Share your budget and plan, get some advice.
> 22 years old
> 36k college debt
> 35k a year job
> 5k in savings
> Here we go:
- 610 Rent
- 500 Paying back student loans (quickly)
- 300 Food
- 100 Utilities (power + water/gas)
- 30 Internet
- 100 Gas (car)
- 150 Eating out/fun/dates
> Total Expenditure: - 1790
> Total Income: - 2300
> Surplus: $510
Plan:
> 1) Get my savings to 10k
> 2) Throw everything at student loans
That's 1k/mo
> 3) Go back to school for my PhD when debt is more manageable and I'm a more attractive candidate (by staying active in a research group)
> 4) Live on shitty stipend with free tuition
> 5) Get 150k a year job
Or
> Get a better job and do all that last part
I apply to new positions relevant to my field every day
>>1318190
>20
>No debt (yet)
> $12/hr
>15k savings
Currently live at home, so only expenditures are food and entertainment, which are <$150 out of my monthly income.
My plan has been taking $200 out of every paycheck and making an automatic transfer to my savings. Whatever money left over in my checkings is what I spend. Every time make checkings hits 1000 I take 500 out of that and put it in my savings. That's my plan so far.
>>1318201
But what's your overall goal? What objectives are you trying to meet to achieve this goal?
You aren't getting any younger mate
>24 years old
>14k student debt left @ ~3.6%
>13k car debt @ 4%
>44k a year job
>5k emergency fund
>4k 401k fund (5% of income to 401k with 4% match)
- 650 Rent (hopefully going to be 350 next month since I'm moving out)
- 165 Minimum payment on student loans while I build up my emergency fund
- 215 car loan payment
- 100 groceries
- 20 phone bill
- 40 internet bill
- 50 eating out
- 20 misc spending
> Total budget: 1260
> Total income: 2590
> Savings: 1330
Plan:
> 1) build a 6 month emergency fund (need $7560), so save for 2 more months to hit that goal
> 2) Dump the rest of everything into loans from here on out
> 3) Open an IRA and start maxing that out
> 4) Switch jobs and get a better 401k plan
>Age 28
>HEC Debt $-29,880.00
>AU
>Shares $21,357.00
>Superanation$52,050.00
>Income $68,050.00
>Salary Sacrificing $13,000
Work in Goverment Job
>Super is %12.75 when I add %5
>so total P/A to super befor tax is $25,000
Because Salary Sacrificing gross is reduced by 13k so
>Taxable Gross Income
>$55,050.00
>Living expences
Weekly Costs Cost Description
$40.00 Fuel
$75.00 Food
$0.00 Gas
$0.00 Power
$12.50 mobile Phone plan
$11.25 Internet
$17.00 Car + Content Insurance
$16.00 Car Rego
$0.00 Bank account Fees/Tax for business
$84.25 Dental repairs
$50.00 Car Maintenance
$46.00 Rent
$40.00 Holidays
$40.00 Gym
$20.00 Job Training/Certifacations
$200.00 savings for Shares
$0.00 savings from HECs
$59.35 savings for Car
$113.00 savings for Cash
$62.45 super annualation contribution AUTO payment %5
$168.16 super annualation investment AUTO payment %12.75
$257.00 Salary Sacrifice into Super + %10 savings
-$38.55 tax on Salary Sacrifice into Super + %10 savings
-$34.59 tax on super %17.75
-$4.19 Income Protection Premiums
-$10.20 Death And Disability Premiums
$170.40 Tax to pay on gross amount
$0.00 Medicare levy
$0.00 HELP Hex loan
Totals
>living costs PA $21,112.00
>Savings/shares PA $19,362.00
>Salary Sacrifice/Super PA $25,000.00
>Tax PA $10,362.00
>>1318303
this is the results if I add to shares outside supper each year. an it all compounds.
>>1318253
> Car loan
Huge mistake
> $100 a month for groceries
Nigga what? That's $3 per day. Do you not buy toilet paper? Soap? FOOD? Fuck man. Not possible.
>>1318338
>Huge mistake
Yep, I ended up giving it to my family when I moved, and live with no car and walk everywhere. I learned the hard way not to finance a car ever again.
>Nigga what? That's $3 per day. Do you not buy toilet paper? Soap? FOOD? Fuck man. Not possible.
I try to time my shits at work, so I tend to buy a large pack of toilet paper once every 4 months.
My food costs are low because I make most meals at home and buy in bulk.
this is a couple weeks out of date, gotta figure an easier way to manage this. recently started a vanguard account and put 6k in it, plus i paid off 1k on my student loan since then.
only 8k left on the loan, wooo
>>1318253
shit, i just realized you and i are fairly similar financially. sup bro
>>1318190
Can I just say that I think it sucks big donkey dick that you guys get so royally fucked by student loans. Here in NZ they're interest free, so I literally give 0 fucks about paying it back. In fact I'm borrowing as much as I can just to invest it. I'm making money off my 'debt'. I really feel for you US folks.
> 25
> no debt
> 27k in assets
> entrepreneur with highly irregular income
Monthly expenses:
> rent 250, includes water and internet
> food 100
> electricity, phone 10
Plan
> every single cent of income above expenses is invested
> already have emergency buffers set up
> goal is to retire at 30
> I need 5k a year in dividends to retire
> current portfolio brings about 1k a year in divs
With the income varying a lot, I can't say I have a saving rate of N %. Still, I'm following in ERE/MM footsteps, expenses minimized, all money going into my future.
>>1318338
As another 100/mo food guy, it's quite possible. I don't even have work TP like him since I work at home. And I eat really well, I'm a good cook and I mostly chomp down sirloin and the like.
It's done like this
> own a huge-ass freezer
> every time good meat/etc is for sale, you buy as much as you can carry
> learn to cook
> don't waste food. It will never spoil on you if you handle your shit well
> no drinking or smoking obviously
>>1318214
I grew up pretty damn poor, so I'm not exactly shooting for the moon or anything. I'd consider myself lucky if I even tripled my salary.
>>1318368
watching trump rally and updated budget
>>1318477
> I need 5k a year in dividends to retire
south america?
>>1318557
Finland, just frugal.
>>1318587
my understand was finland was not a cheap euro country. good luck dude, had no idea you guys could survive on 5k/yr
