<prompt> Human: Hi PF, Ive been lurking this sub for a bit and would like some genuine feedback on my budget, planning, etc. Im asking because I feel as though I could use a fresh perspective to trim the fat in areas that maybe Im turning a blind eye to, and in part to get motivated to really take reign of my finances and to get started on my journey to retirement. Im 24 years old, living in a city in the Northeast with a degree in Management Information Systems Class of 2015 working at a relatively large international Fortune 500 company. Please see below for a breakdown of my income and expenses:Income Amount Notes---------Annual Salary 70,136 10 goes into 401k. Company matches 75 of the first 6. Another 10 goes to Company stock options, where the company matches 40. Target Bonus 10,000 25 contributed to 401kMonthly Take Home Pay 2,972.35 This is after all deductions including 401k, Company Stock Options, Medical, Dental, Fed tax, State tax, City tax, etc. Savings Amount Notes---------Checking Savings 3,000.00 401k 18,000 Stock Options 2,000 Only signed up for this a month ago. Planning to cash out quarterly as there is a 25 transaction feeExpensesmonth Amount Notes---------Rent 550.00Im living with a few other people.Student Loans 390.00Current balance is 27,000. Paying the minimum on the two federal loans that are at 5-6 APR Auto Insurance Gas 180 120 50 350 Leased vehicle, ending mid-2017. Planning to purchasefinance a car 15,000Credit Card 400 Remaining balance of 1,500. Trying to pay off aggressivelyUtilities Monthly Subscription Fees avg. 110.00 This includes water, gas, electric, internet, NetflixGroceries avg. 300 Family 300 Im paying for my parents car lease as they have fallen on some hard timesEntertainment Misc. avg. 510 This includes going out for drinks, general hobbies, and other expenses that are not fixed such as haircuts, Cigarettes avg. 50 Im working on cutting this out of my budget. Used to be around 150 and Im working on reducing this to 0Total avg. 2,960.00Future Milestones Pay off credit card balance by April 2017 Build SavingsEmergency fund up to 6,000 by December 2017 Keep checking account balance floating at 2,000 by December 2017 Allocate 2,000 from yearly bonus to start Roth IRA, and contribute 200month starting March 2017. Continue yearly for annual contribution of 5400 - 5500 a year Reduce smoking expense to 0. Targeting avg. 40month spend by January 2017, 30month by February... etc. End Goal: Financial Independence Early Retirement at the age of 50-55 My Action Plan: Once the credit card balance is paid off targeted for April 2017, allocate the 400month directly to savings for emergency fund, indefinitely Cut down EntertainmentMisc expenses to an average of 400 a month Once current car lease ends, purchase a used car, putting 5,000 down funded by bonus payout in March, and finance 10,000 for 48 month term to hopefully keep payments at around 250 maximum. Keep paying minimum amounts on Student loans to prioritize building savings and 401k contributions Allocate half of yearly raise to increase 401k contribution. e.g. If the raise is 4, I will raise my 401k contribution to 12 Currently at 10. Id appreciate all constructive criticism, feedback, and general advice in any area of my budgetgoalsaction plan.EDIT - Please see below for an updated Action Plan based on the advice from this threadMilestones Quit smoking as a 2017 resolution to free up 50 Reduce Entertainment Misc. spending to average 400 a month Build emergency savings to at least 6,000 by December 2017 Pay off 1,500 credit card balance by February 2017 Save 4,000 for a down payment for a car by May 2017 Total value of 12,000 Build Family Help fund of 2,500 by February 2018 for a down payment on a used car Total value of 10,000Action Plan Multiple savings accounts to be created Car, Emergency Fund, AutoPay BillsRent, and Family Help Keep 401k contributions at 10. Allocate any increase in salary typically 3-4 towards student loans instead of increasing 401k contributions Out of the 10,000 bonus I expect in March, 25 will go directly to 401k. I expect to get 4,200 after taxes, which will be saved for a down payment for a car for when my current lease ends in May - total value targeting 12,000.00 Sell company stockemployer match on a quarterly basis. The 1,750 that I contributed from my pay over 3 months will be deposited back into my emergency fund. The 500 I expect to get back from the employer match will go towards the Family Help account. At February 2018, when their lease comes to an end, Im projecting that this account will have 2,500 which would be used as a down payment for something like a 23 year old Honda Civic 10,000 total Cut out at least 100 in EntertainmentMisc. spending and increase the monthly payment towards the credit card balance to 500 to pay off balance by February 2017. After credit card balance is paid off, allocate additional 250 towards student loans, and 250 to building emergency savings up to 9,000 by 2018. Thanks for the help - all the feedback and fresh perspectives helped me realize exactly where I can start saving and helped me to make some solid, attainable goals and an action plan.  <response>: Looks pretty reasonable. You know what you want to do, too. Thats probably the bigger deal, since anybody can always critique things, but if you know what you want to change, thats a great start.You like to spend on entertainment, but thats why you make money. Your savings seem pretty healthy, and nice you can help out your family.Good work. 