Anonymous
Post 01/20/2016 19:30     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:
Anonymous wrote:- not always, but usually, rely on the family to pay for things like cell phone bills


Why of course, sucking from the family teet. You forgot to mention many of these a-holes have their parents subsidize their rent.


Yes, that's another way to get rent paid! However, the people I know whose parents tend to live in places that aren't very popular, but pay a premium to do so.
Anonymous
Post 01/20/2016 13:29     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:
I spend $70 a month on my iPhone. I think those so called cheap plans that are on TV cost more than they are advertising, even w/the taxes.


I'm paying $35 a month. You can get 5 GB data for $45. Paying anything more than that for phone service is flushing money down the toilet.

Hate to break it to you.
Anonymous
Post 01/20/2016 12:11     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:
Anonymous wrote:Rent is widely variable. Personally, I can't comprehend how 20/30-somethings are paying rents of $2k+ in Arlington and DC. If you have the time to shop around you can really narrow down both cost & location...but again you've gotta have the time and flexibility.

30/M/single/$58k

Monthly budget:
Rent: $850 basement studio in Clarendon (mow the lawn and shovel snow for a reduction, utilities included)
Phone: $110
Internet: $50
TSP: $1500
Roth IRA: $460
No cable, HD antenna works really well locally
Variables:
Food: ~$100 (eat plain & cheap, and never turn down a free meal)
Gas: ~$80
Dry Cleaning: ~$40
Car Insurance + personal property tax: ~$900/year

The budget leaves about $300-$400/month in cash for haircuts, going out/drinking, mini-vacations, and whatever else. When that cash is gone, I lock it up and become a hermit until the end of the month and then the cycle starts again. Planning to continue living at about the same level and saving the difference as paychecks increase in the future in the hopes of retiring early.

Having a paid-off car and zero debt is the trick. Cash-flow does get better as time goes on.


Again, why are you spending $110 per month on a phone? What an incredible waste of money. You're flushing $900 per year down the toilet.

I am constantly amazed how much $ people flush down the toilet on a phone.


I spend $70 a month on my iPhone. I think those so called cheap plans that are on TV cost more than they are advertising, even w/the taxes.
Anonymous
Post 01/20/2016 10:15     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:- not always, but usually, rely on the family to pay for things like cell phone bills


Why of course, sucking from the family teet. You forgot to mention many of these a-holes have their parents subsidize their rent.
Anonymous
Post 01/19/2016 20:56     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:Rent is widely variable. Personally, I can't comprehend how 20/30-somethings are paying rents of $2k+ in Arlington and DC. If you have the time to shop around you can really narrow down both cost & location...but again you've gotta have the time and flexibility.


A few of my friends do this (they're all 23-25). Yes, they live in "luxury" apartments in Clarendon and the like ("luxury" because the apartments are newly and cheaply built, full of other recent grads and Friday nights/the weekends are an absolute madhouse) the like, BUT:

- they live in the basement apartments
- they live 2-3 people to a 1BD/1BD+den
- they walk just about EVERYWHERE and if they take Uber, they split the fare between 4-5 people
- they pregame heavily before going out, and if they go to the club/bar, they scrimp on drinks
- don't shop for clothes often or wear clothes until they've fallen apart (I've seen a number of them wear visibly ripped clothes to work)
- not always, but usually, rely on the family to pay for things like cell phone bills
Anonymous
Post 01/19/2016 20:27     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:30/F/Single/$55k

$1050 rent
$90 phone
$55 Internet
$400 car payment (i pay extra and I have 2 months of payments left)
$145 car insurance
$25 electricity
$40 gas (heat/HW)

Variables:
$150 gas
$150 food (I eat a lot of free food at work)
$300 credit card bills (2 CC's I need to pay off)
$200 to a personal IRA



So you're barely saving any money....good to know.
Anonymous
Post 01/19/2016 06:41     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I think the people that are claiming 1050 in rent and under are living in income restricted apartments.


I pay $750 a month and it's not an income restricted complex nor Section 8. I live in a nice neighborhood and a few blocks away are the $500,000 and up houses.

I also live in the South so I know that makes a difference.


Understatement of the year.


Not everyone wants to live in DC or the surrounding areas.


It makes a huge difference in housing costs. If you're going to post here about SFHs for $100,000 or rent below $800, you should probably list your area. It isn't really relevant to this discussion about DC budgets because the differences are so big.
Anonymous
Post 01/18/2016 22:18     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:Rent is widely variable. Personally, I can't comprehend how 20/30-somethings are paying rents of $2k+ in Arlington and DC. If you have the time to shop around you can really narrow down both cost & location...but again you've gotta have the time and flexibility.

