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Would you mind looking over my financial plan? Thank you.
I've been browsing the forums for a week or so - great info here. Much appreciated.
Now, I've been pretty broke my entire life(I'm 22). I'm now in a position where I have no bills, and I want to be as smart as possible with this opportunity. Ideally, I'd like to have 50k saved by the time I graduate college (3.5 years).
Current plan:
Regular monthly Expenses:
Gas: $75
Food: $100
Supps:$100
Regular annual expenses:
Car maintenance: ~$500
Debts:
$1,300 owed to credit card
Average expenditure per month: $325
Take home Income: ~$1700/month. (Should be closer to 3k by the end of the year, but can't be sure)
So my plan:
Put 20% in portfolio fund immediately. ($340) until credit card is paid off (1-2months)
Then, 50% in portfolio immediately ($850/mo)
30% in accessible savings account ($510/mo)
20% spending ($340).
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