Slashdot Mirror
A Breakdown of Your Monthly Budget?
"The purchase price of your home, car, or any other property would be relevant if you were to include an indication to where you were geographically, and how you felt it was in relation to the rest of the region. If you were to include the type of work you do I would group those accordingly. If you are part of a two (or more) income residence, handle that however you wish but make a note of it so I can better tweak the dataset.
With a decent dataset made available I would be willing to do some statistical analysis and make the charts / compiled data available for download.
If you are not already doing a breakdown along these lines it may be an eye opener for your own use (but share it here to help make the dataset larger, more accurate.)"
didn't we cover this topic last week?
keep track of your finances with software and get the big picture.
spend less on the things you are spending too much on. stop paying for things you don't need (you need all those cable channels? all those cell phone services? do you need a cell at all? are you paying fees for a gold card you never use? do you buy stuff like coffee and snacks througout the day? that shit adds up.)
try and put away a fixed percentage of your income every month.
eat out less, or not at all. learn to cook.
don't buy CDs, download them or "burn and return". learn to play an instrument.
cut up all your credit cards except one. Put that one in a block of ice in the freezer for emergencies. don't shop online unless you have equivalent cash in your wallet.
if you go out with your friends and spend a lot of money every time, find new friends (you'll have to do it anyway, since most people don't understand and they'll take it personally when you say you want to save money instead of going out).
live below your means. you'd be surprised at home much money you can save if you cut out unneccisary crap. you might have to change your lifestyle though, can you handle it?
- Mortage = $2950/month on my $400k loan. House in Massachusetts, just refinanced late last year.
- Car #1: $400/month, 2000 Volvo XC.
- Car #2: $200/month, leased Honda Accord
- Cell Phones: $80, T-Mobile family plan
- Comcast (cable+internet): $120 (includes movie channel package)
- Regular phone: $65 (Verizon)
- Electric : $80ish
- Oil heat: about 4 fillups a year, $350/per.
- Going out to eat: $150/month
- Food shopping: no budgeted amount but I can tell you I spent $400 in two visits over the past couple of weeks
- Student loans: none. Paid off when we got ahead on cash.
- Investments: $200/month into an SP index fund. Used to be $600, I cut back.
That's about all I can think of to itemize. Of course the last big budget item would go under "misc living expenses" and includes everything like special circumstances, travel/holidays/vacations, gifts, and so on, and usuaully ends up over $1500/month.Nothing special going into the baby's college yet, save for UPromise (loyalty program), holiday/relative money, and random transfers.
No special money going to retirement outside of the company 401k for both my wife and myself.
I'm pleased to say that we manage to keep an emergency savings fund of about $40k in the bank, too.
The purchase price of your home, car, or any other property would be relevant if you were to include an indication to where you were geographically, and how you felt it was in relation to the rest of the region. If you were to include the type of work you do I would group those accordingly. If you are part of a two (or more) income residence, handle that however you wish but make a note of it so I can better tweak the dataset.
And if you could also include your mother's maiden name and your social security number that would be great. kthxbye!
Well, lets get the ball rolling:
Per month:
$50 cigarettes
$70 gas/car stuff
$20 eating out
$470 food/grocery store type stuff
$120 Credit Card minimum payments
$90 Girlfriend's credit card minimums
$100 electric
$750 mortgage
$13 cell phone (emergency only 5 minutes free a month plan)
$45 Telco, 2 land lines
$150 Satellite, Starband Internet + TV
$50 school loan
Car insurance is about $1100 between myself and my girlfriend paid yearly.
Household is self/girlfriend/6 year old son
So yeah, I'm barely scraping by on my $36,000 a year job as a programmer/analyst. Most extra money goes to paying off credit cards, or for lawyer's fees relating to custody of my son.
My girlfriend is looking for work, she majored in hearing and speech disorders in college. I did not finish college, but I went for 4 years in CS/CIS.
Yes, I'm considering cutting back the satellite seriously.
