I'm Making Myself Sick

At the beginning of the semester, I got my refund check which was a little over $5,000. I had to pay a few family members back, so that brought it down to around $4,000.

I was so happy because with this refund, I would be able to buy books and pay for my rent at my new apartment (which is higher than I'm used to). I also have a part time job, but with school, I'm not able to work as often as before.

Fast forward to now, I'm not broke. I still have some of my refund available, but it's running VERY low. As in, if I even use it to pay my phone bill, I might not have rent for December. And I told my mother that it's running low and that I'm not sure what I'll do about January if I don't get my refund for the spring semester by then.

I'm falling behind in classes and I'm afraid I'll lose my financial aid altogether. My sleeping schedule is terrible and I actually have made myself sick from worrying about all of this.

I'm trying so hard not to worry because things work out and I still have two months. But, I've had a panic attack nearly every day for the past week just thinking about this. Because I have no other options right now. My family can't help and telling them exactly how much I have left of my refund will just add more fuel to the fire. So I can't even confide in them.

I've been laying here for three hours trying to stop crying because I feel like I'm drowning under the pressure of school, work, and possibly not being able to pay my rent.

I don't know how to fix this.

It feels like something's not adding up here. So you started the year with, essentially, $4,000. You have financial aid. You have a part time job to supplement it. I get that it's never easy in this day and age balancing university and finances, but there's gotta be fat somewhere that needs trimming. Why a more expensive apartment? Are you living alone when you could be having roommates and saving money? Are you attending a university you simply can't afford? Do you have a Ramen stockpile to hold you over? Newer car than you need being paid off? Unlimited data plan on your phone you don't need?

I'd sit down with someone who you know is good with finances and living frugally and swallow your pride while they give you a no-BS assessment about what you can do about it.

You parents may be aware that you burn through money too quickly. Consult someone on campus about financial management, part time work and start learning to save and reduce your expenses. But don't lie to you parents about the refund, hoping they will help you out.

My family can't help and telling them exactly how much I have left of my refund will just add more fuel to the fire

It feels like something's not adding up here. So you started the year with, essentially, $4,000. You have financial aid. You have a part time job to supplement it. I get that it's never easy in this day and age balancing university and finances, but there's gotta be fat somewhere that needs trimming. Why a more expensive apartment? Are you living along when you could be having roommates and saving money? Are you attending a university you simply can't afford? Do you have a Ramen stockpile to hold you over? Newer car than you need being paid off? Unlimited data plan on your phone you don't need?

 

I'd sit down with someone who you know is good with finances and living frugally and swallow your pride while they give you a no-BS assessment about what you can do about it.

That is a problem. I get approximately $200 biweekly from work. I know I eat out too much and at first, I was spending extra money on things I didn't need such as going out and makeup and things I didn't need. It's my fault, for sure. I'm awful with managing finances and it's catching up to me now.

I have no money in my bank account and I don't get paid until Friday. I have around $1,400 left. And I've added and subtracted so many times and I know I have enough (if I'm frugal) to pay the next two months. January concerns me.

To be honest, when I first applied for this apartment, I had to put down two months rent. The initial conversation I had with the leasing office was that those two months would be the first two months. So I wasn't as concerned with my finances and saving for five months as opposed to three. Come to find out, the person that told me that information was wrong and the two months was actually for the first and last month of my lease. So for a month and a half (until I received an email from them) I wasn't concerned with saving and blew through $1,000. Then I ended up having to pay that extra month anyway, so I was set back an extra $650 I didn't account for.

That on top of not having enough for groceries, phone bill, medicines, etc. and frivolous things, I have less than I planned. And it just hit me.

Lots of places are hiring for short term/temp/seasonal work right now. You might want to grab on to that and make some extra money. That's what I'd be doing in your shoes.

A good place to go when you're broke is to work.

Suck it up and take on more hours at work. Those 3 hours you wasted sitting around worrying could have been spent at work. A lot of people work full time and go to school. You're making excuses.

Check out the book The Total Money Makeover by Dave Ramsey and start listening to his podcast. Get your finances under control when you're young so you can reduce future stress. Take it from me, I made a lot of financial mistakes and it creates a ton of unnecessary stress.

That is a problem. I get approximately $200 biweekly from work. I know I eat out too much and at first, I was spending extra money on things I didn't need such as going out and makeup and things I didn't need. It's my fault, for sure. I'm awful with managing finances and it's catching up to me now.

 

I have no money in my bank account and I don't get paid until Friday. I have around $1,400 left. And I've added and subtracted so many times and I know I have enough (if I'm frugal) to pay the next two months. January concerns me.

 

To be honest, when I first applied for this apartment, I had to put down two months rent. The initial conversation I had with the leasing office was that those two months would be the first two months. So I wasn't as concerned with my finances and saving for five months as opposed to three. Come to find out, the person that told me that information was wrong and the two months was actually for the first and last month of my lease. So for a month and a half (until I received an email from them) I wasn't concerned with saving and blew through $1,000. Then I ended up having to pay that extra month anyway, so I was set back an extra $650 I didn't account for.

That on top of not having enough for groceries, phone bill, medicines, etc. and frivolous things, I have less than I planned. And it just hit me.

You probably shouldn't have moved into a more expensive apartment. You need to take a financial management class. I'm sure your college offers it through the counseling services.

"So for a month and a half (until I received an email from them) I wasn't concerned with saving and blew through $1,000."

"That on top of not having enough for groceries, phone bill, medicines, etc. and frivolous things, I have less than I planned. And it just hit me. "

This right here is your problem. Especially the first sentence. You weren't concerned with saving and blew $1000. You have to save because you never know what might happen!!! Always, always save for a "rainy day."

Get into a financial management class and stop blowing money on stupid stuff. Budget. Cut out the frivolous crap.

I would make a realistic budget for however long until you get a new refund check (does this money have to last through January? Or just two months?) and figure out how much it will cost you to live. Then you'll know how much extra money you need. Certainly be frugal as you make your budget, but also realistic - if you currently spend, say 100 dollars a week on food, don't budget 50 unless you know exactly how you're going to cut that expense in half.

I don't know how often you work, but maybe you can up your hours in general, and also plan to work full-time during breaks you'll have. Since you mentioned paying back family members, I'm assuming you could borrow money in a pinch - I would only do this if there is no other way, and only if you budget for the spring from the start so you don't end up in another hole.

Also, can you speak to someone and find out when you get your next check? This should be known information. Someone at your school's financial aid office? Knowing when you'll get the money will allow you to make the most realistic budget for the rest of the year.

Final idea : if you're only working part time, your overall income for the year will probably be fairly low. Something to check is what IRS deductions you have on your paycheck. You can change these so that less tax is withheld from your check, resulting in more money in your pocket now instead of a big refund - but be careful, there is a penalty if you pay too little and owe too much. You can do some calculations to figure it out.