How much can a single 22 year old expect to save from a $100,000 salary in california?

Credit and mortgage advice Forums Home Insurance How much can a single 22 year old expect to save from a $100,000 salary in california?

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    • #387597
      Anonymous
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      I am moving from my hometown to california on account of a recent job offer.
      I don’t plan to buy a car/house for the first 3 years of my stay and I’ll be living with a room-mate in a rented apartment (planning for a 2BHK home).
      I heard effectively I get $ 60,000 in hand after the 40% tax cut so that leaves $ 5000 for monthly pay.

      expected budget:
      rent: 1100 (my half of the rent)
      food: 300 (pure vegetarian budget)
      clothes: 100 (I don’t really shop much. I think $ 100 should be fine)
      401k/emergencies/repairs/expenses: 1000 (i got life/medical/health insurance covered by my company)

      and thus save $ 2500 every month. My goal is to save atleast $ 30,000 every year.

      i) Does my above budget look feasible? Can you suggest a different budget which can help push more into my savings?



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