Financial Decisions · Rentals To Riches Free

Financial Decisions

I wanted to come on here and ask something a little different and hope others can benefit from it too.

A big part of being in here is to build wealth through real estate. Although I believe before that happens we must have foundations set in place. For example, I would think an emergency fund is critical (3-6 months of living expenses), and of-course a good chunk of money to put forward towards our investing goals.

Personally, I have a set emergency fund, and an investment fund that Is constantly growing. I’m at a stage where my main focus is to grow my investment fund as much as possible, in fact 35%+ of my income goes straight to it. I’m saving around $2,600+ a month. Although, a bump in the road has come up for me. I’m in need of a new vehicle and am not sure where to pick money out of. Do I take from my Emergency fund? Do I take from my Investment fund? Or do I take from neither, finance a vehicle and pay it off as quickly as possible? (keep in mind I intend to spend no more than 10K)

I’m 24 years old and grew up in an environment where finances were never even talked about. I’m self aware of where I’m at and hope to get some advice from some of yall that are further ahead in life. Thanks.

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