Have a $115k base salary, moving to Minneapolis. Expenses total 2.5k/mo, and budgeting about 1.5k/mo for rent. Is this reasonable/too much/too little?

likefunny
Posting as :
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You seriously can’t figure this out on your own? This shouldn’t be a question you need to ask others…

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If you can’t help did you really need to reply with that negativity? Really think about what you wrote and what value it provided to your day that you had be so negative.

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I pay almost $1500 a month in rent on an $82k salary (HCOL). You’re fine

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OP - my personal rule is always save >50% of gross income

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Rich people take loans to avoid tax and invest. Poor people take loans to finance lifestyle and things they can’t afford. If you can’t afford a school, go to community college then state university. I took that route and I’m making more than my ivy league colleagues.

likefunny

So in total you’ll be spending $4k/mo? I think that’s reasonable. You should still be able to toss $1k into savings/mo and contribute a healthy amount to retirement. I haven’t computed the post-tax income so fact check me on that.

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Yea, then that works out perfect. Watch your spend where you can, try to pay for things like vacations and splurges from that $2500 expense pile.

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I also make $115k. My monthly income is around $5,600 after taxes, healthcare, and retirement. You probably have a bit more $$$ to work with. I'd recommend putting some money into savings.

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Expenses include your rent right… bc if not then you’re basically working to live and not building wealth

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