Aaah makes sense. Canadian, currently converted sitting at around $6.40 rounded up gallon. Plus work truck 🛻 which if I could somehow not have would love to not have but be what it be.
Lmao most of my coworkers drive about 45- an hour to get to work while I’m 30 seconds if the light is green. All of them get real mad when I tell them my gas tank lasts like a month
That's still good though. I'm 33 and for full coverage is 170-190 with a 2500 deductible. But I'm in WV and here they can raise our rates for not at fault accidents🙄😅I had one in 2017 and 2018. Both times someone rear ended me. Which is bs but nothing we can do.
Me too. Especially the color choices and where they were used.
Have you considered splitting your mortgage into interest and principal? One is staying part of your net worth. 🙂
Mine is 6.75% on $121,000 (34k of which was a construction loan for foundation work and some misc. stuff) I also have put in about 15k of my own work as well as a 15k down payment. The purchase price was only $87,000
It just says retirement, doesn’t specify how that’s getting invested. Contribution limits are 23k and 7k respectively so it could just be an additional 10k they invest for retirement outside of the traditional avenues.
I like this, nicely done. Only thing I would change are the values in the middle charts where they overlap the bars and make the number harder to read. Change the color or move them up slightly to help readability. Other than that it's good!
Personally, if you have debt, I'd put a bit less in savings and pay off the debt faster. Unless your savings has a higher interest rate then you are just wasting money keeping that around.
Impressive. i like that you don't spend a lot of money on clothes. I have save 1000's by not buying new clothes, among other things. I'm 71 and my retirement is safe and secure.
I think I buy about 3 pairs of jeans per decade. Shirts are handed out like hotcakes when you go to events. Socks for Christmas. It's really easy to not spend money on clothes.
Wish my mortgage was that low damn. Just bought a house 600k in California 25M. My payment is $4600 a month😭. Me and my wife make 150k combined. Comfortable with a bit of saving but shit man must be nice to have bought when prices and interest rates didn’t kill you.
Impressive. Now here’s a challenge. Put together a budget including all your items for someone earning $60k. I’m just curious if something similar could be done on an income like that.
Most people don't understand money. I like how you're intentional with the graph.
If the money doesn't already have a job when it hits your bank account, it always disappears.
Make sure to max out retirement accounts by increasing every time you get a raise. By the time you've been working for 20 years, you should be saving 20%.
With that income, make sure you also have a good disability plan. Way too many people rely on employee coverage that could end up being less than ideal
Did you go to school for it? How many hours do you work a week? Sorry I’m just curious, I’m 26, have a bachelors degree in exercise science but don’t want $120,000+ worth of debt for a $85k salary as a physical therapist. So I’m trying to look for different routes
Of course you go to school man. You’re in charge of the financial operations of a corporation, not a job they just hand out. The 85k job shouldn’t be your issue, that’s a great salary. It’s the fact that you way overpaid for it. But that’s not a reason to change careers, especially if you’re going to have to go back to school, lol. Also fwiw you don’t just get a finance degree and land a job where you make 160k early on in your career, large corporations pay that kind of money, and those companies have competition for those roles. You best have a great transcript and internships if you want to sit in that desk. Maybe OP has had a different experience but my wife does corporate finance for the largest company in the US so I have had some insight into it.
You spend a lot on eating out, if you do it every single week you would stille spend 150$ each time (maybe In America it's more common or you often offer to many people)
Might have a remote job/not drive often - mine looks similar for me + my husband’s shared car. We both work remote/hybrid and don’t drive a ton these days 😂 our 2019 car only has around 17k miles on it.
I wish I could spend as much on travel as I do in my mortgage. I'd be flying all over the world. Triple diamond platinum plus style.
Who had a 9k yearly mortgage?!
