I'm going to be making as much as our household income in a few months and I'm very scared.
I don't know what to buy, invest in, or save. My plan right now is to put 50% of my check into my dad's savings account (who I trust) that I cannot touch unless he allows me to take it back. I'm very irresponsible with money and I like to live lavish and spend good money. I did an internship when I was 16 at a Fortune500 company, made ~12k that summer and blew it all in 3 months. If you ask me what I bought, I wouldn't be able to answer. I didn't even buy anything major like a car or TV or console.
I'm very lost and don't know what to do. It's good money for an 18 year old student but it's really not that much. I won't have to pay for tuition or residence because I got a full ride. Right now, I have $15k set aside to finance a 0% financing car I found that I like. Is this unwise? A car is necessary where I live when I get into uni.
Sorry for the incoherence, I've stayed up all night thinking about this. Thank you personal finance...
edit: Also, I'm guaranteed employment and potential salary increases all 4 years as long as I don't fuck up. My parents don't have any loans other than a mortgage with 80k on it. I plan on waiting until the very end of their mortgage when there's 10-30k or so left and paying it off for them!!!
Submitted May 01, 2018 at 08:20AM by stupid18yearold https://ift.tt/2r80yHI
