Hello. I am a 27 year old with no kids and am single. I average $44k at my full time job (work in a field not impacted by COVID). I am planning on staying at my current job until July 2021 because at that point I will have 5 years seniority and “lock in” keeping my retirement and my company’s contributions as well (and as long as I keep the $ in the retirement account untouched I will be able to start withdrawing from it at age 50).
I currently have $11k in the bank ready to use when’re if needed. I have 2 credit cards both with some debts on them (credit card 1 = $8k owed; 0% interest will expire October 2020) and (credit card 2 = $4k owed; 0% interest will expire April 2021). I want to pay off these debts before the 0% interest expires. I also want to always keep at least $5k in the bank for an emergency fund (i.e. get in an accident and can’t work for 2 months).
For perspective I have a take home pay of $2,300 a month on average. I live with a friend right now and pay very cheap rent ($200 a month).
For more perspective my car is paid off and in good condition. I don’t really do anything that costs a lot of $. Can you people give me a breakdown of what I should do to be out of debt in a way so I never pay credit card interest and always keep at least $5k in the bank? Before I forget, I also need to have $12k in the bank by July 2021 do I can move across the US for another job?
