Posted: Sun Jan 27, 2013 3:22 am
I'm buzz. I'm 22 years old, and my goal is to retire by 32 and then get on the first colony ship to Mars (yes, seriously)
Here's what 2012 looked like for me:
Total Expenses: $17,281.69
Rent & House Stuff: $5,523.90 - About $460 a month
Car Care: $1,740.71 - $510 for car insurance, $80 for inspection/registration, $370 for 3 tires and $716 in repairs
Big Ticket: $1,243.32 - A trip to the eye doctor and two college meal plans made this pretty high.
Bills: $1,150.83
Entertainment: $1,107.65
Misc: $1,238.21 - This is money lent out that was paid back as well as some travel costs.
Gas: $871.79 - This makes total car expenses total over $2,500 or $215 a month
Gifts: $478.31
Education: $382.34
Clothes/Haircuts: $195.49
ATM/Cash: $190.00
Food & Grocery: $1,413.97
Restaurants: $881.21
Fast Food: $863.96 - This one's embarrassing.
* All together food spending adds up to over $3,000 or $250 a month!
Total Income: $19,728.85
Job: $10,636.95 - part time work
Deposit: $9,067.37 - loan repayments, college refund, misc. income
Interest: $24.53
Income - Expenses = +$2,447.16
SR: 12%
My savings rate is on par with the average American household, working about 20 hours a week at nearly minimum wage while at a state university. Are you even trying, average household??
For 2013, I'll be getting a more expensive apartment, but I will be closer to my first full time salaried job. The goal is to reduce expenses, eat healthier, make food at home and minimize car costs (my 16 yr old car requires a lot of repairs) Goals: (I don't "budget" strictly)
Rent: $6,000
Car Care: $1,000
Big Ticket: $500
Bills: $1,200
Entertainment: $700
Misc: $500
Gas: $600
Gifts: $500
Clothes: $200
Food/Grocery: $2,400 (minimize eating out)
Total: $13,600
I am currently homeless until I find a suitable apartment. I'll update when I do as this is by far my biggest expense. With housing my goal is to buy a cheap foreclosure in need of repairs, similar to @MikeBOS, and learn as I go, but I need the capital first. My car is a keeper in terms of insurance and it doesn't require a payment, but repairs suck up a lot of cash since anything beyond an oil change frightens me. I want to eat better for my health and for my budget, and I'll update on this point also, but it's hard to cook when you don't have a kitchen. Hopefully that will change soon.
The positive side: I have 25k cash, zero debt, and a brand new shiny degree.
I landed a career-track job recently that nets me 30k a year base, with potential for bonuses and commission.
I'll try to update monthly. I love feedback of all kinds, and this is what will encourage me to keep posting. Also @ThinSlicer... still waiting for your journal.
Here's what 2012 looked like for me:
Total Expenses: $17,281.69
Rent & House Stuff: $5,523.90 - About $460 a month
Car Care: $1,740.71 - $510 for car insurance, $80 for inspection/registration, $370 for 3 tires and $716 in repairs
Big Ticket: $1,243.32 - A trip to the eye doctor and two college meal plans made this pretty high.
Bills: $1,150.83
Entertainment: $1,107.65
Misc: $1,238.21 - This is money lent out that was paid back as well as some travel costs.
Gas: $871.79 - This makes total car expenses total over $2,500 or $215 a month
Gifts: $478.31
Education: $382.34
Clothes/Haircuts: $195.49
ATM/Cash: $190.00
Food & Grocery: $1,413.97
Restaurants: $881.21
Fast Food: $863.96 - This one's embarrassing.
* All together food spending adds up to over $3,000 or $250 a month!
Total Income: $19,728.85
Job: $10,636.95 - part time work
Deposit: $9,067.37 - loan repayments, college refund, misc. income
Interest: $24.53
Income - Expenses = +$2,447.16
SR: 12%
My savings rate is on par with the average American household, working about 20 hours a week at nearly minimum wage while at a state university. Are you even trying, average household??
For 2013, I'll be getting a more expensive apartment, but I will be closer to my first full time salaried job. The goal is to reduce expenses, eat healthier, make food at home and minimize car costs (my 16 yr old car requires a lot of repairs) Goals: (I don't "budget" strictly)
Rent: $6,000
Car Care: $1,000
Big Ticket: $500
Bills: $1,200
Entertainment: $700
Misc: $500
Gas: $600
Gifts: $500
Clothes: $200
Food/Grocery: $2,400 (minimize eating out)
Total: $13,600
I am currently homeless until I find a suitable apartment. I'll update when I do as this is by far my biggest expense. With housing my goal is to buy a cheap foreclosure in need of repairs, similar to @MikeBOS, and learn as I go, but I need the capital first. My car is a keeper in terms of insurance and it doesn't require a payment, but repairs suck up a lot of cash since anything beyond an oil change frightens me. I want to eat better for my health and for my budget, and I'll update on this point also, but it's hard to cook when you don't have a kitchen. Hopefully that will change soon.
The positive side: I have 25k cash, zero debt, and a brand new shiny degree.
I landed a career-track job recently that nets me 30k a year base, with potential for bonuses and commission.
I'll try to update monthly. I love feedback of all kinds, and this is what will encourage me to keep posting. Also @ThinSlicer... still waiting for your journal.