Created using SankeyMATIC

Backstory: I moved back home with my parents mid-pandemic (hence why there's no substantial expenses like rent and food). This chart doesn't include my investment or retirement accounts. It also doesn't account for ~$950 of miscellaneous expenses I didn't want to categorize. My goal right now is to stow away as much cash as I can to hopefully purchase a home towards the end of 2023 (or if/when there's a major economic downturn).

I've been tracking my expenses for years using PearBudget. It's an app/service now but you can find the Excel template with a quick Google search, which is the one I use. My expenses were already categorized in PearBudget so it was a matter of summing them up for input in SankeyMATIC.

A few things stood out to me after seeing the visual representation of my finances.

• Uncle Sam has his hands deep in my pockets (lol). I file as single so that's kind of to be expected.

• I don't eat out that often. It was interesting to see that the handful of dates I went on this year comprised ~30% of that expense! Dating is expensive (and emotionally draining!)

• Emergency dental visits suck! Had a crown come out and had to get that fixed/redone. Brush your teeth 2x/day, floss, WaterPik, etc. people!

• In an age of subscription services galore, I somehow only still have one.

For clarification:

• Luxury goods are exactly that. A designer brand wallet, sunglasses, Tactile Turn pen, etc.

EDIT: Ah crap, I accidentally left out 1 month of pay. Spending figures should still hold true. Revised the savings. Revised chart for those curious.

Impressive savings discipline. You damn millennials (I mean that lovingly) are going to be at the top of the food chain while us Gen Xers will still still be paying off our mortgages all because you decided to stay home a little (a lot) longer after school. Fuck you (necessary). But good for you 😜. I make more than twice the amount you make and my rate of savings/investment (excluding 401k) is less than a quarter of yours.

That's a very strange dog dressed in pink shorts, socks and wearing a green and red top

Fuck you too pal! (jk)

I'm in a very unique situation, but I understand not everyone can move back home (or stand it for that matter). It's got its drawbacks but I digress.

lol...I don't see it

I see a long wavy scarf though!

If I went through and looked, I wouldn't be surprised if mine looked almost exactly the same LOL. Must be a California thing.

Like a dog jumping, with his front legs pushed back

I also see something else I'd rather not say 😅

[deleted]

Haha, what gave it away?

Impressive indeed. For the record, Uncle Sam is pretty lenient with his taxes. For a first world country to get more than 50% of your salary in net income seems luxurious to many Europeans.

Then again, we don't generally need to save as much for medical bills, if I understand correctly.

[removed]

Damn that having no rent looks so nice

Don't worry, we all eventually pay our dues. Mine will be in the form of a 30 year mortgage :/

If I’m reading this correctly, you’re spending around $100 per month on food between groceries and eating out. If that’s the true figure, you should make sure you incorporate growth in that area on your future expenses when you’re on your own.

Great discipline overall, and be sure to get your parents something real nice down the road :)

When I was living on my own, I was spending between $150-200/mo on groceries and eating out. I'm a simple man. 50 lb bag of rice, bulk spinach, chicken thighs, and eggs goes a long way.

>be sure to get your parents something real nice down the road :)

You know it!

That's the way to do it. Before I got married, I used to have tuna/hamburger helper quite often to stretch the grocery dollar as far as I could. Let's just say that marriage changed that a bit (for the better).

FWIW, we budget $500 on groceries for the two of us. Eating out is a bit more variable, but we consider that a bit on the entertainment side. We recently moved into our first house a few months back, and if you can nail down a cheap garage fridge/freezer, the extra space goes a long way towards freezing meat that you can buy when it's on sale.

Keep up the great work and good luck on the future housing hunt!

Where do you do these graphs?

https://sankeymatic.com/build/

You have to set up your inputs like this:

// source [AMOUNT] Target

You spent $234 on gas the entire year?

Yes. 2 factors behind the low costs:

a.) I'm on a remote-centered work schedule meaning I only have to commute to the office 1x/week.

b.) I drive an alternative fuel vehicle, specifically a compressed natural gas (CNG) vehicle. Typically CNG is 1/3-1/2 the price of gasoline. When gasoline spiked to over $5 or whatever it was, I didn't even blink. I was filling up for around $1.89/gge. [Filled up for even cheaper in March/April for $1.26/gge and $1.30/gge]. A "full tank" of gas costs me me $7-10 and gives me 250 miles of range.

