A couple questions
1. How much spending money do you give youself per week or month? A percentage of your income? A set dollar amount? None?
2. According to almost all financial advice, saving for retirement should be a priority in your 20's. The advice says start as early as you can and save, save, save. I am starting to wonder HOW this is possible with student loan debt, a potential wedding, down payment for a mortgage, and day-to-do living expenses in a time period of life when most people are making low(er) salaries straight out of college.
Yes, there is compound interest to consider, but what about practicality? Wouldn't it make more sense to get rid of any debt, buy a house, and then from age 30 on, put as much money as you can in savings? Especially when your income might be a little bit higher and there is breathing room?
Thoughts?
2. According to almost all financial advice, saving for retirement should be a priority in your 20's. The advice says start as early as you can and save, save, save. I am starting to wonder HOW this is possible with student loan debt, a potential wedding, down payment for a mortgage, and day-to-do living expenses in a time period of life when most people are making low(er) salaries straight out of college.
Yes, there is compound interest to consider, but what about practicality? Wouldn't it make more sense to get rid of any debt, buy a house, and then from age 30 on, put as much money as you can in savings? Especially when your income might be a little bit higher and there is breathing room?
Thoughts?