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Re: Advice for 1st year teacher
$1000 is not even close for an emergency fund in 2019. You really should try to work up to $2000. Everything else is pretty much the same. If you are like me and have no wife and kids and are retired, I'd say put the 15% of the college fund towards savings. Also, a side note, Ramsey is great but there are other financial folks out there with books that have a slightly different method. They too, are millionaires and started with nothing. Seriously, I would also research a few other folks and compare notes. It's like everybody thinking the iPhone is the only phone to get, look at no others.
I don't know if this is a serious post, but I just started this plan and keep thinking that I wish I could have done this when I started teaching (in year 6). Follow the baby steps and it will help your future.
Get on the Dave Ramsey plan. As he says "Live like no one else, so you can live like no one else."
Baby Step 1 – $1,000 to start an Emergency Fund
Baby Step 2 – Pay off all debt using the Debt Snowball
Baby Step 3 – 3 to 6 months of expenses in savings
Baby Step 3B - Save for a House
Baby Step 4 – Invest 15% of household income into Roth IRAs and pre-tax retirement
Baby Step 5 – College funding for children
Baby Step 6 – Pay off home early
Baby Step 7 – Build wealth and give!
Get on a written budget, live on as little as you can and make every dollar you earn work for you.