Budgeting Advice for Incoming 1st Year Analyst
Trying to figure out how much I can spend on rent and still live off my base of $110k, which I estimate comes out to ~$6k post-tax on a monthly basis. Here's my breakdown of additional expenses:
1. Contribute 6% to 401k to equal the company match - $550/month
2. Food - $1,000/month. I plan on taking full advantage of the dinner stipends as well, so this includes weekend dinners where I might splurge more than usual.
3. misc/entertainment/night life - $1,000/month.
Accounting for these expenses, I'm sitting at $3,450/month for rent and leftover savings.
I'm not from the city, so please let me know if I'm underestimating my expenses and whether this is a reasonable budget for analysts.
Incoming first year as well who’s also trying to figure out the whole budgeting thing lol. Interested to see what others have to say, but I’m planning on maxing my percentage towards rent (firm is hybrid and don’t want to live in a slum), but then clawing back elsewhere (I eat out way too much it’s a problem).
Agreed, want to prioritize a nicer place with the amount of time spent WFH. Food shouldn't be too bad with the stipends, but really need to stay disciplined while going out on the weekends.
Looks good. Keep the big 3 (housing, transportation, food) in check and depending on your goals, you should be able to save a lot.
Curious why transportation is a huge cost?
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