So after I pay everything ill have 250$ to live off for 30 days.. any advice would be great.. wut should I spend it on??
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What are you paying?
Rent 1172
Food 150
Cable 150
Utility bill 50
Owe my dad 200
Netflix 25
The shots for My puppy 135
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I would save the rest for food 150$ isn’t much for food for a month
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True but I usually spend 150 plus like 100 a week or 2 after
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Do like I do. Buy a book a month. Invest in your perspective. I don’t see dental on that list. Tooth ache?
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Canada has public dental care now
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Im in a similar situation with income. I get like 1000 bucks a month. My bills are $70- 300.00 electric
$90 Internet
$125 taxes
The rest goes to food and other purchases
I try to increase my savings every month
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I would save $125 for emergencies and spend the other $125 for personal enjoyment like maybe going to the movie theater or getting a drink at the cafe.
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It would be nice for you to be out of debt, maybe make a small payment to your dad. If I was you, I wouldn’t be in a hurry to spend it, unexpected things come up and you may need it at the end of the month. IDK, $250 isn’t a lot of money, maybe just use a little bit every now and then to eat at a restaurant a few times over the month. Like @see121 says, try to put some in savings in case of an emergency.
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Yes good idea im gonna put 200 in savings and spend 200 on groceries instead of 150. I get 145$ on the 21st gonna sit on it so ya I can easily save 200 into savings
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I would really put all excess money into savings, there is no point consuming for its own sake if there is no pressing need for anything truly important.
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You’ll need more money to save for your puppy.
Dogs are very expensive.
Vet bills alone are very costly
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If you don’t have an emergency fund you should start one by opening an Amex high-yield savings account (there are others, but my preference is Amex). AI can tell you all of the details, including making sure that your bank doesn’t charge a fee for external ACH transfers.
The current yield is 3.2%, and the yield will go up and down based on the prime rate, but it’s much better than nothing.
Over time the money compounds if you don’t touch it. For example, if you made an automatic transfer of $50 per month for 30 years, and the rate stayed at 3.2% for the 30 years (which it won’t–but this is for the purposes of demonstrating compound interest), you would have $30,156.78. You contributed $18,000, and the rest is interest.
Emergencies will happen, so your emergency fund will, hopefully, cover the cost of the emergency, shielding you from having to take on debt.
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