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18 years old, April birthday. Got a labor job at a place 40 minutes from my house. I make 19/hour, possibility of overtime in the near future, and I have a 401k that I'm currently putting 21% into (they match 12%).
After tax (and 401k) I make about $500 a week (first paycheck was around $620, and I got out early one of the days, and the 401k wasn't deducted, so it's a rough estimate), and am paid weekly. My first few paychecks are going towards luxury items, but once I have my "wants" out of the way, I'm going to start saving as much of each paycheck as I can to go towards a better/more reliable car, and moving out.
Ideally, I want to buy a car outright, doesn't have to be too new, something used I can get made in the 2010s with low gas mileage for the 10-20k range.
When I move out, my mom made a point about possibly buying a house instead of renting. I have a friend I was thinking of renting a place with before, but now I'm considering saving up for a down payment and buying a house within 20 minutes of my work, and just having him pay "rent".
I have no deadline, but ideally I want to move around the time I'm 20, if not sooner. I live with my parents and they are in no rush to kick my out, but I have 3 little sisters and would like to have more space.
What should I start doing now to make my goals possible?
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- 4 years ago
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