Long story short: I want to use my whole paycheck to help save for a car and other expenses rather put a percentage into a 401k (roughly 18 months without adding to it). Is this a decent idea?
Im 22 and I have no money saved up with a car I want to buy when my lease is up in 18 months. The toal monthly payment is $480 and can buy it for $11,000 at the end (possibly cheaper, car buying/leasing is all new to me). I have a credit card with $700 on it that I would like to get payed off by the end off this month if not next. I won't have to move out of my family members house which is rent free until August. I start a new job Friday and need to figure out what I'm going to do about the 401k option, I personally think i should hold off on it until i have enough money saved up to buy my car at the end of the 18 months, pay my cc off, and have money for rent, utilities, furniture, ext. The job I got will be in a field I'm happy to spend the rest of my working days in with gaurenteed raises. It's a 7 dollar an hour pay increase and will be working at least 20 more hours a week. If you where in my shoes what would you do?
Submitted April 10, 2019 at 11:57PM by overtherainbow96 http://bit.ly/2Z4FQbO
