Hello Mustachians!
I am a relatively new member of the Mustachian lifestyle, and I'm a bit lost as to where and how I should begin. There are so many spreadsheets and techniques and stuff that I get overwhelmed when I think about all that.
So, my stats.
I am 21 years old. I have $918.85 to my name right now. My monthly expenses are:
Pandora One: $5.26
Spotify Premium: $5.26
Rent: $325
Gas/Electricity: ~$35 (I have three roommates)
Internet: $10.50
Groceries: ~$100 (But I just turned 21 and I've been buying more alcohol... it's so expensive!)
Betterment: $100 (with other deposits if I have extra money)
Gas for car: ~$50 (Depending on how much highway driving I end up with)
TOTAL: ~$581
I have $400 invested into Betterment right now, which I did not include in the above number. My return so far in the one week I've had the money there is -$0.86, so that's been going swimmingly :P
I have student loans that amount to $14,558.79, but payments aren't due until January 18th, 2017, six months or so after I graduate. I have one more year of college left, and will end up with ~$25,000 or $30,000 in student loans by the time I am done.
I have an internship for the summer that pays $15.75/hr, working 40 or more hours per week. I have not done overtime as of yet, because by the end of each day I'm just ready to gtfo of here, but it is an option.
I use my car to commute to my internship, which is six miles from my house. I would have started biking, but I had knee surgery on June 5th and have not yet recovered to the point where I can ride a bike (it was a torn meniscus, if you're curious). I fully own my car, a 2000 Buick LeSabre. It gets about 17 mpg (I KNOW IT'S AWFUL UGH) in the city and about 24 mpg on the highway or freeway. It has ~175,000 miles on it.
Now tomorrow I'll be getting my first paycheck for this internship, and I'm not entirely sure what to do with it. I would invest in Vanguard but I don't have the minimum amount of $3000 to pay yet. Should I put as much as I can into Betterment? Right now I'm using Simple Bank for my checking account and I have a savings account at the credit union in my hometown. My paycheck deposits into my Simple account, from which it can be transferred to wherever I need it.
Also, I do not have the option of starting a 401(k) here. I had one at my last job, but my only options where to transfer it (which I couldn't do because I don't have one anymore) or cash it out, and I cashed it out (~$250).
SO. After that long-winded explanation of my finances... what do now? My thoughts are: emergency fund, then start saving for/paying off student loans. I also need to save for next year's tuition. Should I prioritize saving for that over paying off the loans I already have? Should I continue to invest in Betterment?
If there's anything at all that I left out, please let me know! Thanks!