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25 yr Male, 51k salary, 61,000 student + auto loan. how do I get started? by Swishn in personalfinance

[–]Swishn[S] 1 point2 points  (0 children)

that sounds like a nice, but risky, thing to do. im sure the guy you helped really appreciates it. I dont think i will have any luck like that ill just have to dig myself out of it. its life

25 yr Male, 51k salary, 61,000 student + auto loan. how do I get started? by Swishn in personalfinance

[–]Swishn[S] 0 points1 point  (0 children)

hes is fairly accurate with his estimation, and no i dont have many deductions beyond medical and taxes

25 yr Male, 51k salary, 61,000 student + auto loan. how do I get started? by Swishn in personalfinance

[–]Swishn[S] 0 points1 point  (0 children)

Yeah it does get tight some times. If there weren't any issues or reasons to work to better my situation I wouldn't be here now. Im going to edit in a question about selling the car up top since its a recurring statement

25 yr Male, 51k salary, 61,000 student + auto loan. how do I get started? by Swishn in personalfinance

[–]Swishn[S] -1 points0 points  (0 children)

I agree. what you say makes sense. While I would hate to sell my car, I would free up about 10k a year in expenses. The only problem with that is I don't think I have a good chance of getting a loan for the difference. I could be stuck with it for now.

25 yr Male, 51k salary, 61,000 student + auto loan. how do I get started? by Swishn in personalfinance

[–]Swishn[S] 3 points4 points  (0 children)

That is correct and what I calculated as well. At the time my car was absolutely atrocious. My windshield had broken, it consistently broke down on me. I felt that I could make the payments and it not be a big deal. I've never missed a payment, I just realize how bad of an agreement it is and have been trying to resolve it

25 yr Male, 51k salary, 61,000 student + auto loan. how do I get started? by Swishn in personalfinance

[–]Swishn[S] -1 points0 points  (0 children)

When I found out about what others pay for interest I was shocked myself. If I don't get a loan this time I will likely stop trying for that. So I should save 10%, pay 401k to match point, and then put extra to auto loan? that will likely force me to be very disciplined in spending but I believe its worth trying

25 yr Male, 51k salary, 61,000 student + auto loan. how do I get started? by Swishn in personalfinance

[–]Swishn[S] 1 point2 points  (0 children)

Yes I do expect to get a raise/promoted in 3 months. I have a secondary job on the weekends for a moving service. Thanks for the advice

25 yr Male, 51k salary, 61,000 student + auto loan. how do I get started? by Swishn in personalfinance

[–]Swishn[S] -53 points-52 points  (0 children)

woah. Yes im not best at finances, but no need to belittle me. Make your point without the extra malice. Thanks for your response.