Off the bat you might be thinking that I make a lot of money and it is easy to save half. Unfortunately, that is not the case. I work in a school and although I am paid more than what I think I should it is nothing crazy! I supplement some of my travel through travel hacks which helps get me free flights. I also have side hustles to help get extra spending money which also comes in handy - last year I almost made $7,000 doing my favorite one.
Any who, here is the official breakdown.
Fixed Income - 27.75%
Mortgage - 19.85% - I'm currently living in deal 3 and have help with my mortgage from my girlfriend who I live with.
Electricity/Internet - 4.5% - This isn't every month but more of an average. Summers are expensive and winter is less so.
Car Insurance - 1.8% - I have a '09 Camry that is completely paid off.
Phone - $0 - My mom pays for my phone but I take care of all the streaming services so it's the same price.
Gym Membership - 0.8%
Netflix - 0.4%
Hulu - 0.4%
Variable Income - 10.3%
Food - 7.7% - I usually don't spent this much but like to have extra just in case.
Gas - 2.6% - I live like 5 - 10 minutes for work so it's usually less than this.
Savings - 54.4%
Travel - 10.24% - My summer trips are a priority that I like to save for.
Car - 2.5% - I like to save for a future car that I don't know when I'll get it but I'll want to pay cash.
House - 30.73% - Always trying to save for my next rental or personal property.
Savings - 10.88% - I am not paid in the summer so I need to save extra but also to max out my roth ira.
Fun Money - 7.7% - As I mentioned early this isn't a lot but I make an extra $580 a month through this one side hustle.
To some people this may seem really strict but for me I have all my needs met and am still trying to delay gratification as long as I can. If there is something I truly want I try and do more tests to save up and get it. At this point my priority is to save to set myself up for later on and that is reflected in my budget!
HELLO AND WELCOME!
I'm Jake, a dude interested in personal finance and travel creating the life I choose.
In 5 years I went from living in a basement with Craigslist roommates to paying off 90k of debt, backpacking 3 continents, getting a house for myself and 5 rental units.
Read my story in the about me section.
All photos on the blog are from my travels
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