Moving to Bellevue soon. Totally clueless about budgeting, would appreciate some guidance. Based on my research and reading other people's budgets, this is what I have come up with: Monthly in-pocket base salary (after tax, 401k max, etc): +$4900 Rent (studio apartment): -$2000 Utilities: -$200 Parking space: -$200 Car insurance: -$100 Gas: -$200 Food (mostly cooking at home): -$200 Phone bill, other: -$200 Remittance: -$500 Remaining balance (for saving/investing): $1300 How does this budget look? 1- My office is in Bellevue downtown and I will probably stay nearby. I saw some studio apartments in the area go for as low as 1.7k/month. But after all hidden fees and whatnot, it probably comes out to around $2k? I also saw some ads on FB marketplace for non-corporate-owned apartments which are cheaper, but kinda seems scammy? 2- Heard you don't need a car to live in Seattle downtown, but how about Bellevue? YOE: 1 TC: above + 120k stock/4 years + 50k joining bonus
Looks ok for 1yoe. But u need to make much more as you gain experience, you won’t ever be able to afford anything more than popcorn and drinks money with that budget
Calm down homie. OP is just getting started. We've all been there.
You don’t need a car in downtown Bellevue, but you may want one to explore the area/make it easier to get around. Rent seems low, food budget seems low. The rest is fine, except why so much gas?
Join the FB group for MSFT employees and you can probably find cheaper apartments by taking over someone else’s lease. Also phone bill is really high, id try to join a family plan with some coworkers. Everything else looks about right, and you can definitely live without a car in downtown Bellevue
60k take home per 4800 monthly +30k stock yearly = 2k/monthly = 24k yearly 50k first year = 35k take home = 3k/month 9.5k/month for first year = 5k/month remaining Pennies compared to the TC braggadocio on here, but good enough if you're diligent about saving and investing.
Seems reasonable to me. I have never said this to anyone's budget on blind, but seems low. You should put some money somewhere for hobbies (gym, rent paddle board or kayak, dining out, mini golf, photography, whatever, just something fun for you) I think you can swing a bit less in gas, depending on if you're driving around to hike or not. If you're just driving around the city, maybe 120. Non-corporate apartments aren't scams, but check them out in person and see if the landlord seems alright and how they keep up the place. You could prob get a 1br for 1800-2000 if it's not in a big luxury building with a concierge. But if you want to be in a dorm-style building with a roof deck, events, other young professionals you can meet, then your budget is probably right
Yeah it makes sense. And for sure, money for hobbies would probably come out of the "Remaining Balance"
So you're basically not spending your 120k stocks and 50k jb in your monthly budget? Then seems pretty good for new grad.
That's correct
If you share with a roommate then rent might go down, but you'll have lesser privacy. Don't use FB marketplace, maybe check out Zillow or hotpads. If you're new to the place, use corporate housing or stay in an Airbnb for a few weeks until you get a decent idea of the place.
Remittance ?
What’s your base?
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Looks right. New grad at 59?
Yep (: