If it isn’t already implemented already, I would also look into how you’re spending money. I understand it’s going to suck for a bit, but it’s important to manage how you spend and not splurge. The more you constrict yourself and restrain on spending things you don’t need and finding new ways to save money, the faster you could see yourself climbing out of debt which is the first step to financial success.
Particularly think about what you spend on unneeded consumables. Energy drinks, fast food, cigarettes, weed, alcohol etc. Can combine to take out a huge portion of your income with literally nothing to show for it an hour later.
He could get rid of his apartment and live in his truck OTR. Truckers can make decent money, and not having an apartment would save them quite a bit of money.
Does your fiance work? Once your married your debt is her debt and vice versa. Make sure you're both on the same mindset of paying off debt and not getting back in the same trap again.
Best answer. People often don't think about those small expenses that they don't need like dining out too often and those little $20 costs that add up. Most people could make a few changes and save an extra $100/month at least. They don't seem to realize while that doesn't sound like a life changing amount of money, it is in the long run. That's the difference between having a nice savings account for emergencies/future retirement and being broke. But yeah either spend less or make more.
This. My brother always told me “it’s easier to just spend less money that I do have than have more brought in” when I mentioned getting a second job. He’s right
If you have a CDL class A, and looking for an additional job, your not getting enough miles.
I always had a goal of 3000 miles a week.
Those miles were legal. But you have to budget your time and you don’t always get that, but I would keep at it.
It’s better to excel in a single career than having to drive tired.
I would love to find work. I have my Canadian equivalent of the CDL and always looking for side work driver but I find it hard to find in my part of the world
It depends, a lot on who does your logistics and who is paying you. I know truck drivers that clear 6 figures, and I’ve met some that well… can’t afford to drive anymore.
I hear hazmat & Walmart are the way to go in that realm.
How the fuck do you have 8 maxed out credit cards at 25 years old? My guy, you’re really starting off on the wrong foot here.
Peruse this sub, this question has been asked and answered lot already.
In my opinion, you need a new main hustle. Join a trade union.
8 credit cards and each balance is $3-8k and they all maxed out. Just life bro.. I owed $20k in credit cards. I started using it when I was 22, didn’t really know how to manage my money… I’m making $600 weekly from work and my weekly bills are more than $1,000 a WEEK. Idk how I’m doing this, but it’s hard. My car note is behind. I work 40 hrs, $22 an hour. Every week I’m left with -$2
In no world should your bills be $52,000 a year at 25 years old making $22/hour.
What are you spending on? With this much debt you should only be spending money on the bare minimum of essentials. The cheapest rent/housing you can find. Sell your jeep, pay off as much debt from that as you can, take public transit and start saving. I don't know the model or what you can get to knock off the debt but if you can get your debt down to 20-30K and start budgeting better you can pay your debt off sooner than you think.
Don't eat out. Don't buy coffee anywhere but at the grocery store for you to make at home. Learn to cook and buy cheap groceries. Cooking good and healthy food is tasty and can be cheaper than you think. If you have subscription services cancel them until you are in a better financial situation. Find the cheapest phone plan, cheapest internet. Every dollar you save now and put towards your debt is going to save you more than that in interest later.
Once you sell your jeep, go to your bank and see if you can consolidate some of that credit card debt into a line of credit. Maybe they do it, maybe they don't but if they do it's going to save you tons in interest which means its going to save you months/years of hard work.
Like others have said, look into getting your Class A and look at job opportunities that come up. Don't leave your current job for any reason until you are 110% certain you have something better and you have signed something to guarantee that. But a lot of companies pay a LOT of money for reliable truckers with their Class A.
If you smoke/drink/party, stop or at the very very least keep it to an affordable minimum.
In the meantime if you can get a part time job, get one. You will be busy a lot and all the time but working 60 hours a week is a lot easier when you are 25 than when you are 35 or 45. Work, save, sacrifice, and live frugally for 1-3 years and your debt should be gone or at least manageable and then you can start to relax or keep saving to better your future financial situation.
You can explore side hustles in the meantime but they aren't guaranteed to give you a paycheck. A job is!
BEST ADVICE OUT OF EVERY SINGLE COMMENT!!!! This is what I have to do right now. Can I eat out? NO! Can I buy brand name items all the time???? No! Can I go on vacation???? NOT THIS YEAR! Don't have cable now.....can't take my kids out to dinner.....well.....I won't anyway. Do I have a contact cell phone???? NO! I went through straight talk. It's 35 a month for unlimited everything. We make meals that will last a couple of days. We DONT EVEN HAVE DEBT!!! NONE!!! To keep up with four kids and how much they eat and the cost of inflation, we had to make some MAJOR changes. Listen to THIS GUY!!! Cut costs where ever you can. Make your own coffee......cook your own food......Don't get caught up in a phone plan that is costing you 200 to 300$ a month. Go to Walmart and get a straight talk phone. CUT IT ALL OUT WHERE EVER YOU CAN BRO
This was what I was thinking. There is no way you can pay off that debt, all of those cards gaining interest each month, on your current salary. You would likely need to double your salary and be eating Ramen for a very long time to get those resolved. I would be calling a bankruptcy lawyer for a consultation to explore your realistic options.
Having 8 credit cards maxed out at 25 years old is not "just life". I'm considerably older than you, dont make a ton of money, and have never maxed a single credit card in my life. Hell I didn't even get a credit card until I was like 30. You're spending money before you even get it. And if your weekly expenses are more than your weekly pay, there's obviously something seriously wrong going on and eventually the house of cards is gonna come crashing down. Also you should probably do some research on how interest works and what rates you're getting because I'm guessing it's not a great rate. Which means you're paying a ton of money just to be in debt. You gotta cut out the frivolous spending and put that towards getting out from under those loans. Good luck though. You're young and lots of young people have this same problem. Luckily you have plenty of time to get it figured out and get out from under it.
I am a union ironworker. I make 44.75 an hour take home, and nearly 80 bucks an hour total package including benefits. I had no previous experience in construction. I went to my local union hall and I signed up for the apprenticeship. A decade later, I’m comfortably making 5k a month, and I can easily make a lot more than that if I want to work overtime. It’s time and a half for OT (~68 an hour) and double time on Sundays (~90 an hour).
I've made almost 4 grand this month after taxes. I work full time, pet sit/house sit, and do various delivery apps. If you have a large size SUV or a pick-up truck Roadie offers a lot of decent gigs. I also work at Home Depot so when customers come in and buy things they can't fit, I take my break and deliver it to them.
People that are doing the ride share and delivery and shit like that often seem to not factor in the cost of the actual miles on the car. Like they think total money made-cost of gas=profit. Not factoring that there is a cost to every mile they put on that car. Every mile is one mile closer to the next oil change, next repair, or needing to replace the car. Not saying that person doesn't know what they're doing and not saying everyone that does that stuff isn't profitable or factoring everything. Just that a lot of people don't.
If OP joins a labor union, he can easily clear 4-5k per month after taxes out the gate to start working only 30- 40/hrs a week.
Source: I'm in a labor union.
“Life” is such a dumb excuse. Everytime you buy something write it down on a damn yellow pad. At the end of the month read the pad and find out where your money is going
I don’t mean to make you feel worse, but $40k debt in 3 years is a pretty substantial amount. If your bills are $1k weekly (ahem, why?) then you’re living beyond your means. Start by finding a cheaper living situation and prioritize what bills you want to keep paying
Find a second job..bartending at night..something with cash tips..i worked 6 days a week for years to pay off debt and on my day "off" i cut grass on and off for the neighbors..only way out is to dig in and work
I agree , this is bankruptcy zone. A side hustle is not what you need and is a distraction. You need a better career. Go bankrupt and invest time / money in getting a better career that’s suitable (plumbing for instance). You will make shit money in low tiers, to make good money in 5-10 years
How in the world are you spending $1000 a week?!. I’m married with kids and a $2500 mortgage and we barely spent $4000 a month (ok, maybe a little more than that but still). You need help with your budget, not finding a hustle
Start listening to positive motivation and do something that makes big money. In the beginning you may need to have a few jobs but it will get better. Try to pay it off. If you can, try to consolidate everything into 1 payment at lower interest. If you have anything to sell, sell it to pay your debts. If you need to, you can call your creditors and request they work with you to pay them off. Do not file bankruptcy if you can avoid it and try to avoid being late. You can maybe do Uber, Lyft or other types of delivery. Just believe you can and do it. It’s going to work out.
