I always feel behind
I need some advice from those older and wiser than me. I am 21 male. I have been working in corporate for 3 years. I immediately opened a Roth 401K with my employer my first few days into the job. Here is my situation
Salary: $58k
Roth 401k: $24,819
Total Physical Assets: $8-10k
Emergency Fund: $0
Savings: $1k
Debt: $2k (credit cards: cc 1- 26.49% APR - 1,800 owed | cc 2 - 28.24% APR - $203.57 [Credit Score: 659])
Every month I save a good chunk but break even or end up dipping into savings because of miscellaneous events that happen. I am always thinking about my finances. I believe I am underpaid (Entry Level Program Manager in Tech) and I am applying to roles but with this market I am landing 0 interviews. Regardless this is just background to my situation.
What I am looking for from this group is should I cut my 401k contribution down from 8% to 6% (my company partially matches 50% up to 6%) In order to increase my Emergency Savings and eliminate debt