Help Me Budget My $39,500 Yearly Salary

Financial Challenges Forum
1

I need help budgeting my salary. Here are my details:

  • Yearly Salary: $39,500

  • Monthly Must-Pays:

    • Rent: $1,220 (I pay $610)
    • Internet: $100
    • Phone: $65
    • Electric: $200 (I pay $100)
    • Food: $100 on average
    • Occasional Lyft: $40-60

  • Wants:

    • PC gaming: $50 monthly
    • Extras: $40-50

I have no car expenses and only my credit card, which is paid off currently. Water and trash are included in rent. My biweekly pay is about $1,250. Any advice on how to allocate my salary?

2

Try using this budgeting sheet! It’s a small fee but helps categorize expenses and calculates your monthly budget automatically: Budget Tracker.

3

Check out the graphical-budget-planner app, which is free and open-source: Graphical Budget Planner. It works locally, keeping your data secure.

4

Do you have an emergency fund? Also consider your pets and any medical expenses. If you’re using Lyft, you might want to allocate more for transportation.

5

You can spend about $86 a week on food, Lyft, gaming, and extras based on the budgeting graph: View Graph.