Am I well off for my age?

Question

Ok so.. I started a new job at a subway where I work with kids that are my age and younger then me. I'm 20. when I talk to them I feel like I am a lot better off then they are. Am I? I work at a doctors office in the mornings and get about 20 to 25 hours a week and then subway another 20 hours a week, just for extra cash. I live with my boyfriend and we rent a house together. I pay for my health and car insurance, as well as my car and phone bills. I also cosigned a credit card with my boyfriend to help build my credit. I have weekend off and everyother weekend we take care of his 2 year old daughter. I have some college but am currently changing to an online classes school. Am I doing well for my age, or am I in over my head?

Answer 1

Everyone lives different lives. You should try to focus on being the best you can be instead of being better than others.

My cousin had a daughter when she was 18 years old. she is 23 now, in med school and still together with the father of her daughter. she's always taken great care of her daughter, and when she isn't studying or taking care of her daughter, she's volunteering.

Me, I'm a 22 year old virgin by choice and I've been dating the same guy to whom I'm hopelessly in love with for almost 2 years and he's a virgin too. We're also both vegetarian. ;) I go to school, and I would have probably been done by now if I didn't take so much time off to travel abroad. I've been to Brazil, Peru, Jamaica, Sweden, Denmark & the airport in Paris (it's hugeee) I live with my parents in the USA and my boyfriend lives in Sweden by himself. I could easily move to Sweden & live with him, but it's better if I finish school first.

My aunt is 32 years old and recently just got married. She went to private school all her life & then ended up going to a prestigious university. After graduating, she joined the military & is a captain in the marines. She has been to Kuwait, Korea, Iraq, and egypt.

I have friends my own age who own their own houses.
Are they better off than me? Who cares. We're not all given the same oppertunities in life and I'm content with my life. Though I think people should always look within and work on improving themselves

btw, why would you need your boyfriend to cosign a credit card for you? If you have a job, you can get a credit card by yourself & "build up your credit" by paying your debts.

Answer 2

I'm in almost the same place. I live w/my g/f of 3 years, I work at a high-end retail store 40 hours, and a restaurant 10 hours per week. I'm 29 w/some college, I plan on taking some classes when my tuition reimbursment activates. I'm also saving up for some dj equipment so I can do some parties on the side. I feel ok, but sometimes I just feel like all I do is work and pay bills, thats all.

Answer 3

Your in over your head playing house with your live in boyfriend.

Never ever cosign anything for anybody. Period. Don't you read your Bible? Proverbs talks about this. You know, the book of wisdom.

I applaud you for getting car insurance and health insurance. That is responsible. But what are you doing with the rest of the money??? Are you saving it? Stashing it away in some kind of investment? I hope so. You start now while you're 20, then you'll be able to retire by the time you're in your 40s.

Answer 4

What you are doing and where you are at in your life is admirable and you should certainly be commended on your drive and dedication.

However, it can be a slippery slope when you try to compare yourself with your peers. The big question is are YOU comfortable with where you are at or do YOU feel that you are over your head?

Consider how YOU feel about your accomplishments without comparison to others and then you have your real answer.

As for being financially well off... it all depends on if you are in debt or not and by how much. Again, do not compare yourself to others when it comes to finances. Because you will go in debt trying to maintain the same lifestyle as those who already are in debt.

All the best yo you.

Answer 5

You totally forgot to mention your actual debt to income ratio and your savings rate contributions .

Also , that cosign BF is one of the dumber things that happens .
And FICO started Not tracking additional cardholders in Sept , they figured out too many people were using it to get around other peoples bad FICOs .
Most of those GFs end up in bankruptcy court .
Could be worse , you could send fees to some guy who emailed you about winning the lottery .

But the work hours , school and maintaining insurance are ALL good signs .
Correct that booboo with the BF ( turns people into parasites usually) , and life will be really good .


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Answer 6

things look good for you, except:
1--undo the co-sign on a credit card. never a good idea. not with a b/f, not with a relative, not with anybody. you could get burned really bad
2--the deal with the on-line school. is the "convenience" really worth the extra money you will be paying. and is it a "real" school. be very careful before you commit to that decision.
everything else seems to indicate you have your head where it is supposed to be, unlike a lot of other people your age

Answer 7

Depends.

Do you have any debt? Outstanding Balances?
How much of your income is going into savings?

Considering you're 20 and how responsible you seem. You have a bright future. Just be careful with those credit cards... they're not "free money".

Answer 8

Not over your head at all but I would not co-sign a credit card with bf. Reason: Always, always, always get yourself established on your own. No one can tell the future of a relationship but you can be certain that you will be standing on your own feet if push comes to shove on finances.

Answer 9

It relies upon.... The $one thousand toddler tax credit stops the year that they turn 17 yet you will declare them as dependents till they're 19 if no longer finished-time pupils or 24 in the event that they're. Technically, if their earnings replaced into low adequate and that they nevertheless stay with you, you will desire to declare them continuously.

Answer 10

The initial question sounded like you were going to brag about how much money you have, lol. But really you sound like you are doing great and have a good idea what responsibilty is. Good for you!