Ep. 87: Phil is single and ready to mingle…if you’re financially responsible

M$D: 11/17/40

Meet Phil

Age: 31

Phil’s main concerns, in his own words:

My girlfriend and I moved in together almost 4 years ago. I bought the house, she paid most of the expenses. She broke up with me in December and I am trying to find my balance living alone and managing all the expenses. So far I feel like I am doing OK. I have been able to keep all of my bills current without cutting back on any of my previous savings levels. I am trying to stick to a budget, but it has been tough these first couple months. I make about $1400 biweekly base, but am on call every third week which increases my pay. My mortgage is 850 a month. My other fixed living expenses are about 2,0000. I owe about 5,000 on an auto loan that I have been using extra income to pay off. Savings-wise I have 41,000 in a Rollover IRA, 32,000 in a ROTH IRA, 18,500 in my 401K at work (3% plus 5% match), 1,800 emergency fund, and 12,000 in savings. I want to make sure I can keep up with all of my expense, but also not fall behind on debts and savings in this newly single life.

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