Anyone want to share their monthly budget? Here's ours

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EnjoyIt
Posts: 2776
Joined: Sun Dec 29, 2013 8:06 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by EnjoyIt » Thu Oct 10, 2019 10:53 am

7eight9 wrote:
Thu Oct 10, 2019 10:39 am
2018 annual figures. 2 adults - MCOL city. No mortgage or car payments.

$188.1K - W2 wages

$18.6K - Income tax
$7.0K - International travel
$5.3K - HOA / Property taxes / insurance
$4.0K - Car insurance / registration / repair / gasoline (2 cars)
$3.3K - Food (groceries, beverages, eating out)
$2.6K - Household (everything from dish soap to a new bed)
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2)
$0.5K - Gifts
$0.4K - Clothing

Approximately $18.1K for day to day living ($1,500/month).

Income tax exceeds our annual requisite spend (excluding international travel which I view as discretionary).

And we spent pretty close to the poverty line for two people of $16,460 in 2018.
Do I understand this correctly? You make $188k/yr but spend approximately 10% of that every year? Does that mean after taxes you are saving close to $140k/yr? How long have you done this? Can I assume the goal is early retirement or do you have another goal in mind? I calculate saving like this for 3.5 years is all you need to retire at a 4% withdrawal rate

jpelder
Posts: 660
Joined: Mon Jan 26, 2015 3:56 pm
Location: Concord, NC

Re: Anyone want to share their monthly budget? Here's ours

Post by jpelder » Thu Oct 10, 2019 10:57 am

We just had our budget re-do meeting a few days ago, now that DW's new paycheck has settled.
I'm anal-retentive, and we both have natural overspender tendencies, so we track spending pretty closely. Both of us are teachers, and the paycheck numbers are take-home (so insurance, pension, and FSA are already taken out)

INCOME
John's Paycheck $2,891.00
Julie's Paycheck $2,390.00
Total $5,281.00

"FIXED EXPENSES
"
Internet $65.00
Mortgage $833.00 (This includes escrow for insurance and property tax, along with a few extra dollars of overpayment)
Car Tags $31.83
Car Insurance $101.48
Cell Phone $55.00
Total $1,086.31

"FIXED SAVINGS
"
"John's IRA
" $375.00
"Julie's IRA
" $375.00
Car $400.00
Vacations $166.67
Moldova Trip $600.00
Total $1,916.67

FLUX SPENDING
Groceries $700.00
School Supplies $100.00 (We often spend more than this on school supplies for our classrooms, but occasionally get cash gifts from family that we put toward this category)
Fuel $150.00
Utilities $220.00
Hair Cuts $45.00
Home Improvement $140.00
Pets $140.00
Total $1,495.00

DISCRETIONARY
Restaurants $200.00
Pharmacy $40.00
Clothing $160.00
Entertainment $60.00
Julie Random $25.00
John Random $25.00
Christmas $35.00
John's Birthday $5.00
Julie's Birthday $5.00
Random Fund $120.00 (This pretty much acts as our small-level emergency fund and also covers car maintenance)
Anniversary Gifts $8.33
Charity $65.00
Total $748.33


GRAND TOTAL $5,246.31
TOTAL INCOME $5,281.00

Many of those lines are annual expenses that we allocate money for each month. We're going to a friend's wedding in Moldova next summer, and we're going to take the opportunity to see Romania, Croatia, Bulgaria, or some other places in that part of the world. That $600 will be split into retirement and car savings after next August

7eight9
Posts: 382
Joined: Fri May 17, 2019 7:11 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by 7eight9 » Thu Oct 10, 2019 11:04 am

EnjoyIt wrote:
Thu Oct 10, 2019 10:53 am
7eight9 wrote:
Thu Oct 10, 2019 10:39 am
2018 annual figures. 2 adults - MCOL city. No mortgage or car payments.

$188.1K - W2 wages

$18.6K - Income tax
$7.0K - International travel
$5.3K - HOA / Property taxes / insurance
$4.0K - Car insurance / registration / repair / gasoline (2 cars)
$3.3K - Food (groceries, beverages, eating out)
$2.6K - Household (everything from dish soap to a new bed)
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2)
$0.5K - Gifts
$0.4K - Clothing

Approximately $18.1K for day to day living ($1,500/month).

Income tax exceeds our annual requisite spend (excluding international travel which I view as discretionary).

And we spent pretty close to the poverty line for two people of $16,460 in 2018.
Do I understand this correctly? You make $188k/yr but spend approximately 10% of that every year? Does that mean after taxes you are saving close to $140k/yr? How long have you done this? Can I assume the goal is early retirement or do you have another goal in mind? I calculate saving like this for 3.5 years is all you need to retire at a 4% withdrawal rate
Social Security and Medicare consumed another $14.4K. So around $130K saved. Last year was a good year for working. It hasn't always been that good by any stretch of the imagination. This year's numbers will be about the same but I've been unemployed for the past nearly seven months and expect to earn less next year. The spend at $18K has remained essentially constant over the years.

Right now we have app. $1.32M saved. I would like to retire sooner rather than later. My wife has other ideas. She thinks we need to have $1.5-2.0M saved so still working for now.
I guess it all could be much worse. | They could be warming up my hearse.

EnjoyIt
Posts: 2776
Joined: Sun Dec 29, 2013 8:06 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by EnjoyIt » Thu Oct 10, 2019 11:09 am

7eight9 wrote:
Thu Oct 10, 2019 11:04 am
EnjoyIt wrote:
Thu Oct 10, 2019 10:53 am
7eight9 wrote:
Thu Oct 10, 2019 10:39 am
2018 annual figures. 2 adults - MCOL city. No mortgage or car payments.

$188.1K - W2 wages

$18.6K - Income tax
$7.0K - International travel
$5.3K - HOA / Property taxes / insurance
$4.0K - Car insurance / registration / repair / gasoline (2 cars)
$3.3K - Food (groceries, beverages, eating out)
$2.6K - Household (everything from dish soap to a new bed)
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2)
$0.5K - Gifts
$0.4K - Clothing

Approximately $18.1K for day to day living ($1,500/month).

Income tax exceeds our annual requisite spend (excluding international travel which I view as discretionary).

And we spent pretty close to the poverty line for two people of $16,460 in 2018.
Do I understand this correctly? You make $188k/yr but spend approximately 10% of that every year? Does that mean after taxes you are saving close to $140k/yr? How long have you done this? Can I assume the goal is early retirement or do you have another goal in mind? I calculate saving like this for 3.5 years is all you need to retire at a 4% withdrawal rate
Social Security and Medicare consumed another $14.4K. So around $130K saved. Last year was a good year for working. It hasn't always been that good by any stretch of the imagination. This year's numbers will be about the same but I've been unemployed for the past nearly seven months and expect to earn less next year. The spend at $18K has remained essentially constant over the years.

