I started tracking my budget closely: Results (AMA)

[DatFeelGuy]

gjdm on the savings.

but your situation is a bit unique because you on dat cheapo rent split with gf. you must live in bumfuk nowhere.

these are my estimates

Rent - $1000 (all utilities included, also internet+cable included). dat feel when no GF to split it with
Car - $300/mth
Gas - $50/mth
Car Insurance - $75/mth
Cell Phone - covered by company up to $50/mth
Entertainment - $200
Student Loans - $500
Gym - $25/mth
FOOD - $450 (actually added it up last month, fkin canadian food prices)

Total - $2600/mth

Rent, Food and Student Loans alone is 1950. It's absolutely ridiculous. In about 3yrs though, I should be on dat $350K/yr CEO status, so just got to make it until then.

I actually live 15 mins from downtown of a fairly major city in USA. What are your interest rates on your student loans? You're paying those back really aggressively or you're locked into that payment?

[DatFeelGuy]

I highly recommend using Quicken (you can find it for free if you look around, other else cost like ~$30) to track expenses. It is the GOAT way to track IMO. Have been using it since November and have saved more money than usual just by using this program.

Nice brah! I've never used it but I'd imagine it works pretty well. It's amazing how much you save when you just start tracking this stuff.

[18ToLife]

Included in misc expenses is my $10 monthly payment to planet fitness. $260 is lower than my normal food budget though. I made very good use of gift cards this month.

$10 monthly payment to planet fitness


planet fitness


inb4 misc

[SoftwareBrah]

So splitting rent on a cheap as fuk apartment is a good way to save money? Who knew

[DatFeelGuy]

So splitting rent on a cheap as fuk apartment is a good way to save money? Who knew

Savings in general are a good way to go. Thanks for stopping by.

[18ToLife]

200/week on food is absurd. Other than that, it sounds like you're doing all right. Keep in mind that the portion of your mortgage payment that goes to principal is actually an investment/savings. The portion that goes to interest/PMI is an expense.

20x7 is already 140 though

i average around 100-150 for food

[IronBrahh]

$260 for a month of food? am i doing somethign seriously wrong?

[ziaziazia]

Food: $400
Gas: $200
Gym: $FREE
Golf: $420

ahh fuq it, i don't want to know.

[1010101]

Making 75.4k annually, 26 living with my parents. In the process of buying a .34 acres. Plan on building 200k home on the land.No food expenses, or rent. Only paying cell phone, use a company car for work so I fill my personal cars tank maybe once a month.

Its crazy how just having help with stuff like a place to stay and free food enables a person to really save. OP's entertainment cost and misc expenses are 90% probably because the gf. I got my degree last year, literally spent 5-6 years in college living the "college student" life. Went from zero to hero real quick

[JungleJenetics]

Mind=blown at the food prices mentioned itt, do you guys know what a stove is?

[peasantbruh69]

Income: $800
Rent: $333.36
Internet: $33.34
Electricity: $20
Food: $240
Mobile phone: $60
Other/Entertainment: $100
Savings: $13.30 aw fuk bye

[AirTimeMD]

I use Mint to track expenses.

[Changedmalife]

rent $14,525
car payments $17,000+ (ferreira, truck, boat)
utlities $1750
left over cash 10k a day

[BAMF11]

I have a similar budget to you but my rent is $1000 higher and my entertainment expenses are about $300-400 a month. Do you include things like flights over the holidays, buying your GF a birthday / vday gift in here? Or is that just in misc.? Im guessing misc. includes incidentals like parking tickets, car repair, etc.

[Cjjlpsp]

Rent: $0 (parents basement)
Car payment: $0 (never leave the basement, no need)
Car Insurance: N/A
Food: too much, Doritos and mountain dew add up
Entertainment: not much (no friends except misc + WoW subscription)

[DatFeelGuy]

Making 75.4k annually, 26 living with my parents. In the process of buying a .34 acres. Plan on building 200k home on the land.No food expenses, or rent. Only paying cell phone, use a company car for work so I fill my personal cars tank maybe once a month.

Its crazy how just having help with stuff like a place to stay and free food enables a person to really save. OP's entertainment cost and misc expenses are 90% probably because the gf. I got my degree last year, literally spent 5-6 years in college living the "college student" life. Went from zero to hero real quick

Wow brah, mirin savings ability but living with the rents isn't an option for me nor would I want to @ my age (27). The longer you do it, the better off you'll be financially though. Build a dope ass house with a home gym.

[DatFeelGuy]

Mind=blown at the food prices mentioned itt, do you guys know what a stove is?

Thank you...I was beginning to wonder wtf was going on.

[DatFeelGuy]

Income: $800
Rent: $333.36
Internet: $33.34
Electricity: $20
Food: $240
Mobile phone: $60
Other/Entertainment: $100
Savings: $13.30 aw fuk bye

The good news is that you have to be really disciplined to live on that small amount of money so when you're able to start generating more income, you'll be ahead of others who make the same as you.

[choo7]

$260 for a month of food? am i doing somethign seriously wrong?

