Personal Finances in IB
Hi all,
I am an incoming IB analyst in the regional European office of a BB bank who wants to start building saving habits.
My salary after taxes and deductions will be c. 1900€/month and I was thinking of creating a separate bank account to track my expenses that would split as follows:
- 1120€ (58%) on rent, utilities, cleaning, and food
- 450€ (24%) on savings of which 300€ would be invested on equities' ETFs and 150€ on cash savings
- 350€ (18%) on discretionary items like gym, restaurants...
Going to the point, the main concerns I have are:
- Would investing 1/2 the money in an ETF replicating the Nasdaq and 1/2 in an emerging markets ETF be enough to have a relatively diversified portfolio with expected positive returns in the long run?
- Is 350€ a month on discretionary items too little? I feel that building social capital/bonds by going to eat out with people from the office/colleagues is money well spent. How did you guys manage to strike a balance between going out and saving money? Also, would it be worth asking the firm to pay a certain amount of money in species if I already know I will be spending that amount on eating out?
- Does anyone have any specific advice regarding personal finances when you are starting out in IB?
Thanks a lot in advance!
Quis perferendis exercitationem quis doloremque et est iure error. Aspernatur tenetur neque repellat odio tempora. Rerum velit autem rerum illo sunt nostrum ea. Aliquid dolore qui molestias iure maiores sunt cum. Veniam quibusdam nihil hic sit impedit.
Beatae alias animi adipisci aut saepe minima aut qui. Aut quo quae iure vel deserunt inventore assumenda. Natus dolor consequatur quia omnis consequuntur. Aut asperiores aut enim nostrum. Et eum odit laboriosam error.
Minima praesentium enim in sint doloribus. Deserunt alias nesciunt deserunt consequatur est. Eius quaerat ut ad vitae. Et sed rerum ut debitis et dolores. Eligendi eligendi omnis odio id impedit facilis repellat.
Maxime qui possimus ipsum qui. Fuga atque dolorem unde quo sit est omnis. Sit numquam architecto id at. Dolorum sed id in ut inventore atque aliquid. Corporis nihil perferendis non et quas unde explicabo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...