Question for CoinTalk

What happens when you run out of Silver? I'd try to fix your budget problem before selling you silver.

No bills you can cut: Cell, cable, internet, rent, credit card?

 

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I balance my ledger down to the penny in a spreadsheet (including spot pricing for PM value =), and I noticed that when I stopped eating out and started going strictly to the grocery store for making my own meals my monthly out of pocket expenses dropped dramatically, about 30-40%. Then again, time is money.

 

I'd rather find a job, anyways. A better job, I mean. And no, the rest of those costs are pretty much fixed. The big one is Sallie Mae, that's $500 a month, just as much as my rent... okay, a little less.

I hate, hate, hate Sallie Mae. Don't even bother going to college, kids, because when you graduate and can't find a job, Sallie Mae is still going to be 3 feet up your butt asking for money every month. Or if you go to college, only get a degree in fields where you're practically guaranteed a good job right out of the gate.

 

Hey, I had to sell one of my properties but I'm all good now for a very, very long time. To the OP, I recommend you to sell 3 of your silver rounds on ebay (like other members mentioned). You'll get what you need. That is, if you have a good feedback and enough of it.

 

Pay attention everyone. I don't necessarily agree that you shouldn't go to college, but student loans are a HUGE mistake. Go to an in-state public university and work to pay the bills. If you can live at home, EVEN BETTER. I went to a big public university for my undergraduate degree a few years back and finished with $0 student loans and a great education. Then I went to a more "prestigious" private college for my MBA and finished with $16K in student loans and little to show except a few stories about what a joke the curriculum was. That student loan taught me a lesson about the real world, though, and it has helped me avoid all other debt since then. I don't intend on ever having another loan in my life (car, credit card, or mortgage).

$16K cost me around $250 a month, so I imagine you are about double that. I was lucky enough to land a job that allowed me to knock out the loan quickly, but I would definitely look into filing a hardship and postponing payment for now if I were in your situation. Don't sell your silver now, brother. It's a mistake.

What about picking up a second job at Lowes, Home Depot, a bar, etc. A friend of mine works for a company that maintains electrical components on cell towers. He says you can get a job tomorrow making $45K if you have a tiny bit of mechanical aptitude and are willing to climb 300 foot towers with a bag of tools tied to your waist.

 

If you're holding silver for an investment, then I can't think of a better time to cash in on it than when you need the cash for basic needs, which seems to be the OP's case. If you don't know where you're going to get three day's worth of gas money from, it's obviously not a good time to be investing in anything. Cash out, pay your bills and worry about silver when you have the extra money to do so.
Guy

 

I thank everyone for the very useful advice, and Merc, I'm sorry to hear about your situation. I hope you are able to find a better job, and are able to keep your investments. I went and sold one ounce, and got $44 for it. I I paid 20 from my immediate medical bill, and put money in the tank. I get paid very soon, have enough gas, and I can send the rest of the bill on Friday.

One big mistake I made and maybe somebody equally as unwise as me with money (lol) I bought 3 ounces of silver before I paid my bills and then came up short being stubborn to pay the bills with bill money. This round I will be paying all of my dues and then picking up some silver. Of course I'm replacing the one ounce as soon as I get paid. I simply went to the coin shop, and told the worker, I'm taking a loan from this one ounce and I'll be getting it back on Friday, he knew exactly what I meant and held the round for me! So I'm fortunate to have made it okay and hope everyone else makes it through if the time comes!

Thanks Guys

 

I'm for selling the rounds and/or the Kennedy halves. Both will be easy to replace when your financial disposition is more stable, Good luck.

 

Well, hopefully I have an interview within 2 weeks for a job I applied for... my friend works in HR there, said I'm finally in their queue to be called and interviewed... It would be a nice bump in pay, about $15k extra per year, and would solve my debt problem pretty handily.

 

IF it drops... Yes its very likely it will but you know what they say about assumptions.