Reply to Millennial making 45k - how feasible does this budget sound?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What is your interest rate on car? Unless it's very high I wouldn't pay that aggressively.

I would really try to work on the blowouts cost...would even permanently straightening your hair be cheaper in the long run? Or figuring out a cut that works for curly hair?

What are your long term prospects for increasing your income? Can you babysit for extra cash on the weekends? I did that when I was in my 20s and made an extra $200-$500 bucks a month that way.[/quote]

Interest rate is very low at 1.49% APR. Just hate the debt.

You're right, I need to start giving up my weekends for babysitting. [/quote]

Don't give up your weekends but babysit 1-2 nights a month. That will help build a small cushion.

With that low interest rate I would wait til the end of the month and split half your leftover funds between savings and paying off the car loan.

Are you planning to stay at this job? How are your prospects for raises, bonuses etc?

What is your savings like?[/quote]

I would love to stay at my job, but its budget is so tight I don't think there is much potential for raises. I need to find a new one. (I could probably make $55k elsewhere.)

Savings is about $7k in retirement, $1k in cash savings. [/quote]

I would definitely advise you to build your emergency fund- 6 months of expenses- before paying off your car.

Also definitely start looking for a new job where you can earn more money.

Honestly, your budget is in decent shape. I made much less than you in my 20s and paid higher rent- and I had student loans. [/quote]

Thank you for your feedback. I feel very fortunate that my parent's paid for my education, and I don't have student loans added to this mix.

To all those saying that I should cut back on the blowouts - you have me convinced. But I'm an early-20s, single woman and my appearance is pretty important both in the professional world and when going on dates - does this make a difference to you?[/quote]

I'm the PP who suggested your blowouts were unnecessary and this doesn't change my opinion at all. They ARE unnecessary. You can have absolutely GORGEOUS curls. A blowout doesn't make you beautiful. Working with what you have, learning how to style your curls, that is incredibly important given that you've made it to your 20's and don't know what to do with your natural hair. There are plenty of stylists in this area you can make an appointment with for a style. At this appointment, you can discuss products to use and you can even ask them to suggest store-brand dupes of products that'll work with your hair so you can save a few dollars. Any guy you date - at some point - will see your hair au naturale, so the dating thing isn't an excuse. And I know PLENTY of very successful women - several in my own circle, one being my own sister - who have beautiful curls and their hair hasn't affected their employment or professional development one bit. [/quote]

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