I totally get it — I worked as an RN paycheck to paycheck for years, too. Generally speaking, most people have spending habits that get them into trouble. But that’s certainly not always the case!

It sounds like you’ve addressed almost everything you can, which is a huge first step. It’s nuanced but when there isn’t room for saving/side hustling/anything at all, it takes sitting down and addressing everything to a T to get things heading in the right direction.

You may have several of these in place but if you don’t, things that may help:

1) A budget — it sounds overly simplistic but if you’re not budgeting, it’s going to be difficult to break the paycheck to paycheck cycle. Determine your mandatory expenses and cut everything else, at least until your head is above water.
2) An emergency fund. The random expenses are killer. Build one and rebuild one over and over if need be. Get to $1,000.
3) Aggressively pay down your smallest debts and use the freed-up cashflow to pay down the next smallest debt (this is essentially Ramsey’s debt snowball, but any positive momentum in your situation would be a win!)
4) The second hardest of all: consider a lateral, but higher-paying, job transfer. There’s literally no shortage of nursing jobs, and some pay infinitely better than others. If you’re burned out, consider a change that fiscally moves you in the right direction. A few dollars per hour is thousands per year in increased income.
5) The hardest of all: consider trimming living expenses/LCOL areas. Housing and vehicles are likely you’re largest two expenses. A $100/month reduction in either is huge savings. If there’s a comparable living situation or vehicle (ideally both), jump on it.

4) and 5) are huge decisions — and certainly not ones people are comfortable regularly making — but spinning in circles and going further into debt is an untenable situation. This is obviously super generic advice, just want you to know you’re not alone! Happy to help with specifics. 🙂

I’m an RN. I am utterly exhausted, so finding a side gig is not feasible. I am paycheck to paycheck and often have less than $100 to my name. The cost of living is out of control. I use credit to offset, but now debt is out of control. I live in a small apartment, barely have clothes…it’s always those random expenses that get me. Car troubles, medical and dental bills, kid expenses…don’t tell me I need to save…with what? Don’t tell me I need to not spend so much…I don’t! Don’t tell me I need to work harder…I work my tail off; blood sweat, and tears. The rich get richer the poor get poorer. I am already making myself sick with how much I work and take care of other people.

That definitely sounds like a tight spot to be in! When you’re already being super frugal, can’t cut expenses anywhere else, and can barely make ends meet, the only way to escape the current situation is to generate more income (easier said than done, I know).

Are there any expenses keeping you in your current location beside the cost associated with a move? Moving from a HCOL (high cost of living area) to a LCOL on the same income ($15/hr, or $1 above minimum wage), can make a huge impact on your finances. It’s a huge sacrifice, but it sounds like one you’re willing to make.

If so, it may require working a few overtime shifts and/or picking up a side hustle or second gig to save the necessary moving expenses. Similarly, taking on short-term low-interest debt to escape your area, may improve your financial outlook drastically if you’re committed to paying it off in a time-sensitive fashion in the new LCOL area.

If you’re genuinely stuck in your area, many of the same advice applies:

– Continue to look for jobs within your field, especially if there is a monetary incentive.
– Consider even short-term gigs that offer higher pay (even if not within your field), as a means to an end/stepping stone to better your outlook.
– Work, slowly, to build an emergency fund, even if it’s just $10 to $20 a month, in a secondary bank account so that a financial setback doesn’t ruin your finances.
– Work to eliminate your smallest debt as quickly as possible; the freed up cashflow can be used towards another debt, or simply to give you some breathing room in your budget.

It’s very difficult when you’re just treading water, but there are ways out, even at the bottom. Any questions, just ask!

While your advice might be of use to many people, there are many of us who can’t follow a 50/20/30 rule, not because we don’t want to but because of how low our income is as compared to general inflation. I was saddened to hear your 50 percent budget plan for basic essentials is the same as nearly the entirety of my monthly income. I am a college-educated woman who holds a bachelor’s degree and I have applied to multiple jobs within the qualifications of my degree. While I do not have job experience in my field, I do have work experience in different areas of service dating back to about six years ago. I work a job that is one dollar above the minimum wage and I work full time. I live in California where the state alone will try to take anything from your hand, will you allow it. And if you ask, I would definitely move out of this state if I could save enough money to leave!

I decided 10 years ago when we moved to Michigan that we were going to pay off our house in 5 years and at that point, live without debt, put money away and live different than everyone else. Our one place we spend is on eating out, but we always get it to go because it is much cheaper to get food and eat it at home than it is to eat at the restaurant.

I only make $65,000 per year with no employer provided health insurance, but in 10 years, we paid off our house, have no debt and have put away $120,000. You can’t control how much you make, but you can control how much you spend.

People need to shop around. Prescriptions can differ from $10 to $300 depending on where you go. Go to different places. Don’t go to the grocery store with a plan on what you are making unless you made that plan with the ad. Buy things that are on sale.

It is really not a difficult thing to do. People are just careless with money.

Looks like you piece of mind without having think about debt

Such good stuff!

Maybe if you’re free one afternoon I’d love to turn your story into a blog piece if you’re willing (an interview). If I dont hear from you I may shoot you an email 🙂

That’s seriously an amazing story – like super impressive. Most people who have significantly more income struggle in ways that you’ve overcome.

And your head is totally in the right place. Crush that debt – its the most important thing you can tackle right now (even more important than investing at the moment).

Make sure you don’t stretch yourself too thin (keep slowly building that emergency fund too).