To Those Out on Their Own: What's Your Budget Like?
We're young, single [well, not anymore unfortunately], and get paid pretty well for our ages. We have very few legitimate needs, rarely pay for our own food, and spend 90% of our lives in the office anyway... so what the hell do we spend that money on anyway? I'd be interested to see what the breakdowns are for you guys (best-guess estimates obviously) in terms of how you spend your budget.
I'll give a template as an example so we can keep it organized but I haven't seen a topic like this so it'd probably be helpful to see what the typical expenses are for the typical Wall Streeter fresh outta college. Anyway, here's mine. I'll give my estimates pre-engagement, because I think they're about to change in the most depressing way possible.
Job/Experience: 3rd Year HF Analyst
Rent: 15%
Clothes: 5%
Food/Restaurants: 10%
Drinks/Social: 10%
Hobbies: 5%
Savings: 55%
So I'm kinda simple...






You forgot to put your
You forgot to put your wedding: 2325%
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Boreed: You forgot to put
You forgot to put your wedding: 2325%
How bout the divorce? 50%. Of everything.
I hate victims who respect their executioners
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"Simplicity is the ultimate
"Simplicity is the ultimate sophistication."
-Leonardo da Vinci
Looks like you're pretty sophisticated.
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
I am looking at: Savings:
I am looking at:
Savings: 40%
Food/Going Out/Drinks: 15%
Rent & Utilities: 20%
Transportation & Misc. Expenses: 10%
Clothes and durable goods: 10%
Hobbies: 5%
Pretty happy with it. Saving is almost a hobby in itself. I love investing, so a little more in my account gives me more to play with.
Louboutins: 100% In
Louboutins: 100%
In seriousness:
Rent: 33%
Restaurants/Going Out/Drinks: 5%
Groceries (I cook for myself): 10%
Clothes/Make-Up/Shoes/Hair/Massages/Facials, etc.: 25%
Utilities, Transportation: 5%
Leisure activities: 3%
The other 19% goes to savings or more "splurge" items like the aforementioned Louboutin's. I also keep a little cushion since my firm is slow with reimbursements for cabs, meals, etc. Also should note that I'm a "spend your salary, save your bonus" type of person, so the savings part isn't as high of a %.
anaismalcolm: Louboutins:
Louboutins: 100%
In seriousness:
Rent: 33%
Restaurants/Going Out/Drinks: 5%
Groceries (I cook for myself): 10%
Clothes/Make-Up/Shoes/Hair/Massages/Facials, etc.: 25%
Utilities, Transportation: 5%
Leisure activities: 3%
The other 19% goes to savings or more "splurge" items like the aforementioned Louboutin's. I also keep a little cushion since my firm is slow with reimbursements for cabs, meals, etc. Also should note that I'm a "spend your salary, save your bonus" type of person, so the savings part isn't as high of a %.
Am I in love?
I hate victims who respect their executioners
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BlackHat: Maybe I'm just on
Maybe I'm just on edge today because I'm effectively stuck doing wedding planning bullshit for the rest of the weekend and want to tear my eyeballs out.
I'll give my estimates pre-engagement, because I think they're about to change in the most depressing way possible.
We're young, single [well, not anymore unfortunately].
How bout the divorce? 50%. Of everything.
Am I in love?
Damn. Contemplating divorce even before marriage, huh?
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
Connor: BlackHat: Maybe I'm
Maybe I'm just on edge today because I'm effectively stuck doing wedding planning bullshit for the rest of the weekend and want to tear my eyeballs out.
I'll give my estimates pre-engagement, because I think they're about to change in the most depressing way possible.
We're young, single [well, not anymore unfortunately].
How bout the divorce? 50%. Of everything.
Am I in love?
Damn. Contemplating divorce even before marriage, huh?
You know me, just planning ahead.
