2020 Money Breakdown of DINKs (income, expenses, investments of two engineers)
This is a breakdown of our money in 2020 - our income, expenses, debt, savings, and investments! We are DINKs, which means we are dual income-no kids. We both have engineer salaries (I am a software engineer and my partner is a civil engineer) and we also have a rental property in Milwaukee, WI. We zero-based budget throughout the year and have been inputting every single transaction to track every dollar that comes in as income, and out as expenses, debt, savings, and investments. We acknowledge that we are super privileged to be able to do so well during such a tumultuous time.
Some notes about the data:
1) I did not include any employer match as part of our income or investments because I do not consider this as me actively investing my money.
2) I mentioned in the video that I wanted to avoid double counting. Once my company stocks vested, it is put into our brokerage account. I sold them, had some capital gains, and put the proceeds into my savings account. So there was a lot of transferring between accounts, but it's not really "new" money, you get me?
3) I did not talk about any of our rental expenses because that is tied to our business accounts which are separate from our personal accounts. The business expenses do include us moving money from our personal accounts to fund our business accounts.
Hope you enjoy! Do you have any suggestions on how I should film these in the future?
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Timestamps:
0:00 Intro
0:49 Income
1:48 Necessary expenses
3:42 Discretionary expenses
5:53 Debt
6:45 Savings
7:55 Investments
8:59 Net worth