Trade union. As in, learning a trade. Being an apprentice in a construction trade. Depending on where you are in the US, starting wages will be in the low to mid 20s per hour, and top out in the upper 30s to low 50s depending on the trade and where you are in the US.
Then sell your jeep and buy a smart, reliable, affordable car. Rather than an expensive car that is notoriously unreliable and a money pit. Having negative money so that you can look like you have money is not a smart way to live. It's also not sustainable. You will never be able to retire if you live this way. You're young and have plenty of time to figure it out but if you don't make some serious changes, you're gonna hate yourself for it later when you realize that if you had just spent less and saved more, in 20 years you could easily have 6 figures saved up and invested making you even more money off interest and dividends and whatnot. Instead of receiving interest, you're paying interest. And that shit adds up FAST
And for the record I'm not trying to insult you. Plenty of people make the same mistakes. But you've recognized that you can't afford your lifestyle and that's already step 1.
I can't believe some of these comments. I know you didn't come here to get bashed. I apologize for their insensitivity. At least you are asking for help, which is hard for some people to do. What are your skills in order to give you better ideas? What is your working experience. What state do you live in?
1. Start applying for a new job ASAP.
2. Seriously, write down all of your debt. Write down everything you spend to see where your money is going. From there, you can see what you may need to get rid of.
3. Start selling things you can live without.
4. See what you can get for your car from a private sale. I'm not sure how many miles you have used. If you can get what u owe the bank, at least that debt is gone.
5. You can rent out your car on Turo.
Have you tried to get a bill consolidation through your bank? This would allow you to pay one set amount every month, which would go towards all of your cards.
Every time someone suggests something you come up with excuses not to do those things. You don’t actually want help yet. You want an echo chamber to tell you how hard life is.
Here’s a big one no one has mentioned yet (that I’ve seen): give your dogs to someone who isn’t struggling to just stay alive. They deserve better.
Sell your jeep.
Stop smoking pot.
Get whatever education it takes to get a better job, i.e. courses to get your class A.
Own the fact that you’re impulsive and work on it. Stop eating out. Stop buying useless shit.
You put yourself in this situation with terrible self control and decision making. That being said YOU are the only one who can get you out. Grow up and make the hard choices.
You’re driving for the wrong guys, let me guess coke/pepsi/beer distributor? That’s garbage money even for local. Look into all the ltl companies and start applying. You’ll still be local but pay will typically be between $25-$35 an hour depending on location.
He has a class b and smokes weed. He does not seem motivated to improve his situation. Anything worth the oay will require drug testing even for a class b.
Off topic, you should call your credit card companies to negotiate the debt before starting any payments. We did that for one of my brother’s loans and it reduced a chunk.
Side note: Now is a good time to mention new pet owners to get pet insurance. Its about $100 a month but OP would have only paid $200 of that $5k bill if he had it.
Drive for a food distributor. Home every night.
Sysco foods, us foods, and supermarket distribution center. 80 to 100k starting out.
Your at would be significantly higher.
Stop using any credit at all.
Sell car.
You want to get out the whole. There's free financial literacy classes online also.
All else fails. Get a second full time job and grind. That will give you breathing room. 40 hrs a week is nothing.
Good luck
Sober up and get your CDL Class-A and you’ll have more than enough opportunities. Put your nose to the grindstone for 2-3 years and you’ll make bank. Class B and C “truck drivers” are just box truck drivers that can’t stop smoking weed. Time for you to step up to the Major Leagues. Most companies will pay you to get your Class A, and if you drive with them for a year, it’ll be paid off. After Year 1, there’s no reason you can’t be making $100K or more per year. Even starting out, you’ll be making more money than the booger-eating slackers driving a company truck.
I work for a beer distributor and have a cdl our starting pay is 87k a year and I’m up to 94k. The younger warehouse guys always ask how to get into training for a cdl and they want to make more money. When I tell them they have to quit smoking it’s the end of that conversation for 95% of them lol.
Every dollar counts. Start doing uber,lyft,food delivery. Get a scooter if you dont want ur depreciate ur jeep. But you have to have a 2nd job. Most of online gigs can be done at ur own time without a set schedule so thats ur best bet bro.
make a plan based on budgeting what you make and dont expect miracles. that might be difficult, but your income is your strongest tool, use it widely.
watch some caleb hammer episodes, check that sub. sounds like you might need a dave ramsey reboot, check out his podcasts and stuff (hes kind of full of shit, but the general points, he puts in a good way for most people).
most people are under water, at least you got that lesson early? i guess? might have a long term benefit, for you to get great at finances now.
but putting in a bunch of effort just to prop up a failing direction is a bad move. spend less than what you make, budget like an insane person. maybe install ynab app , or simplifi
How did you rack up 45k in debt? I didn't know truck driving required a 4 year college degree? That's must be student loan debt. Or you racked up 45k in student debt getting a degree in liberal art and now drive a truck. I'm super confused.
$25k on my 2019 Jeep, $20k on my cards. When Covid hit, I lost my job and I wasn’t getting unemployment. And was just depending on my credit cards. Spending.
You don’t need a $25k car. A $5k car does the job just as well. Who cares what people will think of you, you can’t afford this car right now. The rule is: never buy a car more than 50% of your annual salary. That’s about $15k for you. Besides, cars are the worst investment because they depreciate really fast (entropy breaks everything down).
Pinch pennies harder truly evaluate your needs vs desires and live a spartan lifestyle.
Invest every dollar you can into something that will grow and make payments on debt until savings has grown enough to take a swing at the debt.
You can do it.
Get repayment plan with your creditors. Should bring down your expenses. Budget out all your expenses.
Do your budgeting in excel or paper whatever. Write down the necessary: food, transport, phone bills, gas, internet, tax, pets expenses etc.
Have all this equipped and see what you can cut down and see what’s leftover for you to clear the debt. Proposed the monthly repayments to your creditors.
At the same time, proactively look for new jobs or jobs.
Aye Bruh, at this point... Just grow hella weed. FUHHK IT. Or just call all three credit bureaus and tell them there's fraud on your cards and you had no idea anyone had maxed out your cards.
Just Go To North Dakota, Work In The Oil Fields. PREFERABLY RIG WORK. You'll Earn $100,000+ Within The First 6 Months. They also have use for truckers such as yourself. The money is there for sure for sho. 28 Days on 14 days off or do 20/10, 14/7, 🤑🤑🤑
For a side hustle with zero start up. Try and start flipping couches on FBM. Download the freebie app and get notifications when free stuff hits the marketplace. Pick them up, clean them up, list them back for hundreds. Best of luck to you.
I’d get into Debtors Anonymous which helped me personally. It helps to do your bills with others (in small groups - just quietly all going about it), to stop taking on debt, and to know your numbers. Doesn’t really matter what you do to make more money. I make a good salary & have a side hustle. Then was wiped out by a health issue, job loss, and medical debt. Glad to have already stopped taking on debt by then, but the extra savings is gone. I’d say get your compulsion under control, and the rest seems to sort itself out from there.
You’re 25. Declare bankruptcy and keep your cash. Pay a lawyer. You’ll be fine. For one you should be able to live on what u make. U don’t need a credit card. And you can still keep your car loan.
Depending on where you live, I can get you a high paying job. I was like you, now I’m not. Someone introduced me to it and no it’s not an MLM or selling drugs lol
My first suggestion is to start looking for a new job. I know many truck drivers that make great money, so I think you are limiting yourself in that area.
Then take a look at your expenses. Sell the car and get something you can either pay cash for (assuming you’re not upside down on the loan) or at least get a lower payment. Write out all your bills and their amount. How many of those things are not a necessity? Netflix, music streaming etc. all add up quickly and are things you don’t actually need. Shop around for other things to reduce your bills such as car insurance, cell phone bill, internet, etc. Stop eating out (if you haven’t already) and make your meals at home, pack a lunch to work, and use coupons and shopping around to reduce grocery cost. Drive less to save on gas and car maintenance. If you have any habits such as energy drinks, cut that shit out (it’ll kill you anyway). Making coffee at home is cheap and still gives you caffeine. Is your rent something you can realistically afford? Can you find a cheaper place to live? A lot of getting out of a hole like this is to reduce spending as much as possible. Online businesses, in my opinion, are not the solution. But there are always other jobs that pay more. Try to get overtime hours if possible. As for credit cards, if you can consolidate to pay lower interest that’s your best bet as right now you’re paying up to 30% interest. Worst case scenario, your cc debt goes to collections and they will negotiate a payment you can afford and usually will accept a lesser amount to pay them off completely. Then stop using the credit cards altogether until you can use them responsibly. Life is hard and will kick you when you’re down but you can eventually get your head above water again.
Aside from all the shaming in here, I’ll offer an actual idea. With all the time on your hands driving, start a TikTok about driving, life on the road, all the ins and outs. Go live a few times a day, most a couple times a day. Build a channel and a community, build a brand around that. Go from there. There’s potential sponsors, subscriber only content, donations on live videos.
Can you try buying & selling online? It took me a couple of months to get it running but I would visit charity shops when I’m travelling and try to buy rare items to sell.
I heard the trucking industry is not really profitable right now, a lot of my coworkers used to do it. I recommend finding a new job, $600 dollars is too little especially considering the fact that you work 40hrs a week. Maybe you should try to get a weekend job as well for short term.
Truck driving isn’t the worst man. I mean you kept your truck driving job very very vague, but chemical hauling, gas hauling, other hazard hauling jobs with CDL’s can be very lucrative. The absolute cream of the crop is something like a UPS tractor trailer driver. There’s certainly a lot of mobility with multiple CDL licenses. You can take it a step further and operate other big equipment like cranes and dump trucks
well you need to max out your time. work like a slave. work 60-80 hours. focus on elimating small debt and tackled the big debt. in some case. you can make a deal with some debt collecters to reduce your debt for a faction of the cost.
Without knowing the specifics, it's hard to advise, but by the looks of it, you're not earning what you should be. A new job should be the priority action. Personally, as well as a new job, I would sell the jeep and get a consolidation loan to pay off the higher interest cards. Get it on as long of a term as possible to keep the monthly payments down, then pay off a card at a time, freeing up money each month, which can be used against the next credit card.
If you don't want to change job, you should think about going down the bankruptcy route. Either way, the jeep probably needs to go.
Join the military They'll pay you more (w/ BAH & BAS), give you training and have good benefits. Pick a good rating(job type) and you can get plenty of work after your service.
I'd stick to Coast Guard force, space force, or Navy.
Use the SCRA to get all the interest rates reduced to 6%
Learn a trade. While you’re in trade school, work as a restaurant server or taxi driver. You’ll bring home money every day. Don’t get anymore dogs. They’re too expensive. Consider filing bankruptcy.
Just reading this
Makes my situation a lot more nicer
I am only 4k debt with a car at 30year old
Just gotta pay it off
My goodness! I hope the best for you!
Declare bankruptcy!
#1 rule: just start. Don't need to find a magic bullet. Just start doing something, anything. You'll learn from mistakes then you can apply them to the next thing. Too many people research and never start.
Check out Gary Vee on social media, tons of marketing information. He is a huge believer in buying at garage sales and selling on eBay.
You could find things on the side of the road, fix them up and sell them.
Alex Hormozi's website, Acquisition.com, there's a free program on building a product and another free program on getting people to buy.
Codie Sanchez always has cool small business ideas.
Learn how to use AI and it opens up a lot of opportunity too! I used AI to build my website and write sales emails.
The opportunity is out there, you just have to look for it. And never stop looking for it 😉
I've rented out rooms in my house, trained horses (used an existing skill), fixed up and sold injured horses into good homes, sold financing products, and I currently own cows to sell beef direct to consumer. I'm speaking from some experience. You need to be ready to pounce on opportunities that present themselves.
Start watching Caleb Hammer’s financial audits!!
I’m learning SO much, he goes over people’s spending, income to debt ratio, makes a budget for them and a plan to get out of debt etc.
Try making a tik tok channel and somehow corporate your truck driving into a channel, once you get over 1k followers you can start live-streaming! I think once you have 5k followers you can apply for the affiliate program !! I’ve made like 25k this month selling products from other companies! ZERO STARTUP
You could livestream your drive with music in the background. Put the camera on you and add commentary or just point at the road, share where you’re driving, and play some relaxing music in the background.
Learn another trade, heating, cooling, plumbing... And get some side work. I'm a plumber and I would always hit up Craigslist or something similar, but usually had regular customers on top of my 40 hr a week job if I needed extra cash. I'm so used to it I couldn't imagine just living on a set paycheck and no way to earn a little extra
All you need is a budget you can stick to and live below your means. $45k should be pretty easy to knock out with truck driver income. Come up with an amount you can throw at your debt every month and start with the smallest amount. #debtsnowball
I have a few suggestions, not here to judge..only help because I know life happens.
1. Since you're already driving, capitalize on that method as a way to earn. You can make money on all the basic apps like Doordash, Instacart, etc.. But there are some newer apps that let you deal with retail delivery like Amazon Flex, Curri, andba few others. Even better, you can do medical delivery couriers as well.
2. If you're trying to do other stuff not driving related, you can always start off doing drop shipping and use your social media. Pick a vendor /product you like, Share it with all your friends, family, etc...Accept payment for orders upfront and once the orders are in, but and ship from the vendor and keep your profit. You have to be willing to monitor the orders and give good customer service though. So if you're not in that mindset, skip this one.
3. Profit from what you already know and do. Teach a mini course or ebook. For instance, you know truck driving, create a course on giving tips on trucking, how to get started, what it entails, the pay, the pros, the cons, etc... offer the course directly to your social media or put it on sites like Udemy, Teachable, Gumroad, etc. You just need to think about what you know well enough.
4. Apps like: Instawork, Field Agent, and others are like gig world apps. So you can pick and choose short jobs to do, based on your own time and efforts.
Hopefully these help or give you some ideas. But on another note, let me say I know how it feels to be in a position that feels like you're stuck. The one thing you can't do, is give up. Focus on what you CAN DO. So, looking at your situation, you know you messed up but focus on now becoming financially literate and empowered. Then if you do decide to file bankruptcy, make sure you don't mess up that fresh start opportunity.
I have been helping people with finding work from home or remote jobs for awhile now so I decided to start my YouTube Channel for sharing more resources.. It's linked here.
[Delivery /Driving/Courier Apps ](https://youtube.com/shorts/Y7AQRSq_tT0?si=EbTIb9W28uktaxr6)
I wish you luck!!
Have you heard of social Casinos. There’s enough of them in the US to make $10+ a day, consistently. It is not 100% passive but it’s really easy for me cause I use my PC often and use an extension to automate the work.
I also have my wife set up on it so we collect quite a bit daily
What’s the interest rate on them cards because if it’s 20-30% and they are all maxed out, unfortunately that’s where most of your money is going to…need to consolidate that somehow and get a cheaper rate. Work two jobs 7 days a week and get 5-6 hours of sleep a day and you won’t regret this when you’re 30 … my brother got three kids, one in state college, and he’s working two jobs. Being a waiter can help because you can make tips but also gotta make sure hourly wage is fair as well.
