I need help!!! How can I recover from this financial mess I got into??

Well I'm a firm believer in only pay for what you really NEED. Cable is not a need. Camp is not a need. Yes, both of them are nice, but not really needs (even if people think they are). Rent IS a need. Car payment IS a need.

I'd maybe start with calling both of those places and asking them if you can delay payment without too much of a hassle. Then I'd either cancel cable or at least see about missing a month on that instead of rent. Then I'd really cancel the girls camp if I had to. I'm not sure what a payday loan is? Is that one of those extremely high interest rate loan places that gouge you to death? If so, I'd make myself swear to never do that again. Not financially wise at all.

The only way to not end up in this situation again is to either 1) earn more with another job, selling stuff, etc. or 2) spending less like the cable, any other non necessary items you buy.

Good luck.

When you say payday loans, do you mean the 'Cash now!' loans with crazy crazy interest rates?

 

What was your reasoning to get a cash loan that you had to have that money? They are a horrible trap, you obviously didn't have money for something if you needed the cash but now you have your bills plus those loans. My first piece of advise would be to NEVER get one of those loans again. Never ever, I can't stress that enough.

 

What does your income and necessary expenditures like rent and food look like? Is your income high enough to cover those or not? If you took out those loans obviously this isn't the first month that things are tight or behind, so trying to pay things this month won't necessarily fix things for next month. And depending what you do this month you can set yourself even further behind the following month.

 

If you are using credit cards, STOP. If you are using them for points you absolutely have to be extremely disciplined in paying them off in full every single month. Do not carry a balance.

 

You have a car payment, is that car necessary? Could you trade it in for a car that you'll own outright and eliminate that payment?

 

You don't need cable television. Cable for internet possibly depending on circumstances but you can access it free at the library or with wifi.

 

If you're worried about being able to pay rent I'd say that probably constitutes not having money for kids to go to camp.

 

You don't have to do "major shopping" to have a large effect on your accounts, what about all those little purchases that add up. Fast food and take out is a problem a ton of us have (myself included). The fact that you don't know "how this happened" is where you need to take your first step. Pull out your reciepts or your bank statements online and look at where every penny is being spent. If you don't know where the leak is how can you plug it?

 

Some of us has posted pretty comprehensive budgets in the past, maybe we could help you out there or help you come up with one. Until then the only advise we can really offer is to not spend money on things you don't need, and suggestions on ways to save money on the things you do need. That's all just rainbows and sprinkles though unless it's being followed through on. We can all agree it is much easier to say what you are going to do than the actual doing.

You need to call all your creditors and ask them for help with this--maybe they will allow you to pay in installments. 

 

I agree with all that Aliadam has said.  Stop paying for the extras and do without for now until you can get above all of this.  Camp and cable are things that are not needed right now.  Look into other monthly expenses to eliminate as well--maybe even your landline if you have a cell.

 

DO NOT get anymore payday loans.  I would rather see you use a credit card than get one of those.

 

If you have any family members to help you with a small loan right now, it would be a good time to ask.  I know my own folks would help me in a minute and not ask for the money back until I was back on my feet.

 

Contact the kids school and see how they can help by eliminating any fees they might normally charge.  I'm sure you must qualify for free lunch and other subsidies.  If not, check into how this is done.

 

You definitely should find a second job too.  That will be tricky, but it does seem like the only way to pull yourself out.

 

Good luck!

I agree with what aliadam has said so far.  Those Payday loans will really get you, I used to get sucked into those too, and you just never can get ahead once you start doing them.  It sounds to me like the reason you got into this is that you do not have a clear budget.  If you had a budget you would know where you money was going and why you are so behind.  That is my advice to do first is create a budget, then do the things aliadam stated.  You may even be able to get your rate with your cable company reduced without giving anything up.  When I needed to change my budget I called the cable company and they gave me a reduced rate and didn't change our package.  For now, you may need to give up some of the luxuries like cable that you are enjoying so you can get ahead again, then you can add those things back as you can afford them.

Can I say breath. Take a deep breath.

 

Its time to make a plan and get organized.

Also look at what each obligation is costing you. Is it something that they will fine big time if you are late. 

 

It also seams you have things you can't afford. Your Cable bill is due. If you are having to take out payday loans to get by then cable is not a Need it is a WANT.  Why are your girls going to Summer camp if you can't afford the rent. Look at ways to make things less. 

 

I really wanted my daughter to do summer camp. The camp cost 100. She got in for $42 because I registered her early and worked in the camp. Talk to the camp see if there is anyway to have them work with you.

 

I do a lot of forecasting. I have a spread sheet set up with the date something is due, what it is, how much it is, and a running total of it coming out of my account. How does this help me is that I am always looking weeks or months ahead. I set aside money every paycheck so that there is always funds for the mortgage, for groceries etc. 

I am also keeping my checking account balance low. Every week after I set aside the funds I will need to save for the large end of the month bills. I pay my bills I have due that week. I look at how much I have left and take 100 to leave in the account. The rest the little that is left over goes on my credit card. 

 

The point is you need a system of tracking where your money has gone and where future funds will go.  Right now you need to look at what you absolutely have to pay now to meet basic needs. 

 

No one is perfect we all make mistakes. Talk to those you owe money too see if they will work with you. We had a huge utility bill in June that was six times the normal bill. I called them up and I will be paying an extra amount for the next several months. Point is I called told them I couldn't pay it and they worked with me. 

 

Hope this helps

Then reducing all the bills as far as possible and elimating the unnecessary ones is where I would start first. That effect is immediate. You got a raise so that is increasing your income which is fantastic. A second job would also be a good idea, just be careful with at work at home jobs that require money from you to start. We have a work at home forum here which has quite a few legitimate jobs. You could also try to babysit other children when you are home, there is generally a demand for that.