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What should my next moves be? Should I be focused on knocking down my student loan as soon as possible, or invest, or just save cash? What would you do? Am I in a good place?
I also need to
Here’s my financial situation & budget:
Cash flow
--
Net salary: $4,800 per month
Rent+util: ~$1,300 per month (for now, because I live with my girlfriend – otherwise the actual rent is $2,250 and utilities around $40 per month)
Automatic savings: $1,000
Remainder (for personal expenses + anything else): $2,500
Assets
--
Cash in US: ~$24,000 (basically my 6-month cushion, in case I need to live 6 months alone in my apartment and without a job + an extra $8,000)
Cash in Canada: $700 (which I replenish from time to time to auto-pay the student loan)
Retirement savings in Canada: $1,005
Debt: $14,370.82 student loan in Canada (govt loan at %3.5 interest)
Zero credit card debt
What should my next moves be? Should I be focused on knocking down my student loan as soon as possible, or invest, or just save cash? What would you do? Am I in a good place?
I also need to
Here’s my financial situation & budget:
Cash flow
--
Net salary: $4,800 per month
Rent+util: ~$1,300 per month (for now, because I live with my girlfriend – otherwise the actual rent is $2,250 and utilities around $40 per month)
Automatic savings: $1,000
Remainder (for personal expenses + anything else): $2,500
Assets
--
Cash in US: ~$24,000 (basically my 6-month cushion, in case I need to live 6 months alone in my apartment and without a job + an extra $8,000)
Cash in Canada: $700 (which I replenish from time to time to auto-pay the student loan)
Retirement savings in Canada: $1,005
Debt: $14,370.82 student loan in Canada (govt loan at %3.5 interest)
Zero credit card debt
$2,500/month in personal expenses? Seems a bit high if it's only for you (which I'm assuming you mean based on the way you are listing "your half" of the rent.)
$2,500/month in personal expenses? Seems a bit high if it's only for you (which I'm assuming you mean based on the way you are listing "your half" of the rent.)
I forgot to specify that "Personal expenses" for me is the remainder – the money that isn’t allocated anywhere. Anything that’s not spent of that amount goes straight in to my savings.
I also forgot to mention another ~$7,000 lying around which I’m gonna use to buy some stock options from my previous employer.
I forgot to specify that "Personal expenses" for me is the remainder – the money that isn’t allocated anywhere. Anything that’s not spent of that amount goes straight in to my savings.
I also forgot to mention another ~$7,000 lying around which I’m gonna use to buy some stock options from my previous employer.
Pay off your student loan. Stock options? Not if you have debt. Grow up and pay it off.
Your savings is at what? >1%? Pay off your student loan...NOW.
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