Headed out within a month for Army NG training (6 months) and once I get back I want to get serious on saving.
Age: 23
Student Loan Debt: $3800
Current Savings/Assets: $0, no car either
Monthly Expenses: $1400
Once I get back from training (pay+bonuses): $17,500.
I'm wondering on what approach would be recommended for building net worth. 1) I want to pay off my student loan within a year, 2) buy a car that is not a POS (so instead of paying $3k, buy something newer that wont break down within a year, really looking for pros and cons on getting a car loan for something reliable), 3) create an emergency fund (how much should it be?), and 4) start aggressively investing, the goal is $150k-$200k by age 30.
Once I get back I will be in school full time using the GI bill, making $1000/month from the Guard, and will be working as well, at least enough to cover the monthly expenses, preferably to bring in an extra $200-$300 more. Studying IT. Any advice would be appreciated, thank you!
Submitted March 10, 2020 at 08:57PM by throwawayy5099 https://ift.tt/2vVpLLW
