Moving out - please look over my budget

Costs:

Rent + Util: $1450

Food: $400

Gas: $120

Car insurance: $100

Entertainment/Dates: $200

Phone: $50

Subscriptions: $55

Misc: $100

Internet: $65

Future Planning:

Roth IRA: $500

401k: $558 (10%)

Index Fund: $300

Vacation Fund: $200

I gross ~$5500 and take home ~$4400. According to these estimates, I would be left with an extra $300-400 every month. Does this look good? Am I missing anything? Also, I already have an emergency fund with 6 months.

It looks good to me, especially that you have moving expenses and an emergency fund already, so you won’t be in a pinch. Do you have any debt?

No debt :+1:

Car insurance looks low, especially if you are young. The Misc budget seems low too; $100 likely won’t cover household items, haircuts, car maintenance, etc.

You might want to set aside money for oil changes, clothes, and household items. If this is your first time living on your own, you could blow through that misc fund quickly.

Everything looks solid. Consider shopping for better phone plans; you might save extra money for fun or travel.

I suggest making a master list of everything you need to replace or repair in your home. Planning for future expenses is key.

Looks good, but the Roth should be $583 a month to match the $7,000 limit.