<prompt> Human: I went into my job today and was told that they are raising me from 12 an hour to 15 an hour, adding an additional 6240 dollars to my income. I dont know what to do with this money. I am 20, living at home with low rent help with bills 140 a month for insurance 45 a month for phone and 120 a month for gas to go to school and work. I also throw 100 into my savings account thanks to this subreddit a week as well, leaving 200 or so a week for me to use as i need to. With this new 120 a week, should I just commit it to savings, or should I throw in a new account and try to invest it? I Also want a newer car instead of the 15 year old piece of junk on its last leg that I currently have, but I also figure I can start saving for a home as well.. I feel as though I have a lot of options with increased income, and would like some additional advice on how to spend it wisely.Car: I bought the car I have 2 years ago, a 15 year old model at the time, for 4k. I have since put approximately 2500-3000 into repairs on the car including having the transmission rebuilt. Im really considering making it someone elses problem child.  <response>: Keep in mind that some of that income will go to various types of taxes; roughly 450 to FICA taxes, 900 to federal income taxes, perhaps some to state income taxes. So, probably more like 90week extra, one would think. Net net, the 6.2K that rounded to 7k in the title will result in less than 5k. Most twenty-year-olds are some years away from saving for a house, so it would be better to save up for a transportation upgrade. Just dont overdo it. You want to find something that costs less than 10K on your income. 