Hello all,
I am 19 and will be moving out December 1st. I’d say I am doing okay financially for my age. Here is my current breakdown. I want to point out that my main job relies on tips + hourly and the amounts I list out will be based on the slow season only. I can average $150-$200 more during peak which is now. I don’t work full-time hours at either job.
IN:
Job #1 $1150 Bi-Weekly take-home ($150 in Cash Tips/mo)
Job #2 $742 Bi-Weekly take-home
Scholarship Grant Leftovers: $2000ish twice a year
Total: $3,884 Monthly
OUT:
Rent: $1209 (pet fee included $100)
Q1: Would it be idiotic to use my grant leftovers each semester (6 months each) to “discount” my rent to ease the burden and save more money?
Utilities: Will be no more than $125 for all of them combined. My apartment complex sets a flat rate that is unique to each building.
Car Insurance: $157.77/mo
Gas: $70/mo (this is a rough guess, it’s $35 a tank and it lasts me two weeks. I use all my cash tips to pay for my gas)
Wi-Fi: $55/mo
Phone Bill: $40/mo
Food: ($200/mo)?
Cat: $100/mo in reoccurring costs
Savings: $1000/mo
Total: $2,886.77/MO
LEFTOVER: $997.30
WHAT IM WORKING WITH:
No Debt (school is paid for)
Credit Card Balance: $7 (I like to carry the balance over each month so I can build my credit)
Credit Score: 710
Savings: $8,654.23
So, I finally achieved my original goal of making my rent 30% of my income. Now what?
I feel like I can do something smarter than just leaving it in my savings. Like a HYSA. I know I can do even more but I could use some guidance! Thank you all :)
Before anyone says moving out is a dumb decision because my leftover would increase tenfold… I did it for my mental health. I have awful anxiety due to my bio-family and really struggle doing things I love and not being guilt-ridden 24/7 I.e relax, game and not work myself to death. This is going to increase my QOL substantially! I hope you guys understand.
Submitted November 04, 2024 at 01:54AM by QuirkyLobster350 https://ift.tt/rKts7Uy
