How much do you SPEND each month?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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How much do you SPEND each month

$6,000-$8,000
6
50%
$8,000-$10,000
1
8%
$8,000-$10,000
1
8%
$10,000+
4
33%
 
Total votes: 12

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HomerJ
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How much do you SPEND each month?

Post by HomerJ » Wed Mar 24, 2010 9:16 am

Reworked poll and continued discussion can be found at http://www.bogleheads.org/forum/viewtopic.php?t=52419 - admin alex

Curious how much the average Boglehead spends each month..

not how much you make
not how much you save
not how much you pay in taxes...

Just what are your monthly expenses?

Leave out vacations and cars...

In fact, let's leave out mortgages too, since they vary widely from region to region... and some people don't have them.

I'm curious how much you would need to keep your exact same lifestyle you have today if you had a paid off house.

MnD
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Post by MnD » Wed Mar 24, 2010 9:29 am

~$5000 :shock:

sscritic
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Post by sscritic » Wed Mar 24, 2010 9:33 am

If you leave out your mortgage, I am going to leave out my rent.

The question sounds a little like the tax code; count this, don't count that. Maybe you should have a phase-out in the question: only count amounts under XXX, or should that be only count your mortgage amounts over $1000 a month.

And energy and food are too volatile; leave them out as well.
:)

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HomerJ
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Post by HomerJ » Wed Mar 24, 2010 9:35 am

sscritic wrote:If you leave out your mortgage, I am going to leave out my rent.
Good point... That does make it harder to get meaningful data...

The idea is that mortgage payments shouldn't be required in retirement..

Wolkenspiel
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Re: How much do you SPEND each month?

Post by Wolkenspiel » Wed Mar 24, 2010 9:42 am

rrosenkoetter wrote:
Leave out vacations and cars...

I'm curious how much you would need to keep your exact same lifestyle you have today if you had a paid off house.
It's your poll, so you make the rules, but excluding 'vacation and cars' from the definition of one's lifestyle seems odd.

mptfan
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Post by mptfan » Wed Mar 24, 2010 9:51 am

After making all of the adjustments required by this poll, I think I spend about $43.67 per month. :lol

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Boglenaut
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Post by Boglenaut » Wed Mar 24, 2010 10:02 am

I suggest deleting this poll and starting another.

How can you leave out cars and vacations? What's the logic there?

Ron
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Re: How much do you SPEND each month?

Post by Ron » Wed Mar 24, 2010 10:14 am

Wolkenspiel wrote:...excluding 'vacation and cars' from the definition of one's lifestyle seems odd.
Agree. Especially since trips/vacation is our largest spending category and we have no note/mortgage, nor car payment :wink: ..

- Ron

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NightOwl
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Post by NightOwl » Wed Mar 24, 2010 10:22 am

The most interesting thing this poll reveals is how hard it is to get people to agree on what constitutes monthly spending. I've read several threads in which someone states a shockingly low monthly budget that turns out not to include doctor/dentist visits (well, I didn't go to the doctor or dentist this month), or 1/12 of vacations (I didn't take a vacation this month), or 1/12 of holiday travel and holiday gifts, etc. Not including cars would be a new twist on that!

Even if we agree on the categories, this poll will be tough to interpret. Are your numbers for an individual or for a family of five? Do you live in SF or the rural midwest?

NightOwl
"Volatility provokes the constant dread that some investors know more than we do, making us fearful of ignoring such powerful price movements." | Peter Bernstein, "The 60/40 Solution."

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Sheepdog
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Post by Sheepdog » Wed Mar 24, 2010 10:25 am

Boglenaut wrote:I suggest deleting this poll and starting another.

How can you leave out cars and vacations? What's the logic there?
I agree. However, I can say that our 2009 expenses within the criteria the op asked was $3994 per month average.
Jim
Just because it isn't your fault doesn't mean it isn't your responsibility....Josh Reid Jones

chaz
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Post by chaz » Wed Mar 24, 2010 10:30 am

$5000
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page

pr
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Post by pr » Wed Mar 24, 2010 10:31 am

Boglenaut wrote:I suggest deleting this poll and starting another.

How can you leave out cars and vacations? What's the logic there?
I second.

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Can't_wait_to_Retire
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Post by Can't_wait_to_Retire » Wed Mar 24, 2010 10:31 am

Voted and left out items vacation, car, and mortgage payments.

I did keep in property tax payments.

