So 22 years old. My full life, since i was 10, i been saving and investing with Stocks and CDs and mutal funds, yes, i did this with REAL money under my parents name at the age of 10.
The setup 1 month ago:
- Had an apt pre-paid for full a year with all bills paid
- Own car
- had ins paid for the year
- no debt
- 20% of paychecks were put into john hancock
- 50% was put into CDs
- 15% into stocks/mutal funds
- the rest was for cell phone bill, food, movies, ect…
NOW….:
- I bought a home $160,000
- I only make $9/hr with 32ish hours a week.
- Monthy payments are $1200 + $200ish in bills (including internet)
- I have one roommate who pays $550/mo with all bills paid.
That leaves me with about $300 a month WITHOUT any investments.
So until i get another roomate, i am in bit of a jam here.
Only $300 a month for john hancock, CDs, mutal funds, stocks, food, my play money?
Also note, my car is only going to last another year….
What should i invest in with so little money now?
Should i put my john hancock at 10%, and then live on the rest of the money?
Or should i just go for CDs now?
The other option is to pay off this morage ASAP.
only 5.375% but my 160,000$ home will cost me over $300,000 if i wait the full 30 years
I never had a problem when it came to money before, now i am rather scared since i have myself in a tight spot.
Once i get another roommate, things will be better than before, before rent was $415 with all bills paid. Once i get another roomate at $550 a month, i will go back to around that number for my housing costs….
