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Savings: $71 000 (no retirement savings, roth ira maxed out. Half in equities, half as cash)
(*Took out a $15 000 credit card loan 1% for 10 months to invest in the hot stock market)
House: No house
Debt: None
Car: 2002 Toyota Corolla (paid off given to me from parents)
Rent: $310 (living in a ghetto neighborhood that is close to work)
Food: $150
Gas: $150
Insurance: 0 Parents paid for it
Cellphone: $30
Other: $600 (car repairs, going out, restaurant, etc)
Am I too frugal? Should I up my rent and live better?
Is that why I am still single?
What's your advice?
I'd up my rent and "live better" if I wanted a nicer place to live, period, although maybe women and friends would be leary of visiting in a tough neighborhood.
If you think you're "still" single because you live frugally, you'll going out with the wrong people. By the way, there's no law that you must be married at 26, although one would think so, from the number of people who magically find someone to marry that year of age. (I work with a lot of people in that age range, and it seems they all marry whoever they're dating when they're about 26. Not saying these are particularly good marriages).
I think people should marry if and when they know someone they want to spend their lives with who shares that feeling, pure and simple. It's not about a number. "Marry in haste, repent in leisure." After all, numbers and addresses and costs of living can be negotiated with someone, whereas connection cannot.
Is the 15K to invest in the market for the long term and ignore the noise, or to try your luck at a few individual stocks/speculating/trading?
I'm 'assuming' you want to jump on the train and try your luck at the 2nd option (since you mentioned the 'hot' stock market....just a word of wisdom, the overwhelming majority of individuals actually lose money, or woefully underperform people who invest w/an AA to their risk tolerance in low cost/tax efficient investments, and avoid the noise...
Is there room for advancement in your job? Your income is rather low, but adequate for a single person living a frugal lifestyle. If you ever plan to live in a better area, buy a new car or have a family, I'd concentrate on how you can grow your income.
You aren't too frugal unless you are miserable. I am very impressed with your savings at this age and modest income.
I wonder why your gas expenses are $150 if you drive a Corolla and you live close to work.
If your social life is not hurt by where you live, and you do not feel unsafe, then you may not want to do anything.
But you do WANT to have a social life at this age. Just don't stay at home all the time and play video games. Get out - meet people - while being sensible with your money.
Is there room for advancement in your job? Your income is rather low, but adequate for a single person living a frugal lifestyle. If you ever plan to live in a better area, buy a new car or have a family, I'd concentrate on how you can grow your income.
It is IT sector so I'd like to think there is room for advancement heh.
Quote:
Originally Posted by hoffdano
You aren't too frugal unless you are miserable. I am very impressed with your savings at this age and modest income.
I wonder why your gas expenses are $150 if you drive a Corolla and you live close to work.
If your social life is not hurt by where you live, and you do not feel unsafe, then you may not want to do anything.
But you do WANT to have a social life at this age. Just don't stay at home all the time and play video games. Get out - meet people - while being sensible with your money.
My gas expense is high because I do alot of activities heh.
e.g. driving to rowing practice, driving to gym, etc.
I don't feel unsafe in the neighborhood but I don't think girls would want to see my place lol. The inside is clean but the neighborhood is pretty crap.
I want to know why you took on credit card debt to invest. I think that is potentially dangerous. I remember trying to catch a falling knife during the Enron implosion with some energy stocks and got heard badly.
If you don't need to take the risk, don't. That would be my advice.
Also, get a nicer place you tightwad ha ha. Just playing. But seriously, no lady friend is going to want to come back to a dangerous apartment.
Even the worse neighborhoods I know have rent above $600. Where in the world do you live??
Savings: $71 000 (no retirement savings, roth ira maxed out. Half in equities, half as cash) (*Took out a $15 000 credit card loan 1% for 10 months to invest in the hot stock market)
House: No house
Debt: None
Car: 2002 Toyota Corolla (paid off given to me from parents)
Rent: $310 (living in a ghetto neighborhood that is close to work)
Food: $150
Gas: $150
Insurance: 0 Parents paid for it
Cellphone: $30
Other: $600 (car repairs, going out, restaurant, etc)
Am I too frugal? Should I up my rent and live better?
Is that why I am still single?
What's your advice?
That doesn't make sense to me.
Otherwise, you are doing great.
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