Author Topic: How am I doing?  (Read 2577 times)


  • Stubble
  • **
  • Posts: 105
  • Age: 31
  • Location: Milwaukee WI
How am I doing?
« on: September 24, 2013, 01:48:02 PM »
Not sure where to post this, but here seems as good as anywhere else:
Some background: Iím 22; live alone, no savings, no debt in a Mid-COL city.  I think Iím doing okay, but am rarely satisfied so I figured I would post here and see if anyone has suggestions to improve, or notices anything I've missed.
2007 Honda Civic Hybrid - ~$8000

Spending From Mint:
Rent $725.00
Electronics & Software $50*- Computer, cell phone (device), project pieces, other toys
Food & Dining $200
Sports $80 Ė I have a tendency to overshoot this one.  Itís basically entries and equipment for running & biking (mostly running).  Iím leaving it at $80 to see if it balances out in the winter but I feel like I will have to bump it up ($100+?)
Gas & Fuel $61 Ė Almost exclusively trips out of town to friends/family.  I actually had four consecutive fill-ups in Indiana at one point this summer
Internet $53.84 Ė Really want to get this down
Gym $53 Ė Useful primarily for the lap pool and indoor track but I've also been known to use their showers before work.  Employer pays 1/2 so Iím only out of pocket $26.50
Entertainment $42
Travel $40*
Auto Service & Parts $39 - Not sure where this will end up, just got through a lot of deferred maintenance on my car (e.g. the 12V battery had been dead for about a year)
Electric $35 Ė Last month $33.09/ 161 kWh
Mobile Phone $32.06
Clothing $25*
Computer Backup $10
Renterís Insurance $110/yr Ė Iím actually over-insured here as $110, the cheapest I found anywhere, is State Farmís minimum premium
Auto Registration $150/yr   
Else $50/mo
*Lines which donít have much normal spending and exist primarily to set money aside for larger purchases

Some of these might still be fluid but things seem to be settling and getting more consistent now.  Thanks for the help!


  • Pencil Stache
  • ****
  • Posts: 765
Re: How am I doing?
« Reply #1 on: September 24, 2013, 02:53:24 PM »
What are your goals? What are you trying to achieve? You didn't mention your income, but you don't have any savings, so is it correct that your income exactly covers your expenses?

It's excellent that you have no debt, but you should have some savings. Are you fresh out of college?

More details!!


  • 5 O'Clock Shadow
  • *
  • Posts: 20
Re: How am I doing?
« Reply #2 on: September 24, 2013, 05:38:54 PM »
I agree with SunshineGirl - it really does depend on your goals and income.  Your expenses are around $1500 a month so if your income is $5000 a month and you want to be financially independent in 10 years you are on the right track.  If your income is $1500 and you want to be financially free in 3 years then you aren't doing so well ...

If you are only just covering expenses I would suggest you get a roommate to share the cost of rent, and reduce your sports, internet, gym, travel, clothing and computer backup budgets.  I'm not sure what is included in the $50 per month of 'other' but given you have lines for pretty much everything else I'd suggesting cutting this completely.  How much you need to cut them depends on your goals.