Hey Guys,
I recently got a job where I am making about $45 an hour as a contractor, and was just offered a full time position at $110k with Benefits. Up until now I was living from paycheck to two days before paycheck. If it wasnt for my girlfriend helping me with bills I would have been in very bad shape.
I just moved out of my home state for this job, and again, thanks to my girlfriend, she used her savings to pay for the majority of the move. She is now my Fiance actually. But I digress.
I just turned 30 and up until now was making 27k a year, with about $15k in student loans that were in default, and owed only about $2900 on credit cards that were on the verge of going into collections. Im not going to go into the whole story about how my credit got below 500, but long story short, the family business needed help years ago, i sank all my money into it, maxed out all my cards back when I had excellent credit, and lost it all.
Now things are different. I have made deals with my current credit cards letting them know that I will be making full payments in the next week to catch up, and will have the cards paid off in 4 weeks in full. I also contacted my student loan servicer, and made arrangement and payments to get back into good standing.
My monthly expenses are:
$1300 Rent, $60 Gas, $60 Cable, $50 Car Insurance, Electric about $150, and I am not sure yet what my Natural Gas will be. So basically I am looking at under $1800 for bills a month, not including entertainment, credit cards and expenses.
I bring home $2600 every two weeks after taxes until I get my bump to the full time Position at $110k a year which I will bring in roughly $3000 every two weeks, not including insurance, which remains to be seen.
So my plan is to
A) Pay off my cards and only use them for Gasoline and Food. Pay them off in full every month or keep a small revolving debt. B) Make regular payments on student loans C) Pay off any accounts I have in collections after filing disputes to see what can be removed. (I am having issues with a few bill collectors where I already took care of the money).
What I need from you guys- 1) Should I change anything about my plan so far? 2) I want to slowly start investing my money. I am not sure if there is any 401k matching at my company, I don't think there is. 3) I want to fix my credit asap so I can get a car loan. I am currently, and happily, driving around in a 1995 Jeep Cherokee. Love the car, but its slowly falling apart. I can deal with it for another 6-8 months more than likely. How quickly do you guys think I can get my credit fixed to the point where I wont get beat up on an auto loan? 4) I want to try to buy a house by 2019. Obviously I need good credit for that and money to put down, which won't be an issue.
Thanks for any advice you guys can give me.
Submitted February 17, 2017 at 02:58AM by FixMyCreditAndStuff http://ift.tt/2kZoET2
