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12-31-2017, 07:54 AM
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#81
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Thinks s/he gets paid by the post
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
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Quote:
Originally Posted by 523HRR
Taxes are always the largest single component of our annual expenses. Do you not consider taxes as part of your spending?
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I treat income taxes as an offset to income. Taxes are withheld on my pension so I simply record the net amount received. Instalments and year end tax payment on my investment income are recorded as a separate (negative)line in the income section, along with interest, dividends, and stock sales. Estimated taxes are a large moving piece of the budgeting process for me.
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12-31-2017, 08:01 AM
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#82
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by ivinsfan
Yes I did but Part B alone is around 144 a month this year..just wondering if it was a full 12...
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I'd say yes.
I just looked at my 2017 numbers which totaled $2,316:
Part B - $111 mo
Part D - $17 mo
Medigap Plan F HD - $65 mo
__________________
Numbers is hard
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12-31-2017, 08:05 AM
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#83
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,958
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Quote:
Originally Posted by REWahoo
I'd say yes.
I just looked at my 2017 numbers which totaled $2,316:
Part B - $111 mo
Part D - $17 mo
Medigap Plan F HD - $65 mo
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you must have been in the hold harmless group..this year B rate for my DH is 134 per month which adds around 276 to your total which would be 2692...I wonder how much the rates vary by state?
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12-31-2017, 08:08 AM
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#84
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,743
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Quote:
Originally Posted by ivinsfan
you must have been in the hold harmless group..this year B rate for my DH is 144 per month
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it's 134 per month
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12-31-2017, 08:15 AM
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#85
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,140
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Quote:
Originally Posted by 523HRR
Taxes are always the largest single component of our annual expenses. Do you not consider taxes as part of your spending?
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I only budget after income tax spending because that’s the only ones I can predict and usually control.
Income taxes are driven by our investments and wildly unpredictable from year to year. So I don’t put them in the annual budget.
__________________
Retired since summer 1999.
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12-31-2017, 08:24 AM
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#86
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,958
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Quote:
Originally Posted by Corporateburnout
it's 134 per month
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made a typo fixed it thanks for catching that
I'm actually more curious about differences in other states, but that's for another thread...I just asked Rodi a question about her budget..
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12-31-2017, 08:27 AM
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#87
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Thinks s/he gets paid by the post
Join Date: Jun 2014
Posts: 1,192
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2016: $74,201 ($10K went to moving into a home, breaking lease, etc)
2017: $69,532
two people
Auto: $20,400 ($14.5K for the purchase used Camry)
Food: $11,000
Home: $8,900 (Mortage/Property/Ins)
Home Maint: $2,000 (HOA+small fixes)
Health: $10,300 (premiums+care. One of us stuck on a COBRA plan so no subsidy)
Travel $3,500
Shopping: $3,300 (furniture, electronics, software, clothing, etc)
Tax:$2100
Legal: $1000 (annoying ex employer who went on a fishing expedition by threatening every ex-employee with legal action due to a bad review, demanding passwords to accounts they have no right to.)
Business Expenses: $850
Misc: $2000 (Entertainment, charities, gifts, hair cuts, etc)
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12-31-2017, 08:35 AM
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#88
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by ivinsfan
you must have been in the hold harmless group..this year B rate for my DH is 134 per month which adds around 276 to your total which would be 2692...I wonder how much the rates vary by state?
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Yes, I was in the hold harmless group. My rate for 2018 is $134, the same as your DH.
I don't think the B rates vary by state, but I could be wrong.
__________________
Numbers is hard
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12-31-2017, 08:43 AM
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#89
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,958
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Quote:
Originally Posted by REWahoo
Yes, I was in the hold harmless group. My rate for 2018 is $134, the same as your DH.
I don't think the B rates vary by state, but I could be wrong.
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No that's Federal I was wondering about the supplement. I'll go do a little research online and maybe start my own thread so I don't distract from this one.. It's minus 20 outside so I have plenty of time to sit at the computer..
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12-31-2017, 08:45 AM
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#90
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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__________________
Numbers is hard
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12-31-2017, 08:49 AM
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#91
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Thinks s/he gets paid by the post
Join Date: Mar 2013
Location: Southern California
Posts: 3,999
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Quote:
Originally Posted by UtahSkier
I do extensive planning and tracking with Quicken. Target budget is $130K. Last year we were $10K below budget and this year we were over budget by $4K... Medical expenses got us this year.
