I am 24. At my job, I get around $1300 bi-weekly. In addition to this, I’ve been doing instacart on the side which is usually at least $200 a week. I have the following expenses per month: 1. Rent - 1173 2. Bi-weekly car payment - 164.19 3. Savings Deposit - 500 4. Dog Fund - 125 5. Optimum, utilities, etc - 110 6. Food - 200 7. Gas - 120 8. Misc expenses - 200
My total savings is $5,000. I also have around $1,350 in stocks between the utility company I work for and a few in fidelity. I already have money being taken out of my payment for the 401k.
I have no other loans beside the car. I have about $21,700 left on the car loan and the interest rate is 3.74%
I have about $650 left over after all the listed expenses.
Would it be better to put the extra money into the savings account or put it towards the car? Ultimately, my plan is to move out of my apartment into a condo once I generated enough savings to make the 20% down payment.
Submitted August 28, 2020 at 08:44PM by SinkyShippy https://ift.tt/31EsvKG
