Just started a new job and this is my budget. Please critique:
Current emergency fund: $1000
Gross pay: $4000 / mo
- Utilities & Rent: $530 (I am walking distance from work and splitting a 1 bedroom apartment with my gf)
- Parking: $70
- Minimum payment on student loans: $80 (I have $7500 in loans)
- Car insurance: $115
- Cell phone: $70
- Medical, life, dental insurance (High deductible low premium employer sponsored): $90
- Total fixed expenses: $955
401k: Not the best, matching 25 percent on first 6 percent. I'm doing 10 percent pre-tax.
Take home after fixed expenses and 401k: roughly $2075. Budgeting $750 / mo for food and entertainment (which I split with my gf) , saving the rest to reach $15k in my emergency fund before reevaluating what I am putting in my 401k. Is this too much? I am conservative by nature so getting a somewhat sizable emergency fund is important to me but something I can take another look at.
I'm also about to get a bonus of $6k pre-tax for passing my CPA Exams. Should I use this to pay a big chunk of my loans?
All critiques welcome.
Submitted May 22, 2019 at 11:16PM by Red_Rifle http://bit.ly/2HBaPG1
