I'm 54 With No Retirement And Only Make $16 An Hour

Xander shops all the top term insurance companies to save you money. Get started at xander.com. I'm 54 years old I've been a widow twice. Oh, I have no retirement saved And my income does not just not It doesn't cover my expenses I had credit card debt and I Got I ended up having to call National Debt Recovery to turn those over to them and it wasn't even a lot of debt It was just $10,000 That me and my past husband had incurred paying his medical bills So after he died it left me with that debt and and I had one income instead of two So I went ahead and turned those over in and I just recently paid one of the smaller credit cards that I just refused I don't have a lot of debt, but it doesn't I'm just not able to Pay pay my bills and I've sold Everything that I could sell that I can live without my downsize I got rid of the truck and downsize to an Economical little Mazda 3 that I drive to work. I work 45 minutes away What do you make? I make $16 an hour. So I end up bringing home depending on the week it's anywhere from 1,500 to a thousand every two weeks and The little Mazda 3 is that paid for It is actually not paid for yet. I still own like 2,500 on it and I only bought it for 4,000 It's got 200,000 miles on it, but it's a decent good car. What do you do for a living? I am a front desk I take copays Collect I've worked for a doctor's office. Okay. Gotcha. Okay. Can you walk us through your debt the remaining debt? You have go smallest to largest smallest to largest Smallest would be it. Can I just go down the list the way I wrote that? I'm sorry, the house is 800 a month and I still owe 124,000 on it. I Don't think I could rent cheaper the payments right now. No, I don't even think I could rent cheaper You're doing good there the health insurance I don't have to go through the market and it's for me and my child It's $50 a month. Well, I don't need your monthly bills. I just want to know your debts. Oh my dad. I'm sorry Okay, that's all that's all fine What I have left in debt is the car which is right at 2,500 And I already got rid of the credit card the other credit card But then I have that 10,000 that I've turned over to National Debt Recovery. Okay, that's actively being They're actively covering that Yeah, they take a hundred. They just started after Thanksgiving last year They start they take a hundred and fifty out of every paycheck for 29 months. Oh boy Can you can you get out of that? There are basics every family needs food shelter transportation and term life insurance Term life is simple. If you pass away it pays money to your family so they can keep paying the bills Protecting the people you love is part of winning with money and when you're ready to do that go with who I trust Zander insurance Zander shops top companies to find the right coverage at the best price and they've earned my recommendation For nearly 30 years go to zander.com today. Can you can you get out of that? What's the penalty for counseling? I'm not sure. I want you to check into that Okay, you might be on the hook for some fees But all they're gonna do is stack those $150 payments off to the side and they're gonna let this default and then they're gonna try to make a deal That's what they're gonna do And that's honestly something that you could do yourself if you chose to do but I don't know that you need to do that just yet That's gonna tank your credit. It's gonna yeah, it's not good And like I said, there's usually a good amount of fees attached to that So I would if you can get out of that and it's it's reasonable I don't know how much you've already paid in but I would get out of that Pretty much immediately. So after the car the 2500 and after this 10,000, is there anything left? Is there any other debt? No, no student loans. No, nothing like that. Okay, so the good news is The good news is your mortgage is awesome. The $800 a month. You're right You can't rent cheaper than that and the good news is you've got twelve thousand five hundred dollars of debt Which under the circumstances, I don't know why I was expecting but I thought it was gonna be a lot more now The problem is if you have a month-to-month income issue and there's no margin that twelve thousand five hundred dollars of debt Feels like a mountain just because you're struggling to eat, right? Yeah, I want you to so let's dive in with JJ. It's the budget Queen. Give us what where do you think? You're spending too much money That's just it I don't know I've went through let's look at it you make 3,000 a month give or take right Yes, right less than that. Actually, it's more like I Know and I work two jobs. So it's more like this is a second job It's about 2,500 a month then it's an income crisis is what you have because no matter what you do That 2,500 is not going to feel like enough. It's it's very hard to live on working two jobs I only heard the one job. That's 16 I'll do the 16 an hour and then the same company they asked me if I would clean my office for a hundred and twenty dollars every Friday Okay, so that's that's after hours. That's the second job. Yes, but none of them are 40 hours a week The the $16 an hour job is 40 hours a week and they let me work over all the time to try to help me Well, that's good news, I mean I feel like all I do is work I go in at 8 and I don't get home to say I know but I think we need to get you a higher hourly. That's the problem I do I think that's the transition But I also I believe if you'll let Jade walk you through this here for a couple minutes a lot of detail I I gotta believe there's there's there's some budgeting issues going on. Let's try to find it So after let's say you're making 2,500 after the 800 that leaves you with 1,700 Then you said for each you and your your daughter. Did you say it's 50 bucks a month for health insurance? Yep, so a hundred total Okay, it's both of us both of us are in there for 50 Okay, so that takes us down to 1,600 or 1650 what next what else the water is 35. Uh-huh. What else Rick's 180? Okay Progressive car insurance is a hundred. Okay I have a woman Gerber Life insurances that my mother got on me that if I pass away it gives my child $10,000 to bury me It's $7 a month. Okay, we're gonna cancel that immediately, but it's seven bucks. Okay, what else and then of course now? I have the new National Network relief of 150 Okay, fine. What else so cell phones are 90 Do you do like a consumer cellular or who are you with? We're with cricket. Oh, okay. Good. That's just for two phones. Uh-huh Internet's 90. Mm-hmm And then I have a life insurance that I've but since both husbands passed away and left me with nothing I couldn't even hardly bury them. I didn't want to leave my child like that So I took out a life insurance plan of 250,000 free and I pay six for me Is it is it term life? Did you do it through Xander? Yeah, I did it through shield. Okay I want you to I want you to call up Xander and check it through with them and make sure it's the best possible option If not, you might be able to pay a little less because you said you're paying 248 a month or a quarter I pay $69 every three months. Okay, okay 50 for a year. Okay, we got it, but we got about 40 seconds right now I'm I'm seeing you with 900 extra dollars. So what are you spending on food? We don't I'm honest We If I have a little bit left over we spend about 110 if we have anything left over Okay, so that's me that leaves me on my checklist here. That means you got 830 some odd dollars to spare We're gonna give you every dollar and you're gonna plug this in and you're gonna do just what I walked through with you Every single item that money is draining somewhere and you don't have the margin for any drains right now And I believe that you do need to find something that's gonna pay you on high a higher hourly rate than $16 an hour That is where your primary struggle is. You're not going to be able to side hustle your way out of that low core income Xander is the best place to find term life insurance to protect your family visit xander.com for quotes today