conversation: User (pb7090): "I am 20 yrs. old living in the U.S. I currently attend a 4 year state college. I just got a job working in a lab over the summer and would like some advice on budgeting and some of the options that I have for retirement plans.\n\nFirstly, the job pays $10/hr, 40hr/week. In the fall and spring I usually have money leftover from scholarships after my tuition is paid. Usually around $1800. Also I get help from my parents when that money runs out.\n\nAs far as budgeting goes I'd like to plan things out so that instead of running out of money towards the end of the semester, I can maybe more regularly get help from my parents but in a known amount. I got YNAB but I am confused as how to best do this.\n\nI currently have no emergency fund, no IRA (I would like one but am confused by my options) and no payments besides rent.\n\nAt my job, I am an OPS worker, and have the following options for retirement plans:\n\n* I am automatically enrolled in a 401(a) plan as an alternative to the benefits that regular employees get from the state. In lieu of paying social security tax, 7.5% of my pre-tax wages are put into an investment account. I believe that I can change where the funds go, but right now they are in a low-risk 1% interest fund. Once my employment ends I can transfer the funds to an IRA tax free I think.\n\n* 403(b) or Roth 403(b). I dont  really understand what these are, but there are a couple companies that I can get one with.\n\n* 457 plan. Once again I don't understand the benefits of this.\n\nI'd say that my goals are to:\n\n* budget my money, so that I don't have to worry about having enough for bills\n* put some of my money towards retirement, since I actually have earned income now\n* get started on an emergency fund?\n* hopefully have some money left over to spend on non essentials\n\n___\nSorry if this wall of text is too much, or if I left anything out. I'll be glad to clarify anything, thanks.\n    "
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