How am I doing with my budget?

General
1

Hi!

Could someone tell me how I’m doing with my budget and how I can improve?
I live in Europe, I’m in my 30s and I make about €1700. Currently trying to find a side income.

My monthly expenses are:

  • Rent 600
  • Utilities 150
  • Internet&Phone 45
  • Subscriptions 10
  • Groceries 250
  • Bars&Restaurants 250
  • Transportation 80
  • Dog 50
  • Enternainment&Shopping 150
  • Cigarettes 100

I know I should probably cut down on bars & restaurants and definitely quit smoking… But any advice on how I’m doing when it comes to my overall expenses? I’m trying to set a realistic budget with my income, one that I can actually stick to.

Thanks!

2

You answered your question! Vaping is cheaper than smoking and easier to quit. I save most of that money and limit dining out

3

Thanks for the advice! Luckily I don’t have debt and I have savings set aside.

4

For your income, your groceries and eating out seems high as a percentage (15% each) - groceries may be hard to reduce but eating out/bars is discretionary.

Are you saving anything?

5

I’ve saved from when I earned more, but sticking to a budget for discretionary spending is tough now

6

your bar/restaurant/entertainment/cigarettes is the budget of someone that makes three times what you make. But you already know it’s an issue

7

Kill the smoking before it kills you. You need a savings account. Try cutting your entertainment budget by a 1/3. Maybe eat at home more often?

8

I have some savings, but it bothers me that I’m not contributing anymore. I’m budgeting to cut $150 from entertainment

9

I’m not suggesting you live like a monk, but create a plan to quit smoking and reduce bar spending by a third. That’s $100 a month for savings. My favorite parent was a smoker who died at 65 from cancer; he could have lived another 20-30 years without smoking. You’re doing well—live a great life!