Post # 1
Hey all! I have one year left of law school and I am trying to plan my budget for myself for when I graduate and start my job. I definitely have a good chunk of student loans too. I was wondering approximately how much you allocate to things like rent/mortgage, loans, car payment, gas, utilities, spending money, saving, etc.
I’d love it if you bees could post percentages or amounts compared to salary for how much you are spending monthly.
This is what I was planning on but I don’t know if it looks too idealistic or if I should allocate more in other places
Cable + Internet
Misc / Other Bills
Post # 3
I used this site called the Everygirl to help me with my budget. Your student loan budget will vary based on several factors, such as how much loan debt you have and what type of payment plan you have.
I live alone and saving up to pay for my wedding and paying for student loans hasn’t always been easy. Good luck!
Post # 4
Way to go on your last year of law school!
I still have my spreadsheets from when I was single and lived on my income alone. I have different breakdowns than you, but this is where my net income went (not including taxes). My loans were in deferrment as I ws doing a Master’s program, however, I paid them all off when I sold my house and moved in with my now husband. So I don’t have a student loan category.
42% mortgage, utils, gas, cable, phone, internet
20% miscellaneous (includes savings and random things like pet food)
5% auto, repairs, gas
2% health costs
1% eating out
Post # 5
- Wedding: June 2017 - Vegas Wedings
Your budget looks pretty good. Its hard to really know how good until you know what area youll be in. Gas, housing costs, utilities and fuel vary so much across the U.S.
My budget break down is below. Im focused on paying off my student loans and saving. Retirement and health is taken out pre-tax.
Mortgage/ taxes/ insurance 15.50%
car insurance 2.00%
personal/ eating out/ splurge 4.00%
emergency fund savings 13.00%
sinking fund savings (car and house maintenance, vacation, vet bills, gifts, etc) 15.00%
Post # 6
ETA: I can’t read!! I don’t live alone, so my budget isn’t valid here! 🙁