Hello All,
So, I'm 27 single with no kids and I've been out of college for 4 years now, but I haven't really been able to find a job that pays what I envisioned while in college (fairly common problem for people my age from what I've been told). Basically, I'd like to know where to start on becoming one of the Mustachians. I know that I need to cut down some expenses, like my cell phone and bar tabs. However, I have a good chunk of student loan debt that I've only started chipping away at. Here's the breakdown of the situation:
Monthly Pay after taxes- $1500 ($33K gross in 2012)
Monthly Expenses
Rent- $635(includes cable and all utilities)
Groceries- $180
Cell Phone- $85
Netflix- $8
Spotify- $10
Student Loans- $255 (Most of the loans are at 2.4%, I have two at 6.8% and the largest at 4.75%). Total student loan debt $20K
Credit Card- $75-100 (Current Balance $275/$300)
Although, on paper, it seems I should have money left over, I usually go paycheck to paycheck and don't get much money to roll over month to month.
Accounts
Cash- $325
Checking- $747
Savings- $1050 ($100 per paycheck) CapitalOne360 @ .75%
Fidelity 401K- $2780
According to Mint.com, my net worth is at -$15K. After I trim the fat off going out and cut my cell phone expense, what should be my next step? Any advice is greatly appreciated.