It's been over a year since I graduated from college, and I have been living with my parents. I am working toward being a freelancer, first by being a freelance transcriber on sites like scribie and TranscribeMe. I know the money won't be much, but I plan to divide my income like this: 34% for the taxes, 33% for Mom and Dad to pay for some of the bills (after all, I am living in the house, gotta help out somehow), and maybe 33% for myself (I'll divide this part up for courses, certifications, and investment in the stock market). I don't have college debt or any other debt like that because my parents helped me pay them off, so would using some of my income for investment in the stock market be a good idea? But then again, what if I get into debt? Should I further divide up my money for investment in the stock market into two parts: one to actually buy cheap stocks and one to put aside and grow in case I ever have to pay for market crash debt? Also, part of the money will be going to courses and/or certifications because my ultimate goal is to be a freelance translator. But at this rate, it will take 1 to 2 years of income from freelance transcribing in order to do so. So what if I save 34% for taxes and 66% for certification and investment? I also want to add that my parents have debt piled on debt, and they told me Trump's tax reform will make their financial situation more difficult, so as you can imagine, I feel like there's so much at stake and so much pressure on me to get rich as soon as possible and help pay off my parents' debt. How else can I divide up the money? What should I prioritize?
Submitted March 22, 2018 at 12:28AM by cantchooseanusername http://ift.tt/2DLVnBo