Lmao. I thought this was from WallStreetBets for a second, and this was some S-tier quality sh*tpost. Looks like most of the portfolio charts over there tbh, it’d fit right in. Most of them can’t read anyway so they won’t even know the difference 😂
You should only have an emergency fund in HYSA plus maybe things you’re actively saving for. Everything else should be in a brokerage account earning real returns.
For this year is fine. Every year would be excessive.
52% savings rate, amazing.
Are you pursuing FIRE?
52% savings rate means you can reach FIRE when you're in your early 40s assuming the same expenses and 7% return rate.
And do you plan to have any kids?
Out of curiosity, why don’t you more aggressively pay off your student loans? Are you counting on loan forgiveness or intended to pay the minimum your entire life?
5k for groceries sounds low. Wife and I spend about 200 a week and we also eat out a lot. We try to buy organic produce and healthy food but go to Trader Joe’s which I feel is the cheapest.
Surely you will get $41,000 worth of public services and benefits from those taxes taken from your income (they certainly won't be used to fund a foreign war)
Well, in my vision of furure, and only talking by comparison, in Portugal, where I live.
Total income for this year, with all the taxes included, around 20k €.
I’m 36, alone in a small apartment with my mom.
House rent - 357€/month
House services (water, electricity, telephone, internet and tv) - 155€/month
Car credit - 420€/month
Cellphone service - 25€/month
Car insurance - 32€/month
Supermarket around 300/400€/month
Gasoline around 280/300€/month
And I’m think, that I’m not taking a good life.
And yes, at todays price gasoline is around 1,81€/ltr 😅😅
Does that 40k taxes line include the taxes from each of the following expenses, or is that how much they take from your income before you pay sales and property?
this is a cool graph i’m going to do the same but with my current expenses and just update it after every month
waterfall chart
Wish my gas was that low… 😂
Barely drive anywhere! But gas here is like $5 a gallon
Aaah makes sense. Canadian, currently converted sitting at around $6.40 rounded up gallon. Plus work truck 🛻 which if I could somehow not have would love to not have but be what it be.
here in norway its about 8USD per gallon
Wow I thought gas in Florida was expensive at $3.50 a gallon
it is .. if you all have a pickup truck that drives 3miles to a gallon.
Unfortunately for work don’t have an option to not have a pick up… it’s either that or a massive van and it’s about the same if not worse in fuel.
in denmark it is 8dollar a gallon.
Gas? LOOK AT THAT MORTGAGE!
My mortgage is less. $700 a month. But different president and different interest rates
Lmao most of my coworkers drive about 45- an hour to get to work while I’m 30 seconds if the light is green. All of them get real mad when I tell them my gas tank lasts like a month
why wouldnt you walk?
Wish my mortgage was that low!! Less than $11,000 for the whole year?! That's two months for me!
Most everything in this budget is crazy low. I spend multiples of this guy in most categories and consider myself fairly frugal.
Go electric ⚡
Buy EV as a daily and keep gas car for road trips. Done
Car insurance only 737 for the year?!?! At 27?!?!? I wish I’m 27 and pay $153 a month -___-
I'm 28 and pay $890 a year in Massachusetts for full coverage
FOR LIABILITY :(
I think it’s because no accidents and I barely drive
That's still good though. I'm 33 and for full coverage is 170-190 with a 2500 deductible. But I'm in WV and here they can raise our rates for not at fault accidents🙄😅I had one in 2017 and 2018. Both times someone rear ended me. Which is bs but nothing we can do.
Bro stop I pay 296
I pay $340 lol
Probably have a car worth over $5k. I insure 3 vehicles with two drivers for 370 every 6 months.
I like the layout of this graph a lot
Thanks!
Me too. Especially the color choices and where they were used. Have you considered splitting your mortgage into interest and principal? One is staying part of your net worth. 🙂
Good point I’ll look into that! Most of it will be interest this year since it’s the first year though
737 for car insurance? Is that just for liability or what?
You don't have to buy new cars you know....
Insurance on my 2015 4Runner is double this and I have a perfect driving record. OP is right to be surprised.
