Hey all. I’m 25 and still living with my parents. I got a new job and I’m looking to move to California. My salary ranges from $60,000 to $65,000, and I’m considering studios. I want to move out by next August. What are some good ways to save?
Use a tool like Fina Money or Tiller to connect all your accounts and track your spending weekly/monthly. This helps you see where your money goes and prepare for rent and utilities in California.
Set a target amount for your moving expenses (like rent and security deposit) and start saving from each paycheck into a separate account. Cutting back on small expenses can add up, and automating savings makes it easier.
What are your current expenses? I can help draft a budget for you for free! DM me or respond here!
Track your incoming and outgoing money closely. Once you know your spending habits, adjust to save more. It’s about earning more or spending less!
Start with a written budget to cover necessities: food, shelter, utilities, etc. Subtract those from your take-home pay to see how much you can save for the move.
Check out r/personalfinance for budgeting tips and free spreadsheets. Manually logging transactions can help you see your spending clearly. Open a high-yield savings account to take advantage of current interest rates.
Aim to save half your salary if possible. Make a spreadsheet for your income and expenses to visualize your budget and manage variable spending.
Track your spending with apps like Habit Money. Setting realistic savings goals and automating them makes saving easier. Be creative with boosting your income, like freelance work.