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Could you please provide feedback to the following budget? I'm a single male with no kids and I am starting a new job. I have to pay my parents back the amount I owe to them for 1,5 years.
6020: Net income
1500: rent+parking (very mediocre apartment in my area)
120: tv internet cell
250: groceries
200: utilities
0: public transportation (company pays for it)
300: 401k (company 100% matches it)
750: help famıily (1,5 years)
100-150: entartainment & clothes
2800: Savings
I currently have 0 debt and no credit cards. What do you think about my budget? Can I save more or is this enough? I am planning to invest abroad with interest rate 3.25% monthly.
Last edited by shadowyman; 09-18-2012 at 08:38 AM..
Looks like you're on the right track! Nice work.
I totally agree with Retroit that maxing out the 401k is a good idea.
Don't forget to have some fun while you're young; you won't regret that when you're older.
You should also have an IRA, although I suppose this wouldn't be included in a monthly budget.
I am just fresh out of college. This is in my mind as well but I want to have a luxury car as a present. I can do this by saving for a year. So this will probably wait until the next year but thanks for bringing it up. It's a great investment because the company matches IRA money for money as well.
Noticed your have 'rent+parking' Do you have a car?
If so you need to factor in car cost, gas, insurance, maintance, tax/reg fees.
Sorry I forgot to mention that. I am not going to have a car for a year until I save for a large down payment. But then of course I should count them in as well.
But the good thing, probably by then I'll be done with paying money back to my parents. So I'll have extra 750 free that can be used towards that.
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