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OneWhoKnows
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Quote:
Originally Posted by s0me0nesmind1 View Post
Easy starting budget:

Mortgage / rent: SHOULD be 30% - I'm told your house payment shouldn't be over 30% of your income, otherwise you're buying more than you should - but whatev. I'm not a house owner so I wouldn't know for sure.


Mine personally? Below:
Mortgage: 30% (I don't have mortgage/rent at the moment, so thats going into my savings)
Savings/emergency fund: 20% (I'm fresh out of college, I want an emergency fund equal to 6 months of income for backup)
Travel fund: (My girl likes to travel a lot, so I told her I will only go if this account reaches it): 10%
Groceries: 10%
Bills: 15%
Spending: 15% (Going out, extra spending, etc).

Not a bad split, but the percentages depend on your primary interests. My household currently spends a grand a month on food because health is an important factor and properly sourced foods are expensive.

Travel is another big portion and we put more towards that budget.
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Old 02-10-2012, 02:32 PM OneWhoKnows is offline  
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s0me0nesmind1
 
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Originally Posted by OneWhoKnows View Post
Not a bad split, but the percentages depend on your primary interests. My household currently spends a grand a month on food because health is an important factor and properly sourced foods are expensive.

Travel is another big portion and we put more towards that budget.

Yar - everyone is different. Some people don't travel much at all. My girl wants to travel all the fuckin time and it started to REALLY hit me. Between going to France, California, Florida, and Washington State, I was just at a point where I said - look, I wanna set a budget and if I haven't reached it, I can't go.

I probably spend more on the grocery store anyways, but I'm pretty wide open with my stuff right now because I pay... like... no bills, and no rent. I still haven't taken over the cell phone bill or car insurance yet (I promised my mom I would later this year after I finish with some hospital bills I had for surgery).

Laugh at people all you want for living at home, it kicks ass when you stay at your girlfriends a lot of nights and pay no rent spending the rest of the nights at home I'm hoping to fill up my emergency fund and then fill up ~20k in savings for my first house before I even consider moving out.
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Old 02-10-2012, 03:05 PM s0me0nesmind1 is offline  
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DreamWarrior
 
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Originally Posted by s0me0nesmind1 View Post
Yar - everyone is different. Some people don't travel much at all. My girl wants to travel all the fuckin time and it started to REALLY hit me. Between going to France, California, Florida, and Washington State, I was just at a point where I said - look, I wanna set a budget and if I haven't reached it, I can't go.

I probably spend more on the grocery store anyways, but I'm pretty wide open with my stuff right now because I pay... like... no bills, and no rent. I still haven't taken over the cell phone bill or car insurance yet (I promised my mom I would later this year after I finish with some hospital bills I had for surgery).

Laugh at people all you want for living at home, it kicks ass when you stay at your girlfriends a lot of nights and pay no rent spending the rest of the nights at home I'm hoping to fill up my emergency fund and then fill up ~20k in savings for my first house before I even consider moving out.
Yeah, my parents were kind enough to let both my wife and myself move back in with them when we moved back to NJ from FL so she could go back to school. Fortunately, I had two jobs and was making about $200k a year, though I didn't bring home anywhere near that...taxes put it in your ass at that bracket when you have nothing to write off. Of course, my parents still wouldn't take a cent from me for rent, they occasionally let us buy dinner and groceries. Needless to say, we saved quite a little bit.... Of course, then we spent it all to buy the house and furnish it, so...easy come, easy go.
Old 02-10-2012, 10:33 PM DreamWarrior is offline  
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