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This was the first year I had a real job.
Before we started working, Sydney and I got pretty deep into exploring the strategies around investing[1] and how to handle money[2]. I'm glad we did that, since I'd never properly learned about money[3] and how to think about it.
I started work during the summer, so this for around half the year:
Total Income (pre-tax) $69,475.00 Total Savings/Investment $18,685.30 Total Spending $17,903.00 Excess Cash $6,443.70
Resulting in this breakdown:
Savings Rate 26.89% Spending Rate 25.77% Tax Rate 38.06% Remaining 9.27%
I was a bit nervous about letting the bank account get too low and investing every last bit, hence the large amount of excess cash. This year I'd like to hit a 40%+ savings rate, which should be doable with a bit of a reduction in spending and cutting the excess cash. Given Sydney and I were starting with pretty much nothing, we had to buy all the essentials to get set up, so a much slimmer spending rate this coming year is quite possible.
Last updated Thu Jan 20 2022 in Berkeley, CA
1: /thought/progress-and-the-stock-market.gmi