Am I in over my head?

[Anonymous]

I'm not sure why you worry about money at $120K for a single person. Also, you are saving 20% which is a huge amount.

Just my numbers, I get about $3600-$4000 a month after rent, savings, and medical.

What is the problem exactly?

[Anonymous]

Anonymous wrote:

Anonymous wrote:My 28yo daughter's solution was to take down her 401k contributions from 15% to 11% for a bit to give herself more breathing room. She also has an inheritance and savings, so she feels okay about doing this.

Why a parent has this much involvement in her 28 year old child’s finances is bizarre to me.

No need to be judgy. We help our daughter financially, and she turns to me for financial advice.

[Anonymous]

You are doing fine. When you have variable in comment, it adds an extra wrench into the equation. People who get a paycheck every two weeks don’t understand. Just budget and try not to overspend each month. I understand how credit card bills can go up a little bit each month or down a little bit each month, especially with travel and weddings. Be intentional with each transaction on your credit card and know what’s going out. You may want to take a tally every week or two through the month to see where you are spending money. I agree, don’t dip in into savings or your inheritance.

[Anonymous]

You should read Ramit Sethi’s I will teach you to be rich. It is stupid title that makes it sound like a quack book but it’s a good book to help think about how you use money.

A big part of his focus is on just taking some time to think about what you want to spend your money on and consciously spending money on that— not over-saving and not spending on autopilot because you fell into a pattern or you copied a friend’s patterns but figuring out what you should spend on.

[Anonymous]

Your credit card bills don't seem that high, especially since you travel. I'm single and charge everything. My balance is usually 2k and maybe goes up to 4k when I go on vacation. I've also been accused of being a cheap ass my whole life lol, so I can assure you that I'm not a big spender. I think you are doing just fine OP.

[Anonymous]

If you are working 60 hours a week your hourly rate is $39 per hour. which would be annually $80 at normal full time work. Your Salary with 40 hours a week is $58 per hour.

Do you get OT or is your job using you?

[Anonymous]

Anonymous wrote:I live downtown and very close to work! Would have to get a car otherwise or have a long commute. I also work 60+ hours a week.

A lot of my friends are getting married right now so I do have a trip or two a month

You need to find a guy with a good income ASAP and within a year make sure he proposes or you are gone. I should give you my wife's info and she will get you up to speed lol.

[Anonymous]

Anonymous wrote:If you are working 60 hours a week your hourly rate is $39 per hour. which would be annually $80 at normal full time work. Your Salary with 40 hours a week is $58 per hour.

Do you get OT or is your job using you?

I’m in sales so I work when work needs to be done

[Anonymous]

Anonymous wrote:

Anonymous wrote:I live downtown and very close to work! Would have to get a car otherwise or have a long commute. I also work 60+ hours a week.

A lot of my friends are getting married right now so I do have a trip or two a month

you are spending too much. start saying no to some of trips.

Yeah you don't need to go to every destination wedding or exotic bachelorette extravaganza.

[Anonymous]

A 6 figure inheritance? What does that mean? Hopefully you aren’t getting an inheritance for a long time. And obviously there’s a difference between 100,000 and 999,999.

[Anonymous]

You are doing fine OP. You have emergency fund, funding retirement at a good rate, and seems that you are paying your credit card every month. If you want to save more, save more - open an investment account. If you don't want to, no worries. You are fine either way. You seem to be in a good balance of living life now and saving for the future.

[Anonymous]

Anonymous wrote:I’ve never been able to find a roommate here unfortunately! All my friends live with their partners, alone, or at home still

Isn’t it crazy?! My kid moved home after college and makes about what you make. He can’t move because rent will chew too much into his financial goals. He’s hoping to save enough to buy a home here in NoVA. I feel really bad for young people trying to make it work here.