Hey everyone, I’ve been working on my budget for a $50k salary and wanted to get your thoughts on it. Here’s what I’ve got:
Groceries: $240
Enjoyment: $200
Gas: $200
Rent + Car Insurance: $1060
Savings: $1560
BJJ: $220
Total = $3480
Monthly Income = $3484
Does it seem alright or am I missing anything? Any suggestions?
Sounds good to me, saving far more than the usual desired 20%. I would recommend putting savings into a HYSA to let interest grow on it, and you can pull it out anytime you want. Also start looking into a Roth IRA and investing into long term investments so they can grow tax free. Start making the money work for you 
@Parker
Echoing this, if you don’t already have a Roth IRA, definitely open one! You’re saving such a good chunk of your income that it could work really well to divert part of that into a Roth.
Where are you going to pull money from when your car needs an oil change or new tires? I’m guessing savings is the answer. I’d utilize sinking funds and be a lot more detailed. Ideally in a full and complete budget you should never need to spend money from savings so you’d have money set aside each month in different categories for things like car maintenance/gifts/vacation/new car fund/etc
I have sinking funds for clothes, new car, vacations, car maintenance, and gifts that I add money each month to. It gives you a better picture of your true expenses over the long term by accounting for these things and you are better able to see how much is truly going into savings that won’t be spent
@Dez
Sinking funds. Never heard of that until now. Thank you.
Might have my savings go down to $1300, probably. Is that all that bad?
What is BJJ? Are you planning/budgeting for things like utilities, personal care/toiletries, clothing, car maintenance, car replacement, renters insurance, dining out/drinks (or is that included in Enjoyment?), phone, computer replacement, gift giving, medical/dental/vision costs, travel/vacation, and taxes. I was just scanning down my own budget and trying to list all sorts of things many people forget when budgeting.
@Quill
Brazilian Jujitsu, think of it as a home defense system.
Beckett said:
@Quill
Brazilian Jujitsu, think of it as a home defense system.
Got it! 
My question is, how do I budget a lot of these unpredictable expenses and how do I keep the money separate without having a dozen different savings accounts? Because right now I just try to put as much into my savings account each month and when an unpredicted expense comes up I pull out of savings.
50% savings, that’s nice!
How do you keep your groceries down to $240, seems very difficult now a days.
Your budget looks pretty good! You’re saving a good amount covering all your needs and still making room for things you enjoy like BJJ. You’re cutting it close with only $4 left but if everything feels manageable that’s awesome. Just make sure you’ve got some wiggle room for unexpected expenses.