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Where is my money going?

May 16, 2008

I was playing with Excel a few days ago and made up some charts on where I estimate my salary goes. Here is a rough breakdown: (Dept is Debt, which is my student loan. I am too lazy to fix my typo. :))

Essentials = Rent, Food, Gas, Insurance and Car
Fun = Entertainment, gifts, computer, internet/cable, and travel

The tax portion is a bit inflated, I think. Last year my effective tax rate was only 17% but that was in a state with lower taxes. Then there is sales tax… Well, who knows?

Here are the details as estimated by me, though it gets a little meaningless with all the 1% categories:

I wonder what my chart would have looked like when I lived in the much cheaper area in the Midwest. My salary was lower, but my rent was only 12% or 13% of my salary. Did I save more, or just spend more on non-essentials? Probably a little bit of each. When T and I get a place together (maybe in a year) the rent percentage will drop to a level I’m more comfortable with (maybe 17%), and maybe the savings level will increase.

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6 Comments leave one →
  1. May 16, 2008 12:08 pm

    Its beautiful!! (lol…sorry, I’m an excel nerd.) I don’t know how it never occurred to me to do this though. I’m making my own this weekend. Thanks for the idea!

  2. May 16, 2008 12:16 pm

    Hehe thanks! I am sure I;m not the first to do this. Really the information is largely the same as my budget breakdown, but this includes taxes. And is prettier!

  3. May 16, 2008 12:21 pm

    sweet! I make these things all day long at work in google documents, spreadsheet after spreadsheet of what if’s and current stuff, keeps me motivated / not as bored at work 😉

    on a side note you can use google to make these charts pretty easily too, basically you just change the values in the URL

    ie:

    http://chart.apis.google.com/chart?cht=p3&chd=t:60,20,15,5&chs=350×100&chl=Mortgage%2060%|Car%20Loan%2020%|Credit%20Cards%2015%|Line%20of%20Credit%205%&chco=ea3000

  4. May 16, 2008 2:28 pm

    Thanks for posting the graph 🙂

    I do that all day at work too.. staring at my debt, my budget…. 😛

Trackbacks

  1. My Budget « QuarterLife Finances
  2. Jumping on the bandwagon « Paranoid Asteroid

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