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Question for the Money Doctors

Question submitted on Aug 21, 2013.

Question

Hello, I finally have a full-time job, but am in deep financial crisis. I owe my unbelievably patient land lord several thousands in back rent. I have been cutting the property grass and cleaning apartments for him because I did not have an income to pay the rent. The job that I have is $9.00 and hour or roughly $561.00 per pay check after taxes. I have been trying unsuccessfully to locate a roommate, but so far no luck. I know that I need a cheaper aprtment if I am ever going to get out of this hole I am in. I am planning to get a second job as soon as I solidify my work schedule. I am very much in need of advice as to what my next financial step should be.

Answer

It seems like your landlord has been gracious. There are a number of steps to take. You should continue to clean and cut the grass and other jobs that the landlord needs you
to do to get caught up with your back rent. The second job is a good idea. The other is to begin to train for a job that can earn more money. I was at a meeting where a technology company said it takes 8 months to get a certificate that they pay those certificate holders 50,000-90,000 per year. That certificate can cost as little as $475 if taken online. While I don't make an assumption if this is right or wrong, you should investigate what may be right for you. My one caution is avoiding student loans. You MUST pay these back and the penalties for not making payments skyrocket the costs to pay back that can never be discharged by bankruptcy. They even have the power to seize part of your social security check for payment.


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