So, we are $6K under budget since retirement (2016 start).
My approach to budgeting includes a lot of long term expenses that happen only once over a 7-10 year timeframe. This year we purchased a new washer / dryer set. Also, we started a wine cellar, so this year's expenses include wine purchases for consumption over the next 7 years. The spending for the Groceries:Spirits is clearly over budget and will be for some time.
And yes, the motorhome thing is expensive. The vacation category is for the expenses where we are actually out using the RV.
This spending is for 2 adults and 2 dogs.
The listing below is a quicken report.
| | | | Auto | 2,921.77 | | Auto:Fuel | 1,539.84 | | Auto:Insurance | 813 | | Auto:Registration | 383.5 | | Auto:Service | 185.43 | | Bank Charge | 35 | | Beauty | 1,916.34 | | Cash | 1,758.00 | | Clothing | 2,580.94 | | Dining | 6,713.71 | | Entertainment | 1,317.05 | | Entertainment:General | 1,041.90 | | Entertainment:Hobby | 275.15 | | Fitness | 6,694.14 | | Fitness:Biking | 1,063.01 | | Fitness:General | 1,449.40 | | Fitness:Gym | 402.9 | | Fitness:Skiing | 3,778.83 | | Gifts Given | 1,306.99 | | Groceries | 20,106.26 | | Groceries:General | 13,373.75 | | Groceries:Spirits | 6,718.51 | | Home Expenses | 10,269.59 | | Home Expenses:Association Fees | 900 | | Home Expenses:Home Improvement | 5,720.77 | | Home Expenses:Misc | 3,015.28 | | Home Expenses:Repair | 633.54 | | Insurance | 4,722.11 | | Insurance:Health Insurance | 3,940.11 | | Insurance:Home Insurance | 338 | | Insurance:Umbrella | 444 | | Medical | 16,123.22 | | Motorhome | 27,990.82 | | Motorhome:Improvement | 6,469.31 | | Motorhome:Insurance | 616 | | Motorhome:License | 1,993.20 | | Motorhome:Service | 15,852.31 | | Motorhome:Storage | 3,060.00 | | Pets | 3,811.87 | | Pets:Grooming | 610.07 | | Pets:Supplies | 1,545.95 | | Pets:Vet | 1,655.85 | | Professional Services | 50 | | Software and Computers | 53.38 | | Tax | 5,330.91 | | Utilities | 6,529.99 | | Utilities:Cable TV | 701.83 | | Utilities:Garbage & Recycling | 180.48 | | Utilities:Gas & Electric | 2,288.09 | | Utilities:Internet | 392.65 | | Utilities:Telephone | 2,133.26 | | Utilities:Water | 540 | | Vacation | 13,686.18 | | Vacation:Activity | 1,399.18 | | Vacation:Campground Fee | 6,775.72 | | Vacation:Fuel | 4,051.20 | | Vacation:Internet | 110 | | Vacation:Lodging | 1,350.08 | | OVERALL TOTAL | 133,918.27 |
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I understand the spirits expense, but how do two people consume $34K of groceries?
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12-31-2017, 08:54 AM
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#92
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Thinks s/he gets paid by the post
Join Date: Nov 2015
Posts: 2,692
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Quote:
Originally Posted by Ready
I understand the spirits expense, but how do two people consume $34K of groceries?
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Look at the poster's list again, there's a sub-total for Groceries of $20K. But still seems like a lot for 2 people (based on my spend).
Groceries 20,106.26
Groceries:General 13,373.75
Groceries:Spirits 6,718.51
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12-31-2017, 08:55 AM
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#93
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Quote:
Originally Posted by Ready
I understand the spirits expense, but how do two people consume $34K of groceries?
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I wonder if “Groceries” is the sum of “Groceries:General” and “Groceries:Spirits”?
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12-31-2017, 08:56 AM
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#94
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Thinks s/he gets paid by the post
Join Date: Mar 2013
Location: Southern California
Posts: 3,999
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Quote:
Originally Posted by bobandsherry
Look at the poster's list again, there's a sub-total for Groceries of $20K.
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Groceries ($20,106.26) + Groceries: General ($13,373.75) = $33,480.01
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12-31-2017, 08:57 AM
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#95
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Thinks s/he gets paid by the post
Join Date: Mar 2013
Location: Southern California
Posts: 3,999
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Quote:
Originally Posted by Meadbh
I wonder if “Groceries” is the sum of “Groceries:General” and “Groceries:Spirits”?
