Unglamorous But Effective Workarounds For The Cycle Of Poverty
The fact that you are in debt is largely due to factors beyond your control. Even if you have forgone all nonessential purchases and if you spend all of your time either working to earn money or seeking out discounts so you can spend as little of it as possible, it is virtually impossible to hold a job in Florida unless you have a car, a cell phone, and Internet access. A single visit to a doctor’s office can cost you hundreds of dollars, even if you have health insurance. Groceries and rent are barely affordable, and they are only getting more expensive. This is not to discourage you in your persistent efforts to increase your income, pay off your debt, and improve your credit score. It is just a reminder that the cycle of poverty is real, and the only way to break the cycle on a society-wide level is through the reform of numerous policies that affect consumers. Major financial decisions that you make as an individual affect your financial situation in the long-term though. Rather than agonizing over every latte that personal finance experts tell you not to buy, these are some decisions you can make now that will pay dividends in the future. For help seeing the big picture about your debt, contact a Boca Raton debt lawyer.
Only Enroll in Colleges You Can Attend Without Taking Out Student Loans
Student loans can add up to hundreds of thousands of dollars of debt, but it is possible to get a college degree without borrowing money, even if you do not have family wealth to contribute to your education, if you are strategic enough. It does not have to be a choice between taking on huge piles of debt or being limited to jobs that do not require a bachelor’s degree. Taking dual enrollment classes in high school is free, and starting at a community college and then transferring to a public university in Florida costs a lot less than studying at a private university for four years. When you factor in federal financial aid, scholarships, and your own employment income, getting a college degree without borrowing is feasible, but it requires long-term planning.
Move in With Your Family So You Can Keep Your Public Benefits or Manage Without Them
If you receive benefits such as Medicaid or SNAP, then getting a better paying job is a mixed blessing, because it can jeopardize your eligibility for benefits. Is earning minimum wage while qualifying for Medicaid worse than earning slightly above minimum wage and having to pay all of your healthcare costs out of pocket? Moving in with your family is not everyone’s idea of a good time, but it can save you money on rent and utilities if you lose your benefits eligibility.
There Must Be a Better Way
Yes, it’s unfair that so many people are stuck in a situation of barely making ends meet, and yes, debt relief is available to individual consumers. A debt lawyer can help you choose among debt relief options such as debt consolidation, debt settlement, and bankruptcy protection.
Work With a Debt Lawyer to Shape Your Own Future
A South Florida debt lawyer can help you make long-term plans for repaying or discharging your debts, so you are not stuck living paycheck to paycheck. Contact Nowack & Olson, PLLC in Boca Raton, Florida to discuss your case.