Right now we have app. $1.32M saved. I would like to retire sooner rather than later. My wife has other ideas. She thinks we need to have $1.5-2.0M saved so still working for now.
Very impressive savings percentage. What are you going to do with all that money if you are spending so little? Are you planning on spending more in retirement? Even at a 2% withdrawal rate ($26k/yr) which is going to last you forever and more than likely just keep growing, it has already surpassed your current spending significantly. What is the goal here or do you just like work and enjoy the process of building wealth which will continue to happen throughout retirement.

wwsdt
Posts: 9
Joined: Wed Apr 18, 2018 6:31 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by wwsdt » Thu Oct 10, 2019 11:26 am

Here is ours (roughly)

HCOL, urban, 2 adults and 1 child

Pre-tax monthly income:
His: $15K
Hers: $8.5K

Pre-tax monthly deductions:
His 403b: $1584
Her 403b: $1584
Her 457: $1584
Medical insurance (for all 3): $620
Disability/vision/dental insurance: $50
Dependent care FSA: $200 (the expenses charged to this are not listed below)
Health care FSA: $200 (the expenses charged to this are not listed below)

Taxes: $5K
Take-home pay: $12.5K

Average monthly expenses:
Mortgage, including property tax and insurance: $5500 (20-year loan, 3.625%)
529 contributions: $1200
His backdoor Roth: $500
Her backdoor Roth: $500
Groceries: $700
Student loans: $520 (fixed at 3.375%)
Travel: $500
Home maintenance: $500
Clothes, school supplies, and misc. other purchases: $500 (very rough estimate)
House cleaning (2x per month): $280
Restaurants: $200
Gym membership (total for both): $130
Water: $100
Electric: $70
Gas (house): $50
Internet: $45
Home security: $45
Gas (car): $40
Car maintenance: $40
Car insurance: $40
Car payment: $0

Left over for additional savings: $1000

iamblessed
Posts: 283
Joined: Sat Jun 09, 2018 11:52 am

Re: Anyone want to share their monthly budget? Here's ours

Post by iamblessed » Thu Oct 10, 2019 7:10 pm

7eight9 wrote:
Thu Oct 10, 2019 10:39 am
2018 annual figures. 2 adults - MCOL city. No mortgage or car payments.

$188.1K - W2 wages

$18.6K - Income tax
$7.0K - International travel
$5.3K - HOA / Property taxes / insurance
$4.0K - Car insurance / registration / repair / gasoline (2 cars)
$3.3K - Food (groceries, beverages, eating out)
$2.6K - Household (everything from dish soap to a new bed)
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2)
$0.5K - Gifts
$0.4K - Clothing

Approximately $18.1K for day to day living ($1,500/month).

Income tax exceeds our annual requisite spend (excluding international travel which I view as discretionary).

And we spent pretty close to the poverty line for two people of $16,460 in 2018.
If it is not to personal what state are you getting this done in? We spend 1600 with no international travel.

7eight9
Posts: 382
Joined: Fri May 17, 2019 7:11 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by 7eight9 » Thu Oct 10, 2019 7:18 pm

EnjoyIt wrote:
Thu Oct 10, 2019 11:09 am
7eight9 wrote:
Thu Oct 10, 2019 11:04 am
EnjoyIt wrote:
Thu Oct 10, 2019 10:53 am
7eight9 wrote:
Thu Oct 10, 2019 10:39 am
2018 annual figures. 2 adults - MCOL city. No mortgage or car payments.

$188.1K - W2 wages

$18.6K - Income tax
$7.0K - International travel
$5.3K - HOA / Property taxes / insurance
$4.0K - Car insurance / registration / repair / gasoline (2 cars)
$3.3K - Food (groceries, beverages, eating out)
$2.6K - Household (everything from dish soap to a new bed)
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2)
$0.5K - Gifts
$0.4K - Clothing

Approximately $18.1K for day to day living ($1,500/month).

Income tax exceeds our annual requisite spend (excluding international travel which I view as discretionary).

And we spent pretty close to the poverty line for two people of $16,460 in 2018.
Do I understand this correctly? You make $188k/yr but spend approximately 10% of that every year? Does that mean after taxes you are saving close to $140k/yr? How long have you done this? Can I assume the goal is early retirement or do you have another goal in mind? I calculate saving like this for 3.5 years is all you need to retire at a 4% withdrawal rate
Social Security and Medicare consumed another $14.4K. So around $130K saved. Last year was a good year for working. It hasn't always been that good by any stretch of the imagination. This year's numbers will be about the same but I've been unemployed for the past nearly seven months and expect to earn less next year. The spend at $18K has remained essentially constant over the years.

Right now we have app. $1.32M saved. I would like to retire sooner rather than later. My wife has other ideas. She thinks we need to have $1.5-2.0M saved so still working for now.
Very impressive savings percentage. What are you going to do with all that money if you are spending so little? Are you planning on spending more in retirement? Even at a 2% withdrawal rate ($26k/yr) which is going to last you forever and more than likely just keep growing, it has already surpassed your current spending significantly. What is the goal here or do you just like work and enjoy the process of building wealth which will continue to happen throughout retirement.
No real plans for now. Just kind of hoping to retire sooner than later and figure it out then.

@iamblessed - We live in Clark County, Nevada (Las Vegas area)
I guess it all could be much worse. | They could be warming up my hearse.

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bengal22
Posts: 1832
Joined: Sat Dec 03, 2011 6:20 pm
Location: Ohio

Re: Anyone want to share their monthly budget? Here's ours

Post by bengal22 » Thu Oct 10, 2019 7:42 pm

Below is our monthly budget:
"Earn All You Can; Give All You Can; Save All You Can." .... John Wesley

iamblessed
Posts: 283
Joined: Sat Jun 09, 2018 11:52 am

Re: Anyone want to share their monthly budget? Here's ours

Post by iamblessed » Thu Oct 10, 2019 8:14 pm

7eight9 wrote:
Thu Oct 10, 2019 10:39 am
2018 annual figures. 2 adults - MCOL city. No mortgage or car payments.

$188.1K - W2 wages

$18.6K - Income tax
$7.0K - International travel
$5.3K - HOA / Property taxes / insurance
$4.0K - Car insurance / registration / repair / gasoline (2 cars)
$3.3K - Food (groceries, beverages, eating out)
$2.6K - Household (everything from dish soap to a new bed)
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2)
$0.5K - Gifts
$0.4K - Clothing

Approximately $18.1K for day to day living ($1,500/month).

Income tax exceeds our annual requisite spend (excluding international travel which I view as discretionary).

And we spent pretty close to the poverty line for two people of $16,460 in 2018.
Your Food budget is amazing for two people. How do you do it?
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2) Wow what is your electric bill in Vagas?
Are you in a 1br condo?

7eight9
Posts: 382
Joined: Fri May 17, 2019 7:11 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by 7eight9 » Thu Oct 10, 2019 8:50 pm

iamblessed wrote:
Thu Oct 10, 2019 8:14 pm
7eight9 wrote:
Thu Oct 10, 2019 10:39 am
2018 annual figures. 2 adults - MCOL city. No mortgage or car payments.

$188.1K - W2 wages

$18.6K - Income tax
$7.0K - International travel
$5.3K - HOA / Property taxes / insurance
$4.0K - Car insurance / registration / repair / gasoline (2 cars)
$3.3K - Food (groceries, beverages, eating out)
$2.6K - Household (everything from dish soap to a new bed)
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2)
$0.5K - Gifts
$0.4K - Clothing

Approximately $18.1K for day to day living ($1,500/month).

Income tax exceeds our annual requisite spend (excluding international travel which I view as discretionary).

