Hey PF, longtime lurker and first time posting here so sorry in advance for any rambling or sidetracking. Basically i'm earning about $1500 after taxes each month with very little monthly expenses. Besides my car which costs about $200 a month(Gas and insurance, car was paid for with cash saved from the pizza job, 2004 Corolla) I do not have any monthly REQUIRED expenses. I currently am a junior going into my senior year of HS and have two jobs. One working at a local pizza joint about 20 hours a week and the other being an IT Tech through a co-op program with school, also about 20 hours a week. I do plan on going to college to extend my education in the IT/Computer field once I graduate. I am turning 18 in a week from posting this and plan on doing a few things. Here's a run down of my "plan". My only financial/bank account is my checkings which has 2k(Basically emergency fund). Once I turn 18 I plan on applying for a credit card to start building my credit(Paying the balance in full each month, plan on no debt). I also want to open up a online savings account with ally so my money can accumulate some interest, it's not much with a 1.05% interest rate but better than having it sit in the checkings gaining me $0 like it is now. Lastly I plan on opening up a Robinhood account(Fee-less stock trading app) so I can begin getting real experience with the stock market. After my monthly expenses which will be put on the CC and paid off in full I wanted to put 80% into the ally account and 20% into the Robinhood account. This allows me to save while still going to school and preparing for college. So now that ive laid out my plan to you guys im still asking myself whats next? I know my plan is not perfect and thats why ive decided to post it to gather peoples thoughts/ideas for improvement and also get any tips, because id rather learn from others mistakes than my own. Thank you guys in advance for the read and appreciate any criticism/advice for my situation!
Submitted June 21, 2017 at 09:16AM by Ajayden123 http://ift.tt/2sTL4dD
