How much of my income should I save ?

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bofaboy420

New

bofaboy420
Feb 18 18 Comments

I live with my parents in a high COL. My main expenses are essentials such as

- vacations
- eating out
- festival/concert tickets
- dates
- drugs
- alcohol

I don’t need to pay for groceries.

I spend anywhere from 1.5k-6k a month and I’m trying to reel in my spending and be financially responsible. In your opinions, how much should I allocate each month and say “don’t spend this”?

The expenses above are prettymuch the only things I “need” to spend money on to maintain happiness.
I’m not into cars, somewhat into nice clothes but my wardrobe is already p good. I have zero interest in FIRE because I’m tryna work until I drop dead.

Other info
I’ll want to move out in a year or two probably into a home I purchase. I’ll have a down payment by then

Currently doing
12% 401k split between Roth and normal
59% auto-transfer to brokerage for savings that’s gonna be split between cash, stocks and a lil crypto

I’m thinking saving 80% of my income is a good number #personalfinance

TC: 130k + 4.8k stipend that I can spend on food/wellness/

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TOP 18 Comments
  • Amazon
    geyrurh

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    geyrurh
    What drugs 👀
    Feb 18 5
    • New
      bofaboy420

      New

      bofaboy420
      OP
      Coke and M are a subset of the drugs
      Feb 18
    • Amazon
      🧜‍♀️™️

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      🧜‍♀️™️
      Hey OP, I did my PhD in neurobiology. Please consider limiting your use of MDMA to 3-4 times per year (personally I aim for no more than once per 4 months).

      MDMA is neurotoxic; it literally, physically “unzips” axons through a process called oxidative stress. In this way, it is quite literally disassembling your brain.

      Your brain can and does heal itself from this. But it takes a few months.

      Also, I’d recommend megadosing on vitamin C and alpha lipoic acid (ALA) before, during, and after your roll. These are antioxidants that mitigate oxidative stress and in animal studies have shown substantial protective effect.

      Not saying don’t do M, I think it’s a beautiful thing and I use it too. But take care of your brain!
      Feb 18
  • Meta
    qMIJ31

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    qMIJ31
    I don't live with my parents and save 70% of my income. You got this.
    Feb 18 5
  • Amazon
    🧜‍♀️™️

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    🧜‍♀️™️
    Yea, saving 80% of your income is outrageously good. If you can do that then definitely do. Just try not to keep too much cash, ensure your investments are diversified (within AND across asset classes) and you’ll be retiring in no time. :]
    Feb 18 1
    • New
      bofaboy420

      New

      bofaboy420
      OP
      Thanks. Retiring early would be cool but buying a beach house with live in only fans girls would be cooler so imma strive for that
      Feb 18
  • Square
    butt-coin

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    butt-coin
    That list of essentials seriously had me thinking this was a troll post
    Feb 18 2
  • Holy fuck I only save like 30%
    Feb 18 0