Running out of savings Husband and I used to have about 20k in savings. Fast forward to two kids later, my husband being out of work and unpaid for several months after unexpected open heart surgery, our savings is pretty much at $0. We own a home with a good interest rate and our mortgage is $1400/month. One car payment (other two are paid off) that is $470/month. An…

77F Being Patient, Spent Savings Looking for advice: My (77 yrs) mother retired late 2023. In early 2024 she employed a (QLD) financial planner to manage setting up her pension with Centrelink. She believes that there was a lot of generic messaging from Centrelink saying that they are understaffed, urgent cases are being looked at first, etc, etc – and so she didn’t follow up w…

$30,000 in savings with no direction. As the title states, I (24M) have about $30,000 saved. Sounds okay, but I’m stuck in a loop of working a dead end job for a year or two and then moving to a new dead end job. I live with my parents and probably could have more saved but went through a crazy gambling phase probably because I had no goals or ambitions. Lost about $25,000 and manag…

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Separate emergency savings Never understood this until I walked out and found my truck missing. $300 tow ticket coming out of my savings? Brutal. Week-ruiner. $300 out of emergency savings account? Feels like paying with Monopoly money. Couldn’t be less upset. So glad I set it up and would recommend to anyone who hasn’t yet. submitted by /u/chadwickbradford

40 year old, what should I be doing with my savings I have 30k in a 401k that i’m contributing to as well as 25k in precious metals, but also have 75k sitting in a brokerage account that’s invested in t-bills earning around 4.25%. I’m also saving about 20k per year so my plan is to grow this 75k to 200k in about 5 years, and use the money to purchase a condo (there are decent condos in my area fo…

Savings for travel? Like many of you, I really enjoy traveling especially abroad. Just came back from traveling to several SE Asian countries, heading to Costa Rica next month and have a safari booked in Kenya and Tanzania in the fall. I have a good paying job and always pay my travel expenses in advance and when my credit cards are due, and I still use miles and p…

Retirement savings tracker & projector I’d been trying to find a suitable savings calculator/projection spreadsheet, and got tired of finding *mostly* what I wanted, so I decided to take a stab at making my own over the weekend. It should be good for people to utilize right out of the box, but I’d also love to get feedback on ideas for things I should change or add (or remove). Here’…

Is it smarter to pay off all my debt and get left with no savings? Or should I pay off majority of my debt and put 1K in savings? I am getting a huge refund this year. That covers all of my debt exactly. I have two credit cards with a high balance. I also have a auto loan still open. That gap insurance never covered that I’m planning to pay off. (It was denied before yall ask) I have been having this credit card debt for years already, and I would like to get it over with…

I want to invest my savings! Where ?! I have been putting about 250-400 into savings every month (I work in sales and very lucky I am able to do this) but my money is just sitting there and not doing anything and I want it to grow. As a first time investor, what should I be researching into and where should my money go that will be low risk? submitted by /u/Prestigious_King_…

Starting retirement savings as a 40-year-old. Hi everyone. I’m hoping “Better Late Than Never” is a truism here, too. I’m looking to start setting up an IRA and get some other retirement instruments started. I’ve never had a traditional job, have no 401k and haven’t had regular salary to invest a portion of. Instead, I’ve had a bank account. Ha. Not ideal, I know. I’m considering starting…

Is it appropriate to use my savings for a vacation as a 17 y/o? I recently started working, about two months ago, and I have been saving 50% of all money I get and putting the rest in my spending account which has about $600. I want to go on vacation this summer, which will cost me about 2k. Right now I have $700 in my savings and I was just wondering if that’s an appropriate use? Honestly any advice for how…

Student Loans are $57K and have 30K in savings Should I put all of those savings and pay off that chunk of my loans? I’m going back and forth on if I should just pull the trigger. I acquired 30K in savings during Covid and it feels like free money. Would it make sense to just throw it all at my loans? submitted by /u/fake_cowboy88

Savings vs Student Loans For some context, I recently graduated from college with a physics degree and have about $28k in student debt. About a month ago I got an entry level lab technician job at an Optics Lab that pays about $19/hr with the promise of easy raises because of my education, and I take home just over $600 a week. I’ve got about $14k in the bank right now …

How are we doing on our savings for retirement? Just need some reassurance that I’m doing okay with our savings or if I need to play some more catch up. Me (37M) and my wife (34F) make about 175k a year, with approximate 4% raises a year. Currently we have approximately 200k in retirement savings, approximately 13k in a 529 for our 10 MO, and about 13k in straight savings. Unfortunately we a…

What am I supposed to do with my savings? I work in a restaurant and make between 60-70k a year. I grew up pretty poor and live well within my means— car paid off, no credit card debt, and less than 10k left in student loans (opting not to pay this off immediately as my state has a tax incentive for monthly payments). Over the past few years I’ve managed to save 60k in a HYSA, ideally f…

Should I use savings to lower debt? Feeling pretty stupid over the years. I’ve usually been great with money ever since I started working. I got a credit card when I was 18 and always paid the balance down. Then the line just kept increasing, I got carried away, and now I’m with debt. It’s about $9,700. I put more than the minimum payment down every month but I feel like it doesn’…

Savings vs unsecured debt pay off Quick opinion question. I’ve paid a credit card down from $3000 to $728. I have $4500 in savings right now (not including retirement and c money market funds). Should I just pay the damn thing off? I’ve been posting $400 per month to get rid of it… And I like having ‘just in case’ money in savings. But the interest accruing drives me nuts. Sug…

Savings vs investing ratio Hi! I’m 26 and have a good amount of saving + investments. I have around 50% invested and 50% in savings. The investments consist of my 401k, Roth IRA, HSA, and personal investment accounts. The savings consist mostly of a high yield saving account and my checking account. My saving recently got to around 100k, and I’m wondering if I should star…

I just turned 25, I have no savings. Tell me what to do. I have a checking account with $700 in it. Credit limit of $7,100 of which I’m at around $4,000. I’m opening a savings account tomorrow and putting $100 in there. I’m working to get my credit card debt down, but I’m still in school and can only work part-time (roughly 35 hours per week but this is about to go down to 25-30). Monthly expenses ar…