So I (24F) have officially paid off all my debts that I had. It included school loans and car payments. I am officially done and I am so happy I can finally just breathe.
I work a FT job 7am to 4pm Mon - Fri (37.5 hrs a week) and work my PT job 2-3 times in the week and some weekends - Averaging about 40-44hrs / month for the part time job.
Now, I just don't know what to do! I have $2,600 in my savings that I didn't touch and of course now that I am done paying my debts I am going to work on building that up. It was a cushion in case I needed anything as I was aggressively putting 2k into my debts per month.
I felt like I haven't done anything special for myself in a long time so I do plan on treating myself soon but then after staying to my $500/per month (personal, grocery, gas, laundry) budget and saving the rest.
My monthly breakdown:
Rent: $200 (I live at home, but I will probably need to help out more now as my family is doing horrible with the house) Insurance : $200 Gas: $150/200 Groceries: $150 Phone Bill : $65
That's about it.
So I have a few questions
-
Now that I have finished paying this off. Should I stick with my PT job or cut down my hours to 16-20hrs /month (would cut it down to $180-250 extra per month) oppose to 40hrs/month ($520) ?
-
What is a reasonable amount to start giving my family? $400-500, or simply take care of one specific bill per month (my mom is not good with money - at all. Everything is back dated and not paid in full)
-
Should I start to invest in shares?
-
I was hoping to save up for a downpayment of a condo or house but I still don't plan to move out for another two years. Is this a reasonable time line?
Any advice you can give me would help me out alot!
Submitted February 14, 2019 at 07:02PM by throwawayemotions34 http://bit.ly/2STdLnM
