I was wondering if someone here could offer some advice on how best manage your money in terms of savings and debts? I'm really into learning how best to handle my finances and I've been reading up on various 'finance for women' books, but sometimes it seems so overwhelming! I have a budget for my bills, groceries etc and I'm really trying to stick to it, but I'm unsure where to go next, past that.
A bit of background, I'm 23 and graduated from university in December, and I'm currently dancing. I have private student loans which go into repayment in June, which are lets just say, very high. I'd like to consolidate them to try and lower the monthly payments but the people who co-signed my loans then are not willing to co-sign the consolidation now.
I also have about $5000 in credit card debt (average APR), owe my parents $500 and I have a little list of things I will soon need to pay for, like going to the dentist, taking my cat to the vet, getting my car tuned-up etc. My car is fully paid off and my bills are relatively low so I'm looking towards paying other things off now. I don't know if I should be paying off my loans or credit cards first, or putting some money aside for savings, or putting it all towards the costs I have coming up so I can clear those (like the vet etc)
I have no savings or emergency fund which I know is a bad thing, but at the same time I feel bad having money sitting around while my debts build interest. I thought perhaps I could work towards paying off my credit cards first, and then have them as a potential 'emergency fund'.
I also want to save up $2K for an apartment deposit as I'm planning to move to NYC at the beginning of summer. My plan is to get a 'real job' now that I've graduated and put most of that money towards my loan, while dancing once or twice a week for general living money. But right now, I just don't know how I should be allocating my earnings.
Thank you SO much in advance, wise people!




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