And we spent pretty close to the poverty line for two people of $16,460 in 2018.
Your Food budget is amazing for two people. How do you do it?
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2) Wow what is your electric bill in Vagas?
Are you in a 1br condo?
Your Food budget is amazing for two people. How do you do it?
We shop at a lot of different grocery stores and buy what is on sale pretty much exclusively. Looking at last month (just for example) we shopped at Smith's, Winco, Albertson's, Cardenas, Natural Grocers, Vons, WalMart, Sprouts and Trader Joe's.

$2.0K - Electric / natural gas / internet / home phone / cellular phones (2) Wow what is your electric bill in Vagas?
The high this year was last month's bill for August - $127. There are three bad months when the bill gets close to or over $100 (June, July, August). For the entire year it is less than $700.

Are you in a 1br condo?
3br condo
I guess it all could be much worse. | They could be warming up my hearse.

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abuss368
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Re: Anyone want to share their monthly budget? Here's ours

Post by abuss368 » Thu Oct 10, 2019 8:54 pm

We don't really follow a budget. The fixed costs are known and the variable costs are usually the same each month. What is left is for discretionary.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

ge1
Posts: 486
Joined: Sat Apr 28, 2012 8:15 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by ge1 » Thu Oct 10, 2019 9:04 pm

Annual income 600k+

Monthly budget

Food (groceries, dining): $3,200
Shopping: $2,000
Travel: $2,000
School kids: $1,500
Home maintenance / insurance $1,500
Cars: $1,200
Utilities including cell phone, internet: $1,200
Pets: $900
Health & Fitness: $800
Country Club: $800
Personal Care: $600
Entertainment: $500
Property Taxes: $400
Kids Activities: $400

Total $17,000 per month

iamblessed
Posts: 283
Joined: Sat Jun 09, 2018 11:52 am

Re: Anyone want to share their monthly budget? Here's ours

Post by iamblessed » Thu Oct 10, 2019 9:31 pm

7eight9 wrote:
Thu Oct 10, 2019 8:50 pm
iamblessed wrote:
Thu Oct 10, 2019 8:14 pm
7eight9 wrote:
Thu Oct 10, 2019 10:39 am
2018 annual figures. 2 adults - MCOL city. No mortgage or car payments.

$188.1K - W2 wages

$18.6K - Income tax
$7.0K - International travel
$5.3K - HOA / Property taxes / insurance
$4.0K - Car insurance / registration / repair / gasoline (2 cars)
$3.3K - Food (groceries, beverages, eating out)
$2.6K - Household (everything from dish soap to a new bed)
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2)
$0.5K - Gifts
$0.4K - Clothing

Approximately $18.1K for day to day living ($1,500/month).

Income tax exceeds our annual requisite spend (excluding international travel which I view as discretionary).

And we spent pretty close to the poverty line for two people of $16,460 in 2018.
Your Food budget is amazing for two people. How do you do it?
$2.0K - Electric / natural gas / internet / home phone / cellular phones (2) Wow what is your electric bill in Vagas?
Are you in a 1br condo?
Your Food budget is amazing for two people. How do you do it?
We shop at a lot of different grocery stores and buy what is on sale pretty much exclusively. Looking at last month (just for example) we shopped at Smith's, Winco, Albertson's, Cardenas, Natural Grocers, Vons, WalMart, Sprouts and Trader Joe's.

$2.0K - Electric / natural gas / internet / home phone / cellular phones (2) Wow what is your electric bill in Vagas?
The high this year was last month's bill for August - $127. There are three bad months when the bill gets close to or over $100 (June, July, August). For the entire year it is less than $700.

Are you in a 1br condo?
3br condo
Our budget is very close to yours(1606). We have only one car and eat organic. We don't travel international. You are doing a great job. Super given your income.

youngcd12
Posts: 11
Joined: Thu Apr 18, 2019 9:40 am

Re: Anyone want to share their monthly budget? Here's ours

Post by youngcd12 » Fri Oct 11, 2019 7:41 am

26 y/o male, LCOL area in WI

Rent: $750 (pretty nice 2BR apartment for area)
Car Payment: $682 (Tesla Model 3 payment, bought recently, I drive 40k miles per year, charge it for free mostly, so it reduced my previous gas expense by about $350 per month, not to mention maintenance and depreciation in gas vehicle)
Utility Bill: $50
YouTube TV: $25
Internet: $25
Health Insurance: $165
Gas: $0 (electric vehicle)
Groceries: $110
Car Insurance: $88
Work Lunches: $100
Dog Grooming/Food: $20
Dates w/ Fiance: $100

Total Monthly Expense: $2,115
Net Savings Rate: 65%

Rent, utilities, TV, and groceries are split with fiance which results in the low numbers seen above.

FI4LIFE
Posts: 212
Joined: Sun Apr 28, 2019 9:27 am

Re: Anyone want to share their monthly budget? Here's ours

Post by FI4LIFE » Fri Oct 11, 2019 9:08 am

I find it interesting that most responders are singles or couples with no kids. The rest of us are too busy to budget or don't really want to know.

:mrgreen:

Admiral
Posts: 2437
Joined: Mon Oct 27, 2014 12:35 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by Admiral » Fri Oct 11, 2019 12:06 pm

FI4LIFE wrote:
Fri Oct 11, 2019 9:08 am
I find it interesting that most responders are singles or couples with no kids. The rest of us are too busy to budget or don't really want to know.

:mrgreen:
We have two teens. We clear around 13k/month after taxes and retirement savings and basically spend every penny, in descending order: school tuition, mortgage, groceries and restaurants, miscellany, and utils.

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1789
Posts: 236
Joined: Fri Aug 16, 2019 3:31 pm
Location: OR

Re: Anyone want to share their monthly budget? Here's ours

Post by 1789 » Sat Oct 12, 2019 12:58 am

We don’t do budget as I mentioned I hate that word in another thread. But I believe we spent around 5k net for necessary expenses including daycare for our only kid ( biggest expense, around 1.3k),mortgage (1.1k), bills (500), cars (1k, including one car loan, insurances, gas etc..). I think 1k would be groceries and restaurant/coffees etc... You see I couldn’t calculate exactly :P
"My conscience wants vegetarianism to win over the world. And my subconscious is yearning for a piece of juicy meat. But what do i want?" (Andrei Tarkovsky)

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CyclingDuo
Posts: 2647
Joined: Fri Jan 06, 2017 9:07 am

Re: Anyone want to share their monthly budget? Here's ours

Post by CyclingDuo » Sat Oct 12, 2019 10:21 am

Budget from Empty Nest Dual Income Household*
•A big chunk of our monthly income goes to max out + catch ups for two pre-tax plans via one 403b and one 457b plan ($4165 per month), a mandatory pension contribution deduction ($461 per month), health care & dental premium deduction for family ($540 & $74 per month) from salary, a part-time job 401k ($350 per month), and a part-time job company stock ESPP ($200 per month).

