Smart Budgeting Out of College on an IB Salary
Starting to think about life after college and, more specifically, budgeting and wealth management. I graduate this coming spring, and I have an IB role in a coverage group starting after graduation. I Imagine tons of people have been through similar situations and think a thread on budgeting tips/strategies would be immensely helpful.
TL/DR: Would love to hear any and all tips for smart budgeting in big city on an IB salary.
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You will get ~6000 every month. Spend half on living expenses (phone plans, internet, rent, food, etc), and then spend 25% max on food and going out. You're young.
I save ~ 1500 every month. I plan to save all of my Bonus. Everything is getting more expensive, so as an A1 just be sure to not be an idiot. Drinking with friends is fun, but it can get expensive quick as fuck
This one can be hard pending where you work, but avoid the spending culture (ie, frequent expensive dining). I'm fortunate enough to be in a group and bank that doesn't spend like crazy and is not in a top 2 HCOL city, so I've been doing well going by that measure. Also, find reasonably priced dry cleaners, haircut places, and parking garages (if you have a car) by leveraging people you already know in that city. The amount you save might seem small but saving $20 to $30 a month on 5 different essential things adds up quickly.
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