I'm graduating in a month with a job offer in NC. This will be the first time in my life I'll be making more than minimum wage, and I have relied on my parents throughout much of college (and I am fortunate to be able to).
I will have about $34k in student loans upon graduation that I'd like to pay off ASAP to free up that money. The same goes for a separate, 0-interest loan from Dell for school related things(that I'll have paid off in only a few months).
I also want to form better spending habits before I get my first paycheck, so I made a budget to get a better picture of my financial situation. I would appreciate feedback on things I should change.
Salary: 65k + relocation + RSUs (not sure on the specifics for the latter 2 yet, or how they factor into the tax equation). My gf will be paying for the rest of the rent as well as groceries. If we were to break up, I could afford the full rent.
$3800 net monthly income based on averages of a few online calculators
- Rent $935
- Student loans $800 ($325 is the minimum)
- Utilities + Internet : $150 (Guess)
- Transportation $50 (I will be walking 7 minutes to work, and living within walking distance of fun things to do)
- 401k: 10% of my pre-tax salary + 6% employer match = $550 on my end
- $300 Dell Payment(not long term)
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Benefits: $50 - Dental:$8 + Vision:$2 + HSA:$40
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Phone: $50
Total Necessary Expenses: $2885
Leftover Money: $915
- Netflix 20 (rounded up to 20)
- Spotify 10
- Gym 25
- Entertainment $250
- Non-Essential Food/Beverages $150
$460 leftover = savings
Initially, I had more put into savings than student loans, but considering my savings interest is 2%, and the student loans are around 4%, I was better off switching them around. Thoughts?
November 17, 2018 at 09:45AM
