Me
- 27 years old
- 34k / yr (gross)
- Work Overnights 12 hr shifts 3xwk
- In school for Nursing (ADN just started) and Music Composition (BM 6 hrs left)
- Around $2.5k in savings - 700 is in a 403b, 1200 is in savings account, and like 300-400 is invested (currently)
- 60k in student loan debt
- 16k Auto Loan 7% interest
- 7k Auto Loan (bought it for my mom she was having to walk everywhere... I know dumb financially but, I love my mom) 12% interest
- $400/mo rent
- $150/mo Various bills and utilities
My Long Term Goal
- A House (modest size - 1 or 2 bd 1ba) in the houston area or a little north.
- Enough in savings to start a small business.
- Grow my wealth for retirement (and more if possible)
Current General Plan
- Reduce spending
- Reduce Bills (as much as i can)
- Refinance Car loan
- Finish nursing school and start work as a nurse increasing income by 20-30k
- Grow savings / 403b / and investments until i get about 20% down for a house.
Specific Short Term Plan/Ideas
- Find some way to reduce rent to 0 - I was looking into the idea of /r/vandwellers. The initial investment can be high but its something that you get back fairly quickly with 0 rent. But this comes with some very specific hurdles that are hard to get over.
Another Option could be attempting to get a tiny house, but In the houston area I'm unfamiliar with anywhere that you could put them, and if the associated costs would outweigh the benefit. Although if its possible to AirBNB a tinyhome or to rent one out... it could be a source for a passive secondary income which brings me to my next idea
- Find a way to earn a secondary income - (open to ideas here other than an actual second job, I dont have the time with school and full time hospital work)
Does anyone have any advice for me? Open to suggestions.
Submitted September 30, 2017 at 08:14PM by xXConfuocoXx http://ift.tt/2g0LGpT
