Friday, May 29, 2015

How are my finances, and how can I put more money away?


I am 26, and will be 27 in two months. I just moved back home after a breakup (I lived with my ex), so I am a little excited to save more money, instead of paying for rent and utilities.

I have a good job in sales, so my salary varies. I make about $56k, but has the possibility of increasing, since I'm commissioned.

I have $8k in a 401k that I started when I was 24, and I have $6k in savings (and growing!). I just made the last payment on my credit card, so my balance is $0.

I have a car payment of $450 each month. Other than that, I have no debt.

I used to be very terrible with money, but now I am making a more concerted effort to save.

I am planning to stay home for a few months to sock away some more money because I'm thinking about buying a townhome or renting. How much would I need for these goals?

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