Single Guy Budget Review

[Anonymous]

I went through a bit of a rough patch which caused me to move back home for about 6 months. I've paid off my debts and need to see if my budget makes sense moving forward.

Let me know if this split looks right or if I'm missing something.

29yrs old, single
Income:
$10k month (net)

$3,000 mo - savings/retirement
$3,500 mo - housing/utilities (max)
$1000 mo - food/drink
$500 mo - transportation
$750 mo - personal (life insurance, gym/trainer, toiletries, gifts, etc)
$500 mo - recreation/vacation (savings)
$500 mo - clothing
$250 mo - medical/health ins.


Thanks!

[Anonymous]

$500 per month in clothing? $1,000 per month in food/drink? $750 for personal? All of those are really high.

[Anonymous]

Anonymous wrote:$500 per month in clothing? $1,000 per month in food/drink? $750 for personal? All of those are really high.

I live a fitness lifestyle which includes a LOT of organic meats and vegetables. I also use personal training services which makes the food and personal a little higher than normal.

As for the clothing, I like to dress well and men's clothing isn't inexpensive.

Btw, these are maximums and not necessarily what I'll spend each month. I tend to roll over unspent amounts into savings each month.

[Anonymous]

Wow, this is crazy.

I've never taken home more than 4,300 a month and always save at least a thousand. And that doesn't even include my 401k match.

You are spending way too much money.

[Anonymous]

Hmm. Looks like you're saving 1/4 of your take home which is great. I think as long as you save the unspent amounts in those categories you'll be better off than most people

[Anonymous]

Organic food is hooey. No science behind it. Shop at Safeway and save.

Clothing, you can save be getting good-looking clothes at Marshalls, Ross, TJMaxx, and online via Amazon retailers. I just bought a great cashmere topcoat for $120.

[Anonymous]

Anonymous wrote:Organic food is hooey. No science behind it. Shop at Safeway and save.

Clothing, you can save be getting good-looking clothes at Marshalls, Ross, TJMaxx, and online via Amazon retailers. I just bought a great cashmere topcoat for $120.

I buy food from farmers not for health benefits entirely but because I like to support small growers/business. I'm also a fairly serious cook and organic chicken is a hell of a lot tastier than those saline injected mushy chickens I've had from Safeway.

I buy a lot of clothing online to get the quality I like but considering I wear semi-custom suits, I think I'm getting decent deal keeping my clothing/shoes budget to $5k year

What sort of percentages are you spending on those categories?

[Anonymous]

10K a month, net? At 29? What do you do for a living?

[Anonymous]

Screw the clothing and food, which are high but if you eat out a lot (perhaps because you are single and dating unlike lots of parents on this board) and wear nice clothes, are not extreme.

What about the housing? Do you own your own place? IF not, you are blowing a ton on rent, even in an expensive city like this one? If you do, then you should be getting something back in taxes for interest. But assuming you are thinking of sticking around this area for a while, you should consider buying or getting something simpler until you do. $2k/month rent would still get you something quite respectable and would greatly increase your savings rate on its own.

[Anonymous]

Is the transportation just gas/metro/parking or does it include car payment as well? If just gas and metro that's high.

[Anonymous]

Anonymous wrote:10K a month, net? At 29? What do you do for a living?

I founded/run an online retail business

[Anonymous]

Anonymous wrote:Screw the clothing and food, which are high but if you eat out a lot (perhaps because you are single and dating unlike lots of parents on this board) and wear nice clothes, are not extreme.

What about the housing? Do you own your own place? IF not, you are blowing a ton on rent, even in an expensive city like this one? If you do, then you should be getting something back in taxes for interest. But assuming you are thinking of sticking around this area for a while, you should consider buying or getting something simpler until you do. $2k/month rent would still get you something quite respectable and would greatly increase your savings rate on its own.

You're correct about the housing. The good thing is that I'm just now about to move out and haven't signed a lease anywhere yet so that number could change. When I rented before I was paying $3000/mo for Gtown and it didn't seem too hurt much. I went through a breakup and had to reinvest in my business which is why I moved home.

The problem I'm having with the housing issue is that I just really don't want to own one. I know that's sacrilege on boards like this but it doesn't interest me at all. Maybe in 5 or 10 years once I've achieved a level of wealth. I will do my best to find a place close to that $2k per month and save/invest 4 or 5k per month in case the goals do change.

[Anonymous]

Anonymous wrote:Is the transportation just gas/metro/parking or does it include car payment as well? If just gas and metro that's high.

That includes Metro and the train to NYC I take for business a couple times per month

[Anonymous]

dude you have to be gay.

a single guys budget should be this

pizza 250
going out to bar 700
cab rides home 1000


there is no reason for asingle guy to have life insurance. youa re wasting yoru money.

but i am willing to bet you are gay

[Anonymous]

I buy food from farmers not for health benefits entirely but because I like to support small growers/business.

most of the products you see at tthe local markets are not from those farmers you see there. show me where a local farm is producing veggies this time of year?