Monthly Income

Monthly Net Income from Salaries: $6165**
**Take home post-tax, post-employee retirement contributions, post-pension contribution, post-health & dental premium, post-ESPP
Monthly Qualified Dividend Income in Taxable: $2175

Total of Net Income + Dividend Income Monthly: $8340


Household Expenses & Additional Savings

Additional Monthly Investments in Taxable Accounts: $334
Roth IRA Contributions (two plans + catch ups): $1167 (funded from the dividends)
Monthly Reinvestment of Dividends: $1008
Vacation & Travel Fund: $275
Home Maintenance & Auto Replacement Fund: $516
Charitable Giving: $125
Mortgage PITI (includes additional principal payment): $1432
Utilities: $335
Cable/Internet: $211
Garbage: $18
Automotive Gas & Maintenance & Registration: $380
Auto Insurance & Umbrella Insurance: $178
Groceries: $782
Restaurants: $403
Clothing: $223
Cell Phones Unlimited Plan (family of 4 on the plan): $166
Personal Grooming: $135
Subscriptions: $85
Entertainment: $160
Miscellaneous: $34
Fun Money: $160
Medicine: $95
Pets: $118

Total of Household Expenses & Additional Savings: $8340

We use the Every Dollar App to create each month's budget: https://www.everydollar.com/

A deep dive into our budget and change in our household cash flow over the past 20 months led to a goal of cutting expenses as we settled into a confluence of events. Those events included entering the pre-retirement years, empty nest years, change in employment, children's college educations and costs being complete, and our final years of working full time phase. The other reason for the cuts included the goal - due to recency bias or necessary experiment - of trying to live on one salary in case of future layoffs or downsizing with regard to household expenses, or a transition into retirement utilizing some income phase years for both of us only working part-time if so desired.

What we studied, discussed, and agreed upon to cut as we have transitioned over the past 20 months (after a job loss and the confluence of events)...

$1000 per year ($83 per month) was cut from wine club memberships.
$6100 per year ($511 per month) was cut from our grocery bill (a chunk of that came from our love of wine).
$5600 per year ($466 per month) was cut from our restaurant and eating lunch out at work bill.
$1200 per year ($100 per month) was cut from our phone bill.
$1100 per year ($91 per month) was cut from bicycle racing expenses.
$1200 per year ($100 per month) was reduced from our vacation fund as we reexamined our vacation wants.

Total of $16,200 in cuts per year.

One increase to our monthly/annual budget over the past 13-14 months has been the additional annual cost of $2122 ($176 per month) for commuting expenses due to the replacement income I found from two new jobs. Subtracting the new commuting expenses from the cuts above still netted us a savings of $14,100 per year ($1175 per month) in budget cuts over our prior household cash flow.

When it comes to making a budget - don't be afraid to dive in deep and take a look at what actually is coming in and going out. We were, and still are to some extent, guilty of blurring the lines more than we should have between wants and needs over the past decade. :shock:

Fortunately, we stuck to a strict budget the two and half decades before that. We feel better being back on track again.

CyclingDuo
"Everywhere is within walking distance if you have the time." ~ Steven Wright

catlady
Posts: 40
Joined: Sat Mar 26, 2016 8:31 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by catlady » Sat Oct 12, 2019 12:23 pm

Mid/late 30s, DINK, MCOL. Numbers based on net income (after max pre-tax 401k, health ins, transit, payroll taxes, etc) and before bonus/RSU. Roth IRAs and I bonds fully funded at the beginning of the year with bonus money. Home maintenance and additional misc spending cash flowed from bonus/RSU vesting.

Code: Select all

mortgage 		2700 (3.5%, ?? years remaining, estimated payoff with prepay < 5 years)
hoa			300
car			1000 (0%, 11 months remaining)
cable/phone		400
utilities		250
misc spending		3000
-------------
total spending		7650
	
mortgage prepay		3000
after tax invest	8000
-------------
total outgoing 		18650

acegolfer
Posts: 1461
Joined: Tue Aug 25, 2009 9:40 am

Re: Anyone want to share their monthly budget? Here's ours

Post by acegolfer » Sat Oct 12, 2019 6:36 pm

FI4LIFE wrote:
Fri Oct 11, 2019 9:08 am
I find it interesting that most responders are singles or couples with no kids. The rest of us are too busy to budget or don't really want to know.

:mrgreen:
Since you asked, family of 4 (2 kids)

Auto: $540
Food/Dining: $1240
Household/clothing/cash: $1220
Home/tax/HOI/HOA/maintenance/util: $1060
Education/529: $2340
Travel/Hobby: $660
Medical: $1250
Tax/FICA: $1920
Other: $100

pepys
Posts: 37
Joined: Mon Nov 12, 2018 10:34 am

Re: Anyone want to share their monthly budget? Here's ours

Post by pepys » Sat Oct 12, 2019 11:50 pm

Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.

sabresgrl06
Posts: 14
Joined: Mon Apr 02, 2018 10:11 am

Re: Anyone want to share their monthly budget? Here's ours

Post by sabresgrl06 » Sun Oct 13, 2019 6:26 am

Cool thread idea :)

US expat here living in Berlin, so values are in Euros.
Single, no kids, 31 years old.

Monthly Pre-Tax: 4,620
Taxes: 872.41
Mandatory Govt Pension: 429.66
Unemployment: 57.75
Other Insurance: 47.98
Health Insurance: 450.35

Monthly Net: 2,761 (rounded for ease)

Monthly Budget:
Rent: 750
Phone: 36
Utilities: 50
Transportation: 75
Internet: 36
Household:70
Groceries: 230
Personal: 150
Dining Out: 100
Fun: 80
Medical: 70 (out of pocket - dental insurance, medicines, etc.)
Travel: 100
Gifts: 50
Clothes: 150
Pets: 50
Fitness: 48
Hobbies: 55
Savings: 600
Other: 50

**Savings are further divided into re-builiding up emergency fund (had some unexpected large expenses last year) and sending around $150 to after-tax ETFs. As I don't earn income in US, I am not eligible for any pre-tax retirement contributions or plans, so far as I understand. Part of trade-off for more comfortable work/life balance that I enjoy in Europe, plus the additional paid time off and sick leave.

These are average expenses per month - sometimes some are higher or lower. Anything left over is also transferred to savings at the end of the month, mimicking living "paycheck to paycheck" with checking account.

sabresgrl06
Posts: 14
Joined: Mon Apr 02, 2018 10:11 am

Re: Anyone want to share their monthly budget? Here's ours

Post by sabresgrl06 » Sun Oct 13, 2019 6:32 am

pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
How are you managing just $49 for groceries and food for the whole month?

pepys
Posts: 37
Joined: Mon Nov 12, 2018 10:34 am

Re: Anyone want to share their monthly budget? Here's ours

Post by pepys » Sun Oct 13, 2019 12:06 pm

sabresgrl06 wrote:
Sun Oct 13, 2019 6:32 am
pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
How are you managing just $49 for groceries and food for the whole month?
My price point for peanut butter, ground flax seed, pinto beans, brown rice, pasta, and oats are all well under $1 per 1000 calories. This is where I get the vast majority of my calories.

For example, 42 oz canisters of oats (4500 calories) are $2.49 at my Kroger, but my price point is $2.00. That's 2,250 cal/$. Sometimes I can get them for $1.30 (3460 cal/$).

Very few fruits and vegetables. Mostly bananas, canned tomatoes, and frozen broccoli.