I also track my driving/fuel-ups for the year and here are some numbers.

• 2022 Total Miles Driven: 4832

• Total Fuel Cost: $234.55

• Cost/mi: $0.049

Yeah, just your typical millennial earning in the top quintile, no current housing costs, and spending $10.59 a week on groceries.

I never said this was typical (far from it!). Just a millennial, not a typical one. When I was living on my own groceries/eating out were around $150-200/month.

No rent/housing cost is a god send. It is the single most drain of pretty much everyone’s budget so to not have it, milk that for as long as you can as larger down payment will avoid interest costs and frankly just cost of owning a house with repairs/taxes.

It truly is the biggest expense for most people. I have a 20% down payment for my high COL area but the bidding wars have been quite crazy. It's not uncommon for folks to be outbid $50-100k last minute. I want some wiggle room with the extra cash on hand + 20% down.

Much better than the other guy who spent 8k a year on weed...

Haha I mean everyone’s got their vices….some maybe a little more expensive than others. Also happy cake day!

If I had spent 8k on weed in my prime time of smoking it better have come from the home grown greenhouses of Canada or something 🤣. You're right though, everyone has their vices.

How come you don’t contribute to the running of the household?

> You damn millennials (I mean that lovingly) are going to be at the top of the food chain while us Gen Xers will still still be paying off our mortgages all because you decided to stay home a little (a lot) longer after school

Millennials are now 40 and older. We're not young, and most of us A, don't make 90k. B, Sure as fuck don't have a pension or union, and C, are FORCED to live at home because we don't make enough. This guy is an extreme exception to the rule and I hope he gets his house. Most of us however are fucked way harder than Gen X is.

[removed]

I know exactly .. what you mean

That’s still very low for both groceries and eating out per month. But if that works for you then great!

[removed]

Then the title should probably read "a total outlier" instead of "a millennial". This post borders on outrage bait.

Do you only pay dental and vision? It says Medical but it isn't.

I do in non-monetary ways. Cook, clean, house maintenance etc. My parents still work and really want me to focus on saving for a house of my own.

Those were out of pocket expenses I had to pay this year not covered by my dental or vision insurance. I have traditional health insurance too as shown in deductions. Had a couple of immunizations but those were all covered with no co-pay.

Sorry, it wasn’t my intention to rub people the wrong way. Just sharing a data point. Again not representative of any group or anyone. I should have added the “living at home” part in the title.

Change your withholding. You're giving the federal government a $4000+ interest free loan you could be investing/saving.

Bidding wars are over boss

What’s your savings goal for the house? How much house are you going to buy?

I’m not sure there’s anything else I can change. I file as single and can’t claim anything else.

[deleted]

Ah, gotcha.

No rent and effectively no gas or food costs either. Must live at home and that is ok too. We encouraged our kids to move back home after school to save some cash before moving out. It cost us almost nothing and it really made a difference when they did move out. I used to say, “It’s fine with us as long as you capitalize on the opportunity to save some $$. And if we do this right you won’t want to stay, and I won’t have to ask you to leave.” 😉

Goal is around $200k. I live in a high COL area so anything under $1M would be a win. Realistically 3b2ba for $7-800k would be nice.

You may be able to talk to your employer and ask about how they calculate withholding. You may be able to put into their system you have 1 dependent or more, but file without those dependent at tax time. Their system usually provides an estimate of your taxes, but it's just an estimate. There is no way for your employer to know about your other sources of income outside of your employment (hence why you file). I once worked an extra job where I only made a few thousand, and so my withholding was very small for that job. Your only danger is you might get fines for underpayment depending on the state. Also talk to an accountant, not take advice from weird people on the internet without question. :)

You don’t pay anything for housing? Like even if you still live with your parents you make over 90k and don’t give them anything? Not even groceries or utilities (I know for a fact that grocery figure doesn’t cover the whole family).

Genuine question—are you parents wealthy? If not I can’t help but feel like this is kind of shitty.

Also frankly it’s almost annoying that you made this post. This isn’t about financial discipline, it’s about extremely fortunate circumstance. The rest of us don’t have this option, so it’s kind of just bragging about generational wealth. I’m sure you did something to earn your salary, but beyond that this is just a visualization of life on easy mode.

[removed]

The ability to move back home in and live rent-free while saving for a house is a luxury that you are wise to take advantage of. Big ups to you.