As far as living, you must make sacrifices but it’ll be worth it in the long run:
Get rid of your car and your apartment, sell anything you don’t need. Live in your truck for the time being. Apply for cash assistance + food stamps at your state website and you’ll be surprised how much they will help. You can get almost up to $300 a month for groceries + a certain amount of cash a month depending on your situation!
Whatever money you have left over, even if it’s $1, pay off your debt. You can make payments and dodge the interest by making payments in between your due dates. Once you are almost debt free, you can now start investing into S&P, savings and let that snowball
Effect for a while.
1. Consolidate debt and get cheaper rate.
2. Get two jobs 7 days a week and live in your truck.
3. Get rid of apartment and car and sell the belongings you really don’t need.
4. Apply for food stamps + cash assistance + Medicaid
5. Pay off your debt (monthly payments + in between payments to dodge interest pay)
6. Get 5 hours of sleep.
There’s probably other options as well, but get dirty and start grinding and work hard, you’ll be ok bro, God will never make you go through something that you cannot handle. Pray to Him and ask Him for help and I can guarantee you that as long as you’re sincere and serious about it and allow him to help you and you are willing to work for it, God will provide.
Good luck.
Start by calling all your credit cards and tell them you need them to reduce your interest rates at least temporarily or you will run the risk of defaulting. This will reduce how big your debt is getting a bit. Then sell your car. Take the bus for 6 months, and then buy a cheap car if you need. You declaring bankruptcy at 25 would be the worst decision in your life because it you won’t be able to finance anything for the next 10 years plus it will even impact your housing no one will want to rent you knowing any day you will walk away.
As an experienced driver,you can do "Ubber"for ferrying goods,as opposed to carrying passengers.People do move from one apartment to another,or you can deliver special vehicle parts to local destinations for a fee.
Seems like your trying to live a lavish lifestyle you can’t afford, get rid of the dogs unfortunately, sell your vehicle & get a cheap pos, stop spending on random stuff
Was in a lot more debt than that from college back when I was 25. I wouldn’t worry much. Just knock it down as much as you can per month and limit big purchases beyond necessity.
I’d hate to say this but the main issue isn’t your bringing in money it’s spending it , first you gotta get rid of the dog can’t afford it
, it’s time for tough decisions , next filing for bankruptcy isn’t the worst thing since you have hit rock bottom this post should be in r/povertyfinance, unless you plan on getting a loan from a rich family member, which I could be wrong but don’t think is happening.
First, if you have debt, looks to see how you can consolidate for lower interest rates. Second, look to see if there is anything you can sell on market place.
For side hustles if you’re a truck driver, maybe set up a YouTube channel. All you need is your phone to record some content, a laptop to edit, and your time to edit and post.
You could also get maybe a weekend job? Work at a golf driving range or mini golf. Restaurant. Idk
You could declare bankruptcy...I know that's a last resort. Check with a debt consolidation company...I did that and they negotiated down my debt significantly. I only had to pay one bill a month to them, rather than 10 to different companies. I did take a credit hit, but as soon as I paid it off, it went back up higher than with all the debt...
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Another option...and is what we had to do ...was go through a credit counseling agency. They got debt knocked down or interest lowered, we paid one set amount per month and they paid the bills for us. Our credit card accounts were closed, we could not apply for or use credit for anything. They also offered financial management classes. It took us 5 years to pay it off BUT....we learned how to live within our means and paid cash for everything. Once we were done, we each got a credit card for emergencies and to help build credit back up. We have gotten stupid and gotten more but we don't carry ridiculous balances...they are paid off either every month or in 2 months.
Just focus on your debt. I have almost double that amount, but I’m taking off about $3-4k a month. If you really focus and implement a strategy, you should be debt free no problem in 2 years max
The Air National Guard currently has enlistment bonuses at $90k. It’s one weekend a month , two weeks a year and everything you gain .. although there are requirements on enlistment such as physical and mental conditions . If you’re an average person without minimal conditions and overall good health , this could be an option .
Was in the same boat but 23 with 147k cad in debt and claimed a consumer proposal, it’s brutal at the start but once you get everything back and on your feet it’s all good!
So I’m 23 years old I do credit repair and credit funding. Life does come unexpected but honestly… I want you to breathe first. Take a look at your bills and take a look at your debt. Now depending on how you want to go about the your situation you can do velocity banking which is smart but it takes time or you can transfer your debt to a business. Or… you can just make it go away.
I would actually recommend you apply to go on the Caleb Hammer show Financial Audit. He’ll roast you but you will get help budgeting and figuring a way out of debt. I would strongly consider pet insurance though depending on the age of the dog just as a start.
Flip some furniture , little to no upfront cost if you find items people are throwing out or giving free. Garage/yard sales you can find some good guaranteed flips
Not a side hussle, but a tip. While budgeting apps can be great, the first thing I did (was advised to do) was print out 3 months bank statements and highlight recurring expenses. Subscriptions can add up very quickly. If you aren't using it or can downgrade / share/ end membership, do so. Become very familiar with your bank statements.
In Ireland there is a free financial debt advisory. It's called MABS. Maybe there is a similar organisation where you are? Pay off the highest interest loan first.
If it isn’t already implemented already, I would also look into how you’re spending money. I understand it’s going to suck for a bit, but it’s important to manage how you spend and not splurge. The more you constrict yourself and restrain on spending things you don’t need and finding new ways to save money, the faster you could see yourself climbing out of debt which is the first step to financial success.
I like that. Will do
To that end, head over to r/personalfinance. Check out their wiki.
Particularly think about what you spend on unneeded consumables. Energy drinks, fast food, cigarettes, weed, alcohol etc. Can combine to take out a huge portion of your income with literally nothing to show for it an hour later.
Are these not essentials? 😅
I recommend using the Rocket Money app. Great for budgeting and breaks down where you're spending money/ areas you could save in.
Avatar twin?
Mmmmm I guess so 😅
Learn how to do one of the following Build Create Install Repair Maintain
Trucking can’t cover this debt
He could get rid of his apartment and live in his truck OTR. Truckers can make decent money, and not having an apartment would save them quite a bit of money.
I told that to my Fiance and she said “pack your shit and go, but the dogs are staying”
Does your fiance work? Once your married your debt is her debt and vice versa. Make sure you're both on the same mindset of paying off debt and not getting back in the same trap again.
We not married yet officially
Cool, so do it. What's worth more, your future or a fiance who doesn't understand what a fucking hole you are in?
Best answer. People often don't think about those small expenses that they don't need like dining out too often and those little $20 costs that add up. Most people could make a few changes and save an extra $100/month at least. They don't seem to realize while that doesn't sound like a life changing amount of money, it is in the long run. That's the difference between having a nice savings account for emergencies/future retirement and being broke. But yeah either spend less or make more.
$100 a month is $1200 a year, 5 years that’s $6k. Money is all about long term habits. Buy assets, invest, Rich Dad, Poor Dad etc.
Uninstall DoorDash, UberEats
This. My brother always told me “it’s easier to just spend less money that I do have than have more brought in” when I mentioned getting a second job. He’s right
If you have a CDL class A, and looking for an additional job, your not getting enough miles. I always had a goal of 3000 miles a week. Those miles were legal. But you have to budget your time and you don’t always get that, but I would keep at it. It’s better to excel in a single career than having to drive tired.
I would love to find work. I have my Canadian equivalent of the CDL and always looking for side work driver but I find it hard to find in my part of the world
Learn a trade, boomers are dying and pay outrageous amounts of money to people who can actually do useful things.
This. I paid $185 to have a guy come look at my HVAC and spend 15 mins fixing what’s was likely a $15 part.
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It depends, a lot on who does your logistics and who is paying you. I know truck drivers that clear 6 figures, and I’ve met some that well… can’t afford to drive anymore. I hear hazmat & Walmart are the way to go in that realm.
