What percentage of your income is expenses?

[Jumpem]

For example, what part of it do you spend on monthly expenses and gas, food, etc? And what is left over for spending?

 

[SmoochyTX]

I live rent-free under the I-10 bridge and get free wireless from the truckstop a hundred feet away.

I spend my money buying Sharpies to write my signs on cardboard that I get for free from the Kroger's located 2 blocks down. Occasionally we treat ourselves to a meal at Waffle House.

Does that answer your question?

 

[voodoochylde]

Expenses for rent, insurance, car payment, etc - precisely $0 ... ahh, the joys of livin' with mom 'n' dad

Expenses for car audio equipment, cigarettes, junk food, computer parts, etc - precisely 100% of my income...maybe a bit more

 

[TwiceOver]

Too much of my money goes to expenses. I am trying to cut back currently.

 

[TwinkleToes77]

i think about 50% goes to expenses, which leaves about 3500 left afterwards per month.

 

[Jumpem]

I'm going to be making about $2900 a month after 401k and taxes at my new job. My monthly expenses are going to be around $2200. That doesn't leave alot left over. Rent is expensive.

 

[new2AMD]

Originally posted by: Jumpem
I'm going to be making about $2900 a month after 401k and taxes at my new job. My monthly expenses are going to be around $2200. That doesn't leave alot left over. Rent is expensive.

You renting in the city?

 

[Jumpem]

Originally posted by: new2AMD
You renting in the city?

I looked a townhouse to the southwest of Syracuse. It's $905 a month. I'm being a little picky since I want a washer/dryer hookup and a garage.

 

[jjones]

Less than half.

 

[edro]

Rent, bills, food... = 80%

 

[shenaniganz]

120% Actually I'd say around 70% (after taxes are taken out).
I thought I heard somewhere that the average American's debt to income ratio is greater than 1.

 

[ggnl]

Probably about 50% of our income goes to recurring expenses, which leaves about $1000 disposable income. Unplanned and non-recurring expenses usually take $200-400 of that. What's left over is promptly wasted on eating out, computer parts, and an endless cycle of home decorating.

 

[artikk]

125%

 

[new2AMD]

Originally posted by: Jumpem

Originally posted by: new2AMD
You renting in the city?

I looked a townhouse to the southwest of Syracuse. It's $905 a month. I'm being a little picky since I want a washer/dryer hookup and a garage.

with the rates where they are now...you really should consider buying a house.

 

[Jumpem]

Originally posted by: new2AMD
with the rates where they are now...you really should consider buying a house.

I've considered it, but I'm just finishing up college. I can't swing a 20% downpayment, even on a $100-125k house.

 

[Jumpem]

Originally posted by: new2AMD
with the rates where they are now...you really should consider buying a house.

If you have any ideas, or are familiar with the process PM me.

 

[Adica]

99.999999999% I'm hungry.

 

[Wozster]

45% Cost of living expenses
05% Goes to slush fund (electronics )
50% Gets invested/Saved

 

[Jumpem]

Originally posted by: Wozster
45% Cost of living expenses
05% Goes to slush fund (electronics )
50% Gets invested/Saved

Nice! You either live with mom and dad, or make a good chunk.

 

[Wozster]

Originally posted by: Jumpem

Originally posted by: Wozster
45% Cost of living expenses
05% Goes to slush fund (electronics )
50% Gets invested/Saved

Nice! You either live with mom and dad, or make a good chunk.

Low rent, both cars paid off, no credit card debt, modest lifestyle, no wife (got rid of that problem), no kids.

Making a decent salary doesn't hurt either.
This will all change dramatically soon because I plan on buying a house and replacing all my furniture.

 

[Jumpem]

Does it make sense for someone with a $50k salary, and putting 10% in a 401k, to only have $700 or so left after monthly expenses?

 

[pmoa]

Originally posted by: Jumpem

Originally posted by: new2AMD
You renting in the city?

I looked a townhouse to the southwest of Syracuse. It's $905 a month. I'm being a little picky since I want a washer/dryer hookup and a garage.

i lived in syracuse....and its pretty cheap to live there...

 

[rmrf]

Originally posted by: Jumpem

Originally posted by: new2AMD
with the rates where they are now...you really should consider buying a house.

I've considered it, but I'm just finishing up college. I can't swing a 20% downpayment, even on a $100-125k house.

you could get an 80-15-5 loan. then, on a 125k house, you would only have to come up with ~7k plus closing costs.

 

[Jumpem]

Originally posted by: pmoa
i lived in syracuse....and its pretty cheap to live there...

Everything with a washer/dryer and garage is $900-1100.

 

[Dunbar]

Originally posted by: Jumpem
Does it make sense for someone with a $50k salary, and putting 10% in a 401k, to only have $700 or so left after monthly expenses?

Depends on where you live (ie., how much rent you pay.) I am in the same boat and end up with less than that after expenses in SoCal. But I include every recurring expense in my figure (contacts, gas, insurance, health club etc.) I aim to have $100 a week left to cover entertainment, vacation and "stuff". My rent is $1235 a month which takes a big bite out of take home pay.