I am 25 and live in the suburbs of a major US city. I’m a “High Earner Not Rich Yet” mostly because I just started earning more than a couple thousand dollars a month in the last 18 months or so. I’m in 100% commission sales and my income goes from $0 to periods like June/July this year where my pre-tax income was $90k each month. I grossed about $345k in 2021 before some work related expenses. Probably more like $225k gross income. This I’ve already earned that much and will probably end up doubling up but I really spent too much the first half of the year (I’ve stopped doing that the last couple of months)
I have a house that’s worth about $600k with a mortgage around $450k on it. I have an “emergency fund” with like $10-20k in it depending on how long it’s been since the last time I’ve been paid and I max my retirement accounts. No student debt. 1 car note and a lease for my spouse.
I just find budgeting my income a daunting task because of a few reasons. Some of its lack of discipline and spending most of what I make except for what’s gone to retirement accounts. And feeling like I’m on top of the world and earning a ton and then not earning anything for a couple of months. My income is getting more predictable the longer I do my job but I’m not “there” yet.
Does anyone else have a similar situation and can share from experience? All other advice is also welcome. Thanks for your help!
I have a house that’s worth about $600k with a mortgage around $450k on it. I have an “emergency fund” with like $10-20k in it depending on how long it’s been since the last time I’ve been paid and I max my retirement accounts. No student debt. 1 car note and a lease for my spouse.
I just find budgeting my income a daunting task because of a few reasons. Some of its lack of discipline and spending most of what I make except for what’s gone to retirement accounts. And feeling like I’m on top of the world and earning a ton and then not earning anything for a couple of months. My income is getting more predictable the longer I do my job but I’m not “there” yet.
Does anyone else have a similar situation and can share from experience? All other advice is also welcome. Thanks for your help!