I 23f have a 8 month old daughter. I am a single mom, I make 40k a year. I pay $700 in rent, $90 for cell phone, $90 for car insurance, and have $3500 in debt for credit card/dental work. I also pay my dad $100 every two weeks for childcare (babys father pays the rest). I do not get child support, my job is the only source of income.
I currently put 9% of my check into my 401k and my work matches and adds 3%. I also have a life insurance policy from my work of $250k. In totally that takes $200 out of my checks.
I want to save money for my daughter's future but I dont know where to start. How much should I be putting away? Where do I save it? I'd prefer it not to be a college only savings and would like to continue for life for her as I only ever want one child. How has other people saved for their kids?
Submitted December 28, 2020 at 08:28PM by necro_fascitis https://ift.tt/38D4HJs
