How can I get out of debt?

[Village Idiot™]

I'm 34 years old and had to move back in with my parents. I finance two cars and a motorcycle and have a lot of money in credit card debt and I'm living pay check to pay check on about $60k a year. I'd move out but my mom does my laundry and housing around here sucks. It's either live in a ghetto or pay $600 a month for rent + utilities with having at least 2 roommates.

Can you guys help me learn how to make money on the stock market or something? I'd like to be indepenently wealthy but I don't know what I have any special skills to achieve that. Is bankruptcy an option?

[X37]

Buy and sell gold and silver. Wake up at 6am sat and go to yard sales. Buy junk jewelry and sell it as scrap gold silver. Make sure you know what your buying just because its not magnetic doesn't make it gold/silver. Also look for collectables at good prices. I bought a $200 Gucci watch last week for $30

[gnavs]

Bid on unpaid storage units and profit from the sale of the precious items inside.

[dunhamjr]

$60k and cannot afford to live on your own??
you are ok with sponging off your parents, but not ok with having roommates.

you fail.

nothing in this world entitles you to have two cars and a motorcycle.

you are 34 grow the F up. get rid of AT LEAST two of the three vehicles.

then immediately move out and get your own place.

once you figure that out. start reading and learning just like everyone else had to do.

thats all the help i will offer.

[Egilbe]

yep, sacrificing personal freedom for "things" is not the way to go about getting out of debt. The simple matter is you either stop spending money or you make more money or a combination of the two.

[rich!]

troll thread? if not -> get a job at a bank.

[Haxes]

I'm gonna *try* to not sound like a dick, but no guarantees. If you're living paycheck to paycheck making 60k/year (in West Virgina) you're wasting WAY too much money. To begin, a motorcycle is a luxury hobby, and you by no means need it, especially if you're living with your parents because you can't afford your own place. First thing is to get rid of the bike, and pay the loan off with the money. Second, I'm going to assume your credit card has the highest interest of all your loans, if not apply this advice to whatever is highest interest rate. Pay it off as fast as possible. Pay any extra money you can towards the high interest crap to avoid paying even more money in. Contine this until all your debt is paid, no excuses. All that money you're making, and not saving means you bleed cash. I'm guessing you go out to eat all the time, use vending machines at work, stop and buy drinks at gas stations a lot, maybe you smoke? maybe you drink a lot of alcohol out at bars/clubs? This behavior, fun as it may be, bleed your account dry. I did the math a few years ago when I drank a lot of soda, and I was spending roughly $110 a month on buying soda at work. I quit drinking soda until the weekend, and I save a fair amount of money. My wife and I also try to limit going out to eat to once or twice a month, saving tons of money. I used to drink, some may call it heavily some not, but when I looked at how much money I spent drinking I gave up alcohol all together. I haven't had a drop since. These are seriously EASY things to change, they just take a bit of will power. An example of where you should be, I'm 27, married, two kids, I make about 10k less than you a year. Not only do I support my family, I have 3 cars, one for the wife and two for me, all paid off a while back. I own a house, and contribute heavily to my own retirement fund, and my kids college fund. Our cost of living here is about the same it is for you. I would HIGHLY suggest doing a budget for yourself. Include everything from snacks, cigs, soda, etc, and be honest. A budget will show you what you need and don't need. Good luck

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[mauslick]

wow this is the most entertaining thread for awhile.......

this is the plight of the american dream

everyone wakes up one day after a spending binge and says "what I have to actually pay for stuff?"
then the "how can I get out of this quickly" and most times unethically....ie the american gov't' and banks

how about becoming a proffesional gambler? take a second job? buying lottery tickets?
become a pimp? get a reality show "I spent too much no what do I do"
remember you are the creator of your own problems and often times ARE the problem

FIX THE PROBLEM

[AIRider]

I'm 34 years old and had to move back in with my parents. I finance two cars and a motorcycle and have a lot of money in credit card debt and I'm living pay check to pay check on about $60k a year. I'd move out but my mom does my laundry and housing around here sucks. It's either live in a ghetto or pay $600 a month for rent + utilities with having at least 2 roommates.

Can you guys help me learn how to make money on the stock market or something? I'd like to be indepenently wealthy but I don't know what I have any special skills to achieve that. Is bankruptcy an option?

Stop trolling, go back to OT. You posted this shīt in another topic saying how you're gonna post this in the money forum.

[blue70beetle]

The sad thing is I can't tell if OP is trolling or serious...

Single and living with parents, making $60k? While I was making that, I was the sole income for our household (wife and three kids), cash flowing the house renovation we were in the middle of at the time. Oh, and we didn't have payments on two cars and a bike.

A bike and two cars financed? You're an idiot - sell exactly one bike and two cars, and buy a beater for a couple grand. Then kill your CC debt in about 3 months (should be easy unless you're something like $50k deep in the CCs).

And before you start any of that, cut up all the credit cards and throw them in the trash, because you're clearly out of control and have created a mess. If you do this, you actually have a chance of not going deeper into debt...

[AJB]

All I can say is that the OP has an appropriate vortex username if he can't live on 60k.

[Hostile]

I'm 34 years old and had to move back in with my parents. I finance two cars and a motorcycle and have a lot of money in credit card debt and I'm living pay check to pay check on about $60k a year. I'd move out but my mom does my laundry and housing around here sucks. It's either live in a ghetto or pay $600 a month for rent + utilities with having at least 2 roommates.

Can you guys help me learn how to make money on the stock market or something? I'd like to be indepenently wealthy but I don't know what I have any special skills to achieve that. Is bankruptcy an option?

Obvious troll is obvious.

[FlashRedGLS1.8T]

Obvious troll is obvious.

Bunch of suckers.

[deagle]

OP needs to get rid of 3 vehicles and walk or bike or mass transit

if real, check out consumerist.com on how to use the their method of clearing debt by consolidating and focusing on the highest rate first

also forget about freezing the credit/debit card ... outright cut it up

set up direct deposit into a savings account