First I hope you actually read what I said in my original response. That being said I can almost positively assure you that you are not living in your means "you spending as little as you can" because you are using the internet which is not free and it is not necessary unless it is used in business. So there is one place that you have a want and it is really not a need. My guess is you have many more like this for example cell phone is another as that is a want for most not a need using the definition of want and need I gave in my first response.
For several years in my duties in management I would work in the area to cut a companies expenses and in every company I did it I was able to cut them between 10 and 25 percent and still maintain a growing and working environment without cutting pay or employees.
I can almost assure you I could cut your expenses but at least 25% if you really wanted to get serious about paying off your debt and staying debt free even at your current level of income.
The problem is that very few people or companies who cry about expenses and debt really want to be free from either. What they want is more money and then they simply go deeper in debt with bigger toys. Living debt free is a sacrifice unless the person is so rich they have everything they can think of and cannot think of where else to spend their money. While there are some like that they are few. So my guess is you can get out of debt on your current income, but most likely you really don’t want to do what it takes.
If this turns into an argument I am backing off…
No I have listened to Crown enough times to know that with some the problem is income and with others its lifestyle problems. In fact I had their president Chuck Bentley and a MM Coach both tell me I needed an income increase to tackle my debts.
That said my internet is essential as I live with a roommate who also needs it, and I use it to pay bills, shop, and look for a better paying job, not also including keeping in touch with family. Doing this would be next to impossible relying on public computers given their limited hours and my work schedule in my area.
Second my cell phone is necessary. I use it to keep in touch with family, and its been a life saver in the past when I have been in danger. There have been many times when I drove around a cheap non loan car and the thing broke in the woods, or in an area where if I had no cell phone I could have been in some real trouble.
What can be cut? Well TV/Internet can drop from $95 - $55, but current roommate wants the extra channels. Maybe the next one will allow the cut. Cell phone (BlackBerry) is as cheap as they get at only $65 a month.
And besides even if I were to cut those expenses its not gonna get me to be able to make a minimum payment on my larger loan. Like what Crown said, I need an income increase. Gonna get out some applications this weekend.
John
