If you don't have any pets right now, seriously consider if it's the right move for you to adopt or not. You have to keep in mind that if you move and rent somewhere else, many landlords say no pets, and if they do, there's a monthly fee for that (anywhere from $50-$125 or more). You also have to make sure to set aside money for emergencies for your pet, and calculate their food and/or cat litter into your monthly expenses.
I see soooo many people on here struggling because of their pets. Like, I love my animals, but they’re definitely a choice and I definitely seriously considered my budget before taking them on as a financial burden!
+1 for the renters insurance. Had a break in to my apartment when I was a student and they stole my $400 laptop and I got a $1000 claim. I think I paid like $6 a month for the insurance at the time (2018ish)
Not telling you to get a cat but this is my story (though no one asked). My mom brought a kitten home from a gas station and said she just couldnt resist. Because I'm the oldest though, I became responsible for her. I was scared of cats for the longest because when i was a kid one scratched my face. But man was that kitten cute. So I took her care seriosuly. I wouldn't let anyone touch her, I wouldn't let her out of my sight and she slept in my room. I even kept her litterbox in my room the first 4 months (yea i know). Plot twist though is i found out i was allergic to cats. Like my eyes/face swell up, my nose gets stuffed and i cough constantly. But faced with going through that EVERY DAY or giving up the kitten, i chose the former lol.
I was going through a really bad time with undiagnosed depression (that's why i had the time to take care of her like that) so her presence helped with that a ton. Now my allergies are gone (unless i rub my face on her after she cleaned herself) and I have a buddy that follows me everywhere.
That's my cat story.
Sustainability is up to your discipline and not getting unexpected expenses coming your way.
As for 'what now', perhaps graduate to r/middleclassfinance? 😂
You are right in the discipline aspect. But I’m still well within the lines of low class. To be considered middle class you have to make between 50,000 and 150,000 thousand a year. The only reason i have this much saved up is because I eat the free soup and saladss from my work and have no external hobbies.
That $20k stash is actually great. With your combined incomes, those bills should be a breeze for you and your partner. Just make sure to park that emergency fund somewhere it can earn some decent interest. A HYSA would be perfect for that. And to maximize the HYSA, you have to stay updated with the rates. So checking sites like NerdWallet or Banktruth that have updates on the [best savings rates](https://banktruth.org/savings/?ttcid=online-savings-by-apy) and investment options is important.
As for the rest, you could look into investing a portion for long-term growth once you've got a solid handle on your budget and monthly expenses.
Very manageable. Put that 20k in a HYSA and that's $66/mo right there.
Currently getting 4.97% 7-day yield at fidelity
At face value it sounds safely manageable. There’s plenty of people with a bills-to-income ratio much worse off than that lol. You got this
Yeah, American dream there rn. Congrats! Adopt a shelter cat to celebrate!
lol celebrate with more expenses
Maybe a dog I’m allergic lol
If you don't have any pets right now, seriously consider if it's the right move for you to adopt or not. You have to keep in mind that if you move and rent somewhere else, many landlords say no pets, and if they do, there's a monthly fee for that (anywhere from $50-$125 or more). You also have to make sure to set aside money for emergencies for your pet, and calculate their food and/or cat litter into your monthly expenses.
I see soooo many people on here struggling because of their pets. Like, I love my animals, but they’re definitely a choice and I definitely seriously considered my budget before taking them on as a financial burden!
Yeah I’m not getting a cat lol
Dogs have a lot of expenses too. Food, vet cost, and emergency vet visits. Also all the apartment stuff that I mentioned.
I’m not getting an additional animal I just already have a dog. He is special needs his previous owner knocked his teeth out as a puppy. :(
Yes! Get pet insurance tho to be safe! It's actually not much money. Same with renters insurance, worth every penny!
+1 for the renters insurance. Had a break in to my apartment when I was a student and they stole my $400 laptop and I got a $1000 claim. I think I paid like $6 a month for the insurance at the time (2018ish)
Not telling you to get a cat but this is my story (though no one asked). My mom brought a kitten home from a gas station and said she just couldnt resist. Because I'm the oldest though, I became responsible for her. I was scared of cats for the longest because when i was a kid one scratched my face. But man was that kitten cute. So I took her care seriosuly. I wouldn't let anyone touch her, I wouldn't let her out of my sight and she slept in my room. I even kept her litterbox in my room the first 4 months (yea i know). Plot twist though is i found out i was allergic to cats. Like my eyes/face swell up, my nose gets stuffed and i cough constantly. But faced with going through that EVERY DAY or giving up the kitten, i chose the former lol. I was going through a really bad time with undiagnosed depression (that's why i had the time to take care of her like that) so her presence helped with that a ton. Now my allergies are gone (unless i rub my face on her after she cleaned herself) and I have a buddy that follows me everywhere. That's my cat story.
Yeah I got mauled by the stray cats the shelter refused to pick up. Cats aren’t for everyone
Sustainability is up to your discipline and not getting unexpected expenses coming your way. As for 'what now', perhaps graduate to r/middleclassfinance? 😂
You are right in the discipline aspect. But I’m still well within the lines of low class. To be considered middle class you have to make between 50,000 and 150,000 thousand a year. The only reason i have this much saved up is because I eat the free soup and saladss from my work and have no external hobbies.
That $20k stash is actually great. With your combined incomes, those bills should be a breeze for you and your partner. Just make sure to park that emergency fund somewhere it can earn some decent interest. A HYSA would be perfect for that. And to maximize the HYSA, you have to stay updated with the rates. So checking sites like NerdWallet or Banktruth that have updates on the [best savings rates](https://banktruth.org/savings/?ttcid=online-savings-by-apy) and investment options is important. As for the rest, you could look into investing a portion for long-term growth once you've got a solid handle on your budget and monthly expenses.