Posting here because I’ve (28F) realized that over the past few weeks I’ve been more stressed about my finances, and I’m not sure if it’s reasonable stress or if I should chill tfo. So here’s the picture: I currently make 80k a year, and have 20k in an employer retirement account (9% required contributions) and am working towards building 6mo of expenses (about $6k saved currently, 14% take home pay going towards it each paycheck). I have $1500 in student debt and no other debt.
There are some external factors at play. I have a 2 week European trip coming up in June, and I am allocating funds to cash flow the trip so that’s built into my budget. Additionally, me and my boyfriend will be moving across the country in August for him to start a new job, and I will start applying for jobs in the next few weeks.
I’m pretty obsessive about my finances and making sure I stick to my budget. However, I just have this background anxiety that says my financial progress could slip away with this upcoming move and not having a job locked down. What do y’all think? Do I need to chill? Anything I’m missing from a finance standpoint? Any suggestions?
Should I be stressed about my finances?
byu/sandpit69 inpersonalfinance
Posted by sandpit69
7 Comments
If you’re asking if you should be anxious about moving cross country without a job with $6k in the bank?
Yes, that should give you some anxiety.
It all comes down to how quickly you’ll be able to find a new job in the new area. Do you have any idea of that based on something beyond vibes?
What is your current expense rate per month? If you’re spending 3k/month then you have 2 months to find a job before you are broke. Unless you are counting on the boyfriend’s money.
My personal philosophy is if you aren’t stressed about your finances, you aren’t paying close enough attention (regardless of your income level).
I would be extremely stressed taking a European vacation and moving within 2 months of each other and only having a $6k buffer. That could get knocked out fast.
Girl you sound like youre doing amazing!! 80k and low debt? Chill tf out about the stress, big moves always feel scary tho I get it <3
Well if you feel stressed its probably because there is a good reason. In this case it seems that you have not planned well the emergency fund and made enough research about the job market in a new city
You are in good shape and that’s a worthy worry. Europe trip and big move is a double stress. Consider doing only one. Get your emergency fund complete before you move.