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Started By
Message
re: Break it down - your finances
Posted on 4/27/15 at 9:49 pm to STLhog
Posted on 4/27/15 at 9:49 pm to STLhog
quote:
Would be interesting to see professions.
Some of these ages and numbers seem frickin ridiculous.
You have to take into consideration that TDings already skews much higher with people with college degrees and the MTB probably skews even higher with education and/or licenses.
For example, relatively straightforward for a guy to be 25, worked at a CPA firm for the past 3-4 years, gotten a promotion and a few salary bumps putting him in the solid mid 60s or low 70s. Yes, this is a lot relative to the average population but quite attainable.
1
Posted on 4/27/15 at 9:50 pm to LSUTOM07
32 Single-no kids
~ $4300- Net/Mo. after $252/mo 401k + including some rental income
$1580 mortgage
$200 on auto (insurance & gas) car paid for
$400 for house utilities including some from rental + cell phone
$700 entertainment: restaurant and bars
$458 Roth
$150 Short term savings
$200 HELOC only $2k left
Rest usually to brokerage or extra on HELOC
~ $4300- Net/Mo. after $252/mo 401k + including some rental income
$1580 mortgage
$200 on auto (insurance & gas) car paid for
$400 for house utilities including some from rental + cell phone
$700 entertainment: restaurant and bars
$458 Roth
$150 Short term savings
$200 HELOC only $2k left
Rest usually to brokerage or extra on HELOC
Posted on 4/27/15 at 10:23 pm to STLhog
quote:
Some of these ages and numbers seem frickin ridiculous.
Exactly. The majority of the posters in this thread are the minority income earners.
Me and my wife have a combined net income of $8177. I'm 24, she's 22. She's a dental hygienist and I'm an officer in the Army. Our net ceiling for our career will probably be $12-$13k and that's when we're pushing late 30's.
This post was edited on 4/28/15 at 8:06 am
Posted on 4/27/15 at 10:26 pm to lynxcat
quote:
You should pay off the Citi card before investing unless it is as 0%.
It's 0% and I will pay it off 3-4 months early.
I've reduced my credit utilization from 35% to around 10% since October :insert dancing bananas:
This post was edited on 4/27/15 at 10:28 pm
Posted on 4/28/15 at 6:01 am to 13SaintTiger
You also have to consider that people are more likely to post if they are doing well financially. This isn't as glaring on the money board as it is on the OT, but it still exists. I'll admit that I probably wouldn't be as quick to post my info if I wasn't happy with where I was financially. I'd still probably do it because I like the info here, but I can see how that skews the numbers.
Posted on 4/28/15 at 7:29 am to KG6
quote:
You also have to consider that people are more likely to post if they are doing well financially. This isn't as glaring on the money board as it is on the OT, but it still exists. I'll admit that I probably wouldn't be as quick to post my info if I wasn't happy with where I was financially. I'd still probably do it because I like the info here, but I can see how that skews the numbers.
Agreed, I don't really care if people on the internet know what I do or make. I don't get the secrecy of that anyway. My wife and I both do our best at our jobs, and support our family the way we see fit. Whether we do that on 50k a year or 125k a year shouldn't matter.
Posted on 4/28/15 at 7:43 am to JonaYolles
40
Take home 12k
Mortgage - 2177
HOA - $130
Car - $414 (27 months)
Club dues - $400
Nanny 2x week - $800
Utilities & Cell - $600-$700
Mothers Day Out x2 - $400
Monthly Living expenses - $2000
Just broke $300k in IRA. We always keep around 50k in our checking account. Once we cut nanny and Mother's Day out program will have extra 15k/yr
Take home 12k
Mortgage - 2177
HOA - $130
Car - $414 (27 months)
Club dues - $400
Nanny 2x week - $800
Utilities & Cell - $600-$700
Mothers Day Out x2 - $400
Monthly Living expenses - $2000
Just broke $300k in IRA. We always keep around 50k in our checking account. Once we cut nanny and Mother's Day out program will have extra 15k/yr
Posted on 4/28/15 at 8:34 am to JonaYolles
I thought I was doing alright financially until I read this thread. I now know I am a peasant.
Posted on 4/28/15 at 8:50 am to JonaYolles
24 and single.
Gross - $5,600/month
401k - $560/month
(Take home is ~$3600/month after 401k and taxes)
Roth - $450/month (maxed)
Rent/Utilities - $1000/month
Other bills (car insurance, phone, gym, etc.) - $300/month
Grocery, gas, etc - $700-$800ish
The rest goes into my savings - ~$1000-$1200
I'm trying to eat out less and cook more to bring down some of those expenses, and I'm getting rid of my gym membership in a few months as well.
Gross - $5,600/month
401k - $560/month
(Take home is ~$3600/month after 401k and taxes)
Roth - $450/month (maxed)
Rent/Utilities - $1000/month
Other bills (car insurance, phone, gym, etc.) - $300/month
Grocery, gas, etc - $700-$800ish
The rest goes into my savings - ~$1000-$1200
I'm trying to eat out less and cook more to bring down some of those expenses, and I'm getting rid of my gym membership in a few months as well.
This post was edited on 4/28/15 at 8:52 am
Posted on 4/28/15 at 8:51 am to lynxcat
I realize this.
I'm 26 and work for a CPG and thought I got paid pretty well. Maybe taxes just suck arse here in ghetto STL but I net a lot less than what some of these guys are saying.
Are people confusing net and gross per month?
Some of the "nets" seem super high for the younger crowd.
