Meet Grant
Age: 26
Salary: $60,000
Employment: Engineer
Grant’s main concerns, in his own words:
We are newly weds with big plans for the future, but a lot of loan debt lurking. I have felt pretty confident in managing my money since college, but recently feel like with two incomes I need some better direction going forward. We currently rent an apartment in Indianapolis and have plans to move to Orlando (and buy our first home there) within the next 5 years in pursuit of career dreams.
I’m an engineer with as salary of $60k, my wife is a dietitian making a salary of about $42k. Together we are still in the process of gathering our money to be in the same account, but we have approximately $40k in savings and $3k in checking accounts. I have about $10k in my 401k which I contribute 5% to each paycheck.
My wife has no debt to her name . I have about $70k in student debt (been paying regular and $7k in a car loan. We both use credit cards for cash back, paying them off monthly
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Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.