What Percentage of your Gross Income for Housing & Auto?
What Percentage of your Gross Income for Housing & Auto?
Include utilities, rent,insurance, property taxes, mortgage payments in your housing costs. Include insurance, registration, gasoline, auto payments in your auto costs.
I'm a retiree with no mortgages so my 15% of gross income is of course low.
I'm a retiree with no mortgages so my 15% of gross income is of course low.
Re: What Percentage of your Gross Income for Housing & Auto?
Housing cost (utilities, prop taxes, mortgage, insurance) is about 5% of our gross income.
Cars are even less.
Cars are even less.
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Re: What Percentage of your Gross Income for Housing & Auto?
43% for housing and auto.
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Re: What Percentage of your Gross Income for Housing & Auto?
30%. Hm, thought it might be worse.
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Re: What Percentage of your Gross Income for Housing & Auto?
8% of gross income for rent and utilities. No car, and no large transportation expenses (I walk to work).
NightOwl
NightOwl
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Re: What Percentage of your Gross Income for Housing & Auto?
Less than 15% last year, including utilities and maintenance, but my car will be paid off soon and my income will be higher this year. It will be less than 10% this year.
Re: What Percentage of your Gross Income for Housing & Auto?
Housing and auto expenses were 20% of gross income last year.
edit. This includes maintenance for house and auto....and I had some house remodeling...I do something almost every year, after all.
edit. This includes maintenance for house and auto....and I had some house remodeling...I do something almost every year, after all.
Last edited by Sheepdog on Sat Jan 21, 2012 6:20 am, edited 1 time in total.
Unless you try to do something beyond what you have already mastered you will never grow. (Ralph Waldo Emerson)
Re: What Percentage of your Gross Income for Housing & Auto?
Last year was a good year. ~3% for the items in your list. One advantage of no debt.
52% TSM, 23% TISM, 24.5% TBM, 0.5% cash
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Re: What Percentage of your Gross Income for Housing & Auto?
No mortgage and no car payment...
Housing 5%
Auto 4%
Housing 5%
Auto 4%
Re: What Percentage of your Gross Income for Housing & Auto?
About 7%.... utilities, property taxes, home insurance, and auto expense. No mortgage or auto loan.
Simplicity is the ultimate sophistication. ~Leonardo DaVinci
Re: What Percentage of your Gross Income for Housing & Auto?
18.7% if we don't count the extra payments I make to the principal.
31.1% with the extra payments.
31.1% with the extra payments.
Re: What Percentage of your Gross Income for Housing & Auto?
Housing 16% (own home with mortgage)
Auto <2% (no car payments)
Auto <2% (no car payments)
Re: What Percentage of your Gross Income for Housing & Auto?
11%. Just refinanced and no car payments and little fuel costs mostly due to bicycle commuting.
Re: What Percentage of your Gross Income for Housing & Auto?
Way too much. I rushed into buying the house in my pre-Boglehead days and now live with the consequences on my expenses and net worth (underwater due to timing of buying the house).
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Re: What Percentage of your Gross Income for Housing & Auto?
Housing is about 8% of my gross income (based on last year). I don't really have good numbers for auto, but I would estimate 3-5%.
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Re: What Percentage of your Gross Income for Housing & Auto?
BTW, if you own a house you should actually consider the foregone rental income as an "expense".
Re: What Percentage of your Gross Income for Housing & Auto?
Total House and Cars Expenses as % Gross Income: 7.4%
House (1): 4.2%
Mortage: 0%
Utilities: 1.6%
Insurance: 0.7%
Property taxes: 1.9%
Cars (2): 3.2%
Loans: 0%
Insurance: 1.3%
Registration: 0.1%
Gasoline: 1.7%
In my opinion, maintenance costs for house and cars should be factored as well.
House (1): 4.2%
Mortage: 0%
Utilities: 1.6%
Insurance: 0.7%
Property taxes: 1.9%
Cars (2): 3.2%
Loans: 0%
Insurance: 1.3%
Registration: 0.1%
Gasoline: 1.7%
In my opinion, maintenance costs for house and cars should be factored as well.
Trust yourself, Break the rules, Don't be afraid to fail, Don't listen to naysayers, Work your butt off. "It is in your moments of decision that your destiny is shaped. Choose now and well"
Re: What Percentage of your Gross Income for Housing & Auto?
