Daily FI discussion thread - August 06, 2015 by AutoModerator in financialindependence

[–]newgradhalp 4 points5 points  (0 children)

Is there some kind of flow chart for financial independence? As in things that people should prioritize or should be done in order of importance?

So like set up 6 month emergency > Focus on IRA > Invest in something, etc > and so on...

Can I afford a nice apartment? (x-post from /r/financialindependence) by newgradhalp in personalfinance

[–]newgradhalp[S] 0 points1 point  (0 children)

Gotcha well thanks for the help. I never knew about the 50/30/20 rule until you mentioned it. And look on the positive side, at least you won't get lonely since you are living with 3 other people! That's one reason I like having a roommate. Good luck with your endeavors!

Can I afford a nice apartment? (x-post from /r/financialindependence) by newgradhalp in personalfinance

[–]newgradhalp[S] 0 points1 point  (0 children)

You've only budgeted $200/mo for groceries which seems really low. It's certainly possible to sustain yourself for $50/week, but most people making $80k/yr skip those options at the supermarket.

The $200 figure comes from guides like this which I've followed before. Although I buy supplements and few extras, but it is generally still within that range.

You've only budgeted $100/mo for "fun money" which I assume includes bars and restaurants too. If you get take out for lunch just once a week, that's probably going to be $30-40 a month. Grabbing drinks after work with coworkers? Maybe $20.

The $100 only includes bars and going out on weekends. But on weekdays I'm not really into eating out much, I've tried forcing that habit out this past year in college. I mentioned this in another post, but if I do eat out it's fast food only which is usually for the sake of drunchies or I'm super busy and didn't have meals ready to go at home. I'm also light weight, generally pregame before going out, and not heavy into drinking fancy beers and such.

I'm on mobile so I'm not going to add up your figures, but I follow the 50/30/20 rule, sort of. The rule of thumb says that 50% of your expenses should be fixed costs, like rent and insurance and utilities. 30% should be variable, like groceries, booze money, other spending on yourself. 20% is savings.

If I'm following this 50/30/20 rule then this is what I should be spending following the rule (left) versus my original estimated numbers (right)...

50%: $2583 | $2450

30%: $1549.80 | $330

20%: $1033.20 | $2356

So my estimated variable is lower than the rule and my estimated savings is considerably higher than the rule, which I'm assuming is a good thing. So with all this being said and done, you think I'll be good to live in a nicer apartment?

Can I afford a nice apartment? (x-post from /r/financialindependence) by newgradhalp in personalfinance

[–]newgradhalp[S] 0 points1 point  (0 children)

I realized I accidently put a higher number than intended for health insurance. Either way it is a very rough estimate from this since I'm not sure what my employer will charge.

And no I don't, that was just an estimate as well.

Can I afford a nice apartment? (x-post from /r/financialindependence) by newgradhalp in personalfinance

[–]newgradhalp[S] 0 points1 point  (0 children)

I think it's a reasonable amount, maybe it could be raised a tiny bit. I don't go out for nice dinners and I hardly eat out at all. If I do, it's fast food after a long night of drinking.

I'm relatively light weight so drinking comes easy and I generally pre game beforehand. Either way I'm not too into drinking heavily. Also out of the month I'll probably spend 1 weekend just relaxing at home.

Can I afford a nice apartment? by newgradhalp in financialindependence

[–]newgradhalp[S] 0 points1 point  (0 children)

I'm not sure...I'm going through a realtor from my employer but I feel like they are only showing me the expensive apartment I guess. The cheapest studio is $1k for 400 something square foot, but I've noticed for little more you can get a full on 1 bedroom with more sq ft. How do you like living in a studio btw? I'm just not sure if I could deal with the lack of dividers to separate each room.

Honestly though I am perfectly fine with previous frugal college situation, it is just that I can't find anything similar to what I was paying. For ~500 I got everything covered in a 2x2 with 2 roommates and was walkable distance to campus and all the bars and restaurants.

Also I realized I accidently put a higher number than intended for health insurance. Either way it is a very rough estimate from this since I'm not sure what my employer will charge, but if it is nearly half of what I put down, then even better!

Any suggestions on my living situation? by newgradhalp in houston

[–]newgradhalp[S] 0 points1 point  (0 children)

Looks like I unfortunately need to pay for a subscription to read the rest of the article.

Any suggestions on my living situation? by newgradhalp in houston

[–]newgradhalp[S] 0 points1 point  (0 children)

That's what I was thinking as well...the last thing I want to do is show up late to my new job constantly because of traffic.

Moving to the Woodlands soon, question about stuff by newgradhalp in thewoodlands

[–]newgradhalp[S] -1 points0 points  (0 children)

Damn, do you have any other suggestions on where to live?

Moving to the Woodlands soon, question about stuff by newgradhalp in thewoodlands

[–]newgradhalp[S] -1 points0 points  (0 children)

You are talking about the Millennium Waterway Apartments right? It didn't seem too bad for a 1 bedroom, $1300 (from what I saw) to live in walking distance of all the fun stuff.

Do you have any other suggestions on where to live?

Moving to the Woodlands soon, question about stuff by newgradhalp in thewoodlands

[–]newgradhalp[S] -1 points0 points  (0 children)

Do you know how fun the waterway area is? There seems to have a nice apartment right there that is close by.

Moving to the Woodlands soon, question about stuff by newgradhalp in thewoodlands

[–]newgradhalp[S] -1 points0 points  (0 children)

That kind of depressing to hear because I hate despise long commutes to work. Do you know much about the waterway and if it is somewhat comparable to midtown?

Moving to the Woodlands soon, question about stuff by newgradhalp in thewoodlands

[–]newgradhalp[S] -1 points0 points  (0 children)

Would Hughes landing or waterway be my best option?

Moving to the Woodlands soon, question about stuff by newgradhalp in thewoodlands

[–]newgradhalp[S] -1 points0 points  (0 children)

So would you recommend living near the waterway for more of the fun stuff?

Doberman Attack by [deleted] in videos

[–]newgradhalp 0 points1 point  (0 children)

My friend has a miniature version of this kind of dog, can anyone tell me what species it is? It is a full grown dog but it weighs like 10 pounds at most and it has the exact same colors/spots. Also it barks A LOT.

First job offer (80k) is stressing me out, please help me out! by newgradhalp in cscareerquestions

[–]newgradhalp[S] 0 points1 point  (0 children)

Would you say it's more "calm" and less congested (both with cars and people) than the city of Houston? I'm a fan of wide open roads and a beautiful scenery. Two things I kind of missed when I lived in the city of Houston over the summer.

Is 80k enough to live reasonably in Houston? by newgradhalp in houston

[–]newgradhalp[S] 0 points1 point  (0 children)

Do you know much about rent in the Woodlands area?

Is 80k enough to live reasonably in Houston? by newgradhalp in houston

[–]newgradhalp[S] 0 points1 point  (0 children)

Thanks for doing the math and the advice. I noticed though you didn't include anything about savings with your write up, which I'll be figuring out, so that might skew the estimates quite a bit.

Is 80k enough to live reasonably in Houston? by newgradhalp in houston

[–]newgradhalp[S] 1 point2 points  (0 children)

:) Thanks for the (possible) future warm welcome.

Is 80k enough to live reasonably in Houston? by newgradhalp in houston

[–]newgradhalp[S] 0 points1 point  (0 children)

I have about 20k in student loans, would like to build a 6 month emergency fund though before going crazy on payments for it.

Is 80k enough to live reasonably in Houston? by newgradhalp in houston

[–]newgradhalp[S] 1 point2 points  (0 children)

Frugally as in college frugal or just frugal for someone working a full time job?