No I don’t, which is primarily why I’m able to save so much. The grocery figure was only for a couple of months when they were out. A more accurate figure would be $150-200 which is what I was spending when I lived on my own.

No my parents aren’t wealthy but the house is paid for and they still work part time. Again it might be a cultural difference but they insist on me saving everything I can towards a house of my own. They won’t accept my monetary “contributions”.

Sorry if this rubs you the wrong way. I was simply just trying to show a data point. Not meant to representative of anything.

This is definitely not generational wealth. Parents immigrated to the US in the 70s with barely anything and houses back then were around $100k. They worked hard and chipped away at the mortgage like every other working class American.

Not going on too many dates are we?

The struggle is real! 🤷‍♂️

Well good for you and your parents, genuinely. I don’t mean to sound bitter about it, I’m just not sure what we’re supposed to gain from this. It doesn’t inform anyone of any potential spending habits other than “man it would be awesome if I had no bills.”

I make even more than you do and it will take me several years to save what you do in one. Just not sure what sort of feedback you’re looking for on this. Making it is one thing, posting it is another—it implies that you want engagement. But what sort of engagement did you imagine? Pats on the back and jealousy? Genuinely curious

Also FYI you should be aware that this is generational wealth. It may not be a 7 figure inheritance, but it is your previous generation providing you with a huge leg up on your peers to enable you to own more than you would have on your own. No shame in that, but that’s what it is. Be happy and grateful, but make sure you never brag

My current experience as well. Good luck to you

Seems like you’re overpaying your witholding significantly on your taxes if you’re getting almost 5k back. You’re giving the government a free loan by doing so, id suggest updating your W-4 if you’re actually worried about “Uncle Sam in your pocket” and not just being glib

It was intended to show a data point of a unique situation. You see other charts on here of very high earners, low savers, high savers, low earners, and a combination of these. This is just somewhere in between.

I wasn’t expecting a particular type of engagement. Just wanted to present some data.

I see how this can be generational wealth after you clarified. In my mind I always saw that term applicable to those around me who came from affluent families. I’m talking about Ivy League educated families whose children never had to worry about getting into college or being able to pay.

I guess I can see the value in that. After all I am an advocate for transparency about these things. It may help others to see that it isn’t their fault for not keeping up with people in situations like yours for example.

And yeah there are absolutely levels to the generational wealth thing and you are arguably on the lowest tier. That’s fair

You can legally adjust your withholding (personal allowances) on your W4 so that your tax payments more accurately reflect what is due. Most employers allow this change every December -Januart. The IRS provides a free calculator at https://www.irs.gov/individuals/irs-withholding-calculator

> I used to say, “It’s fine with us as long as you capitalize on the opportunity to save some $$.

^This! I feel like American culture shames people from moving back home. But it’s totally okay and even encouraged in others.

[removed]

Weird. Based on that calculator I’m projected to owe $3500!

What an obtuse fucking thing to say.

[removed]

Yeah bruh... The living with parents part a huge savings... That can eat up 30 45% of ur income😬

If you're not sure why this is disliked, it's because putting a down payment on a house is an unattainable goal for many because they can't save up enough due to high rent.

Yup, some people aspire just to toss down a down payment some day!

Your plan is a $600K mortgage? Are you expecting a jump in income shortly? More help?

Got a link for that one?

The goal is to get into a house where I can rent out 2 of the rooms to help out with the mortgage. My income will increase 5% every year (until capped out) with additional salary adjustments based on the negotiated bargaining contracts from the union.

Edit oops linked back to this post....

https://www.reddit.com/r/dataisbeautiful/comments/zw7tmr/oc_my_2022_spending_am_i_doing_it_right/

Their post never said typical. They are a millennial saving up for a house. That’s objectively correct

Hey! That's a great salary for a union shop, good job!

What was used to create this sankey?

Holy shit

It’s not a union in the traditional sense you’re probably thinking of. Most, if not all, government workers are represented by a union.

Not sure if you’re referring to data source or the actual tool.

Tool: https://sankeymatic.com/

Daily finances tracked using PearBudget.

I’m sorry meant the actual tool

You lick something alright.

Windowz. It says right there ^

There's nothing impressive about having your parents pay all your big expenses.

Fuck that. Eating nothing but rice, spinach and eggs isn't enjoyable, nor is it a very balanced diet. I don't know why people on Reddit get off bragging about how Spartan their diets are. Sure, saving money is great, but eating the most bland foods around just to save a few bucks is hardly an ideal solution.

