I will preface this with I understand how to save money just looking for the most effective route to go considering my situation.

Back Story

I grew up not having a lot of money which meant we always had to get the most for what we spent. I carried this mindset which I believe alone has prevented me from going into debt (besides the mortgage). My parents divorced and my mother while taking care of her kids didn’t seem to plan for the future as far as saving. She always said she wanted us to have everything. We were renting until I was 23 (2013) and child support and spousal support ran out. I luckily bought a cheap house that myself mom and sister lived in. I became a DOD contractor to make sure the bills were paid. (She lost her job December of 2013) I continued my schooling while working and trying to find a better job. In October of 2016 I got the job of my dreams and loved working there then recently in November of 2018 I was promoted to Director and I will finish my MS in the next 6 months.

Today

My younger sibling has married and moved out which just leaves me and my mother. Being my age of 28 I am starting to worry about my personal life and finances as well as my mothers. I would like to purchase a place of my own so I can start my own life within the next year or so. I have about $20,000 liquid and continue to save what I can. I am wondering what I could do to make sure that money I save can accrue interest or grow in general. I have about $13,000.00 in a 401k and $3000.00 in a 403b I also have PERS which is a pension that my job offers.

I am worried about leaving my mom but she is working a minimum wage job (she could be working somewhere better she has dual AA degrees in business and math.) She just doesn’t have the confidence to learn on the job. She is also getting part of my dads’ pension which is a small amount but should help ($400 a month). I have tried to make this house operate a cheap as possible all bills and utilities clock in at about ($1,200.00 a month).

I keep wanting to upgrade the house, I just purchased solar for it) but I know I want a house of my own as well but I worried lenders will give me a hard time since the current loan is in my name.

After college is done I believe I should be able to handle the current bills and still save around $2,000 a month.

I am just a little lost in what my next steps should be which is why I am reaching.