Income: $45,000 (Net Monthly Income: $2,400)
Employment: TV/Film Production
Savings and Investments:
- Not much
- $45,000 student loans
Rent – $950 (38% of Net Monthly Income)
Metro – $120/month
Utilities/Bills/Groceries – $600/month
Charlie’s main concerns, in his words
The Brooklyn years have taught me a great deal, but last Oct/Nov I realized I could either continue to be broke and unengaged in my expensive apartment at the age of 27. Or I could put the pedal to the medal and start the discussion of moving out at the end of my lease on March 31.
I have selected to do the latter, and am now working to realize my personal goals (finances included) as well as professional goals. There has been a great deal of back & forth about this decision, due to personal growth being a focal point behind the move.
The last few years, adult growing pains have combined with the overwhelming view of financial matters that need to be addressed for success as well. Starting things is always the hard part for me personally.
My savings tend to be minimal per check, $100 or less. I have a strong desire to do better and be better in this area of my life, as I know the responsibilities and expenses will only increase.
Due to parents with poor financial advice/practices, I fell behind in the game of credit and I have been working to understand how to improve that since graduating 3 years ago. Haven’t had the extra cushion to start to remedy this or begin paying my student loans.
1) I would love to finally be able to propose to my lady and marry/start a family in the next couple years. How do I save the money to do it?
2) Start preparing for all of the responsibilities that come along with those commitments. Be able to be sound financially, and maybe even flourish or thrive?
3) Should I move back to the midwest, given my income prospects in Brooklyn?