[Sylvia]

I would definitely wait to get a dog until you move out and truly understand what your living costs are, pets are expensive and people often underestimate how much they cost.

We had a cat who had diabetes and it cost so much (blood work/ vet visits, special food, insulin, in addition to someone to give him shots when we went away for a weekend etc) and it was completely unexpected.

Depending on where you live (I live in HCOL area so rents are high), consider as others have suggested getting a roommate to lower costs and maybe pick up a side hustle to keep a good savings rate.

Also depends on your short (travel/ dog ) and long term (FI?) goals.

[Bill]

So, you are just starting out, so if you save 21%, that is a great start!

No reason to beat yourself up over that.

You WILL make more money over time, so if you don’t continually increase your lifestyle, you’ll be able to save more a more.

In the short term, I wouldn’t spend $3k a year on pets.

I’d also do some little things like get a cheaper phone plan (mint/visible), learn to cut my own hair etc.

Those sound small, but it’s maybe $330 per month in your budget.

Investing that much extra over the next 40 years is $800,000!

[Jule]

For me, there are priorities in life that need to be taken care of before enjoyment.

We didn’t travel and had many luxuries for the first years of our adult life as we were focusing on building our careers, and establishing our retirement and home.

After those things were in place, then we were able to do some travel, and a few nice things here and there.

This is coming from someone who is much older than you, I am in my mid 40s, and I am at a point where I can afford many nice things, but it took sacrifice of going without for a long time before we could get here.

[Kelly]

What are You spending Your money on? Do you have e a written budget.
Wait to get a dog until you move out.

[Kimberly]

Live at home longer and live with roommates when you move out.

[Edna]

Any job promotions or raises in the future? Increase your income.
Reduce some expenses:

Find a low cost counseling program- that is a need not a want. Some employers cover that or offer some free sessions.

Can you reduce your gas?

You could reduce pet grooming

to half monthly or less is you learn how to groom.

Maybe work part time for the soccer club or gym to reduce your fees.

[Kathryn]

Assuming you are young…I’d suggest you move out and take care of just yourself for awhile before you get a dog.

And if you plan to travel much, I’d suggest you continue to delay getting a dog.

I’d even recommend that you wait until you purchase your own home before getting a dog as sometimes it limits your options as a renter.

I love dogs! But I don’t even have one.

I do some pet sitting occasionally to get my fix.

Figure adding about $50/ day for that to your trips unless your parents will care for it.

[Madison]

Take into consideration that rent prices go up every year even if you stay in the same place.

At least $100 more a year should be expected.

I’d save more for an emergency fund for your pet and consider pet insurance.

They get yearly shots, random vet trips, grooming, food, flea/tick/heart-worm prevention, toys/beds/etc.

They definitely add enjoyment to life & sometimes even give you purpose!

[Kirsten]

You are doing great! As a 48-year old person getting ready to retire at 55 I will tell you:

I have never regretted the decision to postpone buying a house and instead rent with roommates.

I did it until my early 40s.

I have never regretted scraping by to put money into my retirement accounts.

However! I would have traveled more while my knees were more cooperative.

I traveled a lot, but I’m sorry I didn’t do more long-term travel in cheap places like SE Asia or Eastern Europe.

Save up your money, take a year or two, and hostel your way across the world.

[Carol]

If you like staying in hotels when you travel, consider working part time for a Marriott or Hilton property.

Their travel benefits are significant, plus of course it would increase your income.

Your income will grow and allow you to contribute more to investments in the future.

Do not miss the opportunity to enjoy travel experiences while it’s just you, but if you have friends who want to travel, you can split rooms, etc and travel even cheaper!

[Author]

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