Hi r/personal finance, first timer here. I've been working on getting my life on track for a bit now and I've read some of the starter guides and top posts in the sub. I think I've gotten to a place where it would be good to ask for advice to see if the plan I had made was solid .
So the backstory, I had to drop out of school my third year because my parents couldn't afford multiple kids in college. My little brother was entering college that year and I made the choice to give up the money that I was receiving for my tuition from my parents for him to be able to go. My parents wouldn't help me take loans out for the fourth year(52k for 1 year) so I was forced to drop out. So far I have accumulated 25k total student loans for 3 years with the highest loan Intrest rate being 4.7%. I applied for an income based 10 year repayment program. So far I have not had to or been able to make a payment.
I had job 3rd shift that paid $15 an hour and 50 hours a week but I wasn't told I was a seasonal employee so I was making more money than I'd dreamed of and spent a little bit of it. More than a little bit of it really. After I was let go post holiday season I was pretty down and couldn't hold a job. Couple minimum wage jobs, some commission sales for art, few gallery shows but nothing reliable for income. Fast forward to now, I've moved states and I currently don't have to pay rent. I have a job working at a Japanese steak house and a second job at a grocery store
income Server: 2.37/hour 10-15 $ after tips. Im averaging 50$ in tips 5 hour shifts 2-4 shifts a week. Grocery store: 12.5/ hour and I'm working 28 hours for them the next three weeks. I can expense milage to the company so an additional 60$ there. Weekly take home should be 600$
Monthly espenses Auto insurance 100 Cell phone 65 Home depot 25 ($55 until paid off fully Mattress payment $25 with $552 left to pay off and a promotional period that ends October.
Expectted car repairs 100-400$ in the near future. I own tools and am good at fixing things with YouTube tutorials so any links to subs that can help diagnose problems would be great.
Resources : Checking 350$ Savings 115$ Cash 210 $
I have a credit card I haven't activated at 18% and a promotional that if I spend 500 in the first three months, I get 150 cash back. I'm wary to use the credit card But I got it so I could use it and pay it off every month to practice good behavior.
My goal is to a 3 year plan together. Let me know if I can provide any additional info (within reason) that I might not have thought to include. What's the best way to go about making and sticking to a budget for this long? How much can I reasonably save in this time frame?
Submitted August 13, 2017 at 10:08AM by Delawaredoberman http://ift.tt/2uD3Mn6
