were dumb when we were younger. sigh! if we knew then what we know now!
We use oil when we are cold and keep it around 20. However, the landlord I’d say is another story. She uses it all the time in the winter and I’d say she puts it on quite high cause our apartment starts feeling like a sauna. And we have to pay half. In the winter it is typically about 250 every approx. 6 weeks. I just dread the winter. In the summer we barely ever get an oil bill. love that!
Can you reduce your cell phone bill? Go to pay-as-you-go and use it less? Do you have a home phone? Can you get rid of that? And if you’re really concerned about getting rid of your debt, Netflix has to go… you have cable. Why do you pay for that if it’s not for entertainment? If you’re serious about getting out of debt, you have to make a sacrifice or two…
Also, you need to find a way to make more money. You’re actually not in that much debt (coming from the girl who’s 50% of the way through $54K in debt), but with your income as low as it is, I can see why it feels like an impossible mountain. Can you take on a part-time job? Or change your main job so you have one that brings in more money? Is there anything you can sell on ebay? craigslist?
My mother and I share a cell phone plan that runs thru Feb 2012. Neither of us can afford the cancellation fees. There is no home phone, just the cell phone. I’m having a family meeting tomorrow night to discuss options and Netflix is on the list of things we need to change.