=$105 / month left for eating out, emergency savings, hobbies, car payment, gas, clothes, medical bills, haircuts, household supplies, parking meter costs, tickets, laundry quarters, hawaii car safety check, hawaii registration, annual costco membership and everything else. $500 / month for groceries (costco, walmart, etc.) $400 / month for internet, phone, electric (thanks HECO) $1,500 / month studio apartment (average prices in Oahu on craigslist) community laundry and maybe a parking stall in a 3 story unsecured walk up building with free roaches 12 month lease $500 / month ( traditional IRA contributions 6k per year) $1,708 / month (Traditional 401k pre tax 20500 per year) Roommates of course could help but it wont really take too much pressure off but that really makes it difficult to have your own place with your own stuff and provide a safe place for mental well being.Ĩ0k Annual Income = $4788 / month after tax That is a very long winded way of saying if you make smart choices, you’ll be fine. If I pay off all my credit card debt, my monthly expenses will drop by $750 dollars and will put $9000 a year back into my pocket which half would go towards investing in retirement/401K. I get gas probably twice a week and even with going to Costco runs me $75 a tank, twice a week for $150 times 52 weeks is $4800 for $40.2K left to play with.įood budget is mostly groceries with a stop through a drive thru or a decent ramen shop once or twice a week so let’s call that roughly $400 a month for another $4800 over a year, I’m now down to $35.4K.įactor in tax at approximately 30 percent of my original $90K a year (this is before I deduct any expenses), is $27K which leaves me with $8,400 to do whatever I want or $175 bucks a week which ostensibly means not really a lot of wiggle room. My monthly nut which only covers credit card payments and other bills including cell phone and car payment is $2K or $24K which now gives me $48K. My rent is $1350 for a 1 bedroom, utilities are just around $150, so keeping a functioning roof over my head is $1500 a month or $18K per year. I work 2 jobs and make $45K pre-tax salary and do Uber as a night hustle and make roughly $45K a year doing that pre-expenses. I also have an obnoxiously large car payment because I was an idiot and thought I was untouchable. I made my fair share of oooh I’ll put that on my credit card and pay it off right away and never did moments in life which I’m paying for. Don’t need anyone to lecture me on my mistakes either. I’ll throw in my two cents and get a little more personal than I’d like.
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