Would not recommend.

sabresgrl06
Posts: 14
Joined: Mon Apr 02, 2018 10:11 am

Re: Anyone want to share their monthly budget? Here's ours

Post by sabresgrl06 » Sun Oct 13, 2019 2:19 pm

pepys wrote:
Sun Oct 13, 2019 12:06 pm
sabresgrl06 wrote:
Sun Oct 13, 2019 6:32 am
pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
How are you managing just $49 for groceries and food for the whole month?
My price point for peanut butter, ground flax seed, pinto beans, brown rice, pasta, and oats are all well under $1 per 1000 calories. This is where I get the vast majority of my calories.

For example, 42 oz canisters of oats (4500 calories) are $2.49 at my Kroger, but my price point is $2.00. That's 2,250 cal/$. Sometimes I can get them for $1.30 (3460 cal/$).

Very few fruits and vegetables. Mostly bananas, canned tomatoes, and frozen broccoli.

Would not recommend.
Well, credit where credit is due.

EnjoyIt
Posts: 2776
Joined: Sun Dec 29, 2013 8:06 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by EnjoyIt » Sun Oct 13, 2019 5:17 pm

pepys wrote:
Sun Oct 13, 2019 12:06 pm
sabresgrl06 wrote:
Sun Oct 13, 2019 6:32 am
pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
How are you managing just $49 for groceries and food for the whole month?
My price point for peanut butter, ground flax seed, pinto beans, brown rice, pasta, and oats are all well under $1 per 1000 calories. This is where I get the vast majority of my calories.

For example, 42 oz canisters of oats (4500 calories) are $2.49 at my Kroger, but my price point is $2.00. That's 2,250 cal/$. Sometimes I can get them for $1.30 (3460 cal/$).

Very few fruits and vegetables. Mostly bananas, canned tomatoes, and frozen broccoli.

Would not recommend.
That is an amazing nutrition budget. May I please ask, if you don't recommend it, why are your doing it? Why not spend a little more and have a bit more fresh fruits, veggies, and maybe some meats if you are not a vegetarian? What is your goal?

I ask because if the goal is to save as much as possible as fast as possible and retire as soon as possible, I wonder if you are giving up some health for the sake of how rapidly you can reach your goal. You may be giving up good healthy life on the back end to gain earlier freedom on the front end. If that makes sense.

I'm not trying to judge, just giving maybe an alternative perspective that you may or may not have considered.

pepys
Posts: 37
Joined: Mon Nov 12, 2018 10:34 am

Re: Anyone want to share their monthly budget? Here's ours

Post by pepys » Sun Oct 13, 2019 7:46 pm

EnjoyIt wrote:
Sun Oct 13, 2019 5:17 pm
pepys wrote:
Sun Oct 13, 2019 12:06 pm
sabresgrl06 wrote:
Sun Oct 13, 2019 6:32 am
pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
How are you managing just $49 for groceries and food for the whole month?
My price point for peanut butter, ground flax seed, pinto beans, brown rice, pasta, and oats are all well under $1 per 1000 calories. This is where I get the vast majority of my calories.

For example, 42 oz canisters of oats (4500 calories) are $2.49 at my Kroger, but my price point is $2.00. That's 2,250 cal/$. Sometimes I can get them for $1.30 (3460 cal/$).

Very few fruits and vegetables. Mostly bananas, canned tomatoes, and frozen broccoli.

Would not recommend.
That is an amazing nutrition budget. May I please ask, if you don't recommend it, why are your doing it? Why not spend a little more and have a bit more fresh fruits, veggies, and maybe some meats if you are not a vegetarian? What is your goal?

I ask because if the goal is to save as much as possible as fast as possible and retire as soon as possible, I wonder if you are giving up some health for the sake of how rapidly you can reach your goal. You may be giving up good healthy life on the back end to gain earlier freedom on the front end. If that makes sense.

I'm not trying to judge, just giving maybe an alternative perspective that you may or may not have considered.
I thought it would be interesting to see how low I could go without making large sacrifices. I was trying to get under $1000 (not counting health insurance), but that's looking unlikely now. Phone bill will drop soon, but I can't really see anything I would be okay with cutting after that. I'll move toward $2.50 per day for groceries eventually (~75 per month), which will allow me to increase fruits/vegetables to the recommended level while still staying very cheap.

User avatar
zaboomafoozarg
Posts: 2039
Joined: Sun Jun 12, 2011 12:34 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by zaboomafoozarg » Sun Oct 13, 2019 10:15 pm

Clarice wrote:
Wed Oct 09, 2019 6:25 am
djpeteski wrote:
Mon Oct 01, 2018 1:29 pm
Thank you for being one of the few budgets that includes significant charitable giving. IMHO, this is a key part of wealth building.
How does giving wealth build wealth?
It builds somebody else's wealth :D

tigers174
Posts: 15
Joined: Sun Feb 03, 2019 3:24 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by tigers174 » Mon Oct 14, 2019 8:31 pm

FI4LIFE wrote:
Fri Oct 11, 2019 9:08 am
I find it interesting that most responders are singles or couples with no kids. The rest of us are too busy to budget or don't really want to know.

:mrgreen:
Married, single income, 3 kids under 7.
Monthly take home after taxes, 401k, etc. = $6,600

Mortgage - $1250
Utilities (power, gas, water, internet) - $325
Cell - $75
TV - $50
Groceries - $900
Eat out - $150
Kids (school, clothes, diapers, presents, extracurriculars) - $350
Kids 529 - $600

Cars
Gas - $240
Maintenance - $42
Insurance - $175
Van payment - $250
Taxes - $55

Animals (dogs, horses)
Vet - $40
Heartworm, vaccinations - $50
Food - $40
Farrier - $30

Medical - $100
Gym - $50

Also have a farm that mostly breaks even when the tractor payment is included.

Throw in random items not budgeted that have popped and we've ended up around $5500 total monthly for the year.

Dregob
Posts: 36
Joined: Wed Sep 26, 2018 9:45 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by Dregob » Mon Oct 14, 2019 9:40 pm

An outlier here. I've never made a budget. We've always maxed out IRAs and 403bs (going on 35 years). At the end of the month any money left over (and there usually is) gets invested.

Dregob
Posts: 36
Joined: Wed Sep 26, 2018 9:45 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by Dregob » Mon Oct 14, 2019 9:45 pm

EnjoyIt wrote:
Sun Oct 13, 2019 5:17 pm
pepys wrote:
Sun Oct 13, 2019 12:06 pm
sabresgrl06 wrote:
Sun Oct 13, 2019 6:32 am
pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
How are you managing just $49 for groceries and food for the whole month?
My price point for peanut butter, ground flax seed, pinto beans, brown rice, pasta, and oats are all well under $1 per 1000 calories. This is where I get the vast majority of my calories.

For example, 42 oz canisters of oats (4500 calories) are $2.49 at my Kroger, but my price point is $2.00. That's 2,250 cal/$. Sometimes I can get them for $1.30 (3460 cal/$).

Very few fruits and vegetables. Mostly bananas, canned tomatoes, and frozen broccoli.

Would not recommend.
That is an amazing nutrition budget. May I please ask, if you don't recommend it, why are your doing it? Why not spend a little more and have a bit more fresh fruits, veggies, and maybe some meats if you are not a vegetarian? What is your goal?

I ask because if the goal is to save as much as possible as fast as possible and retire as soon as possible, I wonder if you are giving up some health for the sake of how rapidly you can reach your goal. You may be giving up good healthy life on the back end to gain earlier freedom on the front end. If that makes sense.