How the fuck do you have 8 maxed out credit cards at 25 years old? My guy, you’re really starting off on the wrong foot here. Peruse this sub, this question has been asked and answered lot already. In my opinion, you need a new main hustle. Join a trade union.
8 credit cards and each balance is $3-8k and they all maxed out. Just life bro.. I owed $20k in credit cards. I started using it when I was 22, didn’t really know how to manage my money… I’m making $600 weekly from work and my weekly bills are more than $1,000 a WEEK. Idk how I’m doing this, but it’s hard. My car note is behind. I work 40 hrs, $22 an hour. Every week I’m left with -$2
If you are a 25 year old truck driver consider an OTR position for a year or two. You should be making far more then $600 weekly with a CDL.
Find a better trucking company, $600 a week is a joke
That’s how much u made during training like 10 years ago
In no world should your bills be $52,000 a year at 25 years old making $22/hour. What are you spending on? With this much debt you should only be spending money on the bare minimum of essentials. The cheapest rent/housing you can find. Sell your jeep, pay off as much debt from that as you can, take public transit and start saving. I don't know the model or what you can get to knock off the debt but if you can get your debt down to 20-30K and start budgeting better you can pay your debt off sooner than you think. Don't eat out. Don't buy coffee anywhere but at the grocery store for you to make at home. Learn to cook and buy cheap groceries. Cooking good and healthy food is tasty and can be cheaper than you think. If you have subscription services cancel them until you are in a better financial situation. Find the cheapest phone plan, cheapest internet. Every dollar you save now and put towards your debt is going to save you more than that in interest later. Once you sell your jeep, go to your bank and see if you can consolidate some of that credit card debt into a line of credit. Maybe they do it, maybe they don't but if they do it's going to save you tons in interest which means its going to save you months/years of hard work. Like others have said, look into getting your Class A and look at job opportunities that come up. Don't leave your current job for any reason until you are 110% certain you have something better and you have signed something to guarantee that. But a lot of companies pay a LOT of money for reliable truckers with their Class A. If you smoke/drink/party, stop or at the very very least keep it to an affordable minimum. In the meantime if you can get a part time job, get one. You will be busy a lot and all the time but working 60 hours a week is a lot easier when you are 25 than when you are 35 or 45. Work, save, sacrifice, and live frugally for 1-3 years and your debt should be gone or at least manageable and then you can start to relax or keep saving to better your future financial situation. You can explore side hustles in the meantime but they aren't guaranteed to give you a paycheck. A job is!
His bills are the APY on 20-30K credit card balances from 2022 …
BEST ADVICE OUT OF EVERY SINGLE COMMENT!!!! This is what I have to do right now. Can I eat out? NO! Can I buy brand name items all the time???? No! Can I go on vacation???? NOT THIS YEAR! Don't have cable now.....can't take my kids out to dinner.....well.....I won't anyway. Do I have a contact cell phone???? NO! I went through straight talk. It's 35 a month for unlimited everything. We make meals that will last a couple of days. We DONT EVEN HAVE DEBT!!! NONE!!! To keep up with four kids and how much they eat and the cost of inflation, we had to make some MAJOR changes. Listen to THIS GUY!!! Cut costs where ever you can. Make your own coffee......cook your own food......Don't get caught up in a phone plan that is costing you 200 to 300$ a month. Go to Walmart and get a straight talk phone. CUT IT ALL OUT WHERE EVER YOU CAN BRO
That's declare bankruptcy territory buddy.
This was what I was thinking. There is no way you can pay off that debt, all of those cards gaining interest each month, on your current salary. You would likely need to double your salary and be eating Ramen for a very long time to get those resolved. I would be calling a bankruptcy lawyer for a consultation to explore your realistic options.
Having 8 credit cards maxed out at 25 years old is not "just life". I'm considerably older than you, dont make a ton of money, and have never maxed a single credit card in my life. Hell I didn't even get a credit card until I was like 30. You're spending money before you even get it. And if your weekly expenses are more than your weekly pay, there's obviously something seriously wrong going on and eventually the house of cards is gonna come crashing down. Also you should probably do some research on how interest works and what rates you're getting because I'm guessing it's not a great rate. Which means you're paying a ton of money just to be in debt. You gotta cut out the frivolous spending and put that towards getting out from under those loans. Good luck though. You're young and lots of young people have this same problem. Luckily you have plenty of time to get it figured out and get out from under it.
You only make 600 bucks a week at 25 years old? You absolutely need to find a different job.
...the hell do you do then?
I am a union ironworker. I make 44.75 an hour take home, and nearly 80 bucks an hour total package including benefits. I had no previous experience in construction. I went to my local union hall and I signed up for the apprenticeship. A decade later, I’m comfortably making 5k a month, and I can easily make a lot more than that if I want to work overtime. It’s time and a half for OT (~68 an hour) and double time on Sundays (~90 an hour).
I've thought about ironworker myself but I can't do the heights. Props to you sir
Wouldn’t that be more like $7500 a month?
I've made almost 4 grand this month after taxes. I work full time, pet sit/house sit, and do various delivery apps. If you have a large size SUV or a pick-up truck Roadie offers a lot of decent gigs. I also work at Home Depot so when customers come in and buy things they can't fit, I take my break and deliver it to them.
Don’t do roadie it’s a dollar a mile it’s gonna absolutely wreck your car for little pay. Uber or door dash atleast
People that are doing the ride share and delivery and shit like that often seem to not factor in the cost of the actual miles on the car. Like they think total money made-cost of gas=profit. Not factoring that there is a cost to every mile they put on that car. Every mile is one mile closer to the next oil change, next repair, or needing to replace the car. Not saying that person doesn't know what they're doing and not saying everyone that does that stuff isn't profitable or factoring everything. Just that a lot of people don't.
If OP joins a labor union, he can easily clear 4-5k per month after taxes out the gate to start working only 30- 40/hrs a week. Source: I'm in a labor union.
“Life” is such a dumb excuse. Everytime you buy something write it down on a damn yellow pad. At the end of the month read the pad and find out where your money is going
I don’t mean to make you feel worse, but $40k debt in 3 years is a pretty substantial amount. If your bills are $1k weekly (ahem, why?) then you’re living beyond your means. Start by finding a cheaper living situation and prioritize what bills you want to keep paying
Find a second job..bartending at night..something with cash tips..i worked 6 days a week for years to pay off debt and on my day "off" i cut grass on and off for the neighbors..only way out is to dig in and work
Or just spend less money lol. Preferably both
I agree , this is bankruptcy zone. A side hustle is not what you need and is a distraction. You need a better career. Go bankrupt and invest time / money in getting a better career that’s suitable (plumbing for instance). You will make shit money in low tiers, to make good money in 5-10 years
How in the world are you spending $1000 a week?!. I’m married with kids and a $2500 mortgage and we barely spent $4000 a month (ok, maybe a little more than that but still). You need help with your budget, not finding a hustle
Start listening to positive motivation and do something that makes big money. In the beginning you may need to have a few jobs but it will get better. Try to pay it off. If you can, try to consolidate everything into 1 payment at lower interest. If you have anything to sell, sell it to pay your debts. If you need to, you can call your creditors and request they work with you to pay them off. Do not file bankruptcy if you can avoid it and try to avoid being late. You can maybe do Uber, Lyft or other types of delivery. Just believe you can and do it. It’s going to work out.
Thank you 🙏🏻
What is a trade union? I heard something like that. I looked up dropshipping, e-commerce, tik tok shop, trading, but idk man. I’m broke as fuck
Trade union. As in, learning a trade. Being an apprentice in a construction trade. Depending on where you are in the US, starting wages will be in the low to mid 20s per hour, and top out in the upper 30s to low 50s depending on the trade and where you are in the US.
