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Making a realistic budget? (hexbear.net)

submitted 2 months ago* (last edited 2 months ago) by [email protected] to c/[email protected]

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I work a travel job where meals are covered, and on my first monthlong work order, napkin maths says I will have just under 10k at the end of it.

Coming from a life where I lived in overdraft and HEROES act was peak living, I have no real idea what to do with this much skrilla.

I use a budgeting app that autopulls from my acccounts, and those show that I spend about $1200 per month without rent expenses.

I aim to put about a third of this money inyo index funds, and do mutual aid where I can, but am wondering what are some things more experienced chapos can offer to take into consideration when budgeting.

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[–] [email protected] 7 points 2 months ago

Max out employer-matching 401k if you have it. Shove a lot of money in your IRA for tax purposes if it makes sense. Invest as much as you can as early as you can. Putting down 10% more in your 20's is going to be much more useful than putting 50% more in your 60's

High yield savings accounts are good but a lot of them require $100,000 to reach the top amount.