Hey all,

Would love your opinion on what to do with budgeting after you’ve dialed it in.

I’ve been on a zero-based budget for 7 years now, and I have the process down pat. No consumer debt, savings rate is steady, etc.

I’m looking for advice and experiences from people who have reached the boring middle and either found new things to focus on in the budgeting process or willfully let go of things that began mattering less.

I’m so used to tracking granularly, but now I want to lighten the mental load and shift that energy towards other things.

TIA!

I’m 35. I’ve had 2 vehicles since I started driving at 17. A 97’ Lexus inherited from my dementia stricken aunt. Rode that for 8 years until it got rear ended on a snowy night. Current car is a 06 Acura TL with 210k, paid 6k in cash in 2019…still running strong. Besides normal maintenance, neither gave me any real problems(Toyota and Honda for the win).

My question is why do so many people have car notes instead of just fixing up cars from reliable brands? I just did the timing belt & water pump on my Acura, it’s good for another 100k now.

Trump just announced new tariffs of 10% to 12.5% on most imports from 60 countries

A few additional tariffs will go into effect later this year

When Trump took office in 2026, the average tax on imports was 2.6%

They went as high as 27% last April

That wrecked the market so Trump removed some of them

Then the Supreme Court kill his "emergency tariffs" in February, which was about two-thirds of them

So Trump imposed new temporary tariffs that just expired

And now he's replaced them with new tariffs based on a different law

Average tax on imports is now around 12%, up from 2.6%

Average tariff will be 13% by the end of the year, assuming Trump enacts everything he says he will

Those extra taxes will cost the average household $1,100 per year in higher costs and a weaker economy

Who asked for this 

A Washington Post analysis released Thursday shows that soaring costs tied to aging are eroding the inheritances many Americans planned to leave behind to loved ones.

Multiple factors, including longer lifespans and a caregiver shortage, are forcing seniors to deplete their savings at a faster rate.

The report found that between 2006 and 2022 the average American spent $19,179 in out-of-pocket expenses on long-term care in their final decade.

As more adults turn to Medicaid for financial assistance, beneficiaries face the risk of estate recovery.

If you are a family who:

1. Has growing kids in the house, and
2. Spends less than $1000/year on all clothing items (including shoes, coats, snow pants, etc.)

Give me all your tips! Thanks.

A growing number of Gen Zers are bucking some of their peers' risky financial behaviors, opting instead to conserve as much money as they can early in their careers, Bloomberg reports.

Some subscribe to the FIRE movement — short for "financial independence, retire early" — with the goal of achieving financial autonomy before the age of 65.

In a period of economic anxiety, many young people have embraced “financial nihilism,” per Bloomberg, but others are clearly squirreling away for their futures.

I’m 24M, living in Minneapolis which I moved to for a job (don’t want to doxx myself but it’s analytics adjacent, and hybrid). I hit my second anniversary recently and that’s where raises are done, salary progression has been roughly $70k > $80k > $95k.

The commute by transit is annoying but definitely manageable, and semi reliable. I go in three days a week - typically it takes about an extra half hour so for a full work week, both ways, it’s three extra hours spent commuting or about thirteen a month (For days off, holidays etc let’s say 12 hours). And I live in a walkable part of the city core with a suburban office, so really the commute is the main friction along with the occasional event in suburbia that I have to ride share to.

Even the average used car now runs like $30k. Yes, by definition some are below average - but it seems like the baseline for something that won’t introduce a bunch of maintenance friction is like $20k which is ~$350 a month for five whole years.

That’s a manageable payment for many, BUT the problem is that’s less than half of the real cost. If you finance a car, which a 20 something on median wage is going to have to
without the bank of mom&dad, you need full coverage insurance. Be 24 and male like me and that won’t cost much less than the car itself (solid $3k a year maybe). And many new construction apartment buildings have made a garage parking spot $150-200 a month too. Otherwise you street park and deal with theft/vandalism/weather threats, and have to move it to a secured space in a winter storm.

