Married in 2012 divorced in November 2015. I did not handle it well and used booze and drugs to cope. I was arrested for a DUI on May 31st 2016 with $3,000 in my bank account. DUI would end up costing $14K. I have two more months of probation but have paid off all fees. I've been sober since 05/31 and quit smoking cigarettes in June 2016
I had four goals during probation:
Get sober and own mistakes. Work hard and pay off all debts ASAP. Complete a full iron man. Be my own hero.
The past year.
At the time my 9-5 salary was $44K no commission and apartment was $825 a month. I got out of my lease and got a damn good deal on a 34ft sail boat that a great friend loaned $3K(since paid off). For the past year 11 months I've been at a marina where I pay $300 month for slip fees and utilities. I also gave sailing lessons, transported divers to reefs, and performed routine boat maintenance for extra cash.
Currently Situation
$19K in the bank. Debt Free. Legitimate $9K cash offer on my boat. $8K on a forgotten 401K from 2012. My combined monthly payments are $550(rent, boat and car insurance, gym). Received a raise as of 04/30 to 70K salary with commission expected to be between 15-25K. Credit is shot.
What to do.
I didn’t allow myself to look at finances with the exception of transfering money so I didnt realize I had a nest egg.
I believe the stock market is headed for a correction and live in FL where the local housing market is pre-recession and local economists believe there will be a correction in 2019. My job and earning is very much tied to the economy. I don’t want to live on a sailboat with my golden retriever much longer and would like to buy an investment home to live in pay off quickly and rent out. I just started looking at a rough neighborhood that just started to (slowly) gentrify and industry is building around it. I've worked construction before and am no stranger to remodeling but have no idea what the costs are.
I can use a personal credit card for work expenses and will be reimbursed to build credit and gain awards last year I spent $53K on my boss’s card. Can anyone provide some insight on how to optimize my finances? Work will pay for 70% of grad school so I'm thinking about studying for the GMAT this summer and start in spring.
I need help and want to make the most out of what I have.
EDIT: Does anyone have any credit card suggestions? I've never had one, my sibling racked up 50K in debt when I was in high school and it's always scarred me. Airline points are ideal, I haven't had a vacation in 15 months but have lived abroad 4 times and traveled to 30+ countries.
Submitted May 18, 2017 at 09:52AM by Confusedwhatsnext http://ift.tt/2rv2hW7
