On mobile so please excuse any formatting errors.
I'm 34 and recently moved to the US for work and I have begun to start saving and contributing to my future. Below is a breakdown of my bi-weekly pay and where my money goes when it comes to saving. I'd appreciate any and all comments or help in improving my current savings budget or whether I should be doing things differently.
The below figures are based on being paid every 2 weeks.
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Current annual salary: 78k (this may increase soon based on performance)
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Gross Pay: $3000
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I contribute 6% pre tax to my 401k: $180 (I think I will change to a Roth 401k soon as my earning potential will increase in the next number of years)
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Company match 4%
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Current net income: $1980
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Current savings: 10%: $198 (this goes into a chase "savings" account). I'm sure there are better options than a chase savings account?
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Company stock purchase plan 10%: $198 (max contribution) I missed the boat on this for the start of 2019. I begin contributing in April.
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Bills/Rent: $750
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Remaining money for food and anything else I need within the two week window $834. This money gives me a quality of life I could not have before I moved to the US.
I have about 7k in savings and no debt. I made sure all debt was cleared prior to moving to the US. I am currently using a Discovery credit card with a $500 limit to build my credit.
Having only moved to the US and starting to save for my future later than most, am I using the money I am saving wisely or are there better ways I can effectively use my money to save and plan for my future?
Submitted February 14, 2019 at 09:49AM by VanDamageV2 http://bit.ly/2V07mEr