Do you actually live in Toronto? You must be shopping at the sketchy Asian grocery stores.

Lemme give you a tip. Want to save money on food? NEVER shop at American chain stores like Albertsons, Ralphs, Krogers or whatever they have in Canada as well....

GOAT are the "sketchy' ASIAN grocers and LATIN Grocers... MUCH CHEAPER... Chain grocery is a rip off.. everything is 50x more expensive.... You may have to drive to the ghetto but its worth it... PRODUCE AND MEAT IS WAY CHEAPER AT ASIAN STORES...

Only chains that are decent priced are FOOD 4 LESS and WALMART; WALMART has very low prices.

If you are shopping at a fancy place like Vons/Pavilions ur getting RAP3D

[ltrrtl218]

How do you only spend 225 a month on entertainment? I can't even go get a decent sit down meal with my gf for under $100 once you factor in apps desert and wine.

Chit just getting yucky with my buddies on a weekend sets me back a few hundred easy.

[DatFeelGuy]

I have a similar budget to you but my rent is $1000 higher and my entertainment expenses are about $300-400 a month. Do you include things like flights over the holidays, buying your GF a birthday / vday gift in here? Or is that just in misc.? Im guessing misc. includes incidentals like parking tickets, car repair, etc.

Yeah I would include gifts/flights in misc. If it was vacation, probably entertainment. Incidentals, car repair, etc in misc as well.

[DatFeelGuy]

How do you only spend 225 a month on entertainment? I can't even go get a decent sit down meal with my gf for under $100 once you factor in apps desert and wine.

Chit just getting yucky with my buddies on a weekend sets me back a few hundred easy.

It helps if your gf isn't a whale that needs a 5 course meal.

not srs--But I really only spend about 35-45 when we go out to eat. 2 drinks (5ea), 2 meals(10ea), tip. Sometimes we get an app or desert but I rarely, if ever, spend >50 on a meal for 2 people and if I do it just feels wasteful.

A few hundred to get drunk? Dafuq you drinking?

[jwtiger69]

Mortage- $2000
Daycare- $1200 (two kids)

Realize I will not save anything until my kids are out of daycare...... lol!

[eXistenceLies]

Income after taxes between $5000-$5400

Car - $666
Insurance + Renters - $206
Personal Loan - $522
Rent - $500
Utilities - $200
Student Loan - $250
Cable + Internet - $135
Phone - $80
Gym - $32
Tan - $23
Spotify - $10
Netflix - $9
----------------
Total - $2633

Gas usually runs me $200 or less a month
Grocery shopping between $200-$400 a month

So that is $3233 a month just to live on. Leaves me with $1767 to $2167 a month to save/entertain myself.

[uabeng]

Doesn't seem like a reallife budget. Grab Mint and reevaluate.

[DatFeelGuy]

Mortage- $2000
Daycare- $1200 (two kids)

Realize I will not save anything until my kids are out of daycare...... lol!

Wow man--daycare is crazy expensive. Remember that the portion of your mortgage that goes to principal is actually an investment/form of savings. Do you have any family nearby that could watch your kids? What if the lower earner in your family works from home instead? $1,200 after tax + whatever they can make from home might be more than they are making now?

[dc1717]

rent $14,525
car payments $17,000+ (ferreira, truck, boat)
utlities $1750
left over cash 10k a day

ayyy will rep off r/c

[Ratfish]

I make 59k. My monthly pretax income is ~$4,900 and my income after taxes, medical/dental/vision, etc. is $3,550. Here is my breakout for April savings and expenses.

Expenses
Rent: $400 (I share an 800sf 1 br apt with gf--utilities included = heat, water, cable & internet). We have a great deal on the apartment.
Car payment: $200
Car Insurance: $105 (past speeding tickets)
Gas: $105
Food: $260
Entertainment: $225
Misc. Expenses: $85 (Just random stuff that comes up that you can't predict. Should be part of your budget.)
Electric: $40 (split with gf)
Haircut: $20

Total Expenses: $1,440

Savings
401(k) Contribution: $195
Employer Match: $195
Income Left: $1,915

Total Savings] $2,305

My living situation right now is ideal for saving money since my rent/utilities are so low. I spend just as much on auto expenses as I do living. I use the app mint to track all my expenses--I suggest you do this too! Feel free to share your own or ask questions.

just lol @ spending $85 on the misc. every month. you know you can post for free, right?

[sword_]

Where do you live OP?

just lol @ spending $85 on the misc. every month. you know you can post for free, right?

You so poverty that you can't afford a Platinum Account? Just LOL @ you.

[jwtiger69]

Wow man--daycare is crazy expensive. Remember that the portion of your mortgage that goes to principal is actually an investment/form of savings. Do you have any family nearby that could watch your kids? What if the lower earner in your family works from home instead? $1,200 after tax + whatever they can make from home might be more than they are making now?

Daycare sucks but it is what it is. I would love my wife to work part time but at the moment we cannot afford it. We are hoping that once the kids go to real school that she can make that transition. We get by just fine... It would just be nice to put a little more in the bank!