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Here ’s # 3 in the “ Real - Life Budgets ” series ! Because of the popularity of my monthly budget , I wanted to show some more variety with other real - life sentence budget for people in different circumstances .
I reached out to other blogger who were willing to partake their average monthly budget with you !
When we first started budget , it was difficult to find examples of real life budgets . I consider it can be helpful to see how others spend their money because you could call up about how you would tweak things based on your specific circumstance .
Each material - life budget in the series shows how much a budget can vary base on location , phratry sizing , dieting , precedence , income , debt …
you may take a look atour current $ 2500 per month budget here .
Sidenote : One of the very expert affair you could do to start getting a handgrip on your finances is cut through your spending ! you may download and publish my free outlay tracker printable and take action today !
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So far , I ’ve shared the budget of someearly retireesas well asa couple be in Bostonwith expectant next program .
Today ’s budget amount from Ricky at Money Hero . He ’s a unmarried cat in his 20s who is working hard to compensate off bookman loanword debt . I think budgeting can be especially hard when you ’re single because you do n’t have the possibility of two income or someone to split disbursal with , but Ricky is doing a fabulous chore !
Family Size : One grownup . Ricky is single with no kids .
locating : Florida
Job : Software Engineer
Ricky narrate me that his big precedency are his nest egg and pay off the $ 50k he owe on educatee loans . He used to live paycheck to paycheck but is now serious about his financial site and he cautiously tracks his disbursal .
Special Notes : I did not ask Ricky to partake his income or any tax that he has to pay . We ’re plainly front at budgeted spending . He did n’t include his 401(k ) part because those are pretax and do out of his paycheck . He also did n’t include his emergency brake fund . Ricky has a 3 - calendar month emergency fund that he does n’t currently contribute to .
I ’m go to let Ricky take it from here to explain his budget :
Rent : $ 845
Up until recently , I lived with one of my tightlipped friend and we were splitting a 2 - bedroom apartment . He ’s getting conjoin , so I ’m move into my own 1 - chamber , which is a mates of hundred dollars more expensive .
Car policy : $ 155
This one is killing me . This is for liability and the state minimum , and I do n’t have any collision reportage on my automobile ( my railcar is almost 10 year old ) . I had a pocket-sized chance event 2 geezerhood ago and my rates double . I ’ll be go up the point where my charge per unit overlook again soon .
Cable : $ 30
I use PlayStation Vue for cable system service of process , since it ’s much cheaper than buzz off it packaged through a cablegram company . I may end up canceling it , because I do n’t know if I actually watch as much television receiver as I think I do .
Phone Bill : $ 30
I have a discount rate on Verizon service through my employer .
cyberspace : $ 50
Internet service here is n’t too big ; the lowest $ 50 package is more than enough for my needs .
utility : $ 75
This includes electrical and H2O , which I actually pay one by one . This amount fluctuate depending on how much I really use . These utilities can range anywhere from $ 50-$80 .
Apple Music : $ 5
Got ta have my music . Apple Music is ordinarily $ 10 a month for streaming music , but is $ 5 with a valid student email destination .
You take a Budget : $ 5
dead necessary and worth the $ 5 / month for this budget app . Could n’t go without it .
Gasoline : $ 80
Student Loans : $ 370
$ 370 is the minimum requital I make to my student loan each month , but the amount I actually give varies . When I have no other debt or bill to pay up , I ’ll put as much as I possibly can to my student loans .
foodstuff : $ 200
Dining Out : $ 200
Looking to finally cut this routine down to $ 100 , then $ 50 .
Entertainment : $ 100
Movies , drink , sporting consequence , etc . Things that I do n’t do normally , but on occasion .
line Expenses : $ 37
These are monthly repeat expenses that I have for Money Hero . This includes PicMonkey ( $ 8) and ConvertKit ( $ 29 ) .
Roth IRA : $ 145
I use Vanguard for contributing to my Roth IRA , after tax .
HSA : $ 60
I ’m rosy in that I ’m reasonably intelligent , so I do n’t contribute too much to my HSA each calendar month . When I get my debt under control , I ’ll contribute more . I do n’t pay a premium for wellness insurance .
Miscellaneous : $ 200
Anything that I forget to budget for , or unexpected expenses . Car haunt , gifts , etc .
Total : $ 2587.00
Ricky is a personal finance blogger , entrepreneur , software engineer , and author and creator ofMoneyHeroBlog.com . He teaches people how to make do their finances and make money , save money , and build a profitable blog .
A heavy vast thank you to Ricky for sharing his budget ! I think he is doing an awesome job of focusing on knocking out his debt !
I jazz how easy it can be to let your income get eaten up so that there ’s nothing entrust to pay extra on debt . We have that struggle now sometimes . He ’s doing a great job of balancing the responsible for stuff like pay off debt , saving for retirement , and commit money into an HSA while still having some money to go out and have merriment with .
Ihave never tried YNAB ( though I ’ve heard about it multiple clock time ) and I ’m feeling inspired to try it out !
I get it on that he cite using PlayStation Vue for cable service ! We have used this on juncture when we wanted to get overseas telegram channels in ( commonly for the Olympics or when the conditions get rough and we ’re stuck inside in the winter ) . you may choose if you want it month to month ( no contracts ) and it ’s very low-priced . If you ’re bear a net ton for cable , I highly recommend looking into this .
I also discover his budget super interesting because his total expenses are very similar to ours ( around$2500 per month ) . It ’s amazing to see how someone else spends the same amount of money in different ways . This is a great example of how to budget to pay off debt !
Other Budget Examples :
How to survive on $ 2500 / Month
Our Actual Budget : live on Less Than $ 1500 / calendar month
The Fastest elbow room to produce Your First Budget
Our Unemployed Budget : $ 1200 Per Month
