I've been a lurker for years and read Dave Ramsey's book "The 7 Baby Steps", both helped to prepare for the adult world and my finances.
I've been financially independent since moving out after high school graduation right as I turned 18 (I know moving out right away isn't financially the best, but considering while I was in high school I was helping out w/ rent, this would have continued). I created my first budget in high school and have always been a penny pincher due to the fact that during high school I also paid for my own clothes, school supplies, and extra food (restaurants w/ friends).
I'm so proud that I finally had enough money in my savings that I comfortably paid $1.25k for my first car and still have 6 month emergency savings. It's a clean '95 oldsmobile w/ 88k miles that used to belong to an older gentleman. Not the coolest or sexiest car, but it's MINE that I don't have to worry about a loan on. Plus I was looking for a car around $1k and would have a decent resale value when I want to get a nicer car.
I'm so thankful that this sub helped me put my finances in perspective and to not give into instant gratification purchases! Next I want to look into getting a credit card to use responsibly and start a Roth IRA before I turn 20!
Monthly Income:
$1.2k
Monthly Expenses:
Rent: 300 (about to be 200 w/ a roommate moving in w/ my partner and I)
Food: ~200
Transportation: ~80
Entertainment: ~10 (netflix)
Electricity: ~75, will lower as it gets warmer.
Restaurants: 50
Toiletries/Beauty: ~40
Clothes: ~20
Alcohol/Recc: 100 (not proud of this, but it's cheaper than healthcare)
Cellphone: 0 (Don't have a smartphone. My mom gave me her old nokia like phone and pays for my minutes. She got sick of me not having a cellphone ;) Thanks mom, helped me find a better job)
The rest I throw in my savings which I use to help pursue my interests like traveling, or paying for school. (Paying for community college out of pocket, but I took this semester off).
Thanks for reading, have yourself a great day!
Submitted March 30, 2017 at 02:01PM by gratisthrowaway http://ift.tt/2nnUuYu