Other items to consider are repairs for home and cars. I didn't include as they aren't monthly but occur in some years but not others.

Didn't include retirement savings payments either. I contribute to both Roth and 401(k), but it appears you are looking to costs when actually being retired.

Good point about family size. We're a couple no kids, I used the household total.

SP-diceman
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Post by SP-diceman » Wed Mar 24, 2010 10:40 am

Now you can see why they give the CPI numbers and
leave out food and energy.
(heh, heh)

Also if someone pays $2000 a month for a home
and one rents for $2000.
Down the road one will have an asset and the other wont.


Thanks
diceman

ensign_lee
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Post by ensign_lee » Wed Mar 24, 2010 10:43 am

Leaving out housing (mortgages) and cars eliminates well...the majority of most people's expenses.

So this poll will be heavily skewed to the downside.

TheEternalVortex
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Post by TheEternalVortex » Wed Mar 24, 2010 10:52 am

With the weird poll criteria my monthly expenses are probably $200 or something minimal like that.

GammaPoint
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Post by GammaPoint » Wed Mar 24, 2010 10:54 am

The expenses for my fiancee and I are probably around ~$2500/month. This is total, including rent.

TranceLordSnyder
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Post by TranceLordSnyder » Wed Mar 24, 2010 10:58 am

If I spent more than the 0-2000 category, I would not have a car, wouldn't be able to go on vacation, and would save nothing for retirement.

<---- Poor boglehead

Expenses following the guidelines here are roughly 1,100 per month

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paco sabio
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Post by paco sabio » Wed Mar 24, 2010 10:59 am

We fund 529 programs for our grandchildren with gifts each year. We spend on savings...but it's not ours. mmm! We also spend extra after tax money on taxes for the conversion of traditional IRA to a Roth.. Again we spend on future savings but it IS ours. Both are spent and represent a good part of our budget.

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HomerJ
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Post by HomerJ » Wed Mar 24, 2010 11:14 am

Boglenaut wrote:I suggest deleting this poll and starting another.

How can you leave out cars and vacations? What's the logic there?
Okay, you guys are right... How do I delete a post?

I just figured it would be hard to accurately add those in since they are not monthly expenses (yes, basically I'm saying I don't think Bogleheads know how to divide by 12) :) :)

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bob90245
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Post by bob90245 » Wed Mar 24, 2010 11:42 am

rrosenkoetter wrote:Okay, you guys are right... How do I delete a [thread]?
A PM to any of the helpful moderators should do the trick.
Ignore the market noise. Keep to your rebalancing schedule whether that is semi-annual, annual or trigger bands.

Alex Frakt
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Post by Alex Frakt » Wed Mar 24, 2010 1:22 pm

bob90245 wrote:
rrosenkoetter wrote:Okay, you guys are right... How do I delete a [thread]?
A PM to any of the helpful moderators should do the trick.
Since the contents of this thread do not violate any forum policies, we won't delete it. However, if you want to repost your poll on a new thread, I'll lock this one and include a link to the new one.

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CassiusKing
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Post by CassiusKing » Wed Mar 24, 2010 1:41 pm

Of all the poll responders who have selected $4k-6k, what are you spending this money on that isn't home, car or vacations?

Just curious. TIA.
"Who cares how time advances? I'm drinking ale today." -Edgar Allan Poe

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Can't_wait_to_Retire
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Post by Can't_wait_to_Retire » Wed Mar 24, 2010 1:57 pm

CassiusKing wrote:Of all the poll responders who have selected $4k-6k, what are you spending this money on that isn't home, car or vacations?

Just curious. TIA.
I'd bet Healthcare

mptfan
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Post by mptfan » Wed Mar 24, 2010 1:59 pm

Wine, women, and song. :D

TRC
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Post by TRC » Wed Mar 24, 2010 2:13 pm

Where's the "I don't know" option?

Ron
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Post by Ron » Wed Mar 24, 2010 2:25 pm

TRC wrote:Where's the "I don't know" option?
Right next to the "I don't care" option :wink: ...

- Ron

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HomerJ
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Post by HomerJ » Wed Mar 24, 2010 2:31 pm

Alex Frakt wrote:Since the contents of this thread do not violate any forum policies, we won't delete it. However, if you want to repost your poll on a new thread, I'll lock this one and include a link to the new one.
Make it so, Number One!! Er... please.... :oops:

Reworked poll and continued discussion can be found at http://www.bogleheads.org/forum/viewtopic.php?t=52419 - admin alex

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