I understand this topic might lead to quite a few subjective responses, but I'm still interested to know what people think...
Thoughts on whether I'm leaving myself with enough after-tax cash?
disclaimer--> *rough draft breakdown below, I might have messed up some calculations*
Bi Weekly Paycheck breakdown:
Massachusetts, 25% federal, single, age 24
$2,192.31 gross bi-weekly(57K annual)
$328.85 401k Contribution(15%)
$200.00 Insurance(premiums plus max out HSA contributions)
which leaves me with about $1,200.00 per paycheck, $2,400.00 per month( Estimate based upon ADP salary calculators)
$800.00 housing expenses
$1,000.00-$1,200.00 living expenses(includes food, cell, travel, insurance, entertainment etc.)
Net income- Expenses= $400.00
My question, is this enough of a cushion? Or do I need to scale back HSA contributions or maybe try and spend less per month?
FYI I do have 6 months of emergency expenses in a checking/savings account.
If there's any other info needed, just let me know!