Im planning on moving out for the first time ever from my parents house and really don’t want to fuck up. 2022 Budget (this is accounting for 401k, hsa, etc. already paid pre tax) I currently make 140k + 15% bonus + 54k in equity Take home: 6300 Rent 1750 (1bed/1br) Car 500 Parking 150 Food 500 (300 home/200 out) Insurance(s) 254 (car + renters) Savings 1500(cash) Metro 100 Utilities 300 (heat/gas + electric) Gas 160 Random/spending 944 Wifi 64 Phone 42 Gym 40 Current savings 11k ** phone is on a family plan, rent is already locked in at that price in Queens Gonna pay for metro with pre tax dollars later on Savings plan to 2030: 18k + 12k (post taxes) eoy bonus + 31k equity(post taxes) Will be taking half of this cash, until I have 25k liquid then all of it, and investing into index funds until im ready to buy a house Over 8 years = 472k total // 420k for a house downpayment Thanks! #nyc
Jesus how do people get those offers right out of undergrad?
How are you paying 1800 for a studio? Are you in queens?
Insurance seems high. Try moving to Metromile if you don’t drive frequently.
Visit home quite a bit + cheapest rent relative to desirable area personally. Insurance is because im young :/ wont see it fall til im 25
Fing NY doesn't allow Metromile
You're fine. Your pay is also going to go up over the years, so you'll probably get to your savings goal faster than you expect
Thats what im thinking, but trying to live on a more conservative long term budget to prevent lifestyle creep. Thank you!
If this is an onsite offer you can't do much better in NYC What car is $500/mo? Also make the fing use of Google free food
- BMW 340xi I bought at my last job, outside of NYC. Considered selling but rent for a decent 1 bed in manhattan is 2500 + utilities alone, may as well suck it up and pay the difference between these situations and own it with my rent being 1900 total
And oh for sure, I plan on going 5x a week for food alone lol
Car too expensive. Makes your insurance higher too. You're spending $750 a month not including gas or parking on your car. With gas and parking, it's like $1000. That's crazy. Plus you're driving around NYC. Not the best place to have a nice car. It's gonna get bumped in parking lots and parallel parking and side swiped on narrow streets. Consider a cheaper car
Most companies in NYC give you a transit, internet/phone benefit. I would be really surprised if google didn’t give you a gym stipend too
They do, but for budgeting sake im not counting it (but i do use it).
Bruh! You work at Google, don’t worry too much about the budgeting. IMO your focus should be how to make your life so easy that you don’t dread staying in the game for next twenty years.
Get remote approval asap and leave NYC. You're throwing away most of your money on high COL there. Elsewhere in the country you'll pay 500-1000/mo and no income taxes for a better QOL
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Do you need a car in NYC?
Manhattan? No Brooklyn/Queens? It makes your life way more easy + I visit family on Long Island
Ok, your expenses look fine. Just keep an eye not to let more stuff creep into it as your tc increases and you should be good.