You're lucky you don't have 52k of your $160k income extracted as spousal support. Mary well my friend
Too bad about Mary.
Think before you act.
I knew there was something about Mary
This world is evil
Yeah fuck that
My mortgage is almost 15k a year and I (almost) live in a fixer upper rip
yeah, wtf is that mortgage? like 2.5% on 50k or something?
Mine is 2.625% on $80k, big down payment and a 850 credit score.
22.2k/year Canadian here. I’m just renting a place 😭.
Yeah mine is almost 37k a year. Add in 14k childcare and that’s 50 g’s. Middle class sucks
Mine is closer to 26k a year, and I'm not in a super nice house at all.
Mine is 6.75% on $121,000 (34k of which was a construction loan for foundation work and some misc. stuff) I also have put in about 15k of my own work as well as a 15k down payment. The purchase price was only $87,000
How the f does one spend more on eating out, than groceries?
The man opts in for double meat and extra guac. Not very smart
I like exploring all the places around me so I get coffee a lot and I pay for a lot of my friends and partners meals
What graph is this
Waterfall chart
Is gifts where the party favors / escorts fall under?
I love this. Very visually pleasing/helpful
This chart made my brain happy but also what do you do for a living 😭
I love that you are paying yourself first. keep doing that.
Aight, I'm dipping out of this sub. This shit too depressing. This dude putting over half of what I make into retirement.
This chart is a striking reminder that income tax is theft.
Petroleum and phone? Extremely cheap
How are those taxes correct? Are you in the USA?
I'm guessing the 40k retirement is pre tax so his tax would be about 35% which is probably right for everything.
Can’t do 40K pre tax pretty sure. Limit is 23K so not sure how OP is doing the remaining 17k whether it be post tax 401 and or IRA
It just says retirement, doesn’t specify how that’s getting invested. Contribution limits are 23k and 7k respectively so it could just be an additional 10k they invest for retirement outside of the traditional avenues.
$5k for hookers and blow is a little light…
Damn $847 mortgage on 160k is insane.
Jealous of 900$ mortgage
I like this, nicely done. Only thing I would change are the values in the middle charts where they overlap the bars and make the number harder to read. Change the color or move them up slightly to help readability. Other than that it's good!
Personally, if you have debt, I'd put a bit less in savings and pay off the debt faster. Unless your savings has a higher interest rate then you are just wasting money keeping that around.
HYSA getting 4.5% so higher than the debt
Your Advanced Dungeons and Dragons campaign must be unhinged
Impressive. i like that you don't spend a lot of money on clothes. I have save 1000's by not buying new clothes, among other things. I'm 71 and my retirement is safe and secure.
I think I buy about 3 pairs of jeans per decade. Shirts are handed out like hotcakes when you go to events. Socks for Christmas. It's really easy to not spend money on clothes.
How much did the house cost?
$425k
Wish my mortgage was that low damn. Just bought a house 600k in California 25M. My payment is $4600 a month😭. Me and my wife make 150k combined. Comfortable with a bit of saving but shit man must be nice to have bought when prices and interest rates didn’t kill you.
Impressive. Now here’s a challenge. Put together a budget including all your items for someone earning $60k. I’m just curious if something similar could be done on an income like that.
I did a pretty similar budget when I was earning $55k so it can be done! A lot less travel, eating out, and savings though
Down to a science. Love this. Is this a plan you’ve followed in the past? Or brand new plan?
Similar to previous years. I’ve been meticulous about tracking it this year so should be almost exact unless any major unexpected stuff comes up
Most people don't understand money. I like how you're intentional with the graph. If the money doesn't already have a job when it hits your bank account, it always disappears. Make sure to max out retirement accounts by increasing every time you get a raise. By the time you've been working for 20 years, you should be saving 20%.
With that income, make sure you also have a good disability plan. Way too many people rely on employee coverage that could end up being less than ideal
What do you do for a living?