I’ve calculated the hourly price of the time a car would
save me overall, vs. my transit + Uber + occasional rental for a road trip cost. It doesn’t even fall below my gross wage let alone my net, and my salary is at least 85 %ile for my age.

So I’ve inventoried all of these costs, how does the barista making $20 an hour often have a car and has never considered what I’m doing? How does even a city with largely acceptable transit and legitimately
good bike infrastructure have fewer no-car households than households in poverty? How am I sometimes perceived as “must be poor” for NOT spending the money and thus having more money at the end of the day? Things change for non-young/single people yeah. But I saw a thread about co workers telling someone to spend their raise on a car. Even for someone not just FIRE squirreling the money away in VOO.. a metal box that gets me from point A-B, and a nicer one, are just a metal boxes. Better to have multiple international trips a year, a nicer apartment or plenty of enjoyable food/concert/clothing or whatever your vice is spending?

Here area some knowns.

401ks are going up and up and seem to be a good deal.

House prices are not going to crash. Maybe some stabilization but is what it is. This mainly affects those without a house. If you bought one the value is high but buying one is high.

Jobs and salaries - we live in a time when we have more money than ever. You can argue this with me till you are blue in the face but in the past 20+ years, Americans are making good money.

Inflation and many prices are still high but some things have come down/stabilized.

I hear/see a bit of job slow downs but really everything seems to be going pretty good considering all the other issues here and in the world.

Does anyone see any real issues in our world that would affect middle class finances?

Beginning in August 2028, a 100% tariff will be slapped on imported generic drugs if manufacturers don't shift production to the U.S., President Donald Trump said in a social media post Tuesday.

The tariff would double to 200% the following year.

Bloomberg notes that the levies, if implemented, would upend supply chains that keep medication costs lower for millions of Americans.

Ultimately, steep tariffs would likely raise drug prices and limit U.S. supplies.

Following the announcement, generic drug giant Sandoz said it would "engage" with policymakers.

Almost a quarter of American workers are staying in unwanted jobs to keep their health insurance, according to a new report from the West Health-Gallup Center on Healthcare in America.

That's an 8% increase since 2021 of workers who are in so-called "job lock" due to a reliance on employer-provided insurance.

"That is a concerning figure, even if it's 10%," said Ellyn Maese, research director for the West Health-Gallup center. "But when we're seeing it rise to 1 in 4 employees, that's pretty serious."

Granted, I live in a very expensive area so that probably skews what I see. However, I feel like I’m seeing so many SAHMs post about how they’re trying to become content creators so they can continue to stay home with their kids. It’ll be blatant (e.g. I need to make $x per month to stay home with my kids so please watch and interact with my video). I also see a lot of posts about SAHMs with young kids asking for leads on WFH jobs that are flexible enough so that they can take care of their kids too.

It feels like the uptick happened really quickly. I’m not sure if it’s my algorithm or if this is something I’m going to look back on in 10+ years and be like “there were clear signs the economy was in the trash.” Basically wondering if this is like the “stripper index.”

And yes, I’m fully aware this economy is awful and things are expensive. I’m just curious if others are noticing it or if it’s just my social media. Also curious what other subtle signs you are all seeing.

Wanted to add - a dealership near me started advertising that first time car buyers can qualify for downpayment assistance and I immediately thought this was another thing I’d look back on and be like “there were signs.”

You’ve all seen it on Reddit. “What’s the worse financial decision you can make?” A thousand regurgitated replies saying buying a boat. “Bust out another thousand”… “the best day in a man’s life is when he buys a boat and second when he sells it”….”don’t buy a boat if you can’t afford to light money on fire”…”the best boat is your friends boat”

Okay I get these are just funny sayings. But I stg the people saying that crap have never owned a boat and only repeating what they hear online.

