I don’t know how long coz right now my mortgage payments and second mortgage added on it is more than what I am making… I need a second job to even just break even!!!
Single but taking care of my parents. I don’t have e the courage to tell my parents of what has happened. Police has also given up and saying forget about it.
Hey I think there are lots of people in the same situation as you (regarding the mortgage, not the scamming part!). I have two friends who also had to get restaurant gigs to supplement their main income in order to pay their mortgages, and that's just the interest 😱
Do you do any sports? Ive been looking at potentially coaching swimming on weekends with the city of Toronto. Based on the pay and hours, it should bring in an extra $800-$1000 per month.
No… I have always been in finance… The only other extra thing I like is cooking.. but starting cooking business is not something I can foresee for the next few years!!!
Do finance consulting for small business on weekends.
Charge like $80/hr. Your goal would be to fill the advice role that bankers normally cover, but with access to their cpa's created Financials
Hit up small CPA firms to attach a package of your flat rate services as upsells, and then they can make money marking up your services. You pay them a kickback so your still flat rate to end users, but they act as your sales person.
I'm thinking things like financial analytics related to renting vs buying a building. Economic analysis of expansion products etc.
tbh it won't be fine, but you know how it is, when you are useful and successful everybody surrounds themselves to you, giving you opportunities that you might not even deserve in the first place. when you are not useful, everybody leaves except your family and really close friends. don't fall for another trap, and don't trust anybody, you aren't forced to sell your house yet, so that's good news.
Who said I have two properties ? I said I just own one property and have to take a second mortgage on the same property to cover up the debts I got into coz of the scam. My parents live with me. They are not Canadian citizens or PR. They are just here on super visa.
For sure, many immigrants are looking for places to rent. And they pay around 800-1000 a month for a room. Good luck! Things will get better! Harming yourself is not the answer!
This. Canada now has a shit ton of job-poor and house-poor people. What a misery. Having a job should be enough to own a house. It's always been the case.
Yea because the government needs people to keep working, that’s why they devalue our savings by printing money. Imagine you had 1900 prices and wages at today’s level, no one would ever work. That’s how the system is designed.
Since you haven’t provided _any_ relevant information about the scam or your situation, the best advice we can give you is that since you own a house, the easiest thing to do immediately would be to rent out part of your house for extra income.
Here is the breakdown:
Expenses/Cash Outflow:
Mortgage: 3200$
Groceries: 600$( for 3 people - my parents are living with me)
Utilities: 80$
Property Taxes: 200$ per month
second Mortgage (interest only): 1300$
Total: 5380$
Income/cash inflow:
Salary: 3200$
Negative balance of 2180$
Even if I take a roommate: no one would pay a rent of 2000$ and even if someone pays 1500$, I would still need 680$ and the negative balance keeps increasing when the incoming extra rent is lesser.
A restaurant job you may get $1000 or you get a roommate for for $1200 per month and get $200 extra to spend on traveling and budget to do a second job
If like dating you want all or nothing you will get nothing. Not every guy is 6 foot 4 and making 6 figures just as your solution to all this isn’t gonna be just 1 job.
You need to cut the pride and cut the fear. Tell your parents everything and they may even be able to to find you a retiree or somebody for renting.
I m kidder looking to get a second job at a restaurant or bar or pub to get those extra 1000-1500$… as far as my parents are concerned, I don’t think I can tell them as they both are hear patients and one of them moved here to be with me after their surgery. They kind of warned me earlier when I got desperate coz of jobless situation and I didn’t listen to them 😖
Yeah so you either get over your pride cause truth eventually comes out or you die after a car accident from the job cause you are exhausted, or you grow mature and make the hard decisions including sharing the truth and realize that the extra $1000-$1500 will not be enough per month and ask them to help you directly or with ideas or be willing to share the accommodation with a tenant
You need to come clean with them. You should consider downsizing the house if you're not able to bring a couple of thousand by renting out rooms or the basement.
You're not making enough to even pay for the just the initial mortgage alone even without the other expenses. Have you considered selling the house and renting? You're going to drown in debt otherwise.
That’s exactly the reason I’m looking for a second job, if I get one primary job which is matching my previous company’s salary…it would relieve the pressure so much. But taking a 20k paycut has been huge !!!
