Thanks for all of your comments and suggestions. Here is my budget, like I said, this is relatively new since I am now splitting rent and got a raise this month.
My take home pay after everything is 3600.00
rent $875
utilities $175
cell $55
perscriptions $85
groceries $200
eating out $100
misc. $300
savings $200
student loans - my minimum is $560/month and that only covers interest. I have been paying around $800 every month. Ideally, I want to boost this up to at least $1000.
If I can stick with the above budget, I should be able to put ~$1600 towards the loans every month. I am going to see if I can hit that goal this month.
I also forgot to mention that my food costs have gone way down since we stopped eating out. We used to go out at least 3x a week, now its 1x every two weeks. I am loving cooking at home now.
I have been looking for part time jobs but I am sort of limited in time. I work a pretty intense job from 7:30 until 5 and commute by train 45 mins each way. Also, I do occasionally have to travel for work. I am trying to seek out some type of work from home stuff, and will keep posting on craigslist. I am a lawyer and my job won't let me moonlight with legal stuff, but i can write, edit, tutor, etc.
My bf is being supportive, and splitting rent, home expenses, and food costs has been great. We have both noticed a savings in the food department. However, my bf has no student loans, a great income, and money in the bank, so he has trouble seeing why he needs a budget. He has the car in the relationship and pays all car related expenses, so that has been a big help for me.
It could be worse, I know. I keep thinking about how money was approached growing up. We were middle class, but never were in a tough situation because mom has been very successful in her job. We never talked about budgets, savings, planning ahead, education debt, etc. If I ever have kids, I am going to make sure that these life lessons are imparted from the begining.
Follow up
September 9th, 2010 at 07:11 pm
September 9th, 2010 at 11:36 pm 1284075364
This is one of the reasons my OD decided to go to diagnostic ultrasound school instead of law school, even though she had a criminal justice degree from Sacramento State. She knew it would cost so much. As it is, she was able to come out with about $30,000 in loans and really loves her job. She is kind of shy and did not think she would be good in a courtroom situation either.
I take it the $300 a month is for gifts, clothes, etc? What about retirement savings? Do you have a plan at work?
After working for 34 years I am recently "retired" and learning to cook too! DH did it all for most of our 32 years of marriage. I am really enjoying it and even started a cake decorating class. The woman sitting next to me is a lawyer with 2 little kids!
I don't know about a second job. I have seen friends get too dependent on the money. Besides I am a former workaholic and am paying physically for it now. Good luck and keep posting your progress and what's for dinner??