Hi all, turning 30 in a couple months and feeling all the things that come with it, particularly how relentless the march of time is.
So id like to know how im doing.
30m
Savings = 11k, my banks interest is about 3%. 401k = ~11k (i went to college late and theres a few years i wasnt contributing for that) currently contributing 2.5% to start lowering debts, particularly the car
Monthly pay = 3400 with EOY bonus that should be about 10k 850 rent (split with 3 roommates, will move in with gf at end of lease so may fluctuate a tad but not expecting a large change here) Car payment = 231 with 5.84% interest (I usually pay 3-400 to pay down, i have about 3500 left) Insurance = 130/mo Student loans = 75 (i pay about 100 or a little more) Utilities = ~100 Food = 4-600 depending on close im watching it Credit card = 100-150 (my limit is ridiculous but only currently have 1k on it, interest is 5%)
I generally have about 500 left over depending how spending goes or if something came up.
I have the 401k in a target 2050 vanguard rn, ut i feel like it just doesnt grow other than my contributions, is there a way to... not feel like that?
Would you increase contributions and lower debt payments? My employer matches up to 6%. Or would you attempt to pay them off as quick as possible?
I am attempting to find an at least similar paying job that is either closer to me or remote/hybrid as the commute will soon take a toll on my car and already has on mental (is about 40 miles round trip but traffic can make it close to an hour each way)
Any advice, comments, or concerns are welcomed.
original posted by yakobmylum to r/personalfinance on Thu, 29 Feb 2024 17:53:03 GMT.