State: Missouri
Profession: Low rung IT (helpdesk/support)
Age: 25
Gender: Male
Monthly post taxes income = ~$1700
(All costs in half since I live with my girlfriend (have fun calling me a liar or my girlfriend fat, kids))
Rent (house, not purchasing) = $350
Bills (including car insurance, electricity, gas, water, trash, cable, etc.) = $300
Car payment = $80
Car insurance = $110
Credit card/loan payments = $240 (picking off the last $2000 in debt)
Food = $100
Gas (car) = $80
Total monthly living costs: $1260
Where the rest of the money goes is a mystery, because I sure don't have it. Some goes to drinking/going out, some to computer parts when I get the urge. Medical insurance is $10 for full coverage pretax out of my check if you're interested.
Wait a year after a DVD comes out to buy it.
Never go to the movies.
Avoid eating out at all costs.
Buy in bulk.
Save Save Save.
Being single helps I guess but I have no pity for people who jump into marriage and kids and wonder (whine) about always being poor. With all major decisions in your life it takes planning.
Here's my breakdown - it's a rough average I use to keep track of things, it's usually accurate within 10-15% on the variable items:
26 years old, single, Houston, TX market
quality midsize 1 BR apt near downtown 900/mo.
Electric/Cable/Net 250/mo.
Food (some shopping, maj. eating out) 400/mo.
Entertainment (mostly means drinking, clubs, movies, etc - things I can cut back on in a financial pinch) 500/mo.
Transportation (car maintenance broken down, gas for a very short commute, bus fares, etc) $120/mo.
Total: $2170/mo, which is less than half my monthly take-home pay - the rest goes to one-off expenditures, toys, savings, emergencies, etc. You'll notice the distinct lack of a car payment, and that I prefer to rent instead of pay mortgage. I don't believe in America's Credit/Debt System at all - it's a tool to supress people into coming into line with what the goverment and major corporations want out of them. I own my car (it's not hard to buy a car outright even on a low budget - find a clean used car from an individual), and I won't buy a house till my savings/investments add up to being able to purchase it in cash, which may be never. I firmly believe this is the way to go, but my opinion is in the minority.
11*43+456^2
The idea is that you have a set of envelopes representing each budget category, then you allocate money to each category when you get paid. It's all pretty automated. The software is, unfortunately, somewhat rough around the edges sometimes, but it works (and is much better than Quicken/Mac). Support is great.
Also, you can find a budget categories calculator at http://www.crown.org/Tools/budgetguide.asp . While it is Christian-based, the categories are not really much different because of that. (Which, unfortunately, may say something about the kind of "Christianity" espoused.)
"He who would learn astronomy, and other recondite arts, let him go elsewhere. " -- John Calvin, commenting on Genesis 1
My monthly gross : $5200
...and an unspecified amount on food and small shiney objects. I guess about $250 - $300/wk.
:-)
Wife's gross : $ 3600
We pay $1550 / mo in rent, shortly to become the same in a mortgage payment. After taxes, 401K contributions ($800/mo combined), and regular expenses we each put away about $800/mo in savings, with a trivial amount of student loans.
No car payments - one car, fully owned.
$80/mo cellphones
$40/mo landline (local and LD)
$100/mo cable and internet
$60/mo electricity
$80/mo gas (heat and cooking)
$21/mo Netflix!
$10/mo ReplayTV
$180/mo home and car insurance
Health insurance is cheap because one of us works for a local healthcare provider.
Income : $5200/mo (gross)
Taxes : $1500
Health Insurance : $150
Take home : $3550
Car Payment : 0
Car Repairs : $200 average
Car Insurance : $100
House Payment : $1200
Child Support : $400
Gas : $40
Eating Out : $400
Groceries : $400
Computer Toys : $250
Electric : $60
Gas : $80
Water : $80
Cell Phone $50
Land Line : $65
Cable : $50
CableModem : $50
Savings/401(k) : $0
Not sure where the rest of it goes.
(Oh, and to make you feel even better about my job - I have two weeks at Christmas, a week for spring break, and two months off every summer).
That sounds like a highschool student, except the "my job provides my housing, my food, my utilities, and my Internet access" bit.
What are you, like the sysadmin for a strange highschool that allows you to live at the school? That's about the only thing I can think of that fits the description.