I'm not trying to judge, just giving maybe an alternative perspective that you may or may not have considered.
Is the idea that cutting out all those healthy fruits and veggies shortens your lifespan and thus helps to ensure you don't outlive your retirement funds. :shock:

wyoming82240
Posts: 30
Joined: Mon Jun 17, 2019 9:35 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by wyoming82240 » Mon Oct 14, 2019 10:52 pm

Here is our budget.

Monthly income: $4000 after taxes
Savings First before we begin our spending:
HSA: 584
IRA: 500
457: 500
529: 265
Emergency fund: 125

Expenses
Rent: 675
Renter Insurance: 10
Phone for 2 lines: 60
Internet: 20
Food for 3: 350
Life insurance: 27
Auto insurance, registration, maintenance: 125
Fuel: 30
Miscellaneous expense: 100
Preschool: 150
Monthly allowance: 80

pepys
Posts: 37
Joined: Mon Nov 12, 2018 10:34 am

Re: Anyone want to share their monthly budget? Here's ours

Post by pepys » Thu Nov 07, 2019 5:49 pm

Dregob wrote:
Mon Oct 14, 2019 9:45 pm
EnjoyIt wrote:
Sun Oct 13, 2019 5:17 pm
pepys wrote:
Sun Oct 13, 2019 12:06 pm
sabresgrl06 wrote:
Sun Oct 13, 2019 6:32 am
pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
How are you managing just $49 for groceries and food for the whole month?
My price point for peanut butter, ground flax seed, pinto beans, brown rice, pasta, and oats are all well under $1 per 1000 calories. This is where I get the vast majority of my calories.

For example, 42 oz canisters of oats (4500 calories) are $2.49 at my Kroger, but my price point is $2.00. That's 2,250 cal/$. Sometimes I can get them for $1.30 (3460 cal/$).

Very few fruits and vegetables. Mostly bananas, canned tomatoes, and frozen broccoli.

Would not recommend.
That is an amazing nutrition budget. May I please ask, if you don't recommend it, why are your doing it? Why not spend a little more and have a bit more fresh fruits, veggies, and maybe some meats if you are not a vegetarian? What is your goal?

I ask because if the goal is to save as much as possible as fast as possible and retire as soon as possible, I wonder if you are giving up some health for the sake of how rapidly you can reach your goal. You may be giving up good healthy life on the back end to gain earlier freedom on the front end. If that makes sense.

I'm not trying to judge, just giving maybe an alternative perspective that you may or may not have considered.
Is the idea that cutting out all those healthy fruits and veggies shortens your lifespan and thus helps to ensure you don't outlive your retirement funds. :shock:
That was not the plan, although I agree it's a possible side effect. I haven't noticed any health changes since starting to eat this way. On nutrients, I basically meet everything on cronometer. I'm not aware of any studies showing that fruits and vegetables improve health when nutrient intake is similar. And I do have a considerable amount of the above fruits/vegetables, as well as a lot of beans, which sort of count.

moneybags
Posts: 20
Joined: Wed Jul 13, 2011 4:55 am

Re: Anyone want to share their monthly budget? Here's ours

Post by moneybags » Thu Nov 07, 2019 6:17 pm

Family of 3 (1 infant) in San Francisco

General
Fun, Food, Home, Supplies - $2000 (Groceries, eating out, bars, entertainment, cat food, everything else)
Personal Allowance - $700 (We split this and spend it however we please eg. clothes/shoes/toys/gifts)
Internet, Phones, Media - $200 (Includes software subscriptions)
Special Meal - $150 (One nicer meal a month)

Misc
Travel - $800
Financial Advisor - $100 (May axe this one soon!)
Charitable Giving - $50
Annual Expenses - $40 (Annual memberships eg. Zipcar, Costco, Prime)

Housing
Rent & Insurance - $2856 (2 bedroom)
Cleaning - $100
Electricity - $70

Family
Childcare - $2100
Family Fund - $120 (To SO's parents/family)
Life & Umbrella Insurance - $45

1 Car
Car Park, Insure, Register - $310 ($200 of this is for parking)
Car Gas - $200
Car Maintenance: $80

Total: $9,921

Medical Expenses - $0 (Paid out of FSA funds)
Fitness - $0 (Paid for my employers)

Carpenterant
Posts: 10
Joined: Thu Mar 28, 2019 3:46 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by Carpenterant » Thu Nov 07, 2019 6:44 pm

I’ll give it a shot

Married three kids single income

Take home $4194

Tithe 484
Giving 70
Two Roth IRA 1000
Mortgage pimi 684
Electric 140
Water 120
Phone/internet 96
Grocery 460
Gas 200
Vitamins 50
Life insurance 48
Health insurance 2
Auto insurance 50
Pets/animals 160
His/hers spending 160
Kids stuff 104
Hunting 100

The extra is used for taxable accounts and stuff that needs cash flowing. We also get an income tax refund and quarterly bonus that equals 7000 +/- for the year. We usually invest some and splurge on the rest

User avatar
jabberwockOG
Posts: 1813
Joined: Thu May 28, 2015 7:23 am

Re: Anyone want to share their monthly budget? Here's ours

Post by jabberwockOG » Thu Nov 07, 2019 7:21 pm

Age 64 retired at 60.5 yo

Monthly Income - $0 Living from accumulated savings for a few years. Planing on taking SS at FRA, or maybe a year or two later depending on how savings/CDs balance is doing. No planned withdrawals from 401k or Roths until after age 68.

Monthly Expenses for wife and I

Mortgage: $0 ($420k house paid off)
Property tax: $129
HOA : $38
auto insurance: $80
umbrella insurance: $25
home owner insurance: $210
water and sewage: $80
gas and electricity: $110
Dental : $75
Medical $100 (ACA subsidized)
internet: $52
cell phone: $48
gas: $150
Amazon prime netflix: $23
2 super reliable cars in great shape - 14 and 13 years old - Paid off
Car Maint and repair – $100
Home Maint and repair - $200
Clothes and personal consumables – 150
Uncovered Medical and Dental - $200

Fixed cost total $1970

Food - $700
Eating out - $300
Entertainment/travel – 500
Beer, Wine, etc - 200
Rec center memberships - $35
Gifts/charity – 200
Misc purchases - $100

Discretionary cost - $2035


Total Monthly - $4005

I think the key to relatively low monthly expenses is paid off house and living in a LCOL area.

User avatar
jabberwockOG
Posts: 1813
Joined: Thu May 28, 2015 7:23 am

Re: Anyone want to share their monthly budget? Here's ours

Post by jabberwockOG » Thu Nov 07, 2019 7:25 pm

Age 64 retired at 60.5 yo

Monthly Income - $0 Living from accumulated savings for a few years. Planning on taking SS at FRA, or maybe a year or two later depending on how savings/CDs balance is doing. No planned withdrawals from 401k or Roths until after age 68.

