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juicebox02 t1_j5knanv wrote

damn i make 40k more a year than you and amassed half of the savings you did... I need to budget better

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cash_is_key OP t1_j5ko719 wrote

Without changing your spending habits try to keep track of every penny spent for a couple months. Then take a look at the results and see where you can reduce your spending, stretch every dollar spent, etc.

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cash_is_key OP t1_j5kfhqb wrote

Source: I tracked every penny earned and every penny spent during 2022. My spreadsheet of choice is Google Sheets.

Tool: I made this diagram with SankeyMATIC

Background: I live in Orange County, CA and I split the rent with my partner. The two of us live in a 1-bedroom condo. I work full time technical support in a retail environment. Outside of work I buy and resell items found in my local thrift stores.

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gimmickypuppet t1_j5kmihn wrote

Wow. If I ever had to describe a budget of someone who “had their house in order” then yours would be it.
Excellent savings rate once you add up the 401k and stocks. Feels like you’re on your way to FIRE if you do this for ~20 years

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iBloxzy t1_j5nbitu wrote

Excellent saving and investing this year. Well done. Also congrats on getting engaged! (I think?)

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Astronomicone t1_j5nhq36 wrote

Finally, someone who makes one of these that can budget their money well

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B6S4life t1_j5kojia wrote

How on earth was your electricity cost so low? Do you have solar?

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cash_is_key OP t1_j5kp1vi wrote

No solar. We live in a 1-bedroom condo. Not as many lights or appliances as a house. And it’s a lot cheaper to heat or cool a smaller space

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chunk-the-unit t1_j5om90z wrote

Are some of these expenses split with your partner, or are they the full cost for the year?

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cash_is_key OP t1_j5orbui wrote

This diagram displays my portion of the expenses. For example, our total WiFi cost for 2023 was ~$640 and my share was ~$320

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Square_Tea4916 t1_j5kp7tw wrote

Love including the Credit Card and Savings Interest Income! Very detailed and disciplined.

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Skurploosh t1_j5l2ndx wrote

Do you eat your receipts? How the hell did you eat for a full year on $600 -ish?

Do you buy rice and grow your own vegetables? Do you scavenge road kill? What is your secret?

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cash_is_key OP t1_j5l32e0 wrote

I spent ~$5,065 on groceries (unprepared food and household supplies) and ~$635 on prepared food (restaurants and fast food)

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Skurploosh t1_j5l3ewi wrote

Nevermind the fact that I casually glanced right past that tid bit haha. That's quite a bit more reasonable.

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Major-Permission-435 t1_j5mi2m5 wrote

Still… it’s January 23rd, I’ve been keeping what I thought was a tight hold on my finances and I’ve spent $140 on meals out. Which isn’t counting 3 meals that my mom treated me to 🙈.

So that’s pretty impressive.

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Zeddicus11 t1_j5l906n wrote

Congratulations!

Just a question: Are the "savings" all just cash in a HYSA, and are the "Stocks" in a regular brokerage account? Maybe diverting part of that to a Roth IRA could be useful as an additional long-run bucket besides the 401k (once you feel like you have an adequate emergency fund in cash). Unless of course if you're saving for a down payment on a house or something. In any case, very solid budget.

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cash_is_key OP t1_j5l9xmv wrote

Thank you. And yes, my savings are primarily in a HYSA and stocks are split between an employee stock purchase plan in E-Trade and a regular brokerage account in Schwab. We are currently saving towards a down payment on a house

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tugboat50 t1_j5pftbe wrote

633 on eating out. That may cover a month for me 😅

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90sPixel t1_j5sm2b4 wrote

Congratulations on engagement! Hope it went well!

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Feet2Big t1_j5lyail wrote

I need to know what that $42.13 in "Miscellaneous" is.

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