There are basically 2 levers you can pull.
1) Increase Income
In the very short term, take any second job you can get, fast food, grocery, whatever it may be. Just get cash coming in the door.
In the short-medium term look seriously at alternative industries you can work in with transferable skills, if animation is really failing you need a plan B.
2) Lower Expenses
The car is far too expensive for your current financial situation. If you can go without a car that would be optimal, otherwise you need to trade down to something considerably less expensive. Figure on at least 10 years old. In that range, reliability can be an issue, so stick with Toyota or Honda. If you can drive a manual get a manual.
Taking care of 4 animals is not sustainable. Adopt them out, send them to friends/relatives but you cannot afford that additional liability.
Car insurance is high, getting a much older car with only liability insurance should help reduce that cost as well.
Cut other expenses to the bone. Ramen, canned vegetables. $100 or less per month on food. Take advantage of free food events if you get any.
The credit card debt is the most serious issue here, but at those levels of debt consolidating it might be difficult without proof of steady income. The balances are too large for transferring to other cards with introductory 0% APR offers.
If you are unable to get another job you might eventually consider filling for bankruptcy to discharge the debt, but that will not be good for your credit so its not a first choice.
1) Increase Income
In the very short term, take any second job you can get, fast food, grocery, whatever it may be. Just get cash coming in the door.
In the short-medium term look seriously at alternative industries you can work in with transferable skills, if animation is really failing you need a plan B.
2) Lower Expenses
The car is far too expensive for your current financial situation. If you can go without a car that would be optimal, otherwise you need to trade down to something considerably less expensive. Figure on at least 10 years old. In that range, reliability can be an issue, so stick with Toyota or Honda. If you can drive a manual get a manual.
Taking care of 4 animals is not sustainable. Adopt them out, send them to friends/relatives but you cannot afford that additional liability.
Car insurance is high, getting a much older car with only liability insurance should help reduce that cost as well.
Cut other expenses to the bone. Ramen, canned vegetables. $100 or less per month on food. Take advantage of free food events if you get any.
The credit card debt is the most serious issue here, but at those levels of debt consolidating it might be difficult without proof of steady income. The balances are too large for transferring to other cards with introductory 0% APR offers.
If you are unable to get another job you might eventually consider filling for bankruptcy to discharge the debt, but that will not be good for your credit so its not a first choice.
Statistics: Posted by rogue_economist — Fri May 10, 2024 12:34 am — Replies 2 — Views 197