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The original was posted on /r/dataisbeautiful by /u/123DisposableUser on 2023-08-07 13:01:15+00:00.

Been told that the data is beautiful so I guess this belongs here!

I started tracking my expenses and income 8 months ago in order to get a better picture of my personal finances. This is what I have learnt:

1. Housing is a big expense… ==============================

• Kind of obvious but was not aware that it takes almost 50% of my monthly expenses… It might sound bad but this is because I generally live frugally and I am not a mass consumer by any means.
• Despite being a big expense, it only represents 18% of my net income, which is way lower than the general rule of <30% of income.
• Having these numbers in my face just made me realise how easy would it be to own a house rather than burn my £££ into rent. Although since I don’t plan to be in the UK in 3 years and the current housing market & IR are so high that I am not sure house ownership is a wise decision.

2. General expenses ===================

• Never realised how much I was spending on each thing until now. Loving travelling as I do, I am not surprised it is my second biggest expense after Rent (£300 a month on average). It’s not bad considering I have been travelling a lot in the last 6 months. It might be the one expense I don’t feel bad about.
• Spending on average £240 a month on Gas is way more than I thought… time for a remote job!
• I have always optimized my spending on groceries (online deliveries, meal prep, freeze, etc) and I can get away with £91 a month, which is a very decent number.
• I spent +£600 on gifts for other people, more than I spent on myself. It’s probably time to balance these out.
• Very low spending on entertainment (£36/mo). To be honest, I could do more activities, but most of the activities I enjoy, I can do them for free.

3. High savings ratio - but need a better plan ==============================================

1. Always loved to see the number increase in the bank account but never stopped to think at what rate my savings are growing. I am able to save 60% of my net income and that feels great.
2. However, I need a better plan. I have no pension (not transferable outside of the UK if I move and I am sceptical about the pension system health in 30 years), and no investments. Despite the fact that I haven’t tracked my tax, I am sure I have the least tax-efficient savings ever.

Just for context, I am in my late 20s with an income of £70k and renting a shared flat. I consider myself new to the personal finance world so I am more than happy to hear about other’s perspectives. Leaving the numbers below.

Income + Expenses:

Expenses:

Income: