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Author: 2gifts Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308881  
Subject: Re: Can you advise? (long) Date: 7/15/2005 7:51 PM
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Is your friend being straight with you because I'm finding a few things that don't make sense, but it could just be because you didn't post all the details.

He wasn't, but they paid him like he was, so he was not able to get unemployment.

If this were true, and it is defined by the IRS and not by what the company would like it to be, then he should have applied for unemployment under the rules that he really was an employee, and they should have been paying him as such. There have been court cases about this, and that's why the IRS has such rules. It is pretty cut and dry.

He got a steady job, decent income, place of his own again, etc. This company is closing the local office and he will again be out of work in September. His only recurring bill right now is his car payment.


His car cannot be his only recurring bill. What about his housing expenses like mortage, taxes and insurance? If he's renting, it would be more along the lines of rent. What about car insurance, groceries and the electric bill? All of these are recurring expenses and things he needs to be paying for. Why is he only worried about the car payment?

What can he do?


Has he really scrubbed his budget to the bone? Has he done things like elimate his cell phone or landline if he has both? Can he cut his cellphone minutes? Does he have cable that could be cancelled? Does he eat out at all because this is a pure discretionary expense and can be cut to nothing?

He really needs to look at his total budget and budget to the bone at this point while he continues to look for steady employment. He might also have to just take any job just so that he has some income coming in.

What he cannot do is sit around and wait for a solution to just happen. He needs to take control and start cutting expenses while increasing his means.
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