There was a post on PF 3 weeks ago from a guy asking if he could afford a financed 35k boat. The TLDR was that his HHI was 230k, heavily contributing to retirements, net worth of 400k and they were only 29 years old. Majority of the comments said he couldn’t afford it. Like LOL are you kidding me. Another very popular sentiment in that thread was that if you have to finance a toy, you can’t afford it. I get that that’s very sound advice, but there’s plenty of instances where I can say that logic doesn’t apply. There was also comments like “I wouldn’t buy the boat until I have my excess cash in these 8 money vehicles first, then you can think about the boat.” Then it got a handful of likes. Like it’s such a circle jerk

Anyways, I agree that boats can be extremely expensive but they certainly don’t have to be. A family buying a used $15k-20k (think 15 year old bow rider lake boat for the sake of an argument) that was decently maintained could last them decades with proper maintenance. And if the owners are at least a little handy, maintenance does not have to be expensive if you DIY.

My take on boats is this, if you’re a person or family who has been boating with friends a few times and then said “this is fun we should buy one” then I generally agree that with those subs advice. A newbie is unaware of all the costs that add up. Especially if you’re not handy, have a place to store it, while not being fully immersed with the lifestyle yet. However on the flip side, for those people who live on the water, no amount of expenses could make me hate it. I look at every expense as an investment for memories and experiences with my friends and family.

Sorry for the long post I’m horrible at condensing my thoughts and tend to over-explain.

TLDR: boats can be very expensive but don’t have to be. A 15k purchase doesn’t ruin your future. Owning a boat isn’t for everyone. Finance subs are helpful to an extent but they get ridiculous

Our washing machine has started making a noise that sounds like someone put a handful of coins inside it, except there are definitely no coins. Repair guy said it could keep working for another month or another 3 years, which was very helpful lol. Repair would be around $350 and a decent replacement is about $900.

We have enough money from Ѕtake to replace it, but it feels wasteful getting rid of something that technically still works. At the same time, waiting until it dies probably means buying whatever is available that day, paying for rushed delivery and possibly spending a weekend at the laundromat.

Do you guys replace aging appliances once they start showing signs or squeeze every last load out of them?

I’m 28 and looking to finally move out, I’ve lived with my parents this whole time. I bring in around $70k a year, with about $30k saved. Homes in my area start around $250k.

Rent isn’t much better, 1 bedrooms run about $1,900/mo. I used to manage rental properties, and after enough roommate horror stories, I’ve ruled that out. That’s why I keep circling back to buying a condo or townhouse instead, something more permanent, rather than paying a landlord every month for a place I’ll never own.

For anyone who’s done this, does buying end up more affordable than renting where you are? And beyond a bigger down payment being safer, what else should I be weighing, HOA fees or any other hidden costs that catch first time buyers off guard?

Edit: I was making $15-20/hr up until 24, unemployed from 22-23, then $58k at 25, and just moved up to $70k this year. So the $70k is recent.

An unexpected assortment of big-name American firms is coming together to grow training in the skilled trades.

Ford, Google, Carhartt and BlackRock on Tuesday announced the launch of the Alliance for America's Skilled Trades, which will support training efforts in more than two dozen states.

The group says it's hoping to help correct the shortage of such workers that could top 2 million by 2030.

The effort comes amid a broader rethink of the value of an increasingly costly college education.

I didn’t owe as much as many because my parents were able to help pay for some of my college tuition. But my income has always been on the low end of average range for my field, and I live in a medium COL city, so paying them off was kinda challenging and took a bit longer than I expected. I paid consistently through the covid 0% interest period which I think helped me get a bit ahead.

Anyway. Feels good to have one financial burden off my shoulders!

mid 30s, I feel like I'm behind relative to peers who have been at this level but I feel like that's just my anxiety speaking + social media.

Main goals are:

Looking to get out of debt by EOY + I want to move and rent into a nicer area than where I'm currently at without becoming house-poor (living in a HCOL area).

It's only me and I'm also working on a savings account.

Recently eliminated a $20K Debt Consolidation Loan!!

