Just saw someone post about their monthly budget. I’m about to move to bay area and this is my plan. How is it? TC:170k Base 120k: 20k => 401k 30k => tax Rsu and bouns => invest Monthly: 5600 Rent+util: 2600 Phone+internet: 150 Food(overkill): 300 + company food Clothing: 50 + free swags Other: 1000 Leftover: ~1500 Thinking about getting a car(Tesla model 3), but that’s probably gonna cost around 900(loan+insurance).
Wtf does $50 worth of clothes buy you? A belt?
How can we tell you how it is?
I make 110k base and manage to save 3500 a month with the same rent + utils (2700 for me). Just cook your own food and cut down on your ‘Other’ spending
Other is too much. Be more detailed. Car insurance(if you get a car), car emi, gas, haircut, gym, hygiene stuff. Mine comes to around $4.5K-$5K.
Mine is like this: Base: 110k 401k -> 16.5k (10% + Match) RSU -> 17.5k (Invest) Bonuses -> ~39k (Split into 4, paid out quarterly) Regular Monthly after tax(No bonuses) -> 6300 Rent + Utilities + Parking -> 2650 Phone + Internet -> 160 Food: 300 Savings -> 1400 Other(Debts, insurance, etc) -> 500 Left over -> ~1300 Put 35% of bonuses into savings, rest goes into checking. As others pointed out, your food is pretty high and other could be broken down better. What do you plan on cutting to afford the model 3?
I can cut at least 200 from food. And if I have my own car I don’t have to Uber or Lyft anymore, that probably save me 150-220 a month.
TC: $600K TS: $450K
How often do u eat out What about subscriptions or gym
Company has pretty good gym. So I don’t have to worry about that.
Expenses: $2985 Total Rent: $1000 Electric/Gas: $100 Food: $300 Gym: $90 Eating out: $100 Internet: $90 Student Loan: $350 Misc: $150 Auto Loan:$650 Auto Insurance:$155 My base pay is 106k, I max out my 401k monthly(~$1590/month), my net pay after that is around $4800/month. So after expenses I have $1815 left to go towards investments and savings. I bought the model 3 LR with FSD and 2k performance upgrade. Paid around 25% down up front and got 3.49% APR on 72 month term through Tesla's financing.
You could be making a ton of money if you cut out that crazy car...
Without a car, I would only be able to save an additional $9660 per year if I had no transportation costs, even less if you factor in other transportation costs. I'm already saving ~53% of my net income(including 401k contribution). I live in the Midwest and I currently have around 70k in investments ~2.5 years out of college.
Check this video out https://youtu.be/OTBO9EgSnqM
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The other category has me puzzled. Are you a sugar daddy that you need to spend 1500 a month in other?
Just for hanging out with friends and probably buy some random things I see online. But you are right, I think I can cut that down to around 1000.