Recent Letter to the ElderWisdomCircle™
FINANCE: Struggling to Save for an Apartment
I have been stuck in this hotel for three months paying $402.50 a week. I make $15 an hr. I get paid once a week at 40 hours. I have no other place to go. I can afford an apartment but after the hotel takes their money every week it leaves nearly enough to cover gas and food. I tried calling a apartment locator to help but the problem is I don't have the money to put down on an apartment. I feel like I'm trapped in this hotel and can't get out.I can't get a loan because I don't meet the A1 credit criteria. Its depressing. Day in and day out. I seem to can't figure out my solution.
Hey Charles, First let me commend you for having the courage to reach out for help. Many people are too proud to do so and it's refreshing to hear from someone who is willing to put aside what ever reservations you might have to do something to make your situation better than it currently is. I can think of a number of things you might be able to do to help you achieve your goal. Since what you need is to save enough money to put down on an apartment consider each of my suggestions as actions you can take temporarily, maybe for only a month or two, to conserve the amount of money you need to move forward.
You mention that at the end of the month you have nearly enough money to cover gas and food. Disregard this first suggestion if it doesn't apply. I don't know how often you eat out but if you can manage to eliminate that completely for a short time and buy inexpensive foods that you can prepare yourself you can possibly save some money there.
There are people who rent single rooms in their homes or apartments for much less than you are paying for your hotel. That would make your monthly outlay considerably less than you are presently paying. If you have too much stuff to fit in a single room it might make sense to go through what you presently have and see if there is anything you don't really want or need anymore and try to sell. This would also bring in extra cash. If there's nothing you want to get rid of an alternative could be to put it in a storage shed until you get your own apartment, which is not terribly expensive.
I understand there is free government grant money available that requires no credit check, collateral, security deposits or co-signers, that you as a tax payer are entitled to. I don't know much about it but it's something you can check out for yourself.
Another idea is to look for any local YMCA's in your area. As far as I know people can still rent space very inexpensively for a short period of time until they have the means to get back on their feet again.
I really hope I've given you some good suggestions that help lead you towards the direction you want to take. If I have, then I've done my job. The fact that you took a chance by asking for help leaves me to believe that you're already moving in the right direction. I can't give you a house warming gift when you do finally make the move to a new apartment, and I have great belief that you will, but I think it would be quite rewarding to you and me if you were willing to pay it forward and help someone else in the future, not to mention how rewarding it would be to them.
Good luck Charles. If you continue to put positive thoughts and actions into your quest I have no doubt you will find what you're looking for. I'd like to leave you with one of my favorite quotes about home... The magic thing about home is that it feels good to leave and it feels even better to come back.