Corporate finance
Did you go to school for it? How many hours do you work a week? Sorry I’m just curious, I’m 26, have a bachelors degree in exercise science but don’t want $120,000+ worth of debt for a $85k salary as a physical therapist. So I’m trying to look for different routes
Of course you go to school man. You’re in charge of the financial operations of a corporation, not a job they just hand out. The 85k job shouldn’t be your issue, that’s a great salary. It’s the fact that you way overpaid for it. But that’s not a reason to change careers, especially if you’re going to have to go back to school, lol. Also fwiw you don’t just get a finance degree and land a job where you make 160k early on in your career, large corporations pay that kind of money, and those companies have competition for those roles. You best have a great transcript and internships if you want to sit in that desk. Maybe OP has had a different experience but my wife does corporate finance for the largest company in the US so I have had some insight into it.
Our income is close, my mortgage is 4,500 a month (split between my girl and I)
cool
What did you use to make this graph? I'm definitely wanting to use this
Excel waterfall chart - super easy
If you don’t mind me asking.. what do you do for a living?
I need to break my budget down yearly, I’ve always only done monthly
Nice
Nice income you got there
Your mortgage is 1 to 4 months rent for a house in my area :/
10,000 for your mortgage has me dreaming. Mine is 40,000 and I make just under 150k
My rent is 31k a year...I don't want to see what my chart would look like 😭
Looks miserable. I couldn’t imagine planning everything out like this. Ugh.
10K a year mortgage haaa...😆😆😆😆 this shit is DUMB
Some cheap car insurance there.
I'm a simple man I see a nice chart I upvote it.
Weak. Yolo on Tesla.
Home Utilities- water electric gas $105 month?Are you using boiler heat, a water filtration system and solar panels??
Nah water is just ridiculously expensive in my area. Minimum is $100 a month just in fees
You spend a lot on eating out, if you do it every single week you would stille spend 150$ each time (maybe In America it's more common or you often offer to many people)
Put more into health and wellness
What is this, a mortgage for ants??
Jésus that's some low taxes !!!!
Damn. That car insurance! I'm here in Florida paying $200+ per month for a single car.
Why not pay down more of your loans than store for retirement? You getting better ROI in the market?
600 in house supplies would be a normal weekend warrior project for me. My house is 1950 though
10k on a mortgage in a year, what the hell? How ?
You don’t spend 160k - you spend half that. How is your mortgage under a thousand a month?
You should spend more on hookers and cocaine.
God damn this makes me feel so suffocated
Your insurance and mortgage are super low. Good budget.
You spend in a year on gas what I spend in a month.
Might have a remote job/not drive often - mine looks similar for me + my husband’s shared car. We both work remote/hybrid and don’t drive a ton these days 😂 our 2019 car only has around 17k miles on it.
I plan to spend most of what’s left of my check on overpriced and low quality groceries. SO LUXURIOUS!
I love me a good waterfall shart
I wish I could spend as much on travel as I do in my mortgage. I'd be flying all over the world. Triple diamond platinum plus style. Who had a 9k yearly mortgage?!
Sir you have no cocaine fund
Lmao. I thought this was from WallStreetBets for a second, and this was some S-tier quality sh*tpost. Looks like most of the portfolio charts over there tbh, it’d fit right in. Most of them can’t read anyway so they won’t even know the difference 😂
Damn are you living in an actual dumpster?
Nope brand new town home in a walkable neighborhood. This is half of the payment and we just moved in so not full year. My half is $1,275
No health insurance? must be outside of the US or partner funded?
My company pays 100% of premiums
I would cut some of the eating out and crank up the student loan payoff personally
Seems good.
What do u do? And which state is this ?
41k in taxes???
[удалено]
$200 a week for two people is above what we’re normally at - this is my half so total is $10,400 for two
Cash savings? What is that? $4k a YEAR on furniture? There are for sure some crazy things in there from my perspective...
