Financial Reality Check and Emergency Action Plan

1. FINANCIAL REALITY CHECK:

Your current financial habits are unsustainable, with expenses that surpass your savings rate significantly. The $35,000 in student loans and $6,000 credit card debt act as a heavy anchor on your financial progress. You're spending nearly 50% of your income on bills alone, leaving minimal room for building savings necessary for achieving home ownership goals.

2. SURVIVAL METRICS:

- True Hourly Wage: Approximately $20 after taxes

- Survival Runway: Less than one month with current savings

- Debt-to-Income Ratio: 68%

- Freedom Ratio: Currently negligible

3. MONEY LEAKS:

Subscriptions you seldom use, impulse buys that add up weekly, and lifestyle inflation where spending grows with income increments are major leaks.

4. EMERGENCY ACTION PLAN:

- Cut non-essential subscriptions immediately.

- Limit dining out to once a month to save an additional $200.

- Consider a temporary side hustle like freelancing to boost monthly income by at least $500.

- Prioritize paying off high-interest credit card debt first while making minimum payments on student loans.

5. 30-DAY RECOVERY ROADMAP:

- Week 1: Review all expenditures; cancel unnecessary subscriptions/services.

- Week 2: Begin the side hustle; channel all extra earnings into savings or debt repayment.

- Week 3: Re-evaluate groceries and utilities for potential savings through coupons or deals.

- Week 4: Create a budget plan focusing heavily on need-based spending.

6. HARSH TRUTHS & BRIGHT FUTURES:

If you continue current spending patterns, financial security will remain elusive. However, committing to disciplined saving and cutting back can place you on track for buying property within several years, transforming potential struggles into sustainable success.