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Struggling with Finances: A Personal Journey

Hello everyone,

I hope I’m in the right space to share my experiences. My name is Alex, and I’m a 25-year-old guy currently facing some significant financial difficulties. Over the past eight years, I have made a living as a hairdresser, but my journey has encountered numerous challenges, especially following the impact of the COVID-19 pandemic.

The Impact of COVID-19 on My Work

When COVID hit, everything changed drastically. I could only work part-time for about nine months during the various lockdowns, and as a result, my savings dwindled away rapidly as I struggled to cover essential expenses. In an effort to alleviate my financial burden, I made the decision to leave Wellington in 2021 and move back in with my parents. Unfortunately, this plan was short-lived due to devastating floods and housing difficulties, which forced me back to Wellington.

Transition to Self-Employment: A Double-Edged Sword

Returning to Wellington, I took a leap of faith and became a self-employed contractor. The hustle was something I was accustomed to, but over time, the relentless work took its toll on my health. I found myself burning out and subsequently developed chronic illnesses, including wrist injuries that hindered my ability to work efficiently. My weekly income now hovers around $700 after taxes, a fraction of what I had envisioned for my career.

Breaking Down My Current Financial Situation

To give you a clearer picture, here are my monthly expenses:

• Rent: $300
• Car Expenses: $100
• Food: $100
• Petrol: $50
• Phone and Power Bills: $100

Adding to my woes, the house I live in is poorly insulated, leading to higher utility costs. My health has become a barrier, as my doctor advises me not to work more than 10 hours a week in hairdressing due to my medical issues. I stumbled upon a job that combines less hairdressing with more administrative tasks, but it appears I may soon be laid off, leaving me with an uncertain future.

The Hard Realities of Being a Hairdresser

The financial landscape for hairdressers is bleak. When I first started in 2018, my hourly wage was merely $11.75, despite investing years in training and honing my skills. Even after nearly a decade in the field, most experienced hairdressers only earn between $28 to $32 per hour. As a result, I have taken the initiative to study marketing to enhance my job prospects. Unfortunately, setbacks have plagued my attempts to make a substantial change in my career.

Personal Aspirations and Financial Strains

My partner and I had been saving diligently for a trip to Sydney in September, a small hopeful escape from our financial struggles. However, with ongoing financial strain, it increasingly seems that this dream might slip through our fingers as well.

I pondered selling my car, but it represents much more to me than just a mode of transport; it is my only source of joy and a sense of ownership amidst everything else that feels so out of control. We are in the process of moving to a more affordable place, and I remain hopeful that this will alleviate some of the financial pressure. Job hunting again is daunting due to the saturated market, but I feel compelled to keep searching for new opportunities.

Seeking Advice and Support

At this moment, I am reaching out for advice and a supportive space to vent my frustrations. Every day feels like a struggle, and I could definitely use an extra pair of ears or some guidance.

How AI Legalese Decoder Can Help

In light of my situation, I wanted to mention how AI Legalese Decoder could potentially provide support. Understanding finances can often involve navigating complicated contracts or agreements, especially regarding rent, employment, or other financial obligations. Using an AI-powered tool like Legalese Decoder can help demystify legal jargon, ensuring I fully comprehend the implications of agreements and contracts that may affect my financial situation.

This tool could aid me in making more informed decisions, ensuring I don’t overlook any critical details that could worsen my financial predicament. By improving my understanding of the legal intricacies involved in my agreements, I can take more confident steps forward in my financial journey.

Thank you for taking the time to listen. I genuinely appreciate any advice or words of encouragement from you all.

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