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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How are you able to save that much per month? I make about the same as you and usually bring home about $1650 every two weeks. We're the same age also. Are you married?[/quote]

PP, thanks for the question. I am a single mom. The key for me has been a) pay off my debt b) to live as simply as possible.

I am including below a list of my fixed monthly expenses:

[b]RENT $900:[/b] I rent a 2 BR condo in close in NOVA. It takes me about 35 minutes to commute each way to my job in DC. Monthly rent is $1,800 and I have a roommate so we split the rent and utilities in half.

[b]UTILITIES $100:[/b] This includes gas, electric and cable. The monthly utility bills run about $200 and I split this with the roommate.

[b]PUBLIC STORAGE $100:[/b] I rent a storage unit for $100 per month.

[b]CELL PHONE $40:[/b] I dont have a home phone. I only have a cell phone and have been with the same provider on the same $40 plan for years. I've had the same cell phone for the past 6 years. People are constantly telling me I should upgrade to the latest, newest phon on the market but I dont see why when my currently cell phone works perfectly fine.

[b]CAR INSURANCE $80:[/b] I love Geico what more can I say.

[b]CHILDCARE $400:[/b]Total childcare cost is $800 per mo. DC's father pays $400 per month in child support so his $400 goes towards half of the childcare costs.

So, my monthly fixed expenses are around $1,620.

My base salary is $50K plus I earn approx. $20K in commissions annually.

I receive 3 paychecks each month:
[b]1st: [/b]$1667 base salary
[b]15th:[/b]$1667 base salary
[b]15th:[/b] ranges from $1300-$1900 commission check

So, each month I can count on receiving approximately in $4,800 take home pay. $4,800 take home - $1,620 fixed expenses = $3,180 leftover. On the 15th of every month I transfer $3,000 of the leftover from my checking into my savings account.

Before I paid off all my debt aggresively saving like this would not have been possible.

The key is to a) pay off all or most of your debt b)to get and keep your fixed expenses down. The lower your fixed expenses are each month the more money you will have leftover to save.

I also live a rather simple/frugal life. I grocery shop at Aldi, which is arguably the cheapest grocery store out, and I buy DC's clothing from baby consignment stores and sales. These are just a few examples.

[/quote]

Ahh makes sense. You are awesome! I still have debt that I'm paying off, which comes out of my check plus I save about 20% for retirement. So that's why our take home pay is so off from each other. I'm a single mom too.[/quote]

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