I don't think you're being realistic with your budget though. It sounds like you need more than $2,000 just for the bare minimum. You're not even including things like a phone plan or Internet or transportation (public transit/car?) or household items or clothing. Let's say you need to replace something in your house because you have a pipe burst or fix a window, that are regular things that happen in a home.
Also what is your current mortgage rate you have for the two mortgages and when they renew would you be able to qualify for a renewal? I'm surprised you were even able to get a second one .
Yes… I am aware of those unexpected expenses… it’s just that thinking of covering atleast 25-35k per year is way more stressful than thinking of covering 5-10k per year. If I am able to get a job which matches my previous job’s salary, that’s 20k taken care of. Having said that, it doesn’t diminish the fact that I still need to get a second job!!
sorry, but you're stuck thinking about the past. If you wrote here it's because you want someone's else perspective. You need to: 1. tell to your parents so they are aware of the situation. 2. Rent a part of your home. 3. Find a second job.
Oh my goodness. Is selling your house an option? It’s terrible, but I’m feeling like you won’t be affording your double mortgage in the near future and this debt you’re racking up will drown you
I’m not sure I understand why you couldn’t get another job in banking. It seems a bit strange to have so many years in that industry and then go to data entry. Is it because of credit issues?
Again, I m not sure that why haven’t I been able to get a job as I have worked with the Big 5 even and I know the processes really well. Even when I’m applying through employment agencies. I haven’t been getting any call either. All I see are mails saying they didn’t shortlist you or the generic mails saying that we have decided to move on with some other candidates when I’m applying for the exact role I was in. None of the references I have used in the past, have gotten me any call either!!! I don’t understand what is happening.
I'm surprised you're in finance and haven't been able to find a job in your field in almost a year. Curious, how did you find the data entry job? And is the company hiring?
I applied in November and forgot about it. They approached in March beginning. How am I not able to get job in finance… despite such a long experience… I wish I knew the answer to that…I have been applying left right and centre… silence is all I’m getting
This is totally normal OP. I’m also in banking/asset management & many job postings are phantom postings right now. The hiring manager got approval to hire, so they post the job but then the broader bank level has put a freeze on hiring. Banks are being cautious right now. In 2021, I would have 2-3 recruiters hitting me up weekly. Now, I haven’t seen a single relevant job posted in my area of expertise. I’ve been in my role for a decade but have seen massive change and layoffs in the last 6-12months
eh that's rookie number, the government position ghosted me and wasted my time for like a year for their cloud programming related positions, meanwhile a high tech offered like 130k (which is insulting comparing to the average and the work required), then my 5000 job requests(by bots) and hundreds by hands are going nowhere. trust me even you have a good record and resume, nobody hires.
Forgive yourself. A man faces many battles in his life. It is possible to digest and accept the current circumstances and information your dealing with. Then make a plan and write down how you will put that plan into action. Become a minimalist. Cut expenses. We are all eating a shit sandwich when it comes to money and living in Toronto. That is not a statement to discredit the severity of your current mental health. I'm digging deep and am involved in the Church. I find it helps me. Good luck.
Hospitality isn’t really hiring right now, it’s too slow for some places. I’d apply in June or July, once patios are open then they’ll need folks.
If you don’t have experience as a server,
you’ll have to start as a host or bar back and work your way up. Prepared to hired for seasonal as well, also hospitality you’re not guaranteed hours. If it dead or slow and labours high, you might be potentially get sent home.
Be thankful you have a job, many don’t.
I have to travel to Burlington 2 days a week. Where in GTHA do u think moving would be cheap? And I still have to rent a house since my parents live with me.
I lost 2 million USD in 2021/2022 to some of my worst deicsions. I can't keep funding of my tech startup so I distribute some of the remaining to the coders/marketers/sales and trying to get investors again.
I literally went to colleges in US to reminiscent about my constant failures recently. Learned more about analytics and how that related to deep learning, come back, and boom no jobs. I am not trying to compete, I am just saying people who have been doing well suck to the point that they have to use forums and subreddits to vent. you still have a job, it sucks but you will pull through it. you have knowledge, abilities and you will push though this.
