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Re: $90 per day aint hay
Old 07-08-2004, 08:35 AM   #21
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Re: $90 per day aint hay

Hmmm, apparently I spend $97.48 per day including income taxes. I took a shortcut method of taking my gross salary from the last 12 months, backed out what I saved and spent on debt reduction and divided by 365. If I back out my car payments it's $90.90 per day.

I'm single, work, rent an apartment and have an older car.

If I back out my rent and car payment I'm at $71.01 per day, but if I had a house we'd have to add property taxes and higher utilities.

I think I could drop $20 per day by changing my dining habits alone (I eat out almost always), and I stay pretty well entertained.

An interesting exercise even though I took the shortcuts.

EDIT: My entertainment spending has risen the past two months and will stay higher for a while before maybe settling to a compromise level next year. I guess my next big financial plan should be to permanently change my dining habits.
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Re: $90 per day aint hay
Old 07-08-2004, 08:49 AM   #22
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Re: $90 per day aint hay

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EDIT: My entertainment spending has risen the past two months and will stay higher for a while before maybe settling to a compromise level next year. I guess my next big financial plan should be to permanently change my dining habits.
Or not. What's the point of being young and single if you don't act young and single?

I hate to have to worry about finances, thus more savings would always be good. But life is a process of converting possible into done. And some of it is too much fun to miss.

IMO of course!

Mikey
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Re: $90 per day aint hay
Old 07-08-2004, 09:08 AM   #23
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Re: $90 per day aint hay

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Or not. What's the point of being young and single if you don't act young and single?
True. I've been saying I should stop eating out so much for at least 5 years. Every now and then I'll cook at home for a week or two but then it's back to the old habits. I guess we'll leave it as a contingency option then.

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I hate to have to worry about finances, thus more savings would always be good. But life is a process of converting possible into done. And some of it is too much fun to miss.
Ture again. I hate "to do" lists, but I love writing down what I've accomplished. ("Have Done" lists?) I figure I've made it this far, so I must be doing something right.
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Re: $90 per day aint hay
Old 07-08-2004, 09:20 AM   #24
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Re: $90 per day aint hay

I found this thread and what an interesting exercise!

I found my total spending a day (includes all taxes, mortgage, all insurance, building fee etc but excluding savings) is $65. Without mortgage, it drops to $45. I guess it helps that I eat vegetarian meals every few days or so, and that I cook most of my meals (and that I somehow managed to convince my friends to come over for a potluck dinner instead of going out for meals).

That is for single with mortgage and rarely driven old car (since I commute to work with train). Maybe I live in a pretty low cost area since I don't feel that I am being overly frugal.

Hum...but I suppose I should get out more...I haven't been spending too much on entertainment lately...

Jane
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Re: $90 per day aint hay
Old 07-08-2004, 09:24 AM   #25
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Re: $90 per day aint hay

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True. I've been saying I should stop eating out so much for at least 5 years. Every now and then I'll cook at home for a week or two but then it's back to the old habits. I guess we'll leave it as a contingency option then.
Eating out and entertainment are my biggest discretionary expenses, too. I "justify" on the eating out by taking home leftovers - the portions some places serve can be three good meals for me. And entertainment - well, that's what I want to retire to have more time for - Even as bad as the Mariners are, I still like to go to the ballpark a few times a year.

The living cost per day is an interesting excercise. All my money flows through the checking account so I just keep a spreadsheet tracking what went in and out, rough caclulation, but interesting we all seem to be in the $90-something range.
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Re: $90 per day aint hay
Old 07-08-2004, 09:27 AM   #26
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Re: $90 per day aint hay

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I found this thread and what an interesting exercise!

I found my total spending a day (includes all taxes, mortgage, all insurance, building fee etc but excluding savings) is $65. Without mortgage, it drops to $45.
Jane
Oops - I didn't see Jane's post when I said all were $90 something. Now I need to go home and look at my spreadsheets again to see where all this money is going!!!



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Re: $90 per day aint hay
Old 07-08-2004, 09:38 AM   #27
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Re: $90 per day aint hay

Ummmmm. Uh-oh.

I did this exercise last night and I'm at $263.something per day, calculated as running an expense report in Quicken for the past six months and multiplying by 2/365. I believe that my top two expense categories, Taxes and Interest Expense, are at least $90 per day.

I should add I'm still working and have three young kids.

I then thought I'd see how much of a nest egg each of my major budget categories would need and what my nest egg would need to be for my top N expenses.

It was pretty depressing that way because my current nest egg won't even cover my Tax bills. Of course I do expect taxes to go down in retirement, but still...

So I did it the other way and figured out what my nest egg would need to be for my *bottom* N expenses, and I'm pleased to say that I can cover my bottom 15 out of 31 expense categories. Woo hoo.

As for pets, we have seven -- 1 dog, 3 cats, and 3 rats. I think "Pets" is one of the uncovered top 16 expense categories.

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Re: $90 per day aint hay
Old 07-08-2004, 10:12 AM   #28
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Re: $90 per day aint hay

Uh..oh...now you guys got me thinking of "vacation" and "gifts" spending categories which I didn't include in the calculation since those two comes under savings...

Do you include them in your calculation?

Jane
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Re: $90 per day aint hay
Old 07-08-2004, 10:36 AM   #29
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Re: $90 per day aint hay

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Uh..oh...now you guys got me thinking of "vacation" and "gifts" spending categories which I didn't include in the calculation since those two comes under savings...

Do you include them in your calculation?Jane
Well, I think we have a range now. From Jane's $45 to Malakito's $263.

But Jane, I am a bit baffled by your inclusion of gifts and vacations under savings. If trips are a form of saving, I'm off to China tomorrow!

Mikey
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Re: $90 per day aint hay
Old 07-08-2004, 10:49 AM   #30
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Re: $90 per day aint hay

Oh sorry to confuse you Mikey.

The way I manage my money is this:

My paycheck is automatically deposited into various accounts from my registered retirement account, checking account (which I use to pay bills, mortgage, daily expenses etc) and 2 savings account: 1 for emergency cash, and 1 for gifts, vacation and mortgage lump-sump. So that's why gifts and vacation comes under "savings" since I have to SAVE the money first in the saving account before I can use it. Pretty cool eh? 8)

I found that this is the easiest way to manage money for me - not too much work since all of this account activities are automated.

Jane
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Re: $90 per day aint hay
Old 07-08-2004, 10:56 AM   #31
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Re: $90 per day aint hay

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Many dog people (especially breeders) don't like to use food as a reward. They believe the dog should want to please you and that's enough of a reward.
. . .
Yeah, I know. I'm familiar with the debate and the arguments. It really depends on the dog. If you want to train a dog you need to find something you can use and condition them to recognize as a reward and something you can use to condition them to recognize as punishment. I don't use food to obedience train them.

What I was referring to is use of food as a reward for a short period of time (about a week) to condition them to accept a new kind of food. