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After 12% gross to 401k:
30% net on mortgage
10% net on car
no other debt
I'm not rolling in money but I live comfortably within my means. Been in my house 13 years, at my job for almost 13 and my car (financed at 2.9%) will be paid off next March. I spend most of my money on home improvements. I enjoy making my home my castle.
Kudos to you for getting your degree debt free. Good luck with your new career. I hope you thrive.
We have no kids, and make considerably more than that. We are taxed considerably higher than two non-married individuals with the same incomes. Considerably.
Seriously, you are complaining about that? That has nothing to do with being married(that has to do with having children just so you know), if a couple were married and had NO children, they would be taxed more heavily than a single person.
About 13% goes towards rent.
Paid for car without loan years ago, and I drive maybe about 100 miles a week. Interest payments? Screw that.
Insurance, phone, utilities, internet takes about 5%
Never had any debt, and I'm looking to keep it that way! If I cannot afford it, I do not buy it.
15% goes in my 401K, and 20% goes in my "play money" investing account, for gambling on the world largest roulette wheel I know I should be putting more into my 401K for the tax advantage, but I would rather have access to it quickly, or for day trading when I see good opportunities.
As for the rest, I'll probably start a business or something one day, so I keep the credit score high and have some physical cash to throw around when the time comes.
Hello everyone! I finally received a job offer after 7 months of post-graduation unemployment. Being brand new to the "real world", I'm trying to plan my budget and finances. I'm lucky enough to have $0 student debt thanks to an amazing scholarship.
From my net pay, I spend 35% on mortgage/ins/taxes (which would be like paying rent) and 8-9% on my car payment. A few years ago, I was paying only 25% (vs 35%) and what a difference! I had a lot more extra money for travel/going out/savings/etc. If I could choose to do it again, I probably wouldn't go above 30%. And being single, these expenses aren't being shared with anyone.
I live in NYC and my living expenses are about 20%. Although I probably spend close to 20-30% eating out per month. That's a lot I know, but NYC is expensive!
Kudos to you for getting your degree debt free. Good luck with your new career. I hope you thrive.
Thank you
Quote:
Originally Posted by DecisionYear
What's your annual income?
Salary is 66k, I'm not sure what that figure is like after taxes.
So from what I have decided, I'm going to aim for:
25% rent
10% car payment
Thanks for sharing everyone.
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I know I should be putting more into my 401K for the tax advantage, but I would rather have access to it quickly, or for day trading when I see good opportunities. 
