Im 17 work one job 25 hrs plus / week go to school and drive a tib when I can? "Answer the the question with a therefore statement." Therefore I am broke. I race bicycles and do tuning and what not on the side for mods for the tib. I dont have a credit card or a debit card but I do have PAYPAL....it cripples me.

Im 19, and work one job at 8.50 and hour Cdn and i work about 30 hours a week, i have a loan out for my car which isnt to bad at all, but i have to pay my cell phone bill.

I also help my mom out with the bills for the house every once in a while and then by the time im done with all of that i have almost no money left over to buy anything for the tib, im trying to save some money now by putting X amount of dollars off of every paycheck under my bed every 2 weeks but that just got all taken away because i just got an alarm put in my car today.

well, i'm poor but i'm not.

i'm 18 (just turned in aug). whne i was 15, i bought (my grandma got a best buy card and let me put it on it) a laptop. it was 1000, plus warrenty, and everything else making it so at 15, i'm already in the hole 2000$. i was working for the past 3 years washing dishes 1 day a week at 6.75 an hour, bringing home around 40$ a week. i just paid that off. i just bought my tib the first week in april, so when i was 17 and making 40$ a week. my bill went from around 700$, to $9000, making 40$ a week. my reason for buying it was because i was driving a van that got 10mpg, and i was losing money putting gas in it to make it to work.

but anyway, i have not had any money untill recently, like the past few weeks, got a job at best buy making 8.25 an hour (starting) and working around 25hrs a week.

now, in aug. when i turned 18, i applied for a credit card. ealy sept i got it in the mail, with a 500$ credit limit. i almost maxed that out with just my school books, but not a week later, my limit was raised to 1200$. maybe 2 weeks later, i had that maxed out, and it still is today (within 10$).

now, i also recently put a 1700$ on the best buy card for a 50" hdtv.

so, turning 18, i am already over $10,000 in the whole, making 8.25 an hour and part time. and that's not including my car insurance (only 50$ a month though ?!) and the studen loans i'm going to have to get out next year. and now with me working at best buy, and the awesome discount i get, i'm not going to having alot of cash left in my check.

i'm not the smartest person. but i do usually manage to get what i want. i mean, under 18 and already have the trust of people for them to trust me with there credit rating, and pretty much hand over $10,000. and still have money to blow on stuff with those bills...i gotta be doing something right.

i was that way going to high school and working 35 hours a week managing. then i lost the job and havent had one for way to long now. now its hard to make minimum payments. jsut make sure you pay off what you can when you have the money

and 50" hdtv = very unnecesary at age 18. ok im just jealous

Mke, I dont want to sound mean but if you consider yourself poor..its your own fault. Just cause credit card companies give you money doesnt mean they like you. They just want to get more money out of you so you can fall into debt and they can collect tons of money on interest.

If I were you Id stop using those cards and stop getting new ones. Your just turning 18 and already are in debt..your credit rating is going to drop if you cant pay those off soon. If you have a limit of lets say..1000 bucks..going over 500 bucks your credit rating goes down. Companies dont like when you do that.

Im just giving you advice..your young and if you keep it up your credit score will be down the hole.

Im not one to talk but my debts are mainly school bills..my credit card debt is only at 3k.

I hope I didnt sound to mean here, and if I did sorry! smile.gif

MKE, you screwed up worse than i did .. lol.
$10,000 in debt and only 18? And in college? How do you plan on getting out of debt exactly man? Sure you have good credit because you make the payments, but, eventually...your payment will be nothing but the interest, and you'll always be $10,000 in debt and paying the $50 minimum every month is doing nothing but taking care of the interest. You need to cut up those cards and start working your ass off to pay that off, otherwise, when you graduate, you're going to be in a world of hurt. Take it from the other 80% of americans that are in debt.

I'm 23 years old, graduating in December with a Bach. of Business Admin in both Accounting and Information Technology. I'm about $30,000 in debt due to student loans, and as of two weeks from now, will be an ADDITIONAL $180,000 in debt due to my new house. Oh yeah, and I've got a wedding AND a honeymoon happening next April and I'm STILL looking for a job! Eyecrazy.gif
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<div class='quotetop'>QUOTE (SwiftTiburon @ Oct 9 2006, 04:07 AM) <{POST_SNAPBACK}></div><div class='quotemain'>Mke, I dont want to sound mean but if you consider yourself poor..its your own fault. Just cause credit card companies give you money doesnt mean they like you. They just want to get more money out of you so you can fall into debt and they can collect tons of money on interest.

