What would you do differently? I am single, 31, no kids, live in Seattle, 10K net income per month Bills Rent: $2,255 Rental insurance: $21.00 Utils: $200.00 Car: $280.00 Car Insurance: $160.00 Amazon (Prime/Fresh/Subscribe and Save): $800.00 Youtube Premium: $13.22 Google Drive: $10.00 Comcast: $42.00 Phone: $70.99 Netflix: $15.50 Spotify: $11.00 Adobe CC $11.00 Day to day expenses (Dinner w/ friends/coffee/etc): $900.00 Savings/Investments Roth (maxed out): $460.00 401K (no match): $540.00 HSA (matched & maxed out): $200.00 Convoy Options: $600.00 Vacation: $1,300.00 Index Funds $600.00 Car $400.00 Short term savings (generally used for clothing/furniture/electronics) $600.00 I've also got a $15,000 emergency fund TC: 330k
Aren’t you over income limit for Roth IRA contributions?
oh, I was actually gonna try to set that up this week, I guess I'm gonna have to do something else...
Just take what you would put in that and add to the 401k Or do regular IRA but no tax benefit
Why isn’t 401k maxed out?
no match
Would max out anyway
I’d personally bump up emergency fund to 6 months of living expenses. Also 15k/year for vacations sounds insane to me, but if it makes you happy, then go for it. You’re saving a lot already.
I take weekend trips every now and again to visit Family in other states and I'd like to start travelling more internationally hence the high budget
How is your net income 10k on 330 tc. Should be like 17k
Tc is mostly options
Yeah your budget and life looks boring as hell. You have enough to afford a nice wife and some kids. Keep saving but start looking for that nice girl to take care of you, kids and house.
Some kids 😆
What does a fun budget include? I am thinking about wife and kids but a house is probably out of the question given the prices in Seattle, at least for now.
Contact CNBC and have Mr. Wonderful rate it.
OP How old are you?
31
You definitely need to up your dating game if you don't have a girlfriend already. Also think about settling and plan for your family's future like buying a house, kids education, etc.
Good job 👏🏽 i only see minor improvements needed , Your utility bill is high for a Single guy r u staying in a Townhome or SFH ?
Yeah, I think the highrise I'm in is ripping me off but oh well
Why is Car listed in both categories? Also, I think your phone bill is too high. I would try to save as much as possible in the other categories to spend more on things that I truly enjoy doing. If that is already in place, just invest it.
My car bill is my car loan payment. My car savings account is used for maintence/issues that seem to always pop up. It has been a life saver several times.
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Start dating.
You def need a dating budget Unless you’re always invited
OP, create a dating fund that you donate to charity every 3 months if you don’t spend it on dating.