Oh, and as for what to do with your money -- give it to me, of course.
I live in Portland... I have a one bedroom apartment in the middle of nowhere.
I don't like Portland either, but I wouldn't call it nowhere. I suppose it could just be an appartment in the middle of nowhere, not in Portland. In which case, you should probably consider getting rid of it.
Don't blame me, I get all my opinions from my Ouija board.
Job: Systems Programmer
Age: 24
Salary = About $5000 gross/month
Rent: 700
Car: 350
Car2: Done
Renter & Auto Insurance $150 (lead foot)
Utilities: $75
Phone: $35
Cellphone: $45
Cable/Internet: $90
Gas: $200
Food: $400
Conformity is the jailer of freedom and enemy of growth. -JFK
Here's a breakdown of my costs, just for fun. Keeping in mind I'm a student, my prices are pretty irrelevant, so I'll throw in some other costs from other places. All prices are in Canadian dollars, because I'm lazy and sleepy. All costs are shared with roommate except where specified.
Fredericton, New Brunswick
Compared to other places in Fredericton, I'm really getting shafted - $130/mo for heat is absurd when half the places in town include it, as is $600 for a two-bedroom when I could rent a one-bedroom all-included for $300. That being said, I can go from my front door to my furthest class last semester within fifteen minutes, which means I can get up a half hour before class starts, shower, eat, and still be on time, though out of breath. That's really what I'm paying for. Oh, and the hardwood floors, quiet neighbourhood, etc. I'm not paying for the extremely small hot water tank though. I don't pay for transit because I can't afford a car, and public transit isn't worth paying for.
I lived in Montreal with a friend of mine, but lost my job whle I was on vacation, denying me the satisfaction of quitting when I got back. We did a lot of exploring the city, but there's a lot of things to do in Montreal without spending money. Eating, however, is not one of those things.
Montreal, Quebec
As for how this compares to other options in Montreal, as near as I could tell, it's fairly standard, give or take a hundred or two dollars, but keep in mind this is downtown Montreal we're talking about, not the West Island or anything like that.
I still recall most of my parents' finances when they lived in BC. Most notable is their place in Mission, rather expensive; nice, but you pay for it, and a bitch to heat.
Mission, British Columbia
Mission is a small town about 20 minutes from Surrey, BC, making Vancouver rather accessible. Still, it's a small town, built into a hill pretty much, with only one Tim Hortons, one
Well now. Let's see here.
Currently, I work part-time in a damn BOWLOING ALLEY, because it's the only thing I could find right now. Anyway, I make about 400$/month after taxes. My wife makes about 1000$/month after taxes. Yep, we only net 1400$/month.
Anyway, the bills.
Rent: (2 bedroom apartment) 400$
Car: 275$
Car+Renter Insur.: 50$
Phone: Free (She works for the phone company)
1.5MBit SDSL: 9$ (See above)
Cable: 50$
Gas: 50$
Electricity: 75$
Food: 300$
Car2: 0$ (Repoed)
Credit Cards: 0$ (Closed due to nonpayment)
Misc: Everything that's left, about 200$.
Back in 2001, when I was last gainfully employed in my chosen field (IT) I was living it up. I made real good money, and spent it as fast as I got it. I had gotten used to an excessive lifestyle, got stupid. Digital cable + Satellite TV. Cable Modem AND DSL. A lot of money went out that I should of saved.
When the door closed on me, and I got laid off (I built an application and system monitoring system for 7500 servers, and when that was done, I was useless) it was a major shock to me. I had never thought that "it" would happen to me. That'd I'd be one of those unemployed people.
At first I turned my nose up at any job that paid less then 65k a year, now I'm in line for a possible tech support job that pays 15$/hr, and I'm willing, nay, HAPPY, if I actually get it.
Hell, I even decided to *gasp* go to college and get a degree or two and work on some certs.
I jumped on that Dot.Com wave and rode it like there was no tomorrow and no end. Chicago, Dallas, LA, Philly, I went where the money went.
