What % of Your Salary Is For Living Costs?

TwoThrones's picture
Rank: King Kong | 1,538

Hey folks,

Just wanted to see what % of your salary you spend on rent. We can do gross or net, your choice, just make sure to specify. I'll start.

My rent and all utilities come out to about 18% of my gross salary.

Also, what percentage would you consider living to be above your means? Below? At? Let's hear it.

Comments (31)

Sep 27, 2013

Depends on what you consider living costs..... but my rent, utilies, cable/internet, laundry (not dry cleaning) is about 22% my gross. Loans are another 20%.

I spend a shitload of money on food too, got to hit those macros.

You can definitely live within your means around 40% going to routine expenses.

Sep 27, 2013

A depressingly high amount, of net income:

Rent = 42%
Utilities = 8%
Other bills = 8%
Travel = 4%
Food = 15%

If we exclude food, 62% of my net goes to fixed, monthly costs.

Sep 27, 2013

Does anyone have a detailed spreadsheet of all their living expenses broken out by month?

Sep 27, 2013
Scandal:

Does anyone have a detailed spreadsheet of all their living expenses broken out by month?

Oh yes, going back 18 months now. Depressing at times but helps you realise what you're spending too much / little on.

Sep 27, 2013

I have a spreadsheet that calculates income remaining after taxes and routine expenses.

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Sep 27, 2013

Rent/Utilities ~ 30%
Food ~ 20%
Loans ~ 15%

The rest is spent on bars/nights out, trips and my addiction to amazon

Scandal:

Does anyone have a detailed spreadsheet of all their living expenses broken out by month?

I really should. I've made plenty for my siblings and girlfriend, have madee sure they are all budgeted properly. When it comes to my own finances I am awful.

Dec 7, 2016

A somewhat successful PWM guy once told me, it's much easier to tell other people how to spend their money.

Sep 27, 2013

Anybody else finding it fucking hard to save $ after all expenses are in? After 5% to 401k, Rent, food, car, standard cable / electric bills, and entertainment.. Boom there goes most of your net income.

Sep 27, 2013

25% rent
??% food
5% student loans
5-20% medical bills
10% books, CFA (and material)

~35-40% alcohol, depending on the month

Really needs to change.

Sep 27, 2013

35-40% alcohol sounds about right, may be a little conservative.

I actually meant if anyone had pre-made ones they were willing to post/PM.

Sep 27, 2013

Why not just use mint?

Sep 27, 2013

And Anihilist, if you cut down your alcohol expenditure, maybe your medical bills will be a bit lower. A win win situation.

Sep 27, 2013

Do you want to be further depressed?

My living expenses make up .07% of my gross income. My debt obligations on the other hand make up about 70%.

Mind you I paid cash for my condo, cars, and other toys. I have a ridiculously high debt payments because 100% of my passive cash generating assets are debt financed. So those fund themselves and let me live on the remainder with out breaking a sweat.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

Sep 27, 2013

Do you have any lease agreements with E&Ps in the Barnett or Marcellus Formations?

Sep 27, 2013

Yes.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

Oct 3, 2013

What are examples of passive cash generating assets?

Oct 3, 2013
Fetter:

What are examples of passive cash generating assets?

Win $7K a week 4 lyfe

Or a computer virus designed to divert fractions of pennies into a bank account over time. Then get caught and have a fat guy burn down your office to cover up the evidence.

speed boost blaze

Sep 27, 2013

I've been trying to cut back because usually late night food, more alcohol, and cabs (more expenses in general) are corollary to alcohol in the first place. Still have to go to DMV and get a new ID which I'm absolutely dreading.

Sep 27, 2013

Yeah if someone could post or PM one for me too, that would be great.

Sep 27, 2013

Someone needs to break down this 35-40% alcohol expenditure. How is that possible?

If you are making $6000 a month gross for example, you are spending more than $2000 a month on alcohol. If net, lets say $4500 for arguments sake, then you are still spending more than $1500 a month. How do you guys spend that much?

Sep 27, 2013

If you are making $4000/mo, go out at least one rager on the weekend --> $200*4=800 (this is with food, cabs, ancillary shit to drinking in NY IMO). Then brunch/day drinking the next = ~ $50*4=200. Weekday drinks can range, but will say about another $50/week depending on the week (could be much more).

So grand total of about $1200 giver or take a few hundred. That is a very rough estimate, and on the short end of my estimate at 30%.

And regarding med bills, yeah, it was a very "character building" experience to say the least. Still paying them off, but trying to avoid ever going through that again!

Sep 27, 2013

Your tags are hilarious hahaha

Sep 27, 2013

Haha thanks. I actually have no idea how they came up, but they did.

Sep 27, 2013

I use Mint

Sep 27, 2013

@lkc @scandal

I have one I can upload, trying to figure out how to do it from my work comp though with most stuff blocked. Made it about a year go for myself and it's super basic and useful.

Sep 30, 2013

Thanks man @yeahright

That would be great.

Sep 30, 2013

Damn, forgot about me saying I would upload it, making a note to do it tonight, thanks for the reminder!

Sep 27, 2013

Anyone want to take a stab at my second question(s)? What would you consider to be living within your means? Above or below?

Sep 27, 2013

Living wise (rent, food) I am below. Spending I am above. I guess it evens out

Sep 27, 2013
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Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

Dec 8, 2016
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