Financial Challenges Support Group
This community is for people who are struggling to meet financial obligations of any kind. Financial challenges include everything from the day-to-day challenges of making ends meet to managing credit card debt to bankruptcy. Get support from others who are going through similar obstacles on the road back to financial stability.
I'm a business professional with a good administrative job with room for advancement. I live with my parents and am determined to pay down my credit card debt before taking on a mortgage. Right now I commute 1 1/2 hours each way to work via bus and subway. The commute is horribly taxing, but anything closer to home would result in a huge decline in pay. I was just wondering if anyone has advice on how to jumpstart my financial freedom so I can move closer to work sooner than later.
2. If your company offers 401K, take advantage...this will be looked at as an asset when you purchase a home.
3. Set aside a certain amount of money every month that you promise you will not touch. Put it in SAvings then when you have enough, transfer to a money market or cd account.
4. Do not ever be late on any of your payments.
5. Buy only necessities. Hold off on vices.
Remember that when you buy a house, you do not think only of downpayment. You also think of incidentals. Goodluck and you are lucky that you have parents that are letting you stay at their house. Hope you are living there for free so you can move quickly. :)
It's a financial co.
good luck