Hi i would like to go over my current budget and see where I can improve. What can I be doing more to set myself up? Im 29 y.o.
My current take home pay is $2800 biweekly.
Fixed expenses: $1300 rent, car note, insurance
HYSA: $800
Roth IRA: $300
Cc payment: $400
Current debt
Cc debt: 8k 0% interest until Jan 2027
Car loan: $21,400
401k: 32k contributing 8%
Roth: 8k
HYSA: $1000
Im not in a rush to pay off my cc debt since its at 0% interest. I use my cc just for groceries and gas i usually dont spend more than $150 every 2 weeks. I plan to pay it off by the end of this year. Next year I intend to focus on paying off my car loan. Feeling kind of antsy about my hysa amount so going to prioritize that.
Do you think this is a good budget and plan?
Can someone help me with my budget?
byu/NNeferpitou inpersonalfinance
Posted by NNeferpitou
1 Comment
I would pause the Roth IRA and lower HYSA contributions to pay off the car loan and the credit card. Then resume those contributions and manage money so that you don’t have 8k on a cc again.
$400 a month, with 7 months left in the year is not going to get it paid off by the end of the year.
Also, this isn’t a complete budget. Renter’s insurance? Car maintenance? Streaming? Toiletries?