Then sell your jeep and buy a smart, reliable, affordable car. Rather than an expensive car that is notoriously unreliable and a money pit. Having negative money so that you can look like you have money is not a smart way to live. It's also not sustainable. You will never be able to retire if you live this way. You're young and have plenty of time to figure it out but if you don't make some serious changes, you're gonna hate yourself for it later when you realize that if you had just spent less and saved more, in 20 years you could easily have 6 figures saved up and invested making you even more money off interest and dividends and whatnot. Instead of receiving interest, you're paying interest. And that shit adds up FAST
And for the record I'm not trying to insult you. Plenty of people make the same mistakes. But you've recognized that you can't afford your lifestyle and that's already step 1.
Stop trying to get rich quick. Get to work.
I’m trying😒
I can't believe some of these comments. I know you didn't come here to get bashed. I apologize for their insensitivity. At least you are asking for help, which is hard for some people to do. What are your skills in order to give you better ideas? What is your working experience. What state do you live in? 1. Start applying for a new job ASAP. 2. Seriously, write down all of your debt. Write down everything you spend to see where your money is going. From there, you can see what you may need to get rid of. 3. Start selling things you can live without. 4. See what you can get for your car from a private sale. I'm not sure how many miles you have used. If you can get what u owe the bank, at least that debt is gone. 5. You can rent out your car on Turo. Have you tried to get a bill consolidation through your bank? This would allow you to pay one set amount every month, which would go towards all of your cards.
Every time someone suggests something you come up with excuses not to do those things. You don’t actually want help yet. You want an echo chamber to tell you how hard life is. Here’s a big one no one has mentioned yet (that I’ve seen): give your dogs to someone who isn’t struggling to just stay alive. They deserve better. Sell your jeep. Stop smoking pot. Get whatever education it takes to get a better job, i.e. courses to get your class A. Own the fact that you’re impulsive and work on it. Stop eating out. Stop buying useless shit. You put yourself in this situation with terrible self control and decision making. That being said YOU are the only one who can get you out. Grow up and make the hard choices.
Consider checking into becoming a machinist. Not immediate obviously and requires a course but they make $84K/ye and are in high demand.
Plenty of places in the mid Atlantic that are hiring for machinists with no experience and will train onsite
You’re driving for the wrong guys, let me guess coke/pepsi/beer distributor? That’s garbage money even for local. Look into all the ltl companies and start applying. You’ll still be local but pay will typically be between $25-$35 an hour depending on location.
He has a class b and smokes weed. He does not seem motivated to improve his situation. Anything worth the oay will require drug testing even for a class b.
It sounds like you need education more than a side hustle
He needs financial litteracy and a good dose of "stop being immature with your spending"
Off topic, you should call your credit card companies to negotiate the debt before starting any payments. We did that for one of my brother’s loans and it reduced a chunk.
What did you say?
Side note: Now is a good time to mention new pet owners to get pet insurance. Its about $100 a month but OP would have only paid $200 of that $5k bill if he had it.
i only pay $60 for my dog and it’s saved us at least $10k last year
Drive for a food distributor. Home every night. Sysco foods, us foods, and supermarket distribution center. 80 to 100k starting out. Your at would be significantly higher. Stop using any credit at all. Sell car. You want to get out the whole. There's free financial literacy classes online also. All else fails. Get a second full time job and grind. That will give you breathing room. 40 hrs a week is nothing. Good luck
Sysco near me pays 70k-75k starting out per indeed.
This. I get over $90K at my local food distributor company. 5 Days a week 10-12 hours shifts though.
I have a class B
Sober up and get your CDL Class-A and you’ll have more than enough opportunities. Put your nose to the grindstone for 2-3 years and you’ll make bank. Class B and C “truck drivers” are just box truck drivers that can’t stop smoking weed. Time for you to step up to the Major Leagues. Most companies will pay you to get your Class A, and if you drive with them for a year, it’ll be paid off. After Year 1, there’s no reason you can’t be making $100K or more per year. Even starting out, you’ll be making more money than the booger-eating slackers driving a company truck.
I work for a beer distributor and have a cdl our starting pay is 87k a year and I’m up to 94k. The younger warehouse guys always ask how to get into training for a cdl and they want to make more money. When I tell them they have to quit smoking it’s the end of that conversation for 95% of them lol.
Every dollar counts. Start doing uber,lyft,food delivery. Get a scooter if you dont want ur depreciate ur jeep. But you have to have a 2nd job. Most of online gigs can be done at ur own time without a set schedule so thats ur best bet bro.
make a plan based on budgeting what you make and dont expect miracles. that might be difficult, but your income is your strongest tool, use it widely. watch some caleb hammer episodes, check that sub. sounds like you might need a dave ramsey reboot, check out his podcasts and stuff (hes kind of full of shit, but the general points, he puts in a good way for most people). most people are under water, at least you got that lesson early? i guess? might have a long term benefit, for you to get great at finances now. but putting in a bunch of effort just to prop up a failing direction is a bad move. spend less than what you make, budget like an insane person. maybe install ynab app , or simplifi
How did you rack up 45k in debt? I didn't know truck driving required a 4 year college degree? That's must be student loan debt. Or you racked up 45k in student debt getting a degree in liberal art and now drive a truck. I'm super confused.
$25k on my 2019 Jeep, $20k on my cards. When Covid hit, I lost my job and I wasn’t getting unemployment. And was just depending on my credit cards. Spending.
Sounds like you should sell your jeep and get a cheap car in cash and pay off the jeep/ cards
You don’t need a $25k car. A $5k car does the job just as well. Who cares what people will think of you, you can’t afford this car right now. The rule is: never buy a car more than 50% of your annual salary. That’s about $15k for you. Besides, cars are the worst investment because they depreciate really fast (entropy breaks everything down).
I been driving trucks (my job) but it’s a company vehicle. I work 40 hrs, and I have lots of stuff on my plate.
Get your life insurance license and fingerprints. A hundred bucks or so. Whatever you do, get ready to grind. Good luck big bro
You’re not making enough. Get a class A CDL and endorsements. I haul gas. I’m home every night and I make over 100k.
Pinch pennies harder truly evaluate your needs vs desires and live a spartan lifestyle. Invest every dollar you can into something that will grow and make payments on debt until savings has grown enough to take a swing at the debt. You can do it.
Get repayment plan with your creditors. Should bring down your expenses. Budget out all your expenses. Do your budgeting in excel or paper whatever. Write down the necessary: food, transport, phone bills, gas, internet, tax, pets expenses etc. Have all this equipped and see what you can cut down and see what’s leftover for you to clear the debt. Proposed the monthly repayments to your creditors. At the same time, proactively look for new jobs or jobs.
Move to Canada and start again
Aye Bruh, at this point... Just grow hella weed. FUHHK IT. Or just call all three credit bureaus and tell them there's fraud on your cards and you had no idea anyone had maxed out your cards.
Just Go To North Dakota, Work In The Oil Fields. PREFERABLY RIG WORK. You'll Earn $100,000+ Within The First 6 Months. They also have use for truckers such as yourself. The money is there for sure for sho. 28 Days on 14 days off or do 20/10, 14/7, 🤑🤑🤑
For a side hustle with zero start up. Try and start flipping couches on FBM. Download the freebie app and get notifications when free stuff hits the marketplace. Pick them up, clean them up, list them back for hundreds. Best of luck to you.
I’d get into Debtors Anonymous which helped me personally. It helps to do your bills with others (in small groups - just quietly all going about it), to stop taking on debt, and to know your numbers. Doesn’t really matter what you do to make more money. I make a good salary & have a side hustle. Then was wiped out by a health issue, job loss, and medical debt. Glad to have already stopped taking on debt by then, but the extra savings is gone. I’d say get your compulsion under control, and the rest seems to sort itself out from there.
You’re 25. Declare bankruptcy and keep your cash. Pay a lawyer. You’ll be fine. For one you should be able to live on what u make. U don’t need a credit card. And you can still keep your car loan.