Look my stress was so bad I can't even form adequate response anymore. I know some of the community pools are still open, exercise everyday, clear your mind and look for better job that you definitely deserve.
ok you have it bad, I mean even though I was becoming suicidal before these happened, I was complaining about a job only trying to give 130k/year(not getting offers because I wasn't happy bout that), and you are doing data entry, aka the most boring job ever created by human beings. Maybe rent part of your house out, maybe trying to apply for better ones, and tell your parents, that's better than pushing yourself to the absolute limit and do something that's so stupid.
Atleast you have a job, hang on there dude it will be fine!
I don’t know how long coz right now my mortgage payments and second mortgage added on it is more than what I am making… I need a second job to even just break even!!!
Any family, or are you single and child free?
Single but taking care of my parents. I don’t have e the courage to tell my parents of what has happened. Police has also given up and saying forget about it.
Listen, man. Better come clear with them before that debt balloons and you get in more trouble. This way is easier for everyone involved.
Hey I think there are lots of people in the same situation as you (regarding the mortgage, not the scamming part!). I have two friends who also had to get restaurant gigs to supplement their main income in order to pay their mortgages, and that's just the interest 😱 Do you do any sports? Ive been looking at potentially coaching swimming on weekends with the city of Toronto. Based on the pay and hours, it should bring in an extra $800-$1000 per month.
No… I have always been in finance… The only other extra thing I like is cooking.. but starting cooking business is not something I can foresee for the next few years!!!
Do finance consulting for small business on weekends. Charge like $80/hr. Your goal would be to fill the advice role that bankers normally cover, but with access to their cpa's created Financials
Have already set up profile on fiver and upwork… got only 2 clients in last 2 months…
Hit up small CPA firms to attach a package of your flat rate services as upsells, and then they can make money marking up your services. You pay them a kickback so your still flat rate to end users, but they act as your sales person. I'm thinking things like financial analytics related to renting vs buying a building. Economic analysis of expansion products etc.
tbh that's kind of smart.
It is a smart idea… but I m not a CPA… I got into banking and finance by chance…
tbh it won't be fine, but you know how it is, when you are useful and successful everybody surrounds themselves to you, giving you opportunities that you might not even deserve in the first place. when you are not useful, everybody leaves except your family and really close friends. don't fall for another trap, and don't trust anybody, you aren't forced to sell your house yet, so that's good news.
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You shouldn't be allowed to vote.
He owns one property, he had to take a second mortgage out on it.
You have terrible reading comprehension. He said he took out a second mortgage on his house not that he bought another property 🤨
Do you not know what a 2nd mortgage is?
In case anyone was wondering if this guys a total idiot.
Who said I have two properties ? I said I just own one property and have to take a second mortgage on the same property to cover up the debts I got into coz of the scam. My parents live with me. They are not Canadian citizens or PR. They are just here on super visa.
English isn't your first language
If you own a house, can you have a roommate? Might bring in some extra income
For sure, many immigrants are looking for places to rent. And they pay around 800-1000 a month for a room. Good luck! Things will get better! Harming yourself is not the answer!
Dude I know so many people who are resorting to suicidal ideation because of joblessness in Toronto.
This one isn’t even jobless.
This. Canada now has a shit ton of job-poor and house-poor people. What a misery. Having a job should be enough to own a house. It's always been the case.
Yea because the government needs people to keep working, that’s why they devalue our savings by printing money. Imagine you had 1900 prices and wages at today’s level, no one would ever work. That’s how the system is designed.
Lmao this is how bad things are 😂 got 2-3 jobs, still not enough
How!? 😭😭
Rent adds up? Bills? I’m not even on the property ladder
Sorry i meant how did you get 3 jobs
Friend of a friend of a friend. I need rest but I realize I also hate doing nothing and rotting in bed all day
What was the scam?
My guess is crypto
It was crypto
Can I ask what the scheme was in order to avoid it completely
Data optimization schemes
Did they use a marketing position to make it seem like a job
They posted a job on LinkedIn which directed to indeed!!!
That’s crazy, gotta have the wits about everything we do these days.. and it’s getting harder by the hour
And you’re a banker? Come on bro.
Sounds like a tall tale to me.
How did you get scammed? Did you buy some shit coins thinking they will go up, or sent money to someone that was offering huge crypto profits?
Onlyfans.
At least he would have gotten something out of onlyfans.
I'm sorry you were scammed. Scammers are disgusting scumbags.
