Share your budget with The Coli

[Controversy]

COVID Budget

30% - Mortgage & Utilities
25% - Savings & Investments
20% - Debt
11% - Auto (lease, gas & insurance)
6% - Groceries
2% - Cellphone
2% - Entertainment
2% - Misc.
1% - Liquor
1% - Fast Food

 

[ViShawn]

I don't have a budget but I put 10% in savings, 8% in my 401k, 5% or so in my HSA and use the rest.

If I get a bonus I will put half it in savings. Also I get stocks which account for around 25% of my total compensation so I use reinvest that.

 

[winb83]

I don't have a budget but I put 10% in savings, 8% in my 401k, 5% or so in my HSA and use the rest.

If I get a bonus I will put half it in savings. Also I get stocks which account for around 25% of my total compensation so I use reinvest that.

Why put 8% in a 401K? My company matches 6% so I put in 6% they also give an additional 3% in a different investment account. Pretty much adds up to 15% retirement savings that only cost me 6% of my pre-tax income.

 

[ViShawn]

Why put 8% in a 401K? My company matches 6% so I put in 6% they also give an additional 3% in a different investment account. Pretty much adds up to 15% retirement savings that only cost me 6% of my pre-tax income.

Good point there. I could shave off 1-2% and reallocate it somewhere else but I think my 401k (pre-COVID) yielded good returns.

 

[1thouwow]

I need about $4500 a month to be comfy.

I put in 1300, wifey puts in 1300, and we get about 1700 from rental income.


We each keep the rest of our pay to save and do whatever. So normally that's like another 1000

Where do you have property at

 

[OfTheCross]

Where do you have property at

Miami

 

[1thouwow]

Miami

The rental property market is booming there?

 

[OfTheCross]

The rental property market is booming there?

not really. shyt is super expensive to purchase. the profit ain't gon be there for landlords. a lot of people I know are flipping. but even that's too high, imo

 

[1thouwow]

not really. shyt is super expensive to purchase. the profit ain't gon be there for landlords. a lot of people I know are flipping. but even that's too high, imo

They start gentrifying? Where all the broke ppl and immigrants staying at then?

 

[OfTheCross]

They start gentrifying? Where all the broke ppl and immigrants staying at then?

Broke ppl shacked up with multiple family members and living in efficiencies or shytty apartments

 

[Macallik86]

Nothing major over the last 3 months. I did start going out again for drinks/dates which has started to add up. My Investments have technically remained static, but my Savings account cushion was eaten into. Not earning 5% on the first $1,500 because I dipped into the $$$ to pay my larger than normal CC bill.

COVID 2020 update
I averaged April + May & updated my budget:

* I included my company match in my savings this time around so there is an additional bump compared to prior budgets

 

[Macallik86]

Came across this on Reddit today:


He dropped a link to his spreadsheet if anyone wants to copy it:

 

[Skooby]

Came across this on Reddit today:


He dropped a link to his spreadsheet if anyone wants to copy it:

Thanks. I'm going to start January 1st.

 

[MR. SNIFLES]

RENT=30%

Came across this on Reddit today:


He dropped a link to his spreadsheet if anyone wants to copy it:

GOOD FIND. GONNA GIVE THIS A SPIN STARTING NEXT WEEK.

 

[iceberg_is_on_fire]

RENT=30%


GOOD FIND. GONNA GIVE THIS A SPIN STARTING NEXT WEEK.

This has me curious where I land.

I don't have car notes since I paid them off. My mortgage is roughly 11% of my monthly expenses. I'm looking at finances after tax with that. What my family needs to live isn't that much. I'm going to increase my retirement savings this year.