Hi all,
I’m getting ready to start my first adult job pretty quick and wanted to ask a few questions. I have totally graduated from college but with everything going down I found a place that would hire me ahead of time. They are completely reputable and I know at least a little about them.
Theoretically my starting salary is going to be $38,000. I did the math to be roughly $700 a week pre-tax. I am 21, male, with no dependents. How much should I expect taxed and could someone help me understand the tax brackets better?
Next, I’m planning on living with a roommate and we found a place for about $850 a month. If I’m doing my math correctly that will correlate to around 35-40% of my income going towards housing. Is that too much?
Lastly, I know that a general rule of thumb is to have 6 months of expenses saved in an emergency fund in case of well....emergency. Would it be worth it to save a little more for peace of mind? I ask because I would like to start investing for the future and I figure it’ll take me around 4-5 months to have that kind of emergency fund.
I do appreciate any help anyone can give me and look forward to a response
Submitted March 28, 2020 at 06:06PM by vio789sssss https://ift.tt/39mSUNT