I'm 26 and work for a CPG and thought I got paid pretty well. Maybe taxes just suck arse here in ghetto STL but I net a lot less than what some of these guys are saying.
Are people confusing net and gross per month?
Some of the "nets" seem super high for the younger crowd.
This post was edited on 4/28/15 at 8:52 am
Posted on 4/28/15 at 8:52 am to OneMoreTime
quote:
24 and single.
Gross - $5,600/month
Profession if you don't mind me asking?
Posted on 4/28/15 at 8:55 am to STLhog
quote:
Some of the "nets" seem super high for the younger crowd.
People aren't including retirement in the net, but they're coming out and saying retirement contributions, so it's a wash.
Honestly, I've been a poster on the MT for awhile, and usually it's pretty obvious I make on the low end of the spectrum.
I think of it like this: If you sampled hockey knowledge from average Americans, they'd have no idea what you're talking about. If you sampled hockey knowledge from a Boston Bruins playoff arena, you'd have a much higher rate of understanding of the game.
A la most people that come here have a higher understanding of wealth and money.
This post was edited on 4/28/15 at 8:59 am
Posted on 4/28/15 at 8:57 am to STLhog
Mechanical engineer.
Posted on 4/28/15 at 8:57 am to STLhog
Yeah, some of the net values seem high. To be honest, I don't really know off hand what I "net". I know what I take home, but that's after 401k, health/life insurance, ESPP, and other things that are actually personal expenses and savings. So technically it's money that should go into the "net" column and then be listed as an expense. I do know that I get less than half of what is listed on the top of my paycheck deposited into our checking account. It's depressing 
Posted on 4/28/15 at 9:00 am to KG6
I don't spend shite on clothes, hardly use my ccs, have a low car payment etc etc and still feel like I don't have enough free flowing cash to be comfortable.
Whenever people ask me what I miss most about being young?
"not paying for shite"
For those that are in the 28-35 range and have gotten a few of those "raises", do things get more comfortable? I feel like I'm busting my arse in what I thought was a damn good job, living in a super low cost city and still feel like im treading water sometimes.
Whenever people ask me what I miss most about being young?
"not paying for shite"
For those that are in the 28-35 range and have gotten a few of those "raises", do things get more comfortable? I feel like I'm busting my arse in what I thought was a damn good job, living in a super low cost city and still feel like im treading water sometimes.
This post was edited on 4/28/15 at 9:01 am
Posted on 4/28/15 at 9:01 am to KG6
I know the feel
My take home is over half but not as much as I'd like
I guess I could always put less in my 401k to change that if I wanted to
My take home is over half but not as much as I'd like
I guess I could always put less in my 401k to change that if I wanted to
Posted on 4/28/15 at 9:01 am to geauxbears08
quote:Maybe I should make a new thread about this, but I'll ask here. Currently I have about $12k in my savings, which I'll be building up to buy a house within the next year or 2. What would be my best option for building up this money? I know savings isn't the best, I just don't really know what to do with it.
I know a lot of people keep a large amount in a "rainy day fund" which is a good thing. But I hate pocketing 88 cents of interest every month when that money could be better invested. So I only keep about $3K in cash and invest the rest. I can't imagine a scenario where I would need more than $3K without at least a week's notice.
This post was edited on 4/28/15 at 9:02 am
Posted on 4/28/15 at 9:02 am to STLhog
quote:
Would be interesting to see professions.
30 single, no kids
CAD monkey, no degree.
Gross 8k
Mortgage $900
Utilites $200
Truck note $600
Insurance $200
401k 6% (company match)
Fuel $250
Phone $50
Savings $1200
I eat and play with the rest.
Posted on 4/28/15 at 9:09 am to STLhog
31 married, 1 kid.
Our net (after insurance, 401K, HSA) is roughly 60% of our gross. $800/mo goes into 401K, $415K goes into kid's HSA so we get the full $5K back at end of year.
Going through my mint budgets:
Mortgage - $2,000
Utilities - $300
Auto insurance - $230
Gas - $150
Student loan - $250
Auto - $220
Groceries - $500
Restaurants/Bars - $400
Gym for both - $100
Childcare - $ 850
Wife slush fund (mostly clothes/shopping) - $350
My slush fund (mostly golf) - $350
Usually have $1200-1500 leftover that goes into stock market.
Our net (after insurance, 401K, HSA) is roughly 60% of our gross. $800/mo goes into 401K, $415K goes into kid's HSA so we get the full $5K back at end of year.
Going through my mint budgets:
Mortgage - $2,000
Utilities - $300
Auto insurance - $230
Gas - $150
Student loan - $250
Auto - $220
Groceries - $500
Restaurants/Bars - $400
Gym for both - $100
Childcare - $ 850
Wife slush fund (mostly clothes/shopping) - $350
My slush fund (mostly golf) - $350
Usually have $1200-1500 leftover that goes into stock market.
Posted on 4/28/15 at 9:19 am to JonaYolles
27, married, no kids
Net-$6100/month
Rent-$1200
Retirement-$575
Health Ins-$130
Vehicle-$520 (including insurance)
Utilities-$150
Savings-$1400
Phone-$175
Cable/Internet-$130
CC-$200
The remaining ~$1500 is split between groceries, dining out, gas and Misc.
Net-$6100/month
Rent-$1200
Retirement-$575
Health Ins-$130
Vehicle-$520 (including insurance)
Utilities-$150
Savings-$1400
Phone-$175
Cable/Internet-$130
CC-$200
The remaining ~$1500 is split between groceries, dining out, gas and Misc.
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