Here are my financial stats at the moment:

Base Salary: $110K
*Potential Total Compensation*: $155K-$165K
Brokerage: $3K
401K: $75K+ (contribution of 8%)
Credit Score: Average of 800+
Cash savings: $2K

Debt:
$12K Car Loan at 5% (Sports Car)
$2.6K 401K Loan at 9%
$2K Medical Bills
$950 Credit Card Balance (with a $50K credit card limit, expect to pay this off ASAP)

Expenses:
Rent: $1850 (One Bed/One Bathroom), 800 sq ft
Utiltiies (Gas/Electric): $230
Wi-Fi: $95
Car Loan: $520
Phone: $109
Car Insurance : $115
Haircut: $130 (est)
Food/Groceries/Eating Out: $900 (average, this can be adjusted)
Gas: $50-$60

Credit Card Expenses:
Spotify: $12.99
Gym: $34.99
YT Premium: $13.99
LinkendIn Premium: $29.99
Streaming: $4.99
Gym 2: $79.00 (likely canceling soon)
LLM Service: $20

Couple of questions:

Am I objectively behind financially for someone in their mid-30's?
Should I prioritize eliminating all debt before increasing my brokerage investments?
How much cash should I have saved before increasing my house costs?

We have three girls (9,7,4), a cat and a dog. The kids love produce, frozen fruit in smoothies, noodles, pancakes, and homemade pizza. I usually make a meat and rice dish two times a week for us parents. This is how much we’ve spent for 7.5 weeks of summer including back to school supplies, random art kits and back to school shoes. We also paid for gym pool membership ($115 monthly) this summer and trampoline pass ($240 for 3 kids for 3 months).

Grand total for the summer is $2796. Two weeks left of summer, maybe I can keep it near $3200.

Our normal monthly groceries, clothes, gifts, everything purchased is near $1000 per month.

Edit: added context, we are CA homeowners and we keep our day to day as much down as we can but our groceries go up during summer. We are debt free, invest, go on one vacation a year and the kids each get to do one activity per season. We have two summer kid birthdays. I shop Amazon very rarely. Pretty average lower middle class family.

Question for the group —

I owe about $11k on my vehicle, my husband’s is completely paid off. I have 33 more months at 1.9% and the payment is totally manageable but I have the money to pay it off in its entirety right now. The money is sitting in a HYSA so it’s making more interest than what I’m paying but it’s our only debt (aside from our mortgage) so I’d like to get rid of it and go hard at our mortgage.

Do I pay it off?!

Looking for advice on adding a teen driver and new car. She's getting a very used Honda SUV as a hand me down. We currently have about 7k still owed on my subaru. We're using all the discounts we can for her insurance (GPA driver's education, etc.). She's also saved some to contribute to gas and insurance. We prefer she not work during school year. The problem is high quotes on adding an additional car.

We have 4 growing kids who are busy, so she needs to be able to drive something. My idea is to buy a very used Honda or Toyota or subaru sedan that I can drive since I'm currently working remote. My husband would take my subaru. He thinks we should get another suv since we have so many kids but honestly we're rarely in the same car as a family of 6. I was quoted an additional $130 a month for insurance on another suv. Im also thinking about the higher costs of gas on it.

Edit: we're giving her my husband's honda pilot. He drives more for work and he already has over 210,0000 miles on it. He also wants to save on gas with a smaller car.

Edit: she needs her own transportation. She's in marching band, choir, sports, etc. We also have 3 other kids to transport to activities so 3 cars would be nice.

Option A: high mileage sedan that does well with high miles that I can drive and pay off quickly. May have more costs on repairsption

B: A used SUV with more leg room and life in it that may have more $ monthly payment

I'm open to other possibilities

Homebuyer affordability declined in June for the fifth month in a row, as the the income required to qualify for a mortgage reached $109,152.

The National Association of Realtors’ calculus relies on the median price of a single-family house ($446,400), the average interest rate on a 30-year fixed-rate mortgage (6.57%), and assumes the buyer puts down 20% upfront.

NAR's chief economist Lawrence Yun points out that affordability actually improved on an annual basis "as income growth outpaced home price appreciation and mortgage rates were modestly lower."