$600 into a HYSA at 3.75%. I want to reach around $20k and then I want to start investing. I do have some money in my 401k, Roth and a brokerage but I stopped investing in order to put more towards my loans a few months ago. I’m saving as an emergency fund, even though it’s a bit higher than normal it eases my anxiety to have it on hand.

Yes, $3400 is the net pay after all taxes and benefits. I am currently on my parents dental and health so I’m fortunate to not pay that until I am 26.

All investment is risk based - that’s why the basis for comparison is the risk free rate of return (which is really conceptual but commonly US T-Notes and T-Bills are used). Since FDIC insured account are extremely low risk, they have lower return. If there is a competing yield 259 bps higher (or even 89 bps higher), it presumably comes with either greater risk or maybe is not a similar cash equivalent investment. Certainly one difference is that it could be denominated in a less desirable/useful currency than USD. It could also be that the non-US account they have it in lacks protection equivalent to FDIC insurance (so more risk).

Again though, the key factor is that not all yields are directly comparable. No financial institution gives away a free 289 bps with zero strings attached. If your non-us SA gets 5.89%, it is very likely that either currency differences or risk exposure or both are why. This is different from comparing the rate across competing US HYSA, which I believe is what was being questioned.

So to recap:

1. we all agree commenter is not using us savings accounts.
2. at least I am proposing that they are getting 5.89% on their money because their instruments are not equivalent to US savings accounts.
3. investing your year of rent money in assets materially riskier than HYSA is a choice one could make, but doesn’t really seem in the spirit of the original comments.

This concludes my TED talk.

<Wild applause from the gallery>

It's not a lease, right? Only you know the terms of your loan, but I would be surprised if it prevented you from selling the car and paying off the loan early.

Your other driver should own their own vehicle and have their insurance. If they cause damage while driving then their insurance covers the car.

> Savings: $600

What are you saving for?

Where?

In what form?

> Total: $3320

> My monthly income is $3400

Did you account for the taxes and benefits that are subtracted from your gross pay?

Happy cake day! Also would they pay full amount or would I be like a lender, I guess we would have to go through I financing company?

The only problem is the gap insurance will not cover another driver.

Fixed it

You may find these links helpful:

• Budgeting
• Tools and spreadsheets
• /r/mintuit and /r/ynab

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

Keep in mind that ally bank has a daily outbound transfer limit of 10k for new customers less 90 days. I believe this is for ACH only and can get around with wires.

This is why I’d tend to keep it. Especially if you have someone who you can trust keep it in their garage and get it out and running every now and then the car should be mint, with good value still when you return from basic training.

I’d put it out on Facebook marketplace. We’ve sold several that way. Car max and others will cost you at least 3-5k

I don’t know which deployment port you’ll be in, but all sorts of things can happen while it is in storage, especially if you’re on the gulf or east coast. Your insurance should drop because you won’t be driving it but it still needs to be covered for damage. Ask a mechanic what you have to do to store it properly if you can’t leave it with someone who can drive it occasionally.

Google fi was pretty good if you are a low data user.

Good points, thank you for your feedback, I have a hard time seeing the bright side something, I just didn't want to be tempted to waste my enlistment bonus, it just seems like insurance is always a rip off, I know I need it incase something happens but nothing ever happens.

On the flip side, seems like a good incentive for a landlord to offer a discount on prepaying rent. Maybe this is already a thing

Thank you that's a good point, my rate will be submarine computer electronics secf and the schools are in Groton Connecticut, kings bay Georgia, and Washington state, I'm leaving from from norfolk va.

Oh yes. Lucky a family member let's us use their Sam club card any time

[removed]

You won’t need a vehicle when you’re on a sub but you won’t be at sea for the entire 2 years. You do get a break. You can store the vehicle. Yes, it was a stupid purchase but, if you can’t afford to sell it now, your option is to store it and pay down the loan. The upside is once you get access to it again, it’ll be really low mileage for its age.

[removed]

Just wondering ! Lots of people had spouses cut their hair during the pandemic. But then they were on zoom - don’t know what the back looks like!! 😝

Can you share a BJs or Costco membership w another couple/family? I do! Cheaper for paper products and toiletries.

In apartments, hot water can be supplied centrally.

Google “Indiana transfer on death deed”

That’s what you’re looking for. There are companies that will sell you the forms to complete and file yourself, and sell her the forms to complete in the event of your passing.