Hello everyone,
I hope you are well & take the time to read my post.
Some quick backstory for context - 28 year old Male from the NYC area that is 2years out of an irresponsible lifestyle, to say the least. I still live with my parents, and for the longest time I have been wanting to move out, but I cant seem to get myself to the point where i feel financially stable enough to make the move (sad but honest). I didnt have the best examples when it comes to saving money/building personal wealth what so ever. My credit was in the 500's in about Sept2019 - I have been able to work my way up to about 630-680 (depending where and when i check)
As of this week I have paid off my credit card debt down to 5% utilization. I have 5 credit cards (2 cap - 1 chase - 1 macys - 1 amex) - The amex is an account that i was added as an authorized user by my boss to help build my credit. his higher monthly balance is around 20k-25k avg per month. I regret ever getting the Macys card but it is what it is.
I also started working on a fidelity account with different investments (mainly ETF's) I am at +5.06% overall since starting the account back in Nov2019 - I also have an account with about $200 worth of LTC (@ about $35.25) - in total a little over $1500 invested.
I have not started to put towards an official savings yet. I also have a hard time sometimes with impulse spending/budgeting. Pretty much, I am looking for any kind of helpful advice to help me continue moving forward towards some type of financial freedom.
- Annual take home around 50k +/- (Commission based salary) one month i can make 3k-7k and one month i can go home without a single dollar
- Expenses would be around $1,500-$2,500 a month (between travel expenses, work lunch, cell phone, misc (random daily spendings) and i give my parents $500-$1000 a month as well since their financial situation is horrible
- I am willing to spend up to $1,800-$2,000 on rent (if my budget allows) ideally a 2 bedroom so i can use the second as a home office, but i live in the NYC area and although it is possible to find, it will be tough.
If you feel i might have left out any important information to help build the picture, feel free to ask. I look forward to reading any responses!
All the best
Submitted May 27, 2020 at 09:17PM by yeahwtvr https://ift.tt/36C18li
