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When was the last time you went outside and why?
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Rising Star
Rising Star
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I’m making $140k spending just under $3k on rent and putting 11% into 401k, 15% into company stock, and then mostly breaking even otherwise, maybe saving a few additional grand per year. I lived at home for a few years out of college (thx Covid) which helped me build a strong investment nest egg (on top of 401k/company stock).
I previously had 401k maxed too and then Accenture did no raises at level this year, so I had to decrease it to give myself a raise 😅 it was too late to change my ESPP amount once I got the news, so temporarily have 401k lowered.
Pro
Why would you prioritize rent over a liquid emergency fund? An emergency fund is freedom- it means you can leave, pivot, or face life stuff with a huge weight off.
I’d slice 700+ off rent and put it there.
Making 130k without kids and not saving besides retirement/long term is painting yourself into a corner. Makes no sense.
Pro
We all have our non-negotiables. Roommates, amenities, being in Manhattan, a longer commute, weigh those against savings and lifestyle creep.
Same $ as you. My rent is 3k.
I’m saving about 1.5-2k a month after putting 15% in 401k.
My expenses are really just meals out to socialize 1-2/week, gym activities, travel.
Otherwise I cook, socialize in settings that don’t involve consuming alcohol, and loathe having ‘stuff’ (clothing and things).
Im a F btw.
Hard to answer your question without seeing the whole picture. Rent plush utilities should put you at 2800/month, 200 for groceries, then 1k for entertainment/eating out should leave you with 2k+ in savings each month 🤷🏻♀️
Wrong question. Should be asking yourself: Do I need to buy this thing that I’m buying? If yes, then ask, is there a way to get it cheaper? If yes, stop.
Rising Star
Get the company match on 401k then it’s ok to spend most of the rest, especially if you’re on track for promotions.
Then in your 30’s keep your expenses at the same level, and the raises can be your savings.
$130k isn’t actually that much in NYC, but it’s decent for someone starting out.
Conversation Starter
Yeah, I’m at $134k right now at 30 (146k if you count my additional income), and I’m trying to figure out how to maneuver to a higher paying field.
Tendency for getting a higher and handsome salary can't be not materialised at times when someone is at the start for a job environment but proving the genius or when someone is experienced then smart salary is possible but if the salary structure is lower based on the reason then there is no way to be frugal.