Two years ago, I was 22 years old and making 100k/year. I was frivolously spending like it was my job. I was making great money, but not accumulating anything at all. I had an expensive apartment, an expensive truck, bikes, a boat, and would regularly go out and party my money away with friends. I was doing all the things you expect a dumb 22 year old to do with money.
Shortly after my 1-month update, I got rid of the apartment and moved north for my job. I got rid of the bikes, the boat, and replaced the truck with one that is quite a bit cheaper, and actually a lot nicer (it pays to shop around).
The new project I was being moved to allowed us $3200/month (tax free) on top of our regular pay as a living allowance for moving. We are free to use that money in any way we like. Instead of renting an apartment or house, I decided the best option would be to buy a travel trailer and try to live in it. I'd done it before when I was extremely poor and alone from 16-19. The idea was that with the $3200/m, the travel trailer would be paid off in no time, and rather than dumping money into an apartment that I have to move out of at the end of my assignment with no reward, I would come out in the end with a nice RV essentially for free.
A few months in, I hit a rough patch in regards to my financial goal. Friends from work would want to go out every night to the bar and I started joining them more and more. I slowly but surely fell back into my old ways. We would go nearly every night, spending hundreds at least a couple times per week. I quickly realized what I was doing again, and put an end to it. I got myself back on track and promised myself that it would never happen again.
I started saving everything I could and depositing a small percentage of my wage into a "Fun-Fund Account". If I was going to make a frivolous purchase or go out and drink with the friends, it was going to come out of this account. I quickly paid off the camper and the newer (used) truck that I had replaced the old truck (that was costing me $1,000+ per month) with.
I have a Roth 401k with a 6% match that I max out every year, and have an emergency fund to allow me to live comfortably for some time. I want to start investing but am not sure where to start. The typical answer here seems to be to set up a Vanguard account. I need to start doing my research and get this ball rolling.
After nearly 2 years of working in the northern US (a couple months ago), I got an assignment offer to move to Egypt. The pay was higher, the uplift was high, the hazard pay was great, the bills were 100% covered, and the 8/2 rotation was just too good to pass up. I jumped on the opportunity.
I am currently living in Egypt in a hotel with other expats. The hotel, meals, commute, and any expenses are 100% covered by the company. The company covers 100% of taxes and is not forcing us to stay out of the USA for the required amount of days in order to work tax-free. In order to offset this, they are taking a 12% "hypothetical tax" which I'm fine with because I plan on spending some time at home and will still be saving.
I just wanted to share my story and say thank you to the wonderful people here at /r/personalfinance. I wouldn't be here without your helpful suggestions. If you have any questions or more suggestions for going forward, I'd love to hear them as well!
Submitted July 16, 2017 at 12:43AM by TyeWin http://ift.tt/2tWF5Er
