Questions for you
This is where you configure how much you want to divvy up your money.
Income
How much do you make (after taxes are taken out) every month?
How much do you make (after taxes are taken out) every month?
Examples:
Your answer (edit this):
Every Month
$5,400
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Fun Fact: This is median take-home pay in Seattle as of January 2021.
89% of the $72,702
Necessary Expenses
How much do you spend each month on @Necessary expenses ?
How much do you spend each month on ?
@Necessary expenses
Examples of :
@Necessary expenses
Note: If you spend $600/year on something, add $50 per month to the total for it.
Your answer (edit this):
Every Month
% of Income
$1,200
22.22222222222222%
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How many months of @Necessary expenses do you want to save in your Emergency Fund?
How many months of do you want to save in your Emergency Fund?
@Necessary expenses
Your emergency fund is there to cover unexpected like an unexpected medical bill, flat tire, etc. It’s also there to help you get if you were to suddenly lose your income (which is more likely to happen at the same time as a big unexpected bill!) As a result, it is generally a good idea to have at least 6-12 months in an Emergency Fund before you relax your spending.
@Necessary expenses
Your answer (edit this):
Num Months
Total Amount
6
$7,200
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Dividing discretionary income
Since you’re making per month and spending on , you have per month in “discretionary income,” which is the amount you get to choose how you spend or save every month. How do you want to split this up?
$5,400
$1,200
@Necessary expenses
$4,200
While you fill up your Emergency Fund, what percent (%) of your discretionary income should be spent on @Optional/fun expenses ?
While you fill up your Emergency Fund, what percent (%) of your discretionary income should be spent on ?
@Optional/fun expenses
Your answer (edit this):
Percent (%)
Per Month
20%
$840.00
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Examples of :
@Optional/fun expenses
The lower this number is, the faster you’ll build an emergency fund and savings.
While you fill up your Emergency Fund, what percent (%) of your discretionary income should go to @Long-term savings/investments ?
While you fill up your Emergency Fund, what percent (%) of your discretionary income should go to ?
@Long-term savings/investments
Your answer (edit this):
Percent (%)
Per Month
30%
$1,260.00
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The remainder of your discretionary income goes to build your Emergency Fund.
Once you’ve got enough in your Emergency Fund, what percent (%) of your discretionary income should be spent on @Optional/fun expenses ?
Once you’ve got enough in your Emergency Fund, what percent (%) of your discretionary income should be spent on ?
@Optional/fun expenses
Your answer (edit this):
Percent (%)
Per Month
50%
$2,100.00
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After you fill your Emergency Fund, the remainder goes to .
@Long-term savings/investments
Configuration
Summary of your answers
Question you answered
Every Month
Num Months
Percent (%)
Per Month
How much do you make (after taxes are taken out) every month?
$5,400
$5,400.00
How much do you spend each month on ?
@Necessary expenses
$1,200
$1,200.00
How many months of do you want to save in your Emergency Fund?
@Necessary expenses
6
While you fill up your Emergency Fund, what percent (%) of your discretionary income should be spent on ?
@Optional/fun expenses
20%
$840.00
While you fill up your Emergency Fund, what percent (%) of your discretionary income should go to ?
@Long-term savings/investments
30%
$1,260.00
Once you’ve got enough in your Emergency Fund, what percent (%) of your discretionary income should be spent on ?
@Optional/fun expenses
50%
$2,100.00
How much should go to your emergency fund each month?
$2,100.00
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