Agreed, however the self discipline to not spend all of your earnings on toys and travel, or hookers and blow... Is impressive for a young adult.

[removed]

It's OK to move back in when you're 22, but if you're 35 you should be caring for your own kids, not leeching off your parents.

Lower taxes than I pay in the US, and you get school and medical. Fuck me.

I posted one of these and it was removed by moderators for reason of "posts involving personal data"

Stop complaining, and read the removal reason again. It says

> * Posts involving Personal Data are permissible only on Mondays (ET). Please resubmit your post on Monday.

Do you realize the post clearly says "of A millennial" meaning it is specific to only one person not respresentative to a population? In this scenario, the author does not owe any explanations to you about their housing or family situation. Your questioning is hostile. What do you care if their parents are wealthy? Do you go around asking individuals of they are wealthy or how much they contribute to their parents?

It certainly is unfortutante that many people do not have this option, but the post does not seem intended to ilustrate a situation at population level, it is just about one person. Why is it shitty that they made this post? why is it a problem that not everyone has to struggle? are you bitter about every person who is in a better position than you?

I have news for you, in a lot of cultures, including mine, people do not have to leave their parents house, I mean they are not expected to leave, they can stay as long as they want, and we parents encourage our children to stay as long as they can so they can take advantage of having a roof and food while they are trying to build their life. It is not uncommon for people to live with their parents, even while earning a good income, and the reason goes beyond financial reasons, some times is even about company and taking care of your parents if they need that. If you marry you leave, if you don't marry you can leave or you can stay, hell sometimes if you marry you can bring your spouse (this is not ideal, but it happens a lot and no one judges that). People do not have to be wealthy to support their children like this. It is a cultural thing, more than a reflection of wealth, so your questioning is very inappropiate.

If you read further down you would’ve seen that I conceded there being value to the post. With that being said I don’t regret the way I approached it. My critiques were fair and I stand by them.

And I’m not jealous of anything he has to be proud of. To be frank I’m younger and earn more. I’m simply pointing out that he essentially posted a visualization of his personal privilege, which, again, I have already conceded may be valuable info to some so that they can understand why others have so much more saved than they do.

I wasn’t being hostile, I was genuinely questioning OP’s intent, because it didn’t seem very positive to me. I liked his response though, and we’ve made peace. You can chill

ETA: and about the culture thing—I have absolutely nothing against living with your parents. I wish I could. I have something against earning an above average salary and not contributing. Without an explanation for that it’s an objectively a bad look. I stand by that.

I have my children at home while they go to uni and I am encouraging them to not leave until they have a stable income and have saved for their down payment to ensure housing. I really see no need to send them out to the world to struggle when they have a house and we can suppor them as much as we can. We don't ask them to contribute to the house, our priority is that they save as much as possible while they can. The day they decide to leave, hopefully they will do it with resources to provide for themselves. Though it is a cultural thing in large part, in my culture children are not expected to leave the parents house a certain age, so for us is absolutely normal having our children home and hopefully for them the benefits of staying home outweight the social pressure to leave when they are not ready yet.

Well the language you chose is hostile, I stand by my critique of your response. You have no right to question people the way you did just because you have it harder.

I have no right to question people who post their data to a public subreddit? Hard disagree lmao

You really don't. They posted the data they chose to make public, you have no right to question what you questioned. It is none of your business if they contribute or not to their parents or if they are wealthy, let alone in the hostile way you did it.

Again, hard disagree. If you don’t want people to question the details of your finances don’t post the details of your finances. If you’d simply said “he isn’t obligated to respond” I’d agree, but to act like asking the question was out of line is frankly ridiculous

You can disagree as hard as you can, but didagreeing hardly does not make you any less rude nor correct.

And likewise you stating that I have no right repeatedly will not make that true.

Are you one of OP’s parents or something? He wasn’t even offended by my question, why are you so up in arms about it?

I dislike rude people.

You should have enough for a downpayment on a 600k house with that one year of saving. You dont need 20% down. Mortgage insurance is really really low if you have good credit and you can get away with only say 5% down.

Now, having a bigger down payment helps keep monthly payments low, but keep in mind you are tying up that cash as equity in the house, and you could likely outperform your mortgage interest rate with investments.

You should talk with a mortgage broker or banker about your options and what your budget is with what you've saved so far. We only had to come up with 24k in cash to close on our house for example.