I've recently started a new job that's gonna be paying me way more than enough to maintain my standard of living and pay off my debt. I've never been in this situation before /biz/. What should I be doing with the extra income? I'm as ignorant as they come so far as money management is concerned because I've never really had any. Honest advice is welcome. Troll advice can't really be stopped so I guess that's welcome too.
Pay off all debts over 5% instantly. Don't be a retard and buy a new car. Invest 80% of extra income in stocks (dump money in VTI every paycheck), use 20% of extra income to improve quality of life by fitness, education, and healthy food.
>>1434767
I would argue that you should pay that money beforehand to atleast make sure you are healthy enough to proceed in life.
High interest debt
Low interest debt
Save up 6 months of living expenses
Start dumping into investments (ETFs, mutual funds, etc.)
Don't increase your consumption commensurate with your pay increase.
Buy hookers, it's worth it to have pussy in the pocket and not have to rely on shitty western women for your slippery wet needs. This might seem troll but in all honesty, find a way to sate your urges without having to suck up to a whore who will fuck you over and leave you for someone better in the end.
The other advice is good too, but learn to free yourself from the demands of women. It will save you much more $ than you realize in the long run
I'm currently living in a two bedroom apartment with only one vehicle for a household of 3 plus my infant son, so I do plan on getting another car and a bigger place. I'm estimating that at most that will increase my expenses by roughly 75%. However, this will be a 250% increase in income on the conservative side. I feel like this is a standard quality of life issue that my family deserves to have taken care of. That's not too shortsighted considering the current situation is it?
Cocaine.