Where is everyone putting extra money
Aside from regular bills, debts and other obvious deferrals, where is everyone putting their extra income? Stocks? Bonds? Any advice?
I’m bringing in about $9500 every two weeks, and my monthly expenses are about 4500. I’m going to be debt free in 3-4 months at this rate and wondering how I should use the extra 5500 per paycheck that’s freed up
Update: Some people have asked why my friggin expenses are so high, (yeah it suckssss) and a massive chunk goes to rent:
I live in San Francisco, my rent is 3000 dollars (which is slightly under median. I don’t even have a vehicle, if I did I’d be spending another 350 on a parking space, 150-200 on insurance and 400-500 on a car payment. Got rid of the car a few years ago.
Also that 9500k factors in max out of 401k at j1 and 7k Roth (also j1)
So 3k in rent
150 phone bill
200 utilities
150 internet and cable (have to pay premium for internet for OE)
50 for pet insurance
100 for life insurance
100-200 for public transportation and occasional Ubers
100 on gym membership
150 on various memberships, Netflix, Hulu, New York Times, uber eats pass, Amazon etc
250 a month on a big brother program. I give money to this volunteer program to help kids.
50 a month for church donations
I usually spend another 500 on entertainment and food