Here’s my 2024 budget review
These are my main bills before regular expenses like groceries and gas:
2024 （net $51,696)
$5,068 Average on bills/month
1. Subscriptions
-Hulu $20
-Planet Fitness $11
-Legal shield $25
2. Must-haves
- Insurance $190
- Rent $1540
- Electric $200
- Internet $95
- Child support $963
3. Work travel
- Plane $700
4. Annual
- Mile card $95
- Costco $60
- Amazon $140
- Alaska Lounge $450
- KeepSafe $36
5. Deductions
- Health Insurance $543
Please help, be brutally honest. I need to get my finances right, I grew up in a bankrupt home and don’t want the same for my kid. The reason I came up with the idea to write it out is because I wanted to see what I could get rid of to start a savings plan for him.
Creating a functional budget is crucial for financial stability. In 2024, my projected net income is $51,696, averaging $5,068 monthly in bills. My budget includes subscriptions, must-haves like rent and insurance, work travel expenses, and annual costs for memberships. Reducing unnecessary expenses often leads to significant savings. For instance, consider evaluating your subscriptions—streamlining these can free up funds. I also emphasize the importance of planning for mandatory expenses such as rent and groceries. Additionally, prioritizing savings is essential for long-term financial health, especially for those wanting to break cycles of financial distress. Resources like budgeting apps can enhance tracking and management of expenses. Seek feedback from others, as shared experiences can provide valuable insights. By sharing my journey, I hope to motivate others in similar situations to take charge of their finances and make informed decisions that will benefit their families.
If you still have money left to put towards savings I say you're doing well that Alaska lounge is no joke but I get why you keep it as a frequent flyer.