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Can anyone shed some light on quant funds please? https://groww.in/mutual-funds/escorts-tax-plan-direct-growth I am seeing stellar returns and extremely low expense ratios but apparently since they're quantitatively managed algorithms, they don't account for things like corona for example.
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I personally spend ~4.5k/month for just myself including rent. Regarding whether you and your partner are spending too much, calculate your aggregate income and see what your savings rate (including investments) is today. Rule of thumb is to be saving at least 30% (most Americans do not hit this threshold). If you hit that threshold, ask yourself what you value most in life. Some people enjoy clubbing, fancy dinners, branded clothes, and luxury vacations while others rather value hole in the wall meals, backpacking trips, or a FIRE retirement at perhaps 35-40 and need to save 50-60%+ of their income. There is no right answer on how to live your life, but do what makes you happy. As long as you are hitting the 30%, who cares if your spend is high or low as long as you like the way you live.
Enthusiast
Yeah, same numbers for us as well except we have no car payments. We do pay to park our car in Manhattan though. Combined HHI ~$800K.
A little ashamed to say that my spouse and I spend ~$18K per month. In 2021 we spent $217K in total. To be fair, we do have a ton of wedding expenses so not a ‘normal’ year, but we still spend too much ongoing. HHI $700K.
NYC: 25% mortgage 25% travel incl. rideshare 15% food and dining 15% shopping 20% all other expenses
Chief
$60k. Might be bumping to $75k soon if I close on an apartment.
Chief
Just me. Live alone in a popular neighborhood so my rent is the same as yours.
Chief
I spend about 40k annually by myself. 1250 on rent and about 2k in all other expenses for the month
Chief
Ah so I don't have a car, so insurance for me totals about $100/month. I also don't spend that much on trips. I also don't go to therapy but if I did I'd try to get it free through my employer. Tbh most of the 2k is entertainment/clothes/food since I don't pay much in insurance or utilities or have any loans. I tend to try and keep my fixed costs low.
Same OP, just around 4k rent but rest hits it spot on
Thanks EYP!
How do you only spend $1k on food? Going out in a big city even only once a week can easily add up to $1k ($250 for 2 people dinner and drinks) and that’s before daily groceries and grabbing drinks with friends, etc. That’s a genuine question.
I personally have 2 different budgets for groceries vs eating out. For me, one's called "food" and the other is included in "entertainment". For the "food" part of it -- grocery stores -- to be fair that is one of those things that costs way more in, say, Manhattan vs elsewhere in the city. One of the big thing I missed after moving to Manhattan was the big suburban supermarket. Even just like a Shop-Rite or A&P (when that existed). The first couple of times I went around the local supermarket with my cart, when I picked each thing up and looked at the price, then put a few things down when I said to myself "eh, not at that price, I'll wait til it goes on sale or I'll get it at the other store", at the end of my trip I would up with like 3 things in my cart.
Chief
Yeah, we’re probably around there too (HHI ~$550k)
Conversation Starter
12k/month by myself which means I have to get creative for the last 2-3k or it’ll stay in the bank. Surprising how we don’t need as much TC as we think we do.
~100k in 2021 with 40% rent 30% food and drink 7% travel and entertainment 8% pet 15% everything else Thought I’d save a lot by minimizing travel but ended up spending more on pet and food. Single 30M Your budget is pretty decent, OP. 3k rent for two people in NYC won’t go too far.
Enthusiast
6K in rent, 8-10K in credit card expenses at least per month
How do you spend so much in credit card expenses?