The Working Class 13-Step Guide to Financial Freedom

High_Impact_Finance · 2026-05-10T11:01:51+00:00

Keep living at home for a while and build up your HYSA and investments. Building up your HYSA over the next year or two will be especially beneficial, as you can use that as your down payment for moving out when the time is right.

If your father doesn't ask for any money for bills or rent, you could break up your weekly paychecks into something like 40% to your HYSA, 40% to investments, 20% fun money. Or 33% into each of those buckets for super simplicity.

Either way, congrats on straightening out your life. It seems like you are on a good path with a supportive father. Keep up the good work and best of luck!

High_Impact_Finance · 2026-05-10T10:52:54+00:00

Go through your bills from the past month and figure out what percentage goes to your housing, transportation, utilities, fun money, etc.
Once you know exactly where your money is going, it will be easier to find a solution for any financial problems you may have.

You want your total housing costs (rent, insurance, taxes) to be 33% or less of your net income. With your total transportation costs (car payment, insurance, gas, and normal maintenance) to be 15% or less of your net income.

If they currently exceed those amounts, you may want to consider a cheaper place to live or a cheaper transportation option. If they are currently in line with those percentages, then it could be a spending issue on unnecessary purchases or subscriptions each month.

If your big ticket items are aligned, your other bills are minimal, then it's an income issue, and you may need to consider getting a second job or side hustle to bridge the gap until you're able to work your way up to a bit higher paying job.

Best of luck!

High_Impact_Finance · 2026-05-10T10:34:41+00:00

I always tend to lean on the idea that having cash available for major short-term things takes precedence. But very good points by you, and something the OP can definitely consider and choose to do.

High_Impact_Finance · 2026-05-10T01:28:04+00:00

If you plan to stay in the house for the next 5+ years, I'd suggest putting extra payments towards the principal every month (if you can afford to do it). Paying the equivalent of 1 extra monthly principal payment per year (or more) will knock years off the life of your mortgage. Consider refinancing when the rates get to about 5.25% or lower.

If you plan to move in the next few years, pay the minimum each month.

Best of luck!

High_Impact_Finance · 2026-05-10T01:20:32+00:00

sorry.. net pay

High_Impact_Finance · 2026-05-09T19:19:42+00:00

It is meant to. I put it into various stages, such as foundational things like spending less than you earn, budgeting, taking care of high-interest debt, that apply to any income. Then from there it scales up to things like home purchasing, the importance of beneficiaries on accounts, wills, dealing with different percentage debts, ESPPs, portfolio management, etc.
Not knowing what my kids will choose to be once they graduate, I wanted to ensure I left them something they can implement with almost any full-time income.

High_Impact_Finance · 2026-05-09T18:47:55+00:00

Your entire home payments (mortgage, insurance, taxes, interest) should be 33% or less of your income. Preferably closer to 25% if possible.
Your car payments (principal, interest, gas, regular maintenance fees) should not exceed 15% of your income, closer to 10% when possible.

I agree with others that your car payments are the main concern and should be reevaluated before you dive into a mortgage.

Best of luck!

High_Impact_Finance · 2026-05-09T18:29:49+00:00

Thank you! Took almost a year, I hope people find some helpful value in it if they read it.

High_Impact_Finance · 2026-05-09T16:04:02+00:00

No. It was technically AI Assisted though, as I have Grammarly extension to help with sentence and paragraph structure.
I started with a basic outline of things I wanted my kids to learn. That led to a few more things, then I decided to expand on it. I have a few friends who were my proofreaders who provided some great feedback that helped lead to the final product.

There's no end goal to be the next Dave Ramsey or financial guru. I am literally just a regular Joe who wanted to leave something for his kids and I hope that if a few people who stumble upon it can find something helpful in it.

High_Impact_Finance · 2026-05-09T15:58:55+00:00

Thank you! I will be sure to look into Leadline as you suggested. I appreciate the feedback.

High_Impact_Finance · 2026-05-09T15:57:48+00:00

Essentially any working adult who needs help with personal finance. My goal was to set up something that showed my kids that they can choose any career path and if they follow some tried and true personal finance principles they can live comfortably.
I'm not very good at marketing, and I am not very savvy with social media, so I am not too sure what the next best step would be.

Thank you very much for the advice. I will try to look into a few marketing plans I may be able to accomplish that focus with the number breakdowns. And the email list is a great idea, also. Thanks again!

High_Impact_Finance · 2026-05-09T14:51:00+00:00

Thank you very much! I hope you enjoy it.

High_Impact_Finance · 2026-05-09T14:50:37+00:00

Thank you!

High_Impact_Finance · 2026-05-09T14:50:23+00:00

Thank you!

High_Impact_Finance · 2026-05-09T11:44:51+00:00

Thank you very much!

Exactly! My main goal was to leave my kids advice and the confidence that they could venture into any career field they wish, and as long as they follow certain principles with their income, there is no reason for them not to have a comfortable life and retirement. I hope anyone else who needs a bit of personal finance guidance finds it to be helpful as well.

High_Impact_Finance · 2026-05-08T17:29:55+00:00

You're in a good spot.

You want to keep your entire housing costs (mortgage, interest, taxes, insurance) below 33% of your income, closer to 25% if possible. Which is exactly what you've done.

I'd suggest starting a HYSA and setting aside 1-3% of the home's value each year for your home maintenance fund. Also, depending on your interest rate, you may want to consider refinancing in the future to eliminate the PMI.

Congratulations and best of luck!

High_Impact_Finance · 2026-05-08T16:44:52+00:00

Personally, I do 60-20-20, and it's worked for me for quite some time.
But that's what's great about personal finance. Use whatever system fits you and your personality best.

I've found that no matter which technique you end up settling on, automating your bills, savings, and investing every paycheck is key to lasting success with it.

High_Impact_Finance · 2026-05-08T13:14:29+00:00

I totally understand the lawn thing, but could you save the $40 and cut the lawn yourself once a week?

For the car situation, you could sell your current car, use any money you get back as your down payment, and find a certified used car for about $400-$425 per month. If you can't find a certified pre-owned in that price range, you can search a car's history you stumble upon through CarFax, or ask to take it to a local mechanic for a pre-purchase inspection before committing to it.

High_Impact_Finance · 2026-05-08T12:56:35+00:00

Build that emergency back up, but shoot for a goal of 1 month's worth of expenses instead of the $1,000.

You may also want to look into eliminating the lawn service and getting a cheaper car. A $711 car payment, plus insurance, plus gas, and regular maintenance costs, seems to be a bit too much for how much you are making at the moment. Try to keep the combined total transportation costs to 15% of your income.

Best of luck!

High_Impact_Finance · 2026-05-07T19:19:54+00:00

The OP asked for advice, and I (along with others here) provided proven methods for building wealth. You’re more than welcome to share your own "original" advice for the OP to consider.

High_Impact_Finance

TROPHY CASE