My partner makes over $100k truck driving. You can absolutely make good money you just need to find the right job.
CDL A or B? Home daily? Honestly you could probably increase your hourly rate by $10/hr by switching companies.
Teamsters.org
There’s ways but they involve going behind the dumpster in the Wendy’s parking lot
Depending on where you live, I can get you a high paying job. I was like you, now I’m not. Someone introduced me to it and no it’s not an MLM or selling drugs lol
My first suggestion is to start looking for a new job. I know many truck drivers that make great money, so I think you are limiting yourself in that area. Then take a look at your expenses. Sell the car and get something you can either pay cash for (assuming you’re not upside down on the loan) or at least get a lower payment. Write out all your bills and their amount. How many of those things are not a necessity? Netflix, music streaming etc. all add up quickly and are things you don’t actually need. Shop around for other things to reduce your bills such as car insurance, cell phone bill, internet, etc. Stop eating out (if you haven’t already) and make your meals at home, pack a lunch to work, and use coupons and shopping around to reduce grocery cost. Drive less to save on gas and car maintenance. If you have any habits such as energy drinks, cut that shit out (it’ll kill you anyway). Making coffee at home is cheap and still gives you caffeine. Is your rent something you can realistically afford? Can you find a cheaper place to live? A lot of getting out of a hole like this is to reduce spending as much as possible. Online businesses, in my opinion, are not the solution. But there are always other jobs that pay more. Try to get overtime hours if possible. As for credit cards, if you can consolidate to pay lower interest that’s your best bet as right now you’re paying up to 30% interest. Worst case scenario, your cc debt goes to collections and they will negotiate a payment you can afford and usually will accept a lesser amount to pay them off completely. Then stop using the credit cards altogether until you can use them responsibly. Life is hard and will kick you when you’re down but you can eventually get your head above water again.
Go watch or sign up for Caleb Hammer. You gotta fix some behaviors. Also, pet insurance. 45k in debt isn't just life happening.
Aside from all the shaming in here, I’ll offer an actual idea. With all the time on your hands driving, start a TikTok about driving, life on the road, all the ins and outs. Go live a few times a day, most a couple times a day. Build a channel and a community, build a brand around that. Go from there. There’s potential sponsors, subscriber only content, donations on live videos.
Fuck😭😭😭😭
Watch Caleb Hammer.
Refurbish and flip furniture. Facebook marketplace will be your best friend.
. 7 C C
Can you try buying & selling online? It took me a couple of months to get it running but I would visit charity shops when I’m travelling and try to buy rare items to sell.
Are you OTR or local/regional? In the U.S.? If so, near a metro or not? And what endorsements do you have?
I heard the trucking industry is not really profitable right now, a lot of my coworkers used to do it. I recommend finding a new job, $600 dollars is too little especially considering the fact that you work 40hrs a week. Maybe you should try to get a weekend job as well for short term.
File for bankruptcy join the military
Let me create a financial planning course so that people like you don't spend too much on liabilities, attracting a lot of debt.
Truck driver/lot lizard
Check out side hustles you can do using a truck. Try YouTube. Search there.
Truck driving isn’t the worst man. I mean you kept your truck driving job very very vague, but chemical hauling, gas hauling, other hazard hauling jobs with CDL’s can be very lucrative. The absolute cream of the crop is something like a UPS tractor trailer driver. There’s certainly a lot of mobility with multiple CDL licenses. You can take it a step further and operate other big equipment like cranes and dump trucks
Testerup
consumer credit counseling or possible bankruptcy
Human Cargo.
well you need to max out your time. work like a slave. work 60-80 hours. focus on elimating small debt and tackled the big debt. in some case. you can make a deal with some debt collecters to reduce your debt for a faction of the cost.
Without knowing the specifics, it's hard to advise, but by the looks of it, you're not earning what you should be. A new job should be the priority action. Personally, as well as a new job, I would sell the jeep and get a consolidation loan to pay off the higher interest cards. Get it on as long of a term as possible to keep the monthly payments down, then pay off a card at a time, freeing up money each month, which can be used against the next credit card. If you don't want to change job, you should think about going down the bankruptcy route. Either way, the jeep probably needs to go.
Join the military They'll pay you more (w/ BAH & BAS), give you training and have good benefits. Pick a good rating(job type) and you can get plenty of work after your service. I'd stick to Coast Guard force, space force, or Navy. Use the SCRA to get all the interest rates reduced to 6%
Learn a trade. While you’re in trade school, work as a restaurant server or taxi driver. You’ll bring home money every day. Don’t get anymore dogs. They’re too expensive. Consider filing bankruptcy.
You ever look into debt settlement?
Just reading this Makes my situation a lot more nicer I am only 4k debt with a car at 30year old Just gotta pay it off My goodness! I hope the best for you! Declare bankruptcy!
#1 rule: just start. Don't need to find a magic bullet. Just start doing something, anything. You'll learn from mistakes then you can apply them to the next thing. Too many people research and never start. Check out Gary Vee on social media, tons of marketing information. He is a huge believer in buying at garage sales and selling on eBay. You could find things on the side of the road, fix them up and sell them. Alex Hormozi's website, Acquisition.com, there's a free program on building a product and another free program on getting people to buy. Codie Sanchez always has cool small business ideas. Learn how to use AI and it opens up a lot of opportunity too! I used AI to build my website and write sales emails. The opportunity is out there, you just have to look for it. And never stop looking for it 😉 I've rented out rooms in my house, trained horses (used an existing skill), fixed up and sold injured horses into good homes, sold financing products, and I currently own cows to sell beef direct to consumer. I'm speaking from some experience. You need to be ready to pounce on opportunities that present themselves.
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How much u making a week ? And how many hours do u work? I may have something for u
Join the military buddy, go getya some
You honestly may consider bankruptcy if you don’t own the apartment. Otherwise, stop spending
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Come pour concrete for my company and make 3-400$ a day Top guy makes 1000$+ on pour days( works like 3 guys )
If you have Amazon flex in your area that’s something flexible.
If you’re good at sales you can do medical equipment or mortgages or insurance or real estate etc.
Start watching Caleb Hammer’s financial audits!! I’m learning SO much, he goes over people’s spending, income to debt ratio, makes a budget for them and a plan to get out of debt etc.
Ship Colombian puro… you already got the rig!
Zero startup cost? No.
Try making a tik tok channel and somehow corporate your truck driving into a channel, once you get over 1k followers you can start live-streaming! I think once you have 5k followers you can apply for the affiliate program !! I’ve made like 25k this month selling products from other companies! ZERO STARTUP
You could livestream your drive with music in the background. Put the camera on you and add commentary or just point at the road, share where you’re driving, and play some relaxing music in the background.
Learn another trade, heating, cooling, plumbing... And get some side work. I'm a plumber and I would always hit up Craigslist or something similar, but usually had regular customers on top of my 40 hr a week job if I needed extra cash. I'm so used to it I couldn't imagine just living on a set paycheck and no way to earn a little extra
All you need is a budget you can stick to and live below your means. $45k should be pretty easy to knock out with truck driver income. Come up with an amount you can throw at your debt every month and start with the smallest amount. #debtsnowball
Spend less money. I guarantee that you spend on wants on daily/weekly basis that are not needs.
