This is the budget I'd like to stabilize at once everything settles down.
BTW, I live with a roommate, but I pay for just me. I graduated from college earlier this year, so I'm just starting out.
Gross monthly income: $2600
Pre-tax 403(b) deduction: $525 (20%)
Monthly take-home pay: $1700 (ish?)
Household expenditures:
- rent: $500
- groceries: $60
- utilities (split w/ roommate)
- cable modem: $23
- electricity: $25
- natural gas: $30
- cellphone: $10 (family plan)
Debt:
- student loans: $133
Misc.:
- union dues: $40
- health/dental/life insurance: free
- transportation: $20
Savings:
- Roth IRA: $333.33 (auto-transferred in weekly installments to Vanguard)
- emergency fund: $200 (auto-transferred once a month; goal: $5K)
- house fund: $50 (auto-transferred once a month)
- car fund: $200 (auto-transferred once a month; goal: $3K)
- savings buffer: remainder
I am living exclusively on my current job's income. It's a little tight at the moment, but it keeps me on track.
I do have a separate subaccount with money that I saved during high school and college, as well as some money from my father. It's there in case I go red, but otherwise, I don't touch it. That sum is earmarked for mutual fund investments once I reach my emergency fund goal.
In actuality, my 403(b) hasn't kicked in yet, I'm deducting $170/week ($700/mo) for my Roth because I only started this month and need to catch up for this year, I only paid $275 for rent total in the past two months because I'm living on a living room futon until my room frees up in October, and my father refuses to let me pay for my cell phone. Oh, and I might put my car fund on hold.
But you get the general jist of the situation.
~mimi