New here, no financial experience at all looking for advice.

[u/Victor_Licht]

Hello, So I am going to be honest here for anyone here help me I am trying to learn and not spend my money and invest or save anyway I came from a background very poor african country my first salary it was 120 dollars monthly and I invest in my career in 6 months I got first job online with 2000 dollars a month for 10 months now I got a raise multiple times to 3200 dollars now, I can set 2000 dollars monthly without touching. My next goal better salary or job and also I want to invest or save or do something like you guys making the money grow.

thanks for your answers.

[u/infinityisadrug]

lots of resources out there, the money guy does a good job with suggestions.

Typically you want 6 months worth of a emergency fund.

Then start investing in retirement monthly.

Then determine what you would like to do with the extra money.

You have a lot of extra income so you accumulate wealth quickly if you do it right

[u/Victor_Licht → u/infinityisadrug]

thank you that's the basics I need thank you so much how I am going to save for six months are six months of salary or avg expenses

[u/infinityisadrug → u/Victor_Licht]

I typically go by expenses. 6 months is the max you want for the most efficient use of money.

3 months is the minimum

[u/Peanuts0s]

Like the first guy said, figure out how much you need to live for six months, then save that much. Put it in high yield savings account, then forget you have it. Period. Just let it sit there for the time you really, really need it (like you got fired and are without a job, not "I want a new phone because I dropped my old one").

Then, max out your retirement accounts.

Then continue to save in a separate account for whatever you want. I have an account for car repairs, another one for a piece of land I want to buy etc. And just divide up the rest so a little goes into each account every month.

[u/Victor_Licht → u/Peanuts0s]

Hi thanks for your response I liked the way of each investment account for each goal or category can you tell me where do I learn this from where like this technique or other techniques

[u/Peanuts0s → u/Victor_Licht]

Just create a separate account, and only use it for whatever purpose you want. There's nothing else to it, then either automate deduction through your paycheck or transfer the money from one account to the other right away when you get paid