If I were you Id stop using those cards and stop getting new ones. Your just turning 18 and already are in debt..your credit rating is going to drop if you cant pay those off soon. If you have a limit of lets say..1000 bucks..going over 500 bucks your credit rating goes down. Companies dont like when you do that.

Im just giving you advice..your young and if you keep it up your credit score will be down the hole.

Im not one to talk but my debts are mainly school bills..my credit card debt is only at 3k.

I hope I didnt sound to mean here, and if I did sorry! smile.gif</div>


3K IN credit card debt?? DAAAAMN!! What are you shopping for?

^Nothing lol. That 3k was for the tib and for food when I didnt have cash.

I didnt buy crap with it believe me. (Though I know you were probably being sarcastic anyway tongue.gif)

edit: i dont think you were being mean or anything, you dont think i didnt have second thoughts after getting the car, and all the other stuff. and also keep in mine i'm 10,000$ in debt, but only 1000$ of that is credit card debt which is going to be paid off before i start paying interest on it. everythign else right now has interest included in the payments, or in best buy's case the payments are high enough to make it so i'm within the 2 year no interest and stuff.

also, the 50" hdtv was dumb, but that was also kind of my graduation present. my new laptop i just got, was free because of best buy's lemon policy, they gave me that much money (1250$, because that's what my old one was before mir's) so i didnt need to buy a new computer so i justified the tv to be my computer.


no, poor i am not i guess, just really broke/dumb with no savings, and...the reason i say i'm poor is because i really have no money. i have no cash (right now i have 40$ for the next 2 weeks). i have nothing saved up. if anythign happens and i need to fix something, i cant. everything of mine is "credit".

yeah, i am pretty much f*cked. i know. and if your watching the for sale forums, i'm still buyin shit.

and i can make the payments right now.

my car is only 150$ a month (5 yr)
my best buy bill is only 50$ a month (right now)
my credit card bill, even at 1200$ (and i never went over, they raised my limit. i know they just want more money, but i'm interest free for the first 6 billing periods, and i know ill have that paid off just because in the next few weeks ill be getting a 700-800$ check from financial aid for school) is only 25$ right now.

my car insurnace is only 50$ a month, because it's in my grandmas name and i did drivers ed.

so a month, i already owe figure 300$ a month (just because i pay more then the min on the credit card.

at best buy, making 8.25 an hour (in 20 days it'l go up to 8.55, and when i get into the geek sqaud after the holidays, that's supposedly a significant pay increas because it's a technical job, but ill do this with 8.25) and working 20 hours a week (again, going to be around 30-35 during the holiday season, but ill do it with 20)

my first check, after taxes i got $7.61 an hour, so ill do this off of that actually.

7.61 X 20 hours= 152.20 a week, so 304.40 a check (bi-weekly), or about 600$ a month.

so, already i'm only getting 50% in my pocket of what i make.

but that's not including school. now, one thing i didnt say in my original post is that right now, financial aid is paing 120% of my shcooling. i get 2700$ a semester, and starting off at nccc (community school) i'm only paying 1700 for tuition, and this semester i only had to get 3 books (50$ english, 100$ c++ programming, and 125$ math book). and like i said, all of my school stuff (not just books) is went on my credit card, but in the next few weeks i will be getting a check for about 700-800$ which is all going on my credit card. so my bill is gonna go down on that too.

where the problem comes in is when i transfer to RIT (so far rit, havent 100% made my decision, since i have some time) i know i'm going to have to get out a student loan, i just dont know for how much, but i know my sister has $60,000 in loans, and she's going to fredonia for teaching (30 of that's when she went to a private school for music) so i'm assuming around 50,000$ in loans, just so i know ill have enough.

now, i'm good right now on all my current bills. and i'm going to school for electrical engineering, so i'm not that worried about being able to pay off my student loans.

so yeah, that's my story. yes, i realize that's perfect if everything stays as is and i have no problems. especially if i have no savings or anything else. and i also know about the credit card. that's why i do only have the one, and honestly mainly right now it's only got my school stuff and gas on it (probably 250-300$ of gas, just because for the past month going back and forth to school and trying to find a new job, i'be been doing ALOT of driving and didnt just get my first check from best buy till the 6th, and dont get another one untill the 20th)