Me: 25/M, broke ever since I was 18 and finally seeing a rise in income. Been struggling in debt since I was 18 and my parents keep asking for money whenever I get a new job or any increase in income. Recently got a temporary gig in addition to my job. I make $8000 from my FT job and $12,000 from the side gig.
I'm making $20,000 a month per month but don't expect this to last longer than 1 or 2 months. I have $44,000 in debt, $17,000 of that is student loans, of which $4,000 in student loans has a high interest rate and $13,000 has a low interest rate which I plan to pay off next month.
I've read a lot about finances and understand some terms, but because of losing all my money when I opened an LLC and all my tax debt over the years I've been afraid of growing my money. I've opened a Charles Schwab account to invest in an IRA but haven't put any money yet. The year ends in 2 weeks, should I be putting in $5500? Also, what should I be doing with all this temporary increase in money? I've read the common topics and sidebar, but am looking for more stories and experience from people who have done it. The tax debt I put myself into at 18 is still something I'm clawing out of and I want to make sure I never end up in this situation again.
Submitted December 14, 2018 at 11:15AM by Throwaway_20000Dolla https://ift.tt/2SLNwMb
