I was trying to calculate how much I need to spend in a year to maintain current QoL and I reached a number of around $55k Here's my monthly budget Mortgage $1300 (live in GA) Other bills (electric, water, gas, HOA) $286 Internet $100 Phone $35 (I have a flexible Google Fi plan) Online subscriptions $100 Monthly grocery budget $700 Monthly shopping budget $500 Monthly home repair/maintenance budget $500 Car $800 (Tesla model 3) Car insurance $166 Car maintenance budget $100 4y avg TC is $315k in current stock price Though I'm fairly new to amzn so most of my comp is still cash, and 1st cash comp is $335k I try to invest most of my salary to s&p 500 and 401k I used to invest some of it into crypto and I also used to work at CB and still have a lot of stock there, which crashed significantly I'm 27yo and single What do you think about my spendings? Is there anything I can cut? What's your yearly budget?
Home repair $500 every month for a $1300 mortgage payment home means you have a problematic home. But as a whole this is nominal expense in total month and S and P is a decent place to stash your cash without putting your mind to it. Total budget varies by where you live. Bay area now I have $135k budget with a TC of $420K. With 1 kid. I feel it is very nominal for me.
The only place I feel you can save more is grocery and shopping. Besides that everything seems reasonable to me.
Most of the year I don't do a lot of shopping but in the last 2 months I went a bit crazy (black Friday and all of that) But as long as I do less than $6k/y shopping I'm fine Regarding groceries, I agree
Where is the discretionary spending? You don’t spend anything? Don’t get married, you’ll spend a fortune on pillows 🤦♂️
ditch the car payment also what a boring life!
My average car spend last ten years was $2500/year and that includes garage (rented), insurance, gas & maintenance. So that's the biggest area where I think you can make some cuts if you want.
I could probably get away with a cheaper car What car do you have?
What’s ur location for that low mortgage?
GA
lol