I hate victims who respect their executioners
Follow BH & Co. on Twitter: @DumbLuckCapital
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After taxes I'm
After taxes I'm averaging:
Rent & Utilities: 16%
Food/Groceries: 8%
Transportation/ Misc.: 10%
Durables: 6%
"Recreation": 10%
Travel Fund: 10%
Savings: 40%
Making money is art and working is art and good business is the best art - Andy Warhol
I'm assuming these are all
I'm assuming these are all after-tax numbers.
Glad to see I'm not the only
Glad to see I'm not the only one saving... I don't feel as weird now. And ya all numbers are after-tax, which sadly I just divided by all-in comp by two and went with that. My most recent paychecks have been netting less than 50% which is very depressing to see on a pay stub.
I hate victims who respect their executioners
Follow BH & Co. on Twitter: @DumbLuckCapital
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How much are you guys paying
How much are you guys paying for rent? @ BlackHat and Dwight, if you guys don't mind me asking.
Just a sophomore looking for an opportunity to start up this dream of mine.
Lotin: How much are you guys
How much are you guys paying for rent? @ BlackHat and Dwight, if you guys don't mind me asking.
I overpay for my apartment to a very irrational extent. If your guess was even 1/2 of the actual, I'd be impressed.
I hate victims who respect their executioners
Follow BH & Co. on Twitter: @DumbLuckCapital
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Lotin: How much are you guys
How much are you guys paying for rent? @ BlackHat and Dwight, if you guys don't mind me asking.
I don't know their living arrangements but I assume safe zone is between 1500 - 3000 depending on if they have roommates and how the bill is split. I am assuming a Manhattan apartment unless these guys travel to and fro the outer boroughs or worse Connecticut/New Jersey.
Obviously it could be much higher or dare I say it lower.
BlackHat: Lotin: How much
How much are you guys paying for rent? @ BlackHat and Dwight, if you guys don't mind me asking.
I overpay for my apartment to a very irrational extent. If your guess was even 1/2 of the actual, I'd be impressed.
My guess - 5,500/month if you overpay based on my 1500 - 3000/month original assumption. You don't have to disclose the number to me. Don't care just bored.
BlackHat: Lotin: How much
Blackhat you're making me
Making money is art and working is art and good business is the best art - Andy Warhol
It can't be more than
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
Connor: It can't be more than
BVMadden: Connor: It can't
Ya know what, I believe it's
@BlackHat Good luck with the
anaismalcolm: Louboutins:
Edmundo Braverman: @BlackHat
KeepCalm: Edmundo
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Boreed: KeepCalm: Edmundo
Just a sophomore looking for an opportunity to start up this dream of mine.
BVMadden: Ya know what, I
"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan
Connor: BVMadden: Ya know
Based on Gross Income, here
CompBanker
CompBanker: Based on Gross
I hate victims who respect their executioners
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BlackHat: CompBanker: Based
CompBanker
CompBanker: My tax rate is
I hate victims who respect their executioners
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Kind of a thread jack but
Making money is art and working is art and good business is the best art - Andy Warhol
dwight schrute: Kind of a
I hate victims who respect their executioners
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BlackHat: I'm not too
rent & utilities 25% golf
I eat success for breakfast...with skim milk
Rent 25% Food 10% Assorted
Savings: 10% Investments:
And yes, I'm asian.
Personal expenses as a % of
How do you guys have such low
I need a higher paying
anaismalcolm: How do you guys
"So who lost the hundy?"
cheme-ib: anaismalcolm: How
I eat success for breakfast...with skim milk
anaismalcolm: Louboutins:
Eventus stultorum magister.
TonyPerkis: cheme-ib: ana
"So who lost the hundy?"
cheme-ib: TonyPerkis: che
"One should recognize reality even when one doesn't like it, indeed, especially when one doesn't like it." - Charlie Munger
cplpayne: cheme-ib: Hey
"So who lost the hundy?"
cheme-ib: cplpayne: cheme
Hi, Eric Stratton, rush chairman, damn glad to meet you.
on post-tax income 18%