Monthly Expenses for wife and I

Mortgage: $0 ($420k house paid off)
Property tax: $129
HOA : $38
auto insurance: $80
umbrella insurance: $25
home owner insurance: $210
water and sewage: $80
gas and electricity: $110
Dental : $75
Medical $100 (ACA subsidized)
internet: $52
cell phone: $48
gas: $150
Amazon prime netflix: $23
2 super reliable cars in great shape - 14 and 13 years old - Paid off
Car Maint and repair – $100
Home Maint and repair - $300
Clothes and personal consumables – 150
Uncovered Medical and Dental - $200

Fixed cost total $2070

Food - $700
Eating out - $300
Entertainment/travel – 500
Beer, Wine, etc - 200
Rec center memberships - $35
Gifts/charity – 200
Misc purchases - $100

Discretionary cost - $2035


Total Monthly - $4105

We actually spend about 4800 a month, most of the extra goes to pleasure - hobbies/sports equip/technology/specialty product purchases. I think the key to relatively low monthly expenses is paid off house, no debt, no car payments, and living in a LCOL area.

557880yvi
Posts: 90
Joined: Wed Mar 06, 2019 3:11 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by 557880yvi » Thu Nov 07, 2019 7:32 pm

jabberwockOG wrote:
Thu Nov 07, 2019 7:25 pm

We actually spend about 4800 a month, most of the extra goes to pleasure - hobbies/sports equip/technology/specialty product purchases. I think the key to relatively low monthly expenses is paid off house, no debt, no car payments, and living in a LCOL area.
In a similar situation, but live in a very high cost area (but not the highest by any means). Our property taxes per month are 10x yours! over $1,100/month for an average home in an average town. I could drink a lot more wine than my budget allows now if we only paid a little over $100/mo for property taxes (and with the $10k cap now have been killed with taxes)

Should have moved to where you live! :oops:

cheesepep
Posts: 866
Joined: Wed Feb 17, 2010 10:58 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by cheesepep » Thu Nov 07, 2019 7:43 pm

I don't budget. I just keep costs low. Splurge a few times but absolutely no budget. In fact, I throw out almost all receipts as soon I as get them.

mnsportsgeek
Posts: 155
Joined: Mon Jan 19, 2015 1:39 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by mnsportsgeek » Thu Nov 07, 2019 8:06 pm

Cool seeing the different budgets!

Here is my quick and dirty summary for a pair of 28 year olds both working with a kid coming soon.

Giving/Charity: $480
Bills: $2350
Rent, Utilities, Gym, Internet, Cable, Cell, Apple Subscriptions, Netflix

Everyday Spending: $2650
Gas, Food, Daycare (50% of this category), Allowances, Baby Expenses, Clothes, Gifts, Haircuts, Makeup, Around the House, etc.

Rainy Day Funds: $800
Insurance, Christmas, Car Maintenance, Random Annual Subscriptions

Savings: $2225
Emergency Fund, Roth IRA, College Savings, Car Replacement, Travel, Electronics, Durable Goods/Furniture

Retirement Savings: ~20% of Gross Income

Medical, Dental, Vision, HSA, 401k comes out of the paycheck pretax. I don't put it in the budget.

I'm super jealous of those of you with paid off mortgages. That provides so much flexibility.

User avatar
jabberwockOG
Posts: 1813
Joined: Thu May 28, 2015 7:23 am

Re: Anyone want to share their monthly budget? Here's ours

Post by jabberwockOG » Thu Nov 07, 2019 8:09 pm

557880yvi wrote:
Thu Nov 07, 2019 7:32 pm
jabberwockOG wrote:
Thu Nov 07, 2019 7:25 pm

We actually spend about 4800 a month, most of the extra goes to pleasure - hobbies/sports equip/technology/specialty product purchases. I think the key to relatively low monthly expenses is paid off house, no debt, no car payments, and living in a LCOL area.
In a similar situation, but live in a very high cost area (but not the highest by any means). Our property taxes per month are 10x yours! over $1,100/month for an average home in an average town. I could drink a lot more wine than my budget allows now if we only paid a little over $100/mo for property taxes (and with the $10k cap now have been killed with taxes)

Should have moved to where you live! :oops:
In my previous state my property tax was $1000/month, and climbing each year. In retirement we downsized and moved from a high property tax state to a low property tax area. Additionally when I turn 65 our property tax where we currently live will go down about 30% - so down to apprx $90-100 per month. Property taxes, because they are endless, and often increase over time, can gradually overwhelm long term retirement budgets.

Rainmaker41
Posts: 499
Joined: Tue Apr 26, 2016 11:34 am

Re: Anyone want to share their monthly budget? Here's ours

Post by Rainmaker41 » Thu Nov 07, 2019 8:12 pm

We are 2 married adults in a high cost of living area with no kids.

All figures are derived from 2020 calendar year annual projections divided by 12 and then rounded to nearest whole number. This means that our rent and Internet service is actually lower now than the amount shown, but we project it to be higher partway through the year; these figures are 2020 annualized averages.

Points to note:

- our employers pay the full cost of our health insurance plans (premiums not counted here in any way)
- we have neither a mortgage nor a car
- our low tax amount (net of credits) is due to a chunk of the income shown being in the form of employer retirement contributions
- we rent a cheap apartment
- I walk to work 2/3 of the year and take transit for 1/3 and my wife takes public transit the whole year
- no electronics (phone, laptop, wifi router) are due to be replaced this coming year

Income

Gross income including employer retirement contributions: 8,477
Taxes: (780)

Total Disposable Personal Income: $7,697

Expenses

Rent: 1,364
Renter's Insurance: 11
Electricity: 31
Phone Service: 80
Internet: 58
Amazon Prime: 11
Commute: 152
Vision Insurance: 8
Medical out of pocket: 17
Life Insurance: 43
Laundry: 30
Household (anything eaten or used up): 375
Haircuts: 23
Restaurants: 75
Miscellaneous (includes clothes, kitchenware, and other durable goods): 83
Entertainment: 19
Gifts: 25
Travel (includes activities with family or friends): 288

Total Spending: $2,693

Savings

403(b) plans: 3,250
Employer Matches: 710
IRAs: 1,000
Monthly cashflow surplus: 44

Total Savings: $5,004

Net Savings Rate (savings / DPI): 65%

mortal
Posts: 459
Joined: Mon Sep 15, 2008 11:15 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by mortal » Sun Nov 10, 2019 4:55 pm

Late 30s, single guy

Credit card: ~$415/mo This includes gas, groceries, internet, booze, etc
HOA: $212/mo for 1 bd/1/ba condo. Includes water, trash, gas fireplace used for heating
Home insurance / Property taxes: $75/mo
Power: ~ $60/mo
Car insurance: $55 /mo for liability
Maintenance / Other unexpected expense: $100 /mo

Total: $917 /mo, ~ 11k / year. If one included medical spending (i.e. the cost of health insurance and total oop), and total costs for buying a car every 10 years in retirement, it'd take you to ~ 18k.

Current income: ~ $10800 / mo

Currently financially independent @ 3% SWR. Retiring mid 40s.

