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Man, I'm BROKE

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  #1  
Old 11-20-2017, 06:39 PM
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Default Man, I'm BROKE

I don't understand it, I make great money, over 100K a year and I am broke as hell!

My only debt is house, wife's truck, and my Harley. Everything else is paid for and I still can't afford squat. Depressing this time of year when I want to buy gifts, but I don't have the jack? Recently wrecked my RGU, and my family wants me to get rid of the bike and get a car....again. Even if I wanted to I can't afford it. The bike, the insurance, and the gas is right in my range.

How do you get through "the lean years" without selling everything? I am always stressed over money and can't figure out wTF???
 
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Old 11-20-2017, 06:45 PM
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sounds like you need to spend some time with Poor Richard and his Almanac while you're working second shift at Sonic
 
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Old 11-20-2017, 06:45 PM
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Dave Ramsey Baby Steps. You can get them through his web site but for more detail - his book is excellent.

Best of luck.
 
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Old 11-20-2017, 06:47 PM
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Dave Ramsey says sell everything...don't put money in 401K until your house is paid off, and never buy using credit...Uh, I'd still live with my parents if I did that.
 
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Old 11-20-2017, 06:48 PM
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Well, considering I'm retired and you make about $90,000 more than me, my heart bleeds peanut butter for you. But if you're broke making that much more, I can't help you. Sorry.
 
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Old 11-20-2017, 06:49 PM
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You say your debt is only your house, wife's truck and motorcycle. What you don't say is how much you signed for for each of them
 
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Old 11-20-2017, 06:53 PM
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My Step Daughter and Son in Law follow the Dave Ramsey way, it works...Johnny, take your time and put everything on paper, Spreadsheet preferably...
Account for every dime... Do you smoke, drink, go out to eat a lot? Re assess what you are doing right and wrong...
You make decent money,,,adjust the way you live...
 
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Old 11-20-2017, 06:58 PM
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It's always something-$100K is starvation income in NJ, a little less so in a decent area in FL. Don't know cH!t about TX, but sounds like you need some financial counseling, especially living in a low tax state. Good Luck, and load up on rice and beans!
 
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Old 11-20-2017, 07:10 PM
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Notgrownup has good advise. I have a good friend that sounds just like you. The last time he was complaining we sat down and discussed ALL of his expenses. It didn't take long to figure out where it was all going. As mentioned, set up a spreadsheet and track every dollar like it is your job and you will figure it out. From there it's a matter of setting goals and making good decisions.
 
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Old 11-20-2017, 07:15 PM
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You neglected to share with us the only thing that matters in your first post: How much is your monthly house payment? Total, including principal, interest, property tax, and homeowners insurance.
 
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