Hello r/personalfinance,
I just graduated a few weeks ago and recently I just started a new role working in software sales. I am expected to make about ~62K annually. I want to be comfortable for the future and I would love some insight on how to break down my salary and invest my earnings for long term stability.
Some financial statistics about me:
62k salary
8k in student loan debt
20k in a mutual fund my mother started for me when I was very young (thank you mom)
5k in crypto currencies (used to be more but crypto has been going bust lately)
3k in a Roth IRA
8k cash on hand placed in a savings account (still deciding on how to invest this)
Monthly expenses:
$1200 for rent (utilities included)
$150 for prescription
$500 - $600 Food (looking to lower this cost but I love eating out, I have a gf, also I am bulking. This is a trouble point for me)
$120 gas cost (I am getting a family members older hybrid soon so I should see a decrease in this cost)
$450 for random things
I should have about $1200 - $1500 a month to save for a few months but soon I will be having to pay back school loans. At a minimum I want to save about a grand a month.
How am I doing financially at my age? How should I be allocating my savings? Am I saving enough money? How should I be setting myself up financially for the next 10 years. Thank you
Submitted June 26, 2021 at 05:06AM by OilZealousideal5660 https://ift.tt/3jev3IL