Boy, do I ever regret it. I regret not going to college in the first place, and now here I am. Basically unemployed, preparing to file bankruptcy, 26, with a wealth of knowledge but no paper to prove it.
You live and learn though, I suppose.
And I'm waiting for the help desk job with bated breath. heh.
Looking for hardware (Currently need: Large Etch-a-Sketch) Have one? See my journal!
I work part-time with an hourly wage of $13.75/hour. After taxes, this comes out to a net income of about $680/month.
Expenses (/month)
Rent: $370
Food: ~$100
Utilities, cable, internet: ~$50 (I live with 4 room mates)
Cell: $45
And then there are miscellaneous things, like CDRW media and what have you. Occasionally I have to pay something huge, like tuition, or I get a nice tax refund or something, but I'm pretty much breaking even right now.
I used to bulls-eye womp-rats in my pants
Age: 32
Marital status: Married
Children: 2 (4yrs + 0.5yrs)
Job: Application SE
Income: $US7700/month before taxes (for last year; it should be 5-10% higher this year)
Expenses:
Taxes: $US1300/month
Rent: $US700/month (3-room aptmnt, 62m^2)
Car insurance: $US60/month
Life insurance: $US120/month
Telephone: $US40/month
ADSL: $US40/month
Food+clothes+staples: $US1000/month (Lumped together b/c that's what I give my wife)
'Toys': Depends, but ~$300/month is normal
Drinking: ~$US100/month
Misc: ~$US200/month
-----
Total expenses: ~$3860/month
I save the rest. We're planning on buying a house, but it looks like it'll cost us around $US450K.
I'd be really careful about filing bankruptcy in your situation. Since your credit is probably just as fucked already, it might seem you should just wipe the slate clean. However, if you're still considering college, you might not be able to get college loans. If you can at all you'll need a co-signer, and you'll pay around 10% interest, instead of less than half that like everyone else these days.
I found this out the hard way. I could throttle the person who gave me some bad advice -- when I was exploring the bankruptcy option, I went to the financial aid office at the school I planned to return to (Cal Poly), in order to discuss the effects of bankruptcy on getting aid. No problem, she told me. I prodded and asked every question I could. She insisted there would be no problem at all.
Well, a couple of years later, I'm still unemployed, with a huge SallieMae loan at 9-something percent, and my mom's house on the line (which is her whole retirement). I get by, but the situation isn't pretty.
If I were you, I would do everything I could to avoid a bankruptcy now -- unless you have some other way of paying for school -- parents, etc. But if you can get help paying for school, you might be able to get help paying your bills now, too. It's better to be a dependent loser than to create some potentially huge, long-term problems for yourself.
I might have taken an entirely different course had that financial aid woman given me the right information. I'm not sure what I would have done, but I don't think I would have done a Ch. 7.
The bottom line is, whatever course you take, get some really good advice first. Find a good lawyer -- one who knows the landscape of bankruptcy court. If your case is simple, it will only be a few hundred dollars, well spent. Talk to a financial planner. Figure out what your college plans are. In short, come up with a long term plan, set some goals, and find out *exactly* what you need to do to achieve them.
Finally, don't go bankrupt for a few thousand bucks. That's just silly. Get a Greyhound ticket to a resort area, wait tables and sleep on the beach if you have to, but but don't do *that.* The saddest, stupidest thing I saw in bankruptcy court was some poor slob who did it for $700.
My advice, Save every fucking penny.
I'm single and work fulltime and have a ton of useless money left over after each month....what do I do with it...I put some in RRSP
because I know eventually I will need it.
like the end of next month for instance when I quit my job.
It Pays to think ahead
--meh--
...for the part where you suggested he steal stuff: Don't buy CDs, download them or "burn and return"
Yes, the RIAA is completely out-of-line in its attempts to abolish fair use, and treat all its customers as criminals. None-the-less, what you suggest is not fair use by any stretch of the imagination.
How about this suggestion instead:
Unless your student loans are at some rediculousely low interest rate( like 2%), you should consider accelerating the rate at which you are paying them off. With the economy like it is, eliminating expensive debt is usually of more benefit than earning crappy interest...
Nerd rage is the funniest rage.