Devonte Duncan, 27, lives in Brooklyn, New York, and works as a software engineer at a tech company, earning $159,000 a year. After reaching a six-figure salary, his spending quickly caught up with his income and led him into debt.

Now, Devonte takes a much more deliberate approach to his finances, balancing stricter budgeting with a lifestyle that still allows him to enjoy his money.

In this episode of Cost of Living, Devonte breaks down exactly how he earns, spends, budgets, and invests while living in one of the most expensive cities in the US.

Watch full video: https://lnkd.in/eFVtrKxh

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Transcript

Transcript

Transcript
My name is Devonte Duncan, I’m a software engineer living in Brooklyn, NY. My base salary is $159,000 a year. I’m going to be sharing everything about my finances. This is cost of living. I’m a Level 3 software engineer at a tech company in New York City. My annual base salary is about $159,000. I did get a sign on bonus of about $20,000 and I did spend that on a Tesla Model 3 back when it was super expensive. When I got hired I received $100,000 in equity in the form of RSU that vested over the period of four years, so yearly that brought my total salary up to around 215. The $240,000 and that ran out pretty much so now I’m back down to the base $159,000 a year. My monthly salary is $13, 250. My take home after taxes, after healthcare, after every deduction is about $7752 a month. The only additional side income that I earn is from my YouTube channel which is dose of Devi and I believe at its peak I was earning about 300 to $400. A month and now it’s about $100 a month just because I haven’t been making videos as often as I was before. I work five days a week and there was an RTO olicy at my job so I go in Tuesdays and Thursdays and the other days I just work from home.