Related Posts
Can you still make money off of crypto?
More Posts
Looking for some book recommendations :)
Bowl Leader
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
Sign Up to see all discussions
- Discover what it’s like to work at companies from real professionals
- Get candid advice from people in your field in a safe space
- Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.
"" is an unusual email domain. If correct, please proceed to the next step
Messaging rates may apply
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
New to Fishbowl?
Download the Fishbowl app to unlock all discussions on Fishbowl.
Share
Embed this post
Copy and paste embed code on your site
Preview
Download the
Fishbowl app
Scan your QR code to download
Fishbowl app on your mobile
Sign up for free to view this conversation on Fishbowl
Sign up for free to continue using Fishbowl
Messaging rates may apply
Do you have a budget and track all your expenses? If not that's the problem
I live in KCK, either you have crazy consumer debt or you’re just in need of a budget. I save a lot with a similar salary.
When I made 75K and lived in Los Angeles, I still saved some. That was about 5 years ago. I agree w everyone else, you need to budget.
I’m now in KC too but making triple that. Hey, I wonder if we’re neighbors 😉
I declared chapter 7 making 85k in 2014, mid size city. It just all depends on what expenses you have. My medical costs for the family were brutal back then.
The best thing you can do is “pay yourself first”. As soon as you get your paycheck, put aside a small amount into savings. Once you get to a 3 month expense cushion, start investing the amount in broad based indexes.
Better than setting it aside each paycheck, automate it.
You got an approx budget breakdown? Without any further info, we can’t really give you any advice/feedback.
It's more common than not for people to spend every bit of what they make, and then once you get accustomed to living a certain way, it becomes very difficult to see anything as overspending. We tell ourselves that this is the life that we deserve to the point that finding cheaper housing, downgrading the car, or eating out less becomes unfathomable.
Track all of your spending month to month, and you'll be able to see what is actually required spending (utilities, rent/mortgage), and you should cut back on everything else if you aren't putting enough towards retirement. This new life, although likely less "fun," is the life that you can actually afford.
FWIW I make 4x what you and still fall into the trap of thinking I don't make enough. With the prevalence of social media, it's all too easy to find people who are living the life that we think we deserve. I made whsyou male at one point, and as the income increased, so did the family responsibilities, mortgage, and vacation budget.
75k after tax or pre tax?
If pre tax, then might need to consider finding new job. Not in this economy sir..