Howdy! I’m a 20 years previous undergraduate pupil beginning grad faculty within the fall (I a graduating two years early). I’m usually unhealthy with cash and fairly financially illiterate however I’m fascinated with studying.
In highschool I usually spent each penny I made, and my first yr of faculty I didn’t work and blew by means of most of my financial savings. Nevertheless, this yr I’ve been making an effort to be higher with cash and be taught extra.
I began as a resident assistant in August and I make $12,000 a college yr and an extra ~$3,000 over the summer time. I save half of all my paychecks ($600 a month) and generally extra relying on what cash I’ve left over on the finish of the month. Earlier than beginning the position I had ~$1000 in my financial savings and after one semester I now have ~$6000. I plan to maintain this job till Might of 2026 and proceed saving as I’m now. Beginning within the fall, nonetheless, I will probably be paid moreover for lab work as a part of my masters diploma (I have no idea what this will probably be). I pay no payments (I paid for my automotive in full, my dad and mom pay my mobile invoice and automotive insurance coverage, I’m nonetheless on their medical health insurance, and my tuition and housing is paid by means of scholarships).
I even have one bank card (Uncover It) that I received in July. I make all my purchases on this card (~$600 a month) and pay it off in full every month. My credit score rating began at 670 however has stayed round 720 the final a number of months. My restrict began at $2000 however is now $2800. My size of credit score is 1 yr and 1 month on account of being a certified consumer on one in all my dad’s playing cards.
My query is, what ought to I do with my cash? Ought to I begin investing? What ought to I put money into and the way a lot? Ought to I open one other bank card? What card ought to I open? I do know nothing about cash however I’ve had folks give me this recommendation. However I don’t know the way a lot I ought to make investments of my financial savings cash or what to put money into or what having extra bank cards even means or does. I’m not involved about maintaining a lot of an emergency fund right now since gratefully my dad and mom have a tendency to assist out with these bills.
Thanks a lot! I admire the recommendation.
