How much do you guys spend per month on fun personal expenses without daily food, travel, house, mobile subscription, or medical? If I were around 20 to 27 years old, how much should my monthly budget be for personal fun stuff like new tech, clothes, or outings with friends? I’m making a decent salary, around 40k soon with a new job. Since I live with my parents, they handle most expenses and want me to save money. I’m curious about the average! I’m thinking of spending about 600 per month. Not all at once, of course—I want to save up for musical instruments and an upcoming concert abroad. That would be around 8000 a year with my 600 monthly budget. Let’s also factor in emergency expenses. Just to clarify, I have my savings, pension, and investments planned! I’m considering how best to allocate my 40k. I want to buy a house in the next two to three years. Any advice would be super helpful. Thank you!
Gadgets and gizmos are part of my hobbies. I spend way too much money.
I budget $350 a month on ‘fun,’ which includes eating out and things I want on Amazon. I live in the US South and make 95k. For 40k, $600 sounds like a lot, especially if you’re planning to buy a house soon. My $350 doesn’t include emergencies since I save separately for those.
About a quarter of my monthly pay goes to unnecessary stuff. الحمدلله
I think your plan is solid! Just make sure you’re not overspending on fun stuff if you’re serious about buying a house soon.
Have you thought about cutting back on some of the fun expenses? It’s good to enjoy life, but balance is key if you’re saving for a house!