CoastalWinds
Posts: 521
Joined: Sat Apr 06, 2019 8:28 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by CoastalWinds » Sun Nov 10, 2019 7:31 pm

pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
Nice job. Can you elaborate on how you manage to keep your monthly food bill (groceries and eating out) to just $49/mo?

randybobandy
Posts: 49
Joined: Fri Oct 05, 2018 10:51 am

Re: Anyone want to share their monthly budget? Here's ours

Post by randybobandy » Sun Nov 10, 2019 10:40 pm

mortal wrote:
Sun Nov 10, 2019 4:55 pm
Late 30s, single guy

Credit card: ~$415/mo This includes gas, groceries, internet, booze, etc
HOA: $212/mo for 1 bd/1/ba condo. Includes water, trash, gas fireplace used for heating
Home insurance / Property taxes: $75/mo
Power: ~ $60/mo
Car insurance: $55 /mo for liability
Maintenance / Other unexpected expense: $100 /mo

Total: $917 /mo, ~ 11k / year. If one included medical spending (i.e. the cost of health insurance and total oop), and total costs for buying a car every 10 years in retirement, it'd take you to ~ 18k.

Current income: ~ $10800 / mo

Currently financially independent @ 3% SWR. Retiring mid 40s.
One month's pay covering a year of expenses. Nicely done!

-Randy Bo Bandy

ximby
Posts: 2
Joined: Mon Nov 11, 2019 12:43 pm

Re: Anyone want to share their monthly budget? Here's ours

Post by ximby » Mon Nov 11, 2019 1:28 pm

Early 30s, single household, HCOL

- No car
- Student loan paid off

- Monthly take home: $6000 (not including bonus)
- Max out 401k, ~$500 on HSA and public transit card
- Rental income: $1100 after mortgage and expenses

- Primary residence: $2800 (mortgage, insurance, HOA, tax)
- Transportation: $30 uber (use pre-tax transit card on subway and uberpool)
- Grocery: $350 (organic; grocery delivery)
- Lunch: $100 (bring breakfast and lunch to work most of the time)
- Utility: $60
- Internet: $40
- Cellphone: $100 (Verizon, including new phone payment)
- Netflix/Spotify: $20
- Pet: $50

- Home misc: $100
- Personal care: $200
- Clothes: $200
- Dining out/wine: $200
- Charity: $50
- Gift: $50
- Travel: $500 (3+ international trips a year)

pepys
Posts: 37
Joined: Mon Nov 12, 2018 10:34 am

Re: Anyone want to share their monthly budget? Here's ours

Post by pepys » Mon Nov 11, 2019 7:36 pm

CoastalWinds wrote:
Sun Nov 10, 2019 7:31 pm
pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
Nice job. Can you elaborate on how you manage to keep your monthly food bill (groceries and eating out) to just $49/mo?
Sure. So, basically, the vast majority of my calories come from a few staple foods (oats, peanut butter, pinto beans, rice, and ground flax seed) that cover most nutrient needs (with some notable exceptions). So if I went to the Kroger right near me right now, with no sales:

42 oz oats = 4,500 cal = $2.49 = 1,800 cal/$
1 lb peanut butter = 2,520 cal = $1.50 = 1,680 cal/$
2 lb pinto beans = 2,340 cal = $1.69 = 1,380 cal/$
2 lb rice = 3,200 cal = $1.49 = 2,150 cal/$
1 lb ground flax = 2,460 cal = $2.69 = 910 cal/$

Which together roughly works out to $1.23 a day for a 2,000 calorie diet.

But I've been able to get all of those except the rice at significantly cheaper prices. I don't ever buy peanut butter at more than $1/lb, for example, which would change that estimate to 2,520 cal/$ at most. All in all, I can spend well under a dollar per day on the staples, giving ~$25 per month for things like bananas, frozen vegetables, and canned tomatoes (and a couple of vitamins, most importantly B12). Eating out is a real killer obviously, but I've very rarely done that over the past year.

MathIsMyWayr
Posts: 1009
Joined: Mon Mar 27, 2017 10:47 pm
Location: CA

Re: Anyone want to share their monthly budget? Here's ours

Post by MathIsMyWayr » Mon Nov 11, 2019 8:19 pm

pepys wrote:
Mon Nov 11, 2019 7:36 pm
CoastalWinds wrote:
Sun Nov 10, 2019 7:31 pm
pepys wrote:
Sat Oct 12, 2019 11:50 pm
Rent (includes water, trash, etc.): $846
Electricity: $54
Rent insurance: $11
Phone: $24
Internet: $20
Groceries/Dining: $49
Bus/Uber/Lyft: $8
Misc: $18

Medical/Dental (with employer): $64

No car.

Monthly expenses: $1,094

Income is $73k.
Nice job. Can you elaborate on how you manage to keep your monthly food bill (groceries and eating out) to just $49/mo?
Sure. So, basically, the vast majority of my calories come from a few staple foods (oats, peanut butter, pinto beans, rice, and ground flax seed) that cover most nutrient needs (with some notable exceptions). So if I went to the Kroger right near me right now, with no sales:

42 oz oats = 4,500 cal = $2.49 = 1,800 cal/$
1 lb peanut butter = 2,520 cal = $1.50 = 1,680 cal/$
2 lb pinto beans = 2,340 cal = $1.69 = 1,380 cal/$
2 lb rice = 3,200 cal = $1.49 = 2,150 cal/$
1 lb ground flax = 2,460 cal = $2.69 = 910 cal/$

Which together roughly works out to $1.23 a day for a 2,000 calorie diet.

But I've been able to get all of those except the rice at significantly cheaper prices. I don't ever buy peanut butter at more than $1/lb, for example, which would change that estimate to 2,520 cal/$ at most. All in all, I can spend well under a dollar per day on the staples, giving ~$25 per month for things like bananas, frozen vegetables, and canned tomatoes (and a couple of vitamins, most importantly B12). Eating out is a real killer obviously, but I've very rarely done that over the past year.
Your grocery bill is incredible. We (3 adults) spend more than $15 on fruits only per week. Just typical fruits such as bananas, apples, oranges/tangerines,,,. $3-4/week for eggs.

Mako52
Posts: 111
Joined: Mon Jul 30, 2018 11:07 am

Re: Anyone want to share their monthly budget? Here's ours

Post by Mako52 » Tue Nov 12, 2019 8:37 am

catlady wrote:
Sat Oct 12, 2019 12:23 pm
Mid/late 30s, DINK, MCOL. Numbers based on net income (after max pre-tax 401k, health ins, transit, payroll taxes, etc) and before bonus/RSU. Roth IRAs and I bonds fully funded at the beginning of the year with bonus money. Home maintenance and additional misc spending cash flowed from bonus/RSU vesting.

Code: Select all

mortgage 		2700 (3.5%, ?? years remaining, estimated payoff with prepay < 5 years)
hoa			300
car			1000 (0%, 11 months remaining)
cable/phone		400
utilities		250
misc spending		3000
-------------
total spending		7650
	
mortgage prepay		3000
after tax invest	8000
-------------
total outgoing 		18650
You're prepaying more than your actual monthly mortgage on a 3.5% mortgage, along with a $1,000 car payment? I'm guessing your house is $750k+?

1130Super
Posts: 22
Joined: Thu Nov 07, 2019 8:59 am
Location: Minnesota

Re: Anyone want to share their monthly budget? Here's ours

Post by 1130Super » Tue Nov 12, 2019 9:12 am

Just me
Income $5800
Taxes $870
Roth IRA $500
401k $580
Taxable account $580
Mortgage $1386
Electric $10
NAT Gas $50
Water bill $45
Trash service $30
Truck insurance $110
Fuel $240
Food (including out) $490
Cell phone $55
Beer $80
Misc $200-$300
CC the rest

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