Mrxyz wrote: ↑Sun Dec 16, 2018 6:04 am
moneywise3 wrote: ↑Sun Dec 16, 2018 1:12 am
How can someone spend 250k a year in living expenses?
Made me think and do some math.
We spend 2k on gas, and electricity each, 3k on phone, 8k on disability, 6k on insurance
2k on car, 650 on HOA, county tax of 5k
Car once every 10 year = 50G OR 5 G per year
So this is roughly 35k/year minimum
Rest is eating out, vacation, shopping.
No mortgage.
Maybe I/we need to spend more but there is no way I can see use spend 250k per year!
What am I missing?
(Just curious if my calculations are wrong and in no way trying to shame anyone)
We have 1 kid in 1st grade, we live pretty modestly and these are my expenses taken from Mint for 2017:
1. House: almost 40k. Mortgage + insurance + property taxes plus some minor DYI stuff. 2bdr, 1600sq ft in case you wonder.
2. Travel 17k$. 2017 was not a representative year because we use a lot of points from chase cards, about 10k in value.
3. Education 17k (student loans for my wife, some after school for the kid).. it's easy to spend this amount only for 1 kid in preschool.
4. Auto 16k (mostly loan repayment for 2 cars, insurance, gas)
5. Food & dining 13k. We go only couple of times a month to restaurant.
6. Everything else 25k (unities, cell phone, internet, amazon, netflix, all the shopping and all other expenses etc)
You have to add what is subtracted directly from my paycheck, like health insurance which is not small (3-4k more a year?).
Categories are not precise, mint is not very good at assigning categories and I do not bother correcting it. But the total is about there: >130k$. Plus tax, comes close to 200k in my state.