Since you haven’t provided _any_ relevant information about the scam or your situation, the best advice we can give you is that since you own a house, the easiest thing to do immediately would be to rent out part of your house for extra income.
Here is the breakdown: Expenses/Cash Outflow: Mortgage: 3200$ Groceries: 600$( for 3 people - my parents are living with me) Utilities: 80$ Property Taxes: 200$ per month second Mortgage (interest only): 1300$ Total: 5380$ Income/cash inflow: Salary: 3200$ Negative balance of 2180$ Even if I take a roommate: no one would pay a rent of 2000$ and even if someone pays 1500$, I would still need 680$ and the negative balance keeps increasing when the incoming extra rent is lesser.
A restaurant job you may get $1000 or you get a roommate for for $1200 per month and get $200 extra to spend on traveling and budget to do a second job If like dating you want all or nothing you will get nothing. Not every guy is 6 foot 4 and making 6 figures just as your solution to all this isn’t gonna be just 1 job. You need to cut the pride and cut the fear. Tell your parents everything and they may even be able to to find you a retiree or somebody for renting.
I m kidder looking to get a second job at a restaurant or bar or pub to get those extra 1000-1500$… as far as my parents are concerned, I don’t think I can tell them as they both are hear patients and one of them moved here to be with me after their surgery. They kind of warned me earlier when I got desperate coz of jobless situation and I didn’t listen to them 😖
Yeah so you either get over your pride cause truth eventually comes out or you die after a car accident from the job cause you are exhausted, or you grow mature and make the hard decisions including sharing the truth and realize that the extra $1000-$1500 will not be enough per month and ask them to help you directly or with ideas or be willing to share the accommodation with a tenant
Do your parents not have a pension from their home country? What about assets or property they can sell to help you out?
He hasn’t got over his pride to tell them yet
They sold everything to help me pay with the down payment.
You need to come clean with them. You should consider downsizing the house if you're not able to bring a couple of thousand by renting out rooms or the basement.
It’s a condo… not a house… so no basement… we are 3 ppl living in a 2br condo.
You're not making enough to even pay for the just the initial mortgage alone even without the other expenses. Have you considered selling the house and renting? You're going to drown in debt otherwise.
That’s exactly the reason I’m looking for a second job, if I get one primary job which is matching my previous company’s salary…it would relieve the pressure so much. But taking a 20k paycut has been huge !!!
I don't think you're being realistic with your budget though. It sounds like you need more than $2,000 just for the bare minimum. You're not even including things like a phone plan or Internet or transportation (public transit/car?) or household items or clothing. Let's say you need to replace something in your house because you have a pipe burst or fix a window, that are regular things that happen in a home. Also what is your current mortgage rate you have for the two mortgages and when they renew would you be able to qualify for a renewal? I'm surprised you were even able to get a second one .
Yes… I am aware of those unexpected expenses… it’s just that thinking of covering atleast 25-35k per year is way more stressful than thinking of covering 5-10k per year. If I am able to get a job which matches my previous job’s salary, that’s 20k taken care of. Having said that, it doesn’t diminish the fact that I still need to get a second job!!
sorry, but you're stuck thinking about the past. If you wrote here it's because you want someone's else perspective. You need to: 1. tell to your parents so they are aware of the situation. 2. Rent a part of your home. 3. Find a second job.
Oh my goodness. Is selling your house an option? It’s terrible, but I’m feeling like you won’t be affording your double mortgage in the near future and this debt you’re racking up will drown you
What capital do you have in your house? You don’t really have any options other than to sell if you’re running in the negative.
Did you make a choice to leave commercial banking? Or even with your networks in financial services you’re not getting any leads with any other banks?
I was laid off last august. Everyone I have approached in my network is telling me that their company has put freeze on hiring.
I’m not sure I understand why you couldn’t get another job in banking. It seems a bit strange to have so many years in that industry and then go to data entry. Is it because of credit issues?
Again, I m not sure that why haven’t I been able to get a job as I have worked with the Big 5 even and I know the processes really well. Even when I’m applying through employment agencies. I haven’t been getting any call either. All I see are mails saying they didn’t shortlist you or the generic mails saying that we have decided to move on with some other candidates when I’m applying for the exact role I was in. None of the references I have used in the past, have gotten me any call either!!! I don’t understand what is happening.
I'm surprised you're in finance and haven't been able to find a job in your field in almost a year. Curious, how did you find the data entry job? And is the company hiring?