Counting home and car maintenance costs, 43% of gross salary which is where most of my income still comes from.
Re: What Percentage of your Gross Income for Housing & Auto?
Housing cost (utilities, prop taxes, insurance) is about 6% of our gross income. No mortgage since 1997. Maintenance was not included but would have been another 8% as we had a new roof put on this past year.
Auto cost (no payments as cars are now 11 and 16) for gas and insurance about 4%. Little maintenance this year, not even tires.
Auto cost (no payments as cars are now 11 and 16) for gas and insurance about 4%. Little maintenance this year, not even tires.
Re: What Percentage of your Gross Income for Housing & Auto?
Two homes, two cars, no debt. Expenses were about 6% last year.
Last edited by C319 on Sat Jan 21, 2012 2:40 pm, edited 1 time in total.
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Re: What Percentage of your Gross Income for Housing & Auto?
Less than 15% but we own our home and only have one car payment.
John
John
Re: What Percentage of your Gross Income for Housing & Auto?
my guess is that with the steep decline in house values here in the US the numbers will be much improved from say three or four years ago and will provide fuel to a turn around.
we don't have a mrtg but real estate taxes in NJ are relatively high.
we don't have a mrtg but real estate taxes in NJ are relatively high.
Re: What Percentage of your Gross Income for Housing & Auto?
Number one: This should be a poll.
Number two: The denominator is as much an influence in the result as the numerator; therefore, the results at best are inconclusive.
Number two: The denominator is as much an influence in the result as the numerator; therefore, the results at best are inconclusive.
Gordon
Re: What Percentage of your Gross Income for Housing & Auto?
We buy houses and cars with cash, so it is normally very low, but some years (maybe a few times in a lifetime) could be 250%.
Re: What Percentage of your Gross Income for Housing & Auto?
About 4 %, no mortage or car payments
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: What Percentage of your Gross Income for Housing & Auto?
14 % but mortgage will be retired soon...
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Re: What Percentage of your Gross Income for Housing & Auto?
Slightly less than 10%.
Home is paid for and car is a cash deal about every 5 years so I just took a rough car value of 25k and figured a simple yearly prorate of 5k.
Home is paid for and car is a cash deal about every 5 years so I just took a rough car value of 25k and figured a simple yearly prorate of 5k.
Re: What Percentage of your Gross Income for Housing & Auto?
Renter:
~10% between the car and housing. Sadly, the cost of ownership on my car is about 2/3 my housing cost (unavoidable tolls >$160/month).
~10% between the car and housing. Sadly, the cost of ownership on my car is about 2/3 my housing cost (unavoidable tolls >$160/month).
Re: What Percentage of your Gross Income for Housing & Auto?
Rent - ~10%
Transportation - No car, bus passes for my wife and me come to ~1%, bike maintenance is around 0.1%
Total of ~11%, although it varies due to freelancing income.
Skylar
Transportation - No car, bus passes for my wife and me come to ~1%, bike maintenance is around 0.1%
Total of ~11%, although it varies due to freelancing income.
Skylar
Re: What Percentage of your Gross Income for Housing & Auto?
5.5% for both utilities and automobile. No mortgage or car payments.
Re: What Percentage of your Gross Income for Housing & Auto?
Last edited by norookie on Thu May 17, 2012 12:07 pm, edited 2 times in total.
" Wealth usually leads to excess " Cicero 55 b.c
Re: What Percentage of your Gross Income for Housing & Auto?
15% (about 13% house + expenses, 2% car + expenses).
- market timer
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Re: What Percentage of your Gross Income for Housing & Auto?
401K, IRA/Roth, 529, taxable investments -- many here save 50% of after-tax income. Housing is around 15% of my net income, 0% car, 15% food/drinks, 4% travel, 1% clothes, the rest is saved.norookie wrote: Curious, how do you allocate the rest? Activities? Cable bill?(or is that in your utilites?) Entertaining? U Say, this is your monthly income right? Using round numbers 8333.3333333333333333333 income stream a month, 100k net income annually , pensions, ss, annuities(banish the thought), income interest, other monthly income. 100k annually, what do you do with other 85%/85k annually, it being your annual income. Numbers have been used as an analogy. If Im not being nosey, eat out a lot?
