Hello Redditors, this is my first post in any reddit even though I read this subreddit often. I was wondering how I can improve my finances. Here are my details:
Age: 28 and single
Debt: Debt-free from school and any other forms debt
Salary: 87K, stable job
Emergency Fund: 10k
Retirement Savings: 13%+ 5% employer match=18%
Takehome:$4,454 per month
Mortgage: $2695 per month(100$ extra is given to principal) on a house I purchased in 2020 in Southern California with a 20% down payment.
Utilities(gas, water, electric, trash, internet):$250 per month
HOA: $130 per month; Groceries 200$ per month
Car payment: 525$ (just started), car insurance: $113 per month
Lifestyle: Very conservative, do not travel or spend on anything fancy aside from this.
Unfortunately, this does not leave much wiggle room to use money for myself to spend money on my own or establish my emergency fund faster, so I was thinking of either a second part-time job such as an online tutor like I have done in the past or renting out one of my rooms in my house but don't have any experience doing so. Any tips will be deeply appreciated.
Submitted June 05, 2021 at 02:56AM by Mathematician54 https://ift.tt/3po7cqT
