Submitted by silver_arcadia t3_ylb4ls in personalfinance
After following the 50/30/20 rule, I only have $500 dollars left. My 50% doesn’t include food. I’m basically living paycheck to paycheck. I have no money saved up. Should I just move back into my moms?
At this point I’ll never save enough or quick enough to buy my own house, I feel like a failure at this age.
Please be kind. I know that most of America is living paycheck to paycheck, but I feel hopeless and lost.
Net monthly pay: $4k
Rent: $1600
Car: $309
Phone: $120
Internet: $55
Light bill: $100
Car insurance: $198
Credit cards monthly: $80 (have 2.5k left to pay off)
Monthly subscriptions like Crunchyroll, Netflix, gym, pet insurance add up to $148
EDIT: The reason why my list doesn’t look complete is because I don’t know how much I am spending on gas and food. It varies a month. Maybe one month gas is $80 a month
And then groceries pretty much take up the rest. I spend around $200 on groceries per paycheck. That’s $400 a month. That pretty much goes the rest of my money.
EDIT 2: thank you so much for all the advice! I didn’t think so many would reply to this, definitely going to get back and reply to these soon.