So you've got $1,660/mo to spend across:
$50 Auto insurance
$100 Cell phone
$25 Credit Card
$200 Gas (?)
Which leaves $735. With that, you need to pay:
$750 Traffic fines (due in 2 months, so $375/mo)
$2800 Apartment (due ???)
$221 Credit Card
$2,500 Motorcycle (???)
So this month:
$375 to traffic fines
$360 left can go to (any/all): eliminate credit card, pay misc expenses, start paying off apartment debt
$375 to traffic fines
$360 can go to (any/all): misc expenses, apartment debt, irs debt, motorcycle
Sounds like, assuming your expenses are listed completely/accurately, you've got a good amount of money available to throw at your obligations each month. Figure out what order you want to deal with them in (presumably traffic fines first, as that's due first) and automate it as much as possible so that you have no choice but to tackle them.
This is a good analysis and I agree.
I hope you are in the process of turning your life around and growing up. Not to beat up on you but you are paying a very high price for being wild. Let's see, traffic fines, higher insurance, extra fees for breaking your lease, etc. are wasted money that you got nothing for. You are probably paying extra fees to pay your insurance monthly and in interest as well. Again, I'm not saying this to beat up on you. I'm just pointing out that even though you have a pretty good income you are burning a LOT of money that you cannot afford.
A few things you should do:
- Pay the court fines and the IRS on time no matter what. Even if it means you go hungry for a few days or have to take the bus to work! Those are important. Realize that if you fail to pay them you are very likely to get locked in jail next time even for traffic offenses. Why would a judge believe you next time?
- Don't let the apartment thing go into collections. Go immediately to them and talk to them. Find out what the deal is and how you can make it right. You will never be able to buy or rent a property again with that kind of thing on your credit report. No landlord is going to rent to you if you screwed the last one over. The reason does not matter at all. I have a rental property. Trust me on that one.
- Pay off the motorcycle loan as scheduled. Preserve your cash for the more serious debts (traffic fines, IRS, apartment complex).
- $200 for food for one person is very high.
- $200 in gas is a LOT of driving. Unless you are doing this for your job I think you need to find a way to cut that at least by half
- Your comment that the first time you flew the coop it "didn't work out" is discouraging. You screwed up. Take responsibility for your actions.
As was pointed out, you should be able to get your debts taken care of and have a good amount of disposable income to invest. I hope by next year at this time we see a post from you that says you are debt free and have saved $xxxx in a Vanguard fund. It is a good sign that you have posted to this forum. Now please take action and stick with it!