re: Annual expenses for a college grad?

Just finished my first year out of college and the usual bills are the same, but I added 401k, Roth, Insurance to the mix.

So my monthly expenses are:

Rent/Utilities
Cable
Electricity
Cellphone
Car/Gas
Food/Credit Card

Honestly not much different than college so the big thing is to make a savings plan as soon as possible and stick to it. How much you need to live on comfortably is up to you. I do well in Houston as an engineer but I still have a roommate even though I could afford my own place.

eta: I read A Random Walk Down Wall Street and it is definitely a must read.

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Don't try to reason with Lnchbx. He's a fricking idiot.

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Says the guy that's sole purpose in life was to brag at his high school reunion.

These things will be the same as they are now though. Except possibly Health Insurance.

Even if your not paying them now, someone is. Ask your parents for the monthly bill associated with each and work it into your budget.

Do you have a job lined up?

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My expenses aren't very high at the moment, probably around 15k/yr. What scared me was the inclusion of new bills after college: Cell Phone Car insurance Health insurance Savings Etc Seems like that stuff adds up fast. 

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it does, it can be overwhelming starting out. A word of advice:

When you get your paycheck, before paying any bills, take at least 10% off the top to save and invest. Pay yourself first. Make it a habit. You'll be amazed what a difference this habit makes in your finances. My stepfather told me to do it when I got my first job at age 15, I waited till I was 24 to actually follow his advice, and I wish I go back in time and kick my 15 year old self in the arse.

No job yet, I plan on working on that diligently in the fall along with another internship. I have no clue where to start so ill be frequenting the career services center and counselors

I'd also search google for whatever your field will be, find companies in the area, and contact them directly.

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Having a roommate makes a huge difference as you can rent a nicer place and split the common utilities like cable, internet, electricity, etc..

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My last year of law school I was paying less than $400 a month rent, then I got a job and that became $850 a month with $140 cable bill and roughly $110 to $130 electric bill all on my own.

Moving to new apartment with the SO and even thought the rent is now $1500 a month my share drops to $750. Cable I renegotiated down to 115 which only half is mine and the electric bill should rise just a bit overall.

The savings should come out to 1,200 on rent and 1,050 cable per year. Adds up.

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I was reading Wealthy Barber, and they talk about saving 15%, and then talk about retirement saving. Should these be viewed as two separate things? I was kind of confused by that.

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15% is the goal (and eventually much more than that), but getting in the habit of saving a percentage of your paycheck before paying bills and buying toys is the most important. The behavior is more important than the percentage.

Definitely