30/M/single/$58k

Monthly budget:
Rent: $850 basement studio in Clarendon (mow the lawn and shovel snow for a reduction, utilities included)
Phone: $110
Internet: $50
TSP: $1500
Roth IRA: $460
No cable, HD antenna works really well locally
Variables:
Food: ~$100 (eat plain & cheap, and never turn down a free meal)
Gas: ~$80
Dry Cleaning: ~$40
Car Insurance + personal property tax: ~$900/year

The budget leaves about $300-$400/month in cash for haircuts, going out/drinking, mini-vacations, and whatever else. When that cash is gone, I lock it up and become a hermit until the end of the month and then the cycle starts again. Planning to continue living at about the same level and saving the difference as paychecks increase in the future in the hopes of retiring early.

Having a paid-off car and zero debt is the trick. Cash-flow does get better as time goes on.


Again, why are you spending $110 per month on a phone? What an incredible waste of money. You're flushing $900 per year down the toilet.

I am constantly amazed how much $ people flush down the toilet on a phone.
Anonymous
Post 01/18/2016 22:14     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:30/F/Single/$55k

$1050 rent
$90 phone
$55 Internet
$400 car payment (i pay extra and I have 2 months of payments left)
$145 car insurance
$25 electricity
$40 gas (heat/HW)

Variables:
$150 gas
$150 food (I eat a lot of free food at work)
$300 credit card bills (2 CC's I need to pay off)
$200 to a personal IRA



Why are you spending $90 per month on a phone? What a waste of money, it isn't 2008 anymore.
Anonymous
Post 01/18/2016 14:37     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:I'm 23, make $55k and live at home with my parents. No kids, no car payment, no student loans.

$18k to 401k
$6k to HSA
$1k/month to my parents for rent. My older sister told me our parents did this to her also and then they gave it back to her when she bought her house.

Leaves me just under $1k a month for stuff.

I know my situation isn't relevant to many of you but I appreciate what my parents have done for me and are continuing to do for me. I read DCUM and read how many of you believe once we graduate from college we should move out on our own. I'm thankful my parents let me live at home and are enabling me to get my finances in order before moving out. I hope to move out in about 2 years.


Awww, that's really nice of your parents. It's obvious from your post that you do appreciate it. My friend is doing this for her son and his "rent" is going into mutual funds (for him, eventually). I'll be happy to do the same for my son when the time comes.
Anonymous
Post 01/18/2016 10:05     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I think the people that are claiming 1050 in rent and under are living in income restricted apartments.


I pay $750 a month and it's not an income restricted complex nor Section 8. I live in a nice neighborhood and a few blocks away are the $500,000 and up houses.

I also live in the South so I know that makes a difference.


Understatement of the year.


Not everyone wants to live in DC or the surrounding areas.


But this is a DC based forum. Yes, anyone from around the world can access and post but when it comes to things like the cost of housing and cost of daycare, DC is in a different league then the "south". $55-$75K is a very respectable salary in many areas of the country.
Anonymous
Post 01/18/2016 10:00     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I think the people that are claiming 1050 in rent and under are living in income restricted apartments.


I pay $750 a month and it's not an income restricted complex nor Section 8. I live in a nice neighborhood and a few blocks away are the $500,000 and up houses.

I also live in the South so I know that makes a difference.


Understatement of the year.


Not everyone wants to live in DC or the surrounding areas.
Anonymous
Post 01/18/2016 09:18     Subject: Re:50-75k earners tell me your budgets!!
I make 55K, husband in school working part time makes 20k. We spend:

1130 rent
1000 daycare
500 food
50 diapers/wipes
225 car payment
86 car insurance
70 phone
150 student loans
300 misc
Anonymous
Post 01/18/2016 07:19     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:
Anonymous wrote:I think the people that are claiming 1050 in rent and under are living in income restricted apartments.


I pay $750 a month and it's not an income restricted complex nor Section 8. I live in a nice neighborhood and a few blocks away are the $500,000 and up houses.

I also live in the South so I know that makes a difference.


Understatement of the year.
Anonymous
Post 01/18/2016 06:27     Subject: 50-75k earners tell me your budgets!!
Anonymous wrote:So our budget is 64k/2 adults late 20s and one infant

450- rent. Originally 1400 but we rent our 2nd bedroom for 950
250-300- utilities
Health ins and 401k- ready deducted from our paycheck
Food- 400
Misc- 75
Dog- 100
Going out- 250
Diapers/wipes- 100
Savings-1000
Expendable-around 300


Damn does your co tenant know what the rent share ratio is?