While I do believe that many people here do have a spending issue, the solution isn't living with roommates as an adult nor is working 80 hours a week either. Every adult should have the capability to work 40 hours a week, provide food, shelter, and some entertainment at a minimum as well as healthcare. And I think we need to take a step back at society and realize that there is more to life than work. Yes, we need to be productive but 25% of our life being “productive” is plenty and no one should have to struggle.
So our 130k/year nets us a fully funded 15% retirement, 1 vacation a year, 6 months emergency fund, and the ability to buy used cars with cash. Mind you, we make DOUBLE the median household income in a MCOL area (Suburbs even). So I dove into my partner and my financial situation, where our mortgage is less than 15% of our gross and no car payment:
- Gross pay: 11,000 ($~130k/year)
- Deductions: $4,370
- Taxes: $2,420
- 401K: $1,100
- Additional Investments: $550
- Healthcare & HSA: 300 (hers, mine is provided)
- Home Expenses: $1,830
- Cleaning Service: $180
- Mortgage: $1,400
- HOA: $200
- Misc Charities: $50
- Utilities: $805
- Cell phone: $120
- TV+Fiber: $250
- Electric: $200
- Gas: $100
- Water: $60
- Trash/recycling: $75
- Travel Expenses: $810
- Toll roads: $105 (to and from work)
- Gas: $350 (My car takes premium hers doesn't)
- Parking: $175 (me for work)
- Car Insurance: $180
- Dog Expenses: $715
- Dog's Insurance: $75
- Dogs Food: $250 (specialty food for his GI issues)
- Dog's supplements: $110 (probiotic, flea, tick meds, etc)
- Dog's Medicine: $30
- Dogs Daycare (twice a week): $250
- Misc Expenses: $1100
- Misc subscriptions: $50
- Food, toiletries and misc household items: $500
- Life Insurance: $110
- Multiple charity Donations: $500 (~5%)
- Left Over: $1,370
- Savings Contribution: $1,000
- Left over to spend/eat out: ~ $350-400