I'm a big wig now!
Ok guys, so on my birthday (nov 26) I passed my 3 month probation at work. I am now officially manager at La Senza.
This is my first job that pays well. Dont get me wrong, when I worked for Petcare I made $27K and that was amazing then. However, I"m now making MORE than that and this is the first time in my life where I am not pay check to pay check. I have so many things to catch up on with regards to my age and peers.
Obviously I dont want to blow my cash on stuff I dont need. I have a looooooooooong list of things I do need and read many financial books on what to do now with my extra loot. I just dont know where to begin!
First things first, I need to pay off my student loan. I can pay off one portion within 4 months, maybe 3. Then I have another $8000 for the other part.
I need to maximize my RRSP since I only started saving for that LAST YEAR. Apparently I have $23,843 I can contribute... uh, I have $1000 saved lol.
I need a car, and I would like to save for a house, however, Brent told me not to worry about that since he has enough money in stocks that he could just buy a house at anytime, hes just waiting for the housing market to cool off.
I would like to have a nice little nest egg in case Brent and I don't work out (heaven forbid, but lets be realistic here). My mom won't be able to retire cus she has NO savings whatsoever, so I know I'll be her primary caregiver when shes old and decrepid (ha).
Basically, I need to maximize what I do have and make it work. Stocks are out of the question right now, however, I MAY dable a bit more in mutual funds. My rrsps are in those and I'm thinking of taking a riskier one for shits and giggles.
Suggestions? Comments?
This is my first job that pays well. Dont get me wrong, when I worked for Petcare I made $27K and that was amazing then. However, I"m now making MORE than that and this is the first time in my life where I am not pay check to pay check. I have so many things to catch up on with regards to my age and peers.
Obviously I dont want to blow my cash on stuff I dont need. I have a looooooooooong list of things I do need and read many financial books on what to do now with my extra loot. I just dont know where to begin!
First things first, I need to pay off my student loan. I can pay off one portion within 4 months, maybe 3. Then I have another $8000 for the other part.
I need to maximize my RRSP since I only started saving for that LAST YEAR. Apparently I have $23,843 I can contribute... uh, I have $1000 saved lol.
I need a car, and I would like to save for a house, however, Brent told me not to worry about that since he has enough money in stocks that he could just buy a house at anytime, hes just waiting for the housing market to cool off.
I would like to have a nice little nest egg in case Brent and I don't work out (heaven forbid, but lets be realistic here). My mom won't be able to retire cus she has NO savings whatsoever, so I know I'll be her primary caregiver when shes old and decrepid (ha).
Basically, I need to maximize what I do have and make it work. Stocks are out of the question right now, however, I MAY dable a bit more in mutual funds. My rrsps are in those and I'm thinking of taking a riskier one for shits and giggles.
Suggestions? Comments?