I just got my first postgrad job offer and I’m honestly trying to make sure I set myself up correctly from the beginning instead of lifestyle inflating immediately.

    I’ll be making about $10k/month before taxes in Albany, NY. Nobody in my family has really made this type of money at my age, so I’m trying to learn now rather than make expensive mistakes later.

    Current financial situation:
    • ~$15k debt across 3 credit cards
    • ~$5k debt student loans
    • ~$1k savings
    • Roth IRA with ~$600
    • 3 retirement accounts totaling around ~$4k

    Estimated monthly expenses:
    • Rent + utilities will probably be around $3k/month

    I’ve already been reading through the PF wiki/flowchart and I understand the general order is:
    1. Build a small emergency fund
    2. Get employer match
    3. Pay high interest debt
    4. Increase retirement investing

    But I’m struggling with what that realistically looks like in practice when you’re just starting out.

    For example:
    • Should I pause Roth IRA contributions temporarily while attacking CC debt?
    • How aggressive should I be with the emergency fund while carrying high interest debt?
    • Should I prioritize fully funding a 1 month emergency fund first?
    • Is it dumb to spend ~$3k (on par for something decent in area) on housing at this income level?
    • Any advice for avoiding lifestyle creep when your income suddenly jumps?

    I genuinely want to build good habits now while I’m young instead of ending up trapped in debt with a good salary.

    Would especially appreciate advice from people who had a big income jump in their early 20s and handled it well (or didn’t lol).

    23, first postgrad job paying ~$10k/month before taxes. How do I not screw this up financially?
    byu/Slim-Reaper2 inpersonalfinance



    Posted by Slim-Reaper2

    1 Comment

    1. Live like you are still in school, pay dents off as quickly as you can; and then still live like you are in school and invest the extra in index funds for the next 5-10 years.

      You will thank your past self in the future!

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