About to graduate, and I need some help!!

[docstudent]

Hey People,

I am about to graduate in a week or so with my doctorate degree in a social science field. I recently got a new position, but I have recently learned that the position will be phased out in the fall. I "thought " I was in decent financial shape...This is my most updated financial stats:

I have $14, 325 in a CD account, matures on 5/19/08
Checking account $3,000
403(b) with One America $15,400, I stopped contributing on 3/5/08 and opened a new account that is a bit more aggressive approach...The account was only earning 3%.
STRS, Defined Benefit Account $24,332
Defined Benefit Supplement Account $11,463

Currently, I am contributing $500 a month to a new 403(b) account- as of 4/5/08.

I have (5) Credit Cards with available credit around $50,000 and I have a balance of $987.


Monthly bills:
Rent $1177
Car $399, and lease ends in August of '08
Cellular phone, $140
Insurance, $150
Bills (other bills), $190
Cleaner, $110
Barber, $120
Food, $200
Gas, $120

In May of '08, I have to begin making payments on my student loan- which total about $120,000 and the monthly payment will be $585 a month. I am currently looking for a new job, and I should land something around 87G to 101G, however, the worst case is that my income will be around $3700 a month after taxes, what would you do?

I wanted to purchase a condo, but I feel I will be in over my head, plus I live on the West Coast.....

My goal is to pay off my credit card debt in June---


Thanks for any suggestions.....

[project15]

looks like you're paying a lot for the majority of your bills (car lease, cleaner, barber, cell phone). Those things can easily be cut in half so that you can use the money for investing more while you're young and paying off that 120k or saving for a house.