Throwaway account
I've always been poor with my finances, but I realize now that I make enough now to get a control of my finances.
100k base +10k or so annual bonus. 30 years old. I was making 75k until I upgraded to captain recently. Expect this to increase to anywhere between 120-175k the next 2-3 years.
I never really made much money before 2 years ago, when I made 45k, then a year after got a raise to 75k. The road to making good money as a pilot is a long one. I have been flying for a living for 7 years, including years where I made <20k.
I'm a pilot who works 12 days and then home for 10 days. During those 12 days all of my expenses are covered, so I have no need to spend any of my money unless I want to go shopping or golf or any other fun activity while on a layover. I've considered refereeing hockey again in my time off and could easily make $500-700/mo doing this.
1 long term roommate and 1 short term paying me a total of $850/mo. One is month to month and the other I expect to be here for maybe 1-2 more years. I didn't factor them in when buying the house, two friends needed a place to live and I have the space, so I said why not?
Monthly take home pay after insurance and 401k/HSA is $5460
$1500 in checking account
$700 emergency fund (bad, I know)
$5500 in 401k
$100 in HSA ( just started contributing $50/check)
$3700 in CC debt at 0% for another 14 months.
$1445 in student loans @ 6.8%
$100/mo cellphone
$120/mo car insurance
$600/mo car payment ($36k @ 5%)
$1400/mo total house payment (including PMI, insurance, taxes, $100/mo extra towards principal)
$150-225 utility bills
$30/mo water
$130 cable + internet
Currently contributing 6% ($250) per pay check into 401k with 50% matching up to 6% of salary.
I tend to purchase whatever I want with out really considering the costs, but I know this needs to stop. I don't eat out often, but love to golf and buy LEGO. At the end of the month I always wonder how I blew through so much money.
Credit score of ~700. I've always been poor at saving money because I know I could always fall back on family. I hate to ask for money and very rarely do, but if a real emergency happened I could have the cash from my mom same day. She has ~600k in liquid assets that if I ever got in a pinch would be no big deal to ask for. However I loath taking her money and know I need to quit using that as a crutch as save more for myself. The rest of my immediate family are also worth >1mm. I think knowing that I'll inherit >1mm has allowed me to be careless and not worry about my future.
I really want help in creating a budget, I've never had one and I know I need help. I make too much money to wonder where it all goes. I have a spending and saving problem.
I paid down ~5000 in CC debt this summer as well.
EDIT: added take home pay and other numerical corrections.
Submitted September 20, 2018 at 02:50PM by sourtinkerton https://ift.tt/2xBrEKr