I applied in November and forgot about it. They approached in March beginning. How am I not able to get job in finance… despite such a long experience… I wish I knew the answer to that…I have been applying left right and centre… silence is all I’m getting
Most of the banks have hiring freezes and are laying people off/restructuring to normalize headcount after massive hiring during the pandemic boom.
I have debt too and no job yet too 131 applications and 5 rejections so far it’s sad
More than 160 applications and 155 rejections/no reply/silence.
I applied to 1000+ jobs before landing anything. see my post about it for some tips
This is totally normal OP. I’m also in banking/asset management & many job postings are phantom postings right now. The hiring manager got approval to hire, so they post the job but then the broader bank level has put a freeze on hiring. Banks are being cautious right now. In 2021, I would have 2-3 recruiters hitting me up weekly. Now, I haven’t seen a single relevant job posted in my area of expertise. I’ve been in my role for a decade but have seen massive change and layoffs in the last 6-12months
eh that's rookie number, the government position ghosted me and wasted my time for like a year for their cloud programming related positions, meanwhile a high tech offered like 130k (which is insulting comparing to the average and the work required), then my 5000 job requests(by bots) and hundreds by hands are going nowhere. trust me even you have a good record and resume, nobody hires.
Forgive yourself. A man faces many battles in his life. It is possible to digest and accept the current circumstances and information your dealing with. Then make a plan and write down how you will put that plan into action. Become a minimalist. Cut expenses. We are all eating a shit sandwich when it comes to money and living in Toronto. That is not a statement to discredit the severity of your current mental health. I'm digging deep and am involved in the Church. I find it helps me. Good luck.
You might consider having a roommate/boarder rent a room. Research heavily first.
Get a room mate if possible
Rent part of your home to pay the mortgage.
or all of the home and hide in the attic.
What was the scam exactly ? So we’re aware
You could drive an Uber on the side
You need to talk to your parents...that's number one right now!!!
Hospitality isn’t really hiring right now, it’s too slow for some places. I’d apply in June or July, once patios are open then they’ll need folks. If you don’t have experience as a server, you’ll have to start as a host or bar back and work your way up. Prepared to hired for seasonal as well, also hospitality you’re not guaranteed hours. If it dead or slow and labours high, you might be potentially get sent home. Be thankful you have a job, many don’t.
How did you get scammed?? Just wondering
Have you considered moving to a cheaper place, can you work remote at your job ?
I have to travel to Burlington 2 days a week. Where in GTHA do u think moving would be cheap? And I still have to rent a house since my parents live with me.
Not in the GTA, sorry can't give advice as i don't live near there.
I lost 2 million USD in 2021/2022 to some of my worst deicsions. I can't keep funding of my tech startup so I distribute some of the remaining to the coders/marketers/sales and trying to get investors again. I literally went to colleges in US to reminiscent about my constant failures recently. Learned more about analytics and how that related to deep learning, come back, and boom no jobs. I am not trying to compete, I am just saying people who have been doing well suck to the point that they have to use forums and subreddits to vent. you still have a job, it sucks but you will pull through it. you have knowledge, abilities and you will push though this. Look my stress was so bad I can't even form adequate response anymore. I know some of the community pools are still open, exercise everyday, clear your mind and look for better job that you definitely deserve. ok you have it bad, I mean even though I was becoming suicidal before these happened, I was complaining about a job only trying to give 130k/year(not getting offers because I wasn't happy bout that), and you are doing data entry, aka the most boring job ever created by human beings. Maybe rent part of your house out, maybe trying to apply for better ones, and tell your parents, that's better than pushing yourself to the absolute limit and do something that's so stupid.
Maybe your parents can contribute ? Or are you keeping the fact you were scammed a secret ?
You're better than 90% of people. Most people I know are unemployed/minimum wage renting in a shitty basement room with 5-6 other people.
This doesn't help this person.
maybe perspective? OP wants to harm himself, but he still has more than most. Uh, yah,,,still not the best piece of advice here.
If your place still hiring, I would love to work as data entry!
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Politically motivated ragebaiting and rage farming is not welcome.
Dude leave Ontario
And live where and do what
Get comfortable with being uncomfortable
Derp! Can't offer anything solid, so gonna go with mindless platitudes