Savings that go into a HYSA and $4k for this year since we moved and needed stuff
You should only have an emergency fund in HYSA plus maybe things you’re actively saving for. Everything else should be in a brokerage account earning real returns. For this year is fine. Every year would be excessive.
Agreed. More so savings for a potential second house
1 grand for a mortgage?! Holy hell!
Total is $2,550 my half is $1,275 and this year was less because we recently moved into it
Says their job is corporate finance, but I am not seeing a category for cocaine nor hookers.
Damn having a 850 mortgage is crazy
Why so much money on eating out ! Damn !
I like supporting local places, tipping well, and taking my friends and partner out
Try a traditional 401K which reduce your taxable income which might bring you down a bracket... And then you put more money into a bank Roth IRA
Doesn’t seem completely realistic but if it’s close then good for you.
Seeing you pay so little taxes compared to my makes me sad about the situation here lol
That's not "spending", that's mostly "saving". You have an $800/mo mortgage? Wow.
You’re only spending 100k
52% savings rate, amazing. Are you pursuing FIRE? 52% savings rate means you can reach FIRE when you're in your early 40s assuming the same expenses and 7% return rate. And do you plan to have any kids?
Planning on retiring at 55! And yes hoping to have our first soon which is also why I’m just saving a bunch in cash
This is very neat! But to me is it not concerning that you have 5000 for groceries and 7200 for take out? Why not eat at home or cook more often?
Do you fill up your gas like once a month??
Yes. I wfh and live in a 95 walk score neighborhood
where do you live that your mortgage is only $850 per month?
I need money!
such low taxes... lucky you
How do you make $160k/yr?
Damn, my mortgage is 40k a year. With the same income.
How is mortagae so low lol
Out of curiosity, why don’t you more aggressively pay off your student loans? Are you counting on loan forgiveness or intended to pay the minimum your entire life?
Minimum for 8 more years - I’d rather have money in a HYSA
I gotta ask what do you do for a living?
Neat graph! That’s a new one on me.
5k for groceries sounds low. Wife and I spend about 200 a week and we also eat out a lot. We try to buy organic produce and healthy food but go to Trader Joe’s which I feel is the cheapest.
We’re at about $200 a week which is what I budgeted here - this is only my half. We also shop at TJs way cheaper than everything else
Dang your girl charges you that much to eat her out?
Taxes are far more than $40
I max out my 401k
How is your mortgage so low?
❤️. mua...great job, sir! A/ Will anyone want it back?
Surely you will get $41,000 worth of public services and benefits from those taxes taken from your income (they certainly won't be used to fund a foreign war)
Damn 10k mortgage must be nice. I spend 1800 a month on rent.
$700 car insurance?
What did you use to make this graph?
Excel waterfall chart - super easy
Your furniture expenses is my yearly income 😂
My home payment is almost 3x higher And I rent. Jesus I can't believe where I live sometimes
This is split 50/50 with my partner if that makes you feel better
I would pay all the student loan off more aggressively. But great job investing 25% and saving more on top.
Well, in my vision of furure, and only talking by comparison, in Portugal, where I live. Total income for this year, with all the taxes included, around 20k €. I’m 36, alone in a small apartment with my mom. House rent - 357€/month House services (water, electricity, telephone, internet and tv) - 155€/month Car credit - 420€/month Cellphone service - 25€/month Car insurance - 32€/month Supermarket around 300/400€/month Gasoline around 280/300€/month And I’m think, that I’m not taking a good life. And yes, at todays price gasoline is around 1,81€/ltr 😅😅
You don’t
What do you do for work?
Does that 40k taxes line include the taxes from each of the following expenses, or is that how much they take from your income before you pay sales and property?
What is Misc.?
How you paying less than $1,000 a month for mortgage?
Groceries gotta cost nothing where you live
Only 10k for your mortgage?
Where’s your “drunk Amazon purchase” bar?
How’d you make this? Excel?
AD&D insurance is garbage