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czarnar t1_j6llt7v wrote

Reply to comment by NannerPanda in I want to start investing but I know very little (and honestly, I have very little). by NannerPanda

You're not lost, you're here! You made it. Step 1, complete!

The next step, step 2, is a bigger step. Education. We are all learning, because all of our lives and situations are all different and always changing. The terms you are seeing here and in the link above, look them up and start to learn how the different elements map to your situation. A big thing you'll hear is making a budget and outlining your goals. Both will help you here too.

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NannerPanda OP t1_j6loje1 wrote

I appreciate this thank you. I've been diving into the wiki that was linked earlier. Mainly looking at Roth IRA and I-Bonds and thinking about how much money I have. I already keep track of my expenses on a spreadsheet so I know if I'm wasting money, if I have enough room to spend money, etc. Not exactly budgeting but it's something.

Thinking about...
- Savings for expenses under a year (emergency fund, or if something comes up)
- I-bonds for expenses past a year (down payments on a new living situation, battery for my car, potential trips, etc.)
- IRA for retirement

Man, money things are so complicated. ;_;

EDIT: Thinking of brokerage accounts with low cost index funds too but the tax stuff scares me. I don't want to invest and then suddenly have to pay a whole bunch of taxes ;_;

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czarnar t1_j6mt0k2 wrote

If I were in your shoes, I would start with a more detailed budget then and I would absolutely include the student debt into the budget. Even though you aren't paying it atm pretend you are and really get to the bottom of how much money you have in excess each month.

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