It's my 2nd year out of college making 60k base. Rent is $600 plus utilities its $700. Already living with roommates. I drive an acceptable old car in goodish condition (2001 honda civic with 140k miles). My job setup is good as they pay for phone, gym and most of my food since I travel alot. I get reimbursed for mileage so I rake in an extra 1k to 2k every month in exchange for car depreciation. I'm putting all of that into a new car fund which is at 4k right now.
Right now I have 11k in a savings account(separate from new car fund). I however have 33k in student loans. All of it is federal thankfully, however about 6k of it at 6.8% interest. Everything else is very low(sub 4%). I am currently have to pay $350 a month, I pay $400 and send $50 to the higher interest loan.
My main question is this: How much of my savings should I keep as emergency fund vs putting towards debt?
Additional info:
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401k matches 4% and gives another 4%. So I put in 4% only. Should I put in more?
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I want an acceptable 2010-2014 car by next year. I assume that would cost 10k-ish. Once I get that, I'll put my mileage money towards debt.
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I spend a lot of money (3k to 5k) every month for my company on my credit card for which I am reimbursed. I use a highish cashback card for those to get some nice rewards. Are there additional ways to monetize this spending.
Thanks,
Submitted January 08, 2017 at 11:03AM by Bigmachiavelli http://ift.tt/2jqULvo
