Whoops I misread sorry

The power of compound interest, how it can work for you and against you (rule of 72 for bonus points)

I know this advice is frustrating, but getting a full time higher paying job is really the only good outcome for you, for this bill and in general. Can you talk to people who have the jobs you want and ask how they got hired? I like that you called the manager to follow up on applications. That didn’t work that time but maybe it’ll work eventually. Sorry it’s been so hard so far.

depends on how reliant you are on the dividends, if its the only source of income then probably not ideal for the reasons you mentioned. If you're well diversified (outside of securities) and have a12 month emergency fund, then I don't see an issue with being 100% in a broad index fund, but to that end- it applies to such a small amount of people that those in the position to hear it, probably don't need it.

Why don't you just send/transfer them money when they ask, instead of sharing your bank account with them?

a 200k mortgage on a town home is nearly 300 dollars cheaper than my 400k house with mortgage of 3.5%.

i m though going to buy the town home to rent out for 2k.

the rates are the highest in my adult life time as i have ever seen. i m 37 years old and have owned various properties since 2009.

and you think people are just choosing to be jobless rather than apply to fast food?

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Thanks! I get 4.5 months so will take most of that.

Right now we are both putting 11% of income to retirement and an additional $1700/month into savings

June 30th is the end of the lease. We have been putting an additional $1700/month into saving to start mimicking the cost/increasing the down payment.

I think considering the employment climate, it's easier to assume the person is just not trying or is being rejected for other reasons than the idea that everything is fully staffed up. I also live in a college town, and the fast food restaurant across the street has been hiring for 2+ years now, and I have not seen a single food service fully staffed since pre-pandemic. Signs everywhere no matter where you go.

Thanks guys- This helps. I just completed the application

Stay with parents and it's not easy to date. Don't stay with parents and you have no money and you're not good marriage material.

Would I recommend you move back in with your parents? Yes. And I did. Yes, dating was a little more difficult. However, our first day of marriage, we lived in a home that we bought together. I would not have been able to do that if I still had debt from paying $2000 a month rent.

Yes. All three of our kids had bank accounts that I had access to online. When they turned 18, I removed that access. I told them I did so. It was up to them to handle their finances. If they needed any help, I'm always available.

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

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Yep same, I just did 250 to see if it goes smoothZ appreciate it!

Just open a new account and stop depositing money into the one shared with your parents.

Closing it is the best option because if you just stop depositing into it, there is the chance they will overdraw it, which would impact you since your name is on it.

If they need money strictly offer it through venmo or cash app so that you have to approve it

It will really come down to your budget. I'd agree with your estimate on a mortgage payment of up to $3300, if you're pushing $450k with the purchase price. You said you have a monthly net income of $7500. So after making a $3300 mortgage payment, you'd have $4200 left. So the question is.....can you cover all your expenses and meet your savings goals with the remaining $4200/month? Without other significant debt, or general spending issues, it seems like you should be able to afford that.

Recommend also closing the shared account. If mom overdrafts your account, you’re responsible for it. You can always Zelle the $ directly to her checking account if she needs help.

Should be good, but I hear you: about a month ago I opened an account and made a few smaller deposits just to be sure, and I had no problems at all, moving from both directions. Happy interest-making!

Yea really I wouldn't have to do this if I graduated in 4 years and saved more while I was in school. I can't make up for the time I wasted.

As far I as know, no. They make it easy to deposit and withdraw from what I’ve seen

Primarily an online bank like Ally, CapOne, Schwab. If needed, perhaps a local CU to deal with occasional cash.

Just stear clear of any "retail banks" like Wells Fargo, Chase, Citi, BoA. These places are full of BS fees, poor customer service, and poor products. They spend a lot on marketing and branch locations so they get a lot of customers, but they really offer no positives as far as banking experience.

If a bank has a "low balance" fee on their checking account that's a pretty clear sign you should avoid them.