Budgeting 20-30k a month? : personalfinance


I just turned 21 a few months ago and started hitting lifestyle inflation. My current revenues for my businesses exceed 200k a month with 10-15% profit margins which leaves me with 20-30k at the end of the month. Up until this point, I haven’t really invested my money (outside of my businesses) or did anything like index funds or roth ira. I’ve just been focused on my businesses.

Monthly Expenses:
Rent: $3202
Car payment: $540
Car + Apartment Insurance: $402
Parking spot: $200
Food: $1000+? (I’m working on lowering this since I live in NYC where takeout is around every corner)
Internet + Phone Plans: $150
Total: around 5k-7k depending on how much I spend on food and entertainment.

Now here’s the crazy part, my business expenses allow me to get cashback upwards of 5-8k a month on top of my 20-30k profits. That means I can pay off my living expenses by just cashback alone.

What’s some advice? Should I be lowering my living expenses? Am I spending too much every month?

Should I feel super guilty about spending so much every month when I’m only 21? But at the same time, it also motivates me to work harder as I HAVE to make a certain amount a month. idk maybe im just lying to myself.

*EDIT: I do not need to keep my profits in a checking account for cash flow like most businesses. My Amex Gold card has a spending power of 200k+ a month so I can just pay everything off at the end of the month. I typically spend 4-5k a day on advertisements, inventory, etc. So instead of just looking at the number go up on my bank account by 20-30k a month, where should I start investing it?

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