Hello all.
I'm writing today as a male 22-year old college graduate (BBA, Finance), currently employed at a Fortune 500 company (PTL I landed a job).
I have some questions about my financial picture, and where I should go from where I am.
Background:
~$23K in physical/liquid assets (includes $5k "emergency fund" @ Ally earning .90%, $2k in 401k where I'm contributing as much as I can right now)
~$22K in student loans with an average APR of 5.85% (required pmts of $250/mo, but I am trying to attack it as aggressively as I think I can by paying $300/mo instead)
~Current salary of $45K
~Monthly expenses are as follows: Rent - $1200/mo, Insurance - $140/mo, Bills (total - including credit card of gas/groceries) ~ $600/mo, Loan repay - $300/mo. Total = ~$2100-2200/mo
~NO CREDIT CARD DEBT...I don't carry balances (use it only for groceries and gas and pay it off each month when due)
~serious girlfriend, but not getting married for a while (but, saving for a ring...which I would love to not have to take out a loan for at the time I buy it)
I want to get invested in a small account just to get it rolling for the future (maybe a Betterment ETF?), but I know I need to get rid of the student loans ASAP. Should I take some out of my Ally account and pay off a couple of the individual loans/take out $1k and open the investment acct then pay down loans? I managed to save that amount I have since I started working last July, so I'm kind of impressed with myself, but also know I could do better.
Help! Any suggestions are welcome.
Thanks in advance!