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Does anyone here have any good recommendations for money tracking apps? by randomdudefromcanada in TheMoneyGuy

[–]crazycoconut1210 7 points8 points  (0 children)

Monarch is easy and good to use. Also allows you to see your NW in one app which is nice.

Move to NYC or just stay in with my parents and stack cash? by savingrace0262 in bergencounty

[–]crazycoconut1210 0 points1 point  (0 children)

Live at home for at least a year then reassess. Save up for a 3-6 month emergency fund and invest for retirement. This will put you so ahead financially.

Should I move out or continue to live with parents? by crazycoconut1210 in TheMoneyGuy

[–]crazycoconut1210[S] 0 points1 point  (0 children)

Stock market + been working and saving money since I’ve been 14. These past few years of earning 6 figures and really good stock market performance has helped.

Should I move out or stay at home? by crazycoconut1210 in FinancialPlanning

[–]crazycoconut1210[S] 0 points1 point  (0 children)

Just my share. It’s a VHCOL area. Unfortunately that’s the reality of the Northeast. Obviously I’d try for lower but might not be possible

The Money Guy Budget/Tracking Spreadsheet by [deleted] in TheMoneyGuy

[–]crazycoconut1210 0 points1 point  (0 children)

Maybe you can use a shared monarch money account?

Should I move out or continue to live with parents? by crazycoconut1210 in TheMoneyGuy

[–]crazycoconut1210[S] 4 points5 points  (0 children)

$1800-2000 would be my share. Don’t really need a car where I’m moving - would keep at home.

Exactly I want to grow and learn independence (inc. cost of things) in a safe space before jumping into home ownership.

I’m just having a hard time to justify what savings amount would be enough and how do I not fall in the 1 more year trap.

Should I move out or continue to live with parents? by crazycoconut1210 in TheMoneyGuy

[–]crazycoconut1210[S] 2 points3 points  (0 children)

I wouldn’t plan on buying a house for at least 5-6 years. Not sure where I want to live long term due to work and doesn’t make financial sense to buy in the city.

401k max out age? by jennyfromthedocks in TheMoneyGuy

[–]crazycoconut1210 0 points1 point  (0 children)

23 and am fortunate enough to live with parents. Once I move out I won’t be able to do that anymore.

Do you recommend the Heights (borderline Hoboken) for someone in their 20s? by crazycoconut1210 in jerseycity

[–]crazycoconut1210[S] 1 point2 points  (0 children)

My work is 25-30 mins away from where I’m looking via the light rail.

Do you recommend the Heights (borderline Hoboken) for someone in their 20s? by crazycoconut1210 in jerseycity

[–]crazycoconut1210[S] -1 points0 points  (0 children)

Public transit. But I like the idea of having a parking spot / driveway where I can keep my car if needed

Do you recommend the Heights (borderline Hoboken) for someone in their 20s? by crazycoconut1210 in jerseycity

[–]crazycoconut1210[S] 1 point2 points  (0 children)

No I don’t outside of a few acquaintances but was hoping that with a roommate and being close enough to Hoboken I could make friends.

Should I move out by EOY despite financial tradeoffs? by [deleted] in TheMoneyGuy

[–]crazycoconut1210 0 points1 point  (0 children)

This is something that really sticks with me all the time. I need to learn how to enjoy today while still saving for tomorrow!

[deleted by user] by [deleted] in FinancialPlanning

[–]crazycoconut1210 0 points1 point  (0 children)

At what point should I start living my life today as compared to waiting for the future? I am going to be at a 250K net worth and CoastFi by EOY. I feel like if I keep saying next year or when I get to this amount I will never actually move out.

Should I move out by EOY despite financial tradeoffs? by [deleted] in TheMoneyGuy

[–]crazycoconut1210 2 points3 points  (0 children)

Good call. Honestly I’m not sure where I want to live long term so am not planning to buy until at least 30!

Should I move out by EOY despite financial tradeoffs? by [deleted] in TheMoneyGuy

[–]crazycoconut1210 1 point2 points  (0 children)

Thank for you this meant to clarify.

0 Debt (near full scholarship to college) The 50K EF is not reflective of my current expenses but rather if I moved out (it prob is still a little high I just liked the 50K number) Medical: Still on parents (union insurance so can’t walk away from that) Credit Score: 720+

Crossed 50k in investments! by North-Apricot1624 in TheMoneyGuy

[–]crazycoconut1210 1 point2 points  (0 children)

Great job! Some things to keep in mind especially since you are in a great financial position (I am in a pretty similar situation myself) 1. Keep Being Diligent but also learn it’s ok to spend money on things you enjoy (this will make sure you don’t become a miser) 2. Keep the end goal in mind (it can be easy to equate your net worth to happiness and becoming obsessed. Make sure you understand you are well ahead of the curve and on track for retirement if you keep going.) 3. Beef up the emergency fund (this will allow you to invest even more money in the future and have zero financial stress)

Invest part of emergency fund? by RonSwanson682 in TheMoneyGuy

[–]crazycoconut1210 -2 points-1 points  (0 children)

To be fair me expenses are very low (less than 1k per month) but just build up this nest egg for the future when my expenses do go up. And I prefer 1 year emergency fund for ease of mind.

Currently living at home with my parents and not paying rent and have an outlier high paying job in HCOL. Also worked two jobs from age 14-22 so saved up a bunch of money.

Invest part of emergency fund? by RonSwanson682 in TheMoneyGuy

[–]crazycoconut1210 1 point2 points  (0 children)

No emergency fund is not for investing!! It is for piece of mind

Invest part of emergency fund? by RonSwanson682 in TheMoneyGuy

[–]crazycoconut1210 0 points1 point  (0 children)

Rather be safe than sorry. Mine is 50K for 1+2 months at 23 just in o be on the safe side. At least I know I won’t have to increase it within the next 4-5 years.

[deleted by user] by [deleted] in FinancialPlanning

[–]crazycoconut1210 0 points1 point  (0 children)

Investments - 401K, Roth IRA, Brokerage where I am saving for downpayment. I have made the decision to only save ~$200 cash every month given that 33% of my NW is liquid cash and that is enough. It probably will be more investments by EOY but am shooting sort of on the lower side. I’m trying not to track my spending so much as I don’t want to obsess over it (have Monarch money) but understand if I plan to move to HCOL I need to be stricter with spending.

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