I don’t think the Fed mileage reimbursement rates are directly applicable like that. Whenever I’ve done the math on my used Mazda3 I end up with something like less than half the Fed rate. Maybe if I was buying a new $50k car every 5 years and getting $10k for a trade in it would work out that way, but I’ve always felt the reimbursement rates were set that way as a gift to employees who get mileage reimbursed or use it as a deduction. I’m saying that as someone who is regularly reimbursed for using my vehicle.

Take the job. A 45 minute commute isn’t bad, and you can always move closer when you move out if you don’t like it. Even if the commute isn’t for you and moving closer is impossible for some reason, it will at least set you up for a higher salary in future job searches.

Most people will be able to get used to a 45 minute commute. A few (myself included) will actually come to enjoy it.

>What am I missing?
>
>Rent is $2500 and monthly expenses are ~$2600.

Nothing, you answered it right there. People pay off that much debt quickly by continuing to live the "poor grad/medical/law student" lifestyle they're accustomed to for an extra few years, and plowing everything towards their debt. It's easy to pay off $300k+ in loans if you take home $15k/month and live in a $1,000/month apartment, drive a paid off car, and eat cheap home cooked meals.

>u can get a house costing much more then 100k with a downpayment and a home loan right?

Please don't take this the wrong way, I'm not coming down on you and mean no offense: If you don't fully understand the concept of a mortgage, it's highly unlikely that you're going to make a lot of money being the landlord of a single family rental. I would read the wiki linked on sub and follow the steps pertinent to you. This will help you preserve (and grow) your inheritance while you educate yourself about real estate investing.

A good rule of thumb is to keep your car payment below 10% of your take home income. $290/month comes out to about a $15k loan at your interest rates. Also keep in mind that a newer vehicle will be more expensive to insure.

I would spend a few months saving up until you have ~$5k or so to put down, then look at cars in the $15k neighborhood. Then you’ll have a car that you can easily afford, not just one that you can theoretically afford.

Having exactly $0 to your name immediately after graduating actually puts you significantly ahead of the curve.

>I feel so ashamed & guilty about this because I spent so much money the past 4 years on shits and giggles when I should’ve been saving.

It's hard to beat the dollars/fun ratio of money spent on shits and giggles during your college years. You have your whole life to earn all the money you want, but all the money in the world will never buy you a single new college memory. If you had fun in college and made it out with a degree and $8k, you're rich beyond measure.

Don’t do it. Forget about the lost opportunity cost of not gaining interest on that money, even if the landlord gave you a discount it’s still not worth it. It just increases the ways you can get screwed over: it’s a lot harder to get money back from someone than it is to just not pay them. If landlord does something to break your lease agreement, you could easily end up having to sue them to get your money back.

I don’t know where you live but chances are a lot of the add-ons she undoubtedly purchased like tire and wheel coverage, service plans, warranties etc can be cancelled/refunded (prorated to how long she’s owned the car of course). Look at the contracts for information on how to cancel them. And expect it to be kind of a PITA and for the people at the dealer to try to talk her out of it.

I don't see anything particularly unique about your circumstances, so the standard advice you'll find on here for young people just starting their careers will fit the bill.

One thing that I think is good advice for everyone is to stay physically fit and take care of your health. Being healthy has innumerable positive effects on your financial situation, especially as you get older.

If what you're doing now works, keep doing it. Pick a bill and auto-pay it with the credit card, and pay off the card every month.

There is a popular misconception that using your credit card heavily and paying it off every month will increase your credit score faster, but this is not the case. A $4/month Pandora subscription will work just as well. There is another misconception that carrying a small balance on the card month to month is good for your credit, but this is false as well. Pay it off in full every month.

At least you two have the sense to sit down and have these conversations early on in your engagement and fix them. You wouldn't believe how many people post on here blindsided by their spouses horrible financial situation after 10 years of marriage.

Opening an account and getting him banked will be huge. From his perspective it shouldn't change much: he can still pay with cash, it will just come from a bank card instead of a Venmo card. And the good news about having no record of his income is... there's no record of his income. As long as he pays what he owes from here on out and follows a tax professional's advise he should be fine. The IRS isn't going to start investigating how much people paid for their tattoos any time soon.

The biggest risk isn't a fire, it's someone hearing that he has a huge stash of cash in his house and robbing him. Are you familiar with Truman Capote's In Cold Blood?

You can play on his paranoia by pointing out (truthfully) that any nosy person who enters his house is liable to discover his stash and blab about it to God knows who. All it takes is one desperate person overhearing a rumor for him to have a really bad day.

>We are looking to buy a house after we get married in the spring but I know for him to be on the title he has to prove his income.

This isn't true. He can still be listed on the title, his income just won't count when you're applying for mortgages.

>How do we best go about creating a paper trail for him so he can file taxes and be able to finance purchases in the future?

Have him file his taxes for the previous two years, and start paying taxes from here on out. Google "how to file taxes without w2" to get started on that journey. Hiring a professional to help with this is probably a good idea.

>...but he doesn't even have a bank account.

How does he get cash from Venmo with no bank account? How does he pay for the phone he has the Venmo app without one? Does he use a credit card and mail them cash every month? Regardless, have him start an account today. Being unbanked is a huge hindrance, as he's now discovering.

>I need help. Im already in therapy but maybe I need a separate therapist for this.

I would suggest exactly this. Bring it up with your current therapist and see what they suggest: I suspect that your current spending habits are largely a symptom of your mental health issues.

In the mean time, sit down with a spreadsheet/notebook and take stock of your current spending habits (it sounds like you already started this) and use that as a jumping off point to come up with a monthly budget. Write it out (or put it in a spreadsheet) and try to stick with it. If nothing else it will provide you with some structure and will give you guidance on what exactly you have to reign in. Simple rules like "no more online shopping" and "fast food no more than twice a week" will be easier to follow than a general goal of "spending less money."

With the market down it makes more sense to invest more, not less: buy low sell high and all that. Having said that, it really depends on the nature of your debt. If you have $20k in credit card debt at 19% then by all means pause your contributions and pay it off faster. But don't stop saving for retirement for something like a 4% auto loan, unless you're having trouble making payments.

And regardless, keep contributing enough to get any match you may qualify for.