Currently living at home and saving for a down payment on a home - no bills. I have until December to move out. Budgeting with YNAB.
Question 1: Do I have this allocated correctly? Should I scale down my 401K contributions until my higher interest student loans (5%) are paid off?
Question 2: I could buy a condo now and pay much less of a mortgage than I can renting in my city (including HOA). I would have to put down only ~6%. Thoughts? Credit score is >750.
Job
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$77,500
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15 - 30% bonus yearly in June
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Guaranteed 4% raise yearly
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1 week pay Christmas bonus yearly
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$750 deposited into HSA yearly by company
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4% 401K Match
Debt ($46,200)
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Student Loan debt: ~$28,500 (paying ~$550 per month - minimum payment is $370 per month)
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Car Loan: ~17,700 (paying $340.50 per month at 0% interest)
Savings
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Emergency savings: $3000 (3 month security fund)
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401K: ~$10,000 (contributing 8%)
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Savings for down payment on home: ~$12,200 (gaining 1.15% interest)
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HSA: maxing out ($92.30/paycheck)
Spending
In the past three months, I have spent ~$2,200 on drinking, eating out, and music. I am scaling back big time.
Ninja edit: this sub is amazing. The only reason I am doing as well as I am is the advice I read here.
Submitted August 11, 2017 at 10:37AM by Techfuture2 http://ift.tt/2wBr8L9
