AN1 budget for below-street salary: am I crazy?

Based on the most helpful WSO content, your budget seems well-structured and realistic, especially given your below-street salary and the high cost of living in NYC. Here's a breakdown of your budget with some insights:

Strengths in Your Budget:

1. Rent: At $950 with roommates, you're keeping housing costs well below the typical NYC average. This is a smart move, especially early in your career.
2. Transportation: $150 is reasonable for NYC, assuming you're using public transit. If you're not already, consider monthly MetroCards to save further.
3. Food: $400 is a solid balance for groceries and occasional dining out. Cooking at home is a great way to save.
4. Savings: Allocating $500 to personal savings and contributing to your 401(k) and HSA is excellent. You're building a strong financial foundation early.

Challenges:

1. Student Loans: $1,800/month is a significant portion of your take-home pay (~35%). While unavoidable, this will limit your flexibility until paid down. Consider refinancing if your private loans have high interest rates.
2. Discretionary Spending: With $1,300 left over, you have a decent cushion for discretionary expenses. However, be mindful of lifestyle creep, especially in NYC, where it's easy to overspend on entertainment, dining, or shopping.

Suggestions:

1. Emergency Fund: If you don’t already have one, prioritize building 3-6 months of living expenses in your personal savings. This will protect you from unexpected expenses.
2. Roommates: Staying with roommates for a few years can help you save more aggressively. Consider this until your student loans are more manageable.
3. Investing: Beyond your 401(k), consider allocating a portion of your leftover $1,300 to a brokerage account or ETFs. Let your money work for you.
4. Side Hustle: If time permits, a side hustle could help you accelerate loan payments or savings.

Final Thoughts:

You're doing a great job managing your finances on a tight budget. Keep focusing on paying down your student loans and building your savings. Once your loans are under control, you'll have much more flexibility to enjoy your hard-earned income. Keep grinding—you’re on the right track!

Sources: Managing Your Money - Building a Personal Financial Model, Managing Your Money - Building a Personal Financial Model, Is my IB analyst personal budget realistic?, Can someone help me with budgeting? 170k as a 22 year old is absurd to me., Millionaire by 30