Re: What Percentage of your Gross Income for Housing & Auto?
Yes, but he's retired, as posted. Roth would be for earned income, maybe HSA, too. I'd think these type positions 401k/403b/tIRA, etc. payouts, not accumulation. Your assessment, and suggestion is certainly what I'd too would be doing with it in a similar fashion MT.market timer wrote:401K, IRA/Roth, 529, taxable investments -- many here save 50% of after-tax income. Housing is around 15% of my net income, 0% car, 15% food/drinks, 4% travel, 1% clothes, the rest is saved.norookie wrote: Curious, how do you allocate the rest? Activities? Cable bill?(or is that in your utilites?) Entertaining? U Say, this is your monthly income right? Using round numbers 8333.3333333333333333333 income stream a month, 100k net income annually , pensions, ss, annuities(banish the thought), income interest, other monthly income. 100k annually, what do you do with other 85%/85k annually, it being your annual income. Numbers have been used as an analogy. If Im not being nosey, eat out a lot?
" Wealth usually leads to excess " Cicero 55 b.c
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Re: What Percentage of your Gross Income for Housing & Auto?
About ~24% of gross for home and auto expenses. The auto part includes the price of the car in cash amortized over 10 years.
Re: What Percentage of your Gross Income for Housing & Auto?
Yes, but make sure you include the imputed income for doing your own maintenance in the income line.TheEternalVortex wrote:BTW, if you own a house you should actually consider the foregone rental income as an "expense".
I always wanted to be a procrastinator.
Re: What Percentage of your Gross Income for Housing & Auto?
Yep, eat out a lot. Hmmm, lunch time!
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Re: What Percentage of your Gross Income for Housing & Auto?
4%. I rent, but I am thinking of buying.
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Re: What Percentage of your Gross Income for Housing & Auto?
If one owns a place without a mortgage, should one still consider the cost of capital tied up in it? (There has to be some opportunity cost.)
So I question those stating "no mortgage" and "no car note", whether their costs are really that low. And a car also has a depreciation cost - are you considering that?
So I question those stating "no mortgage" and "no car note", whether their costs are really that low. And a car also has a depreciation cost - are you considering that?
Re: What Percentage of your Gross Income for Housing & Auto?
Rent is about 24% of my gross salary, or 15% of gross total income. Haven't calculated auto but it's a fairly small component as I keep my cars for 10+ years and pay cash. Gas and maintenance combined are less than 2% of gross salary. Housing will go up a bit this year as I'm planning to buy a house.
Re: What Percentage of your Gross Income for Housing & Auto?
Interesting idea about opportunity cost and depreciation. I've never thought of it that way and don't count cars as part of my net worth. I just know my expenses are low enough that I can survive just fine without an income. On this issue the peace of mind outweighs the math for me and my family. I'd be interested to know the views of others.natureexplorer wrote:If one owns a place without a mortgage, should one still consider the cost of capital tied up in it? (There has to be some opportunity cost.) So I question those stating "no mortgage" and "no car note", whether their costs are really that low. And a car also has a depreciation cost - are you considering that?
Re: What Percentage of your Gross Income for Housing & Auto?
22% of total annual expenses in 2011. Like the OP, I'm retired, so "income" is a nebulous term...
You only live once...
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Re: What Percentage of your Gross Income for Housing & Auto?
The opportunity cost of living in a home is the rent that could have been received. From an economic perspective, I'd consider housing expense as this opportunity cost, regardless of whether you have a mortgage or own the home free and clear.C319 wrote:Interesting idea about opportunity cost and depreciation. I've never thought of it that way and don't count cars as part of my net worth. I just know my expenses are low enough that I can survive just fine without an income. On this issue the peace of mind outweighs the math for me and my family. I'd be interested to know the views of others.natureexplorer wrote:If one owns a place without a mortgage, should one still consider the cost of capital tied up in it? (There has to be some opportunity cost.) So I question those stating "no mortgage" and "no car note", whether their costs are really that low. And a car also has a depreciation cost - are you considering that?
Re: What Percentage of your Gross Income for Housing & Auto?
19.5% total, including 2.6% in property taxes. Our property taxes are especially high in Washington State, mostly because we pay no state income tax.
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