Thursday, May 15, 2008

Living on 50%

If things go well, I hope to have a new residence tomorrow. Assuming that it does, my finances will change a lot, since I'll take back on responsibilities for utilities, food, and rent.

In planning for this, my monthly, fixed bills will be just under half of my net salary. This includes rent, utilities (all of them, including internet and home/cell phone bills), and my medical retainer. I can then put away 1/3 into investments/savings, and reserve about 25% of my pay for groceries, transportation, and personal spending.

This is an allocation I feel comfortable living on for a fair amount of time. I hope to maintain this amount as my salary increases, so I'll be able to put a larger portion of my income towards saving over time.


  1. Sounds like you are primed to be a financial success! Good luck!

  2. I'm doing the same thing - living on one paycheck.. or at least trying to. The other half goes to debt :)