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OK, yes that makes more sense now.
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12-31-2017, 08:57 AM
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#96
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,958
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Quote:
Originally Posted by Meadbh
I wonder if “Groceries” is the sum of “Groceries:General” and “Groceries:Spirits”?
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Yes the headers on that spreadsheet were confusing...
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12-31-2017, 08:58 AM
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#97
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Recycles dryer sheets
Join Date: May 2013
Location: Western US
Posts: 226
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I categorize my spending in MoneyDance. Here's what it says I spent in 2017.
Automobile $40954
Taxes $16674
Hobby $8705
Healthcare $6465
Groceries $5340
Travel $4942
Bills $4847
Dining Out $4491
Household $2790
Gifts $2170
Pet Care $2114
Charitable Donations $1350
Housing $1288
Fees $618
Clothing $482
Personal $411
Leisure $92
Miscellaneous $72
Safe Deposit Box $56
Total $103K. That's mostly for one person, but most of the dining and travel expenses are for two. The big spends this year were $37K for a new car (need + want), over $5K for new camera gear (want), and $1K unexpected furnace repair (need).
Categories are a little loose. Since I've been retired for 4 years most everything could be categorized as "Leisure" (that category is mostly books).
Compared to 2016: I spent $59K last year, which was a more typical year. Last year I had $5K in emergency home repairs (vs $1K this year), twice the hobby spending this year than last, more on gifts this year (nephew's wedding), more vet bills this year than last, and I didn't buy a new car with cash last year. Everything else is roughly the same, with slight bumps for inflation and perhaps a bit of lifestyle creep.
Compared to when I was working: I spend way less on taxes, way more on healthcare and hobby, way less on gasoline, more on groceries, less on dining out (I used to eat out for lunch every day, now it's maybe 2 days a week). Everything else is roughly the same.
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12-31-2017, 09:01 AM
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#98
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Quote:
Originally Posted by bobandsherry
Look at the poster's list again, there's a sub-total for Groceries of $20K. But still seems like a lot for 2 people (based on my spend).
Groceries 20,106.26
Groceries:General 13,373.75
Groceries:Spirits 6,718.51
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I think this applies to other categories too, eg Auto and Vacation. It would have been clearer if those category headings had been offset or bolded.
Yes, that does seem like a lot of groceries. Presumably it’s not just food, but household cleaning products, etc.
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12-31-2017, 09:01 AM
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#99
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,958
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Quote:
Originally Posted by cranberryjoe
I categorize my spending in MoneyDance. Here's what it says I spent in 2017.
Automobile $40954
Taxes $16674
Hobby $8705
Healthcare $6465
Groceries $5340
Travel $4942
Bills $4847
Dining Out $4491
Household $2790
Gifts $2170
Pet Care $2114
Charitable Donations $1350
Housing $1288
Fees $618
Clothing $482
Personal $411
Leisure $92
Miscellaneous $72
Safe Deposit Box $56
Total $103K. That's mostly for one person, but most of the dining and travel expenses are for two. The big spends this year were $37K for a new car (need + want), over $5K for new camera gear (want), and $1K unexpected furnace repair (need).
Categories are a little loose. Since I've been retired for 4 years most everything could be categorized as "Leisure" (that category is mostly books).
Compared to 2016: I spent $59K last year, which was a more typical year. Last year I had $5K in emergency home repairs (vs $1K this year), twice the hobby spending this year than last, more on gifts this year (nephew's wedding), more vet bills this year than last, and I didn't buy a new car with cash last year. Everything else is roughly the same, with slight bumps for inflation and perhaps a bit of lifestyle creep.
Compared to when I was working: I spend way less on taxes, way more on healthcare and hobby, way less on gasoline, more on groceries, less on dining out (I used to eat out for lunch every day, now it's maybe 2 days a week). Everything else is roughly the same.
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Just a tiny quibble, even if you pay cash for the car, I'd probably break it out of my budget or put a reasonable deprecation number each year I used it. The car is obviously not worth zero so you really didn't spend the entire purchase price.
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12-31-2017, 09:17 AM
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#100
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by Ready
I understand the spirits expense, but how do two people consume $34K of groceries?
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Foie gras, beluga caviar, white truffle, Jamón ibérico, Kobe beef, Bresse chicken?
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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