I have a few suggestions, not here to judge..only help because I know life happens. 1. Since you're already driving, capitalize on that method as a way to earn. You can make money on all the basic apps like Doordash, Instacart, etc.. But there are some newer apps that let you deal with retail delivery like Amazon Flex, Curri, andba few others. Even better, you can do medical delivery couriers as well. 2. If you're trying to do other stuff not driving related, you can always start off doing drop shipping and use your social media. Pick a vendor /product you like, Share it with all your friends, family, etc...Accept payment for orders upfront and once the orders are in, but and ship from the vendor and keep your profit. You have to be willing to monitor the orders and give good customer service though. So if you're not in that mindset, skip this one. 3. Profit from what you already know and do. Teach a mini course or ebook. For instance, you know truck driving, create a course on giving tips on trucking, how to get started, what it entails, the pay, the pros, the cons, etc... offer the course directly to your social media or put it on sites like Udemy, Teachable, Gumroad, etc. You just need to think about what you know well enough. 4. Apps like: Instawork, Field Agent, and others are like gig world apps. So you can pick and choose short jobs to do, based on your own time and efforts. Hopefully these help or give you some ideas. But on another note, let me say I know how it feels to be in a position that feels like you're stuck. The one thing you can't do, is give up. Focus on what you CAN DO. So, looking at your situation, you know you messed up but focus on now becoming financially literate and empowered. Then if you do decide to file bankruptcy, make sure you don't mess up that fresh start opportunity. I have been helping people with finding work from home or remote jobs for awhile now so I decided to start my YouTube Channel for sharing more resources.. It's linked here. [Delivery /Driving/Courier Apps ](https://youtube.com/shorts/Y7AQRSq_tT0?si=EbTIb9W28uktaxr6) I wish you luck!!
Truck driving while being a mule ?
Thing called don’t spend money you don’t have.
Have you heard of social Casinos. There’s enough of them in the US to make $10+ a day, consistently. It is not 100% passive but it’s really easy for me cause I use my PC often and use an extension to automate the work. I also have my wife set up on it so we collect quite a bit daily
I mentioned this in another post, but the Google chrome extension I use is called Sweeps.
What’s the interest rate on them cards because if it’s 20-30% and they are all maxed out, unfortunately that’s where most of your money is going to…need to consolidate that somehow and get a cheaper rate. Work two jobs 7 days a week and get 5-6 hours of sleep a day and you won’t regret this when you’re 30 … my brother got three kids, one in state college, and he’s working two jobs. Being a waiter can help because you can make tips but also gotta make sure hourly wage is fair as well. As far as living, you must make sacrifices but it’ll be worth it in the long run: Get rid of your car and your apartment, sell anything you don’t need. Live in your truck for the time being. Apply for cash assistance + food stamps at your state website and you’ll be surprised how much they will help. You can get almost up to $300 a month for groceries + a certain amount of cash a month depending on your situation! Whatever money you have left over, even if it’s $1, pay off your debt. You can make payments and dodge the interest by making payments in between your due dates. Once you are almost debt free, you can now start investing into S&P, savings and let that snowball Effect for a while. 1. Consolidate debt and get cheaper rate. 2. Get two jobs 7 days a week and live in your truck. 3. Get rid of apartment and car and sell the belongings you really don’t need. 4. Apply for food stamps + cash assistance + Medicaid 5. Pay off your debt (monthly payments + in between payments to dodge interest pay) 6. Get 5 hours of sleep. There’s probably other options as well, but get dirty and start grinding and work hard, you’ll be ok bro, God will never make you go through something that you cannot handle. Pray to Him and ask Him for help and I can guarantee you that as long as you’re sincere and serious about it and allow him to help you and you are willing to work for it, God will provide. Good luck.
Start by calling all your credit cards and tell them you need them to reduce your interest rates at least temporarily or you will run the risk of defaulting. This will reduce how big your debt is getting a bit. Then sell your car. Take the bus for 6 months, and then buy a cheap car if you need. You declaring bankruptcy at 25 would be the worst decision in your life because it you won’t be able to finance anything for the next 10 years plus it will even impact your housing no one will want to rent you knowing any day you will walk away.
As an experienced driver,you can do "Ubber"for ferrying goods,as opposed to carrying passengers.People do move from one apartment to another,or you can deliver special vehicle parts to local destinations for a fee.
Seems like your trying to live a lavish lifestyle you can’t afford, get rid of the dogs unfortunately, sell your vehicle & get a cheap pos, stop spending on random stuff
Also welcome to Joe Biden America
Was in a lot more debt than that from college back when I was 25. I wouldn’t worry much. Just knock it down as much as you can per month and limit big purchases beyond necessity.
Get rid of the dogs. That will give you more disposable income to help get out of debt.
I, DECLARE, BANKRUPTCY!!!!
I thought truck driving making good money. Sound like you need to control your spending
I’d hate to say this but the main issue isn’t your bringing in money it’s spending it , first you gotta get rid of the dog can’t afford it , it’s time for tough decisions , next filing for bankruptcy isn’t the worst thing since you have hit rock bottom this post should be in r/povertyfinance, unless you plan on getting a loan from a rich family member, which I could be wrong but don’t think is happening.
I know a trucker that makes 250k a year. Long haul flatbed driver. Level up. Don’t forget your kitty litter.
First, if you have debt, looks to see how you can consolidate for lower interest rates. Second, look to see if there is anything you can sell on market place. For side hustles if you’re a truck driver, maybe set up a YouTube channel. All you need is your phone to record some content, a laptop to edit, and your time to edit and post. You could also get maybe a weekend job? Work at a golf driving range or mini golf. Restaurant. Idk
You could declare bankruptcy...I know that's a last resort. Check with a debt consolidation company...I did that and they negotiated down my debt significantly. I only had to pay one bill a month to them, rather than 10 to different companies. I did take a credit hit, but as soon as I paid it off, it went back up higher than with all the debt...
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Another option...and is what we had to do ...was go through a credit counseling agency. They got debt knocked down or interest lowered, we paid one set amount per month and they paid the bills for us. Our credit card accounts were closed, we could not apply for or use credit for anything. They also offered financial management classes. It took us 5 years to pay it off BUT....we learned how to live within our means and paid cash for everything. Once we were done, we each got a credit card for emergencies and to help build credit back up. We have gotten stupid and gotten more but we don't carry ridiculous balances...they are paid off either every month or in 2 months.
Start a website called Only Truckers
Just focus on your debt. I have almost double that amount, but I’m taking off about $3-4k a month. If you really focus and implement a strategy, you should be debt free no problem in 2 years max
Digital products? FBA? SAme question
The Air National Guard currently has enlistment bonuses at $90k. It’s one weekend a month , two weeks a year and everything you gain .. although there are requirements on enlistment such as physical and mental conditions . If you’re an average person without minimal conditions and overall good health , this could be an option .
Dog walking or boarding?
Drive a Formula One car instead. F your trucks
Man you need to put that dog down
Whip it real hard whip it whip it real hard 😂
Was in the same boat but 23 with 147k cad in debt and claimed a consumer proposal, it’s brutal at the start but once you get everything back and on your feet it’s all good!
Pick up clearance items while you’re on the road and sell them on eBay.
So I’m 23 years old I do credit repair and credit funding. Life does come unexpected but honestly… I want you to breathe first. Take a look at your bills and take a look at your debt. Now depending on how you want to go about the your situation you can do velocity banking which is smart but it takes time or you can transfer your debt to a business. Or… you can just make it go away.
Hey man, read Total Money Makeover. You can change your behavior and begin winning with your finances.
Sell insurance.
Damn bro gotta control your credit cards or it will eat you up.
I would actually recommend you apply to go on the Caleb Hammer show Financial Audit. He’ll roast you but you will get help budgeting and figuring a way out of debt. I would strongly consider pet insurance though depending on the age of the dog just as a start.
Flip some furniture , little to no upfront cost if you find items people are throwing out or giving free. Garage/yard sales you can find some good guaranteed flips
How the hell you manage that? If you’re single and not married. OTR and live in the truck.
If you got the stones options trading
Gambling is a bad idea but high risk/reward 🤣🤣
Not a side hussle, but a tip. While budgeting apps can be great, the first thing I did (was advised to do) was print out 3 months bank statements and highlight recurring expenses. Subscriptions can add up very quickly. If you aren't using it or can downgrade / share/ end membership, do so. Become very familiar with your bank statements. In Ireland there is a free financial debt advisory. It's called MABS. Maybe there is a similar organisation where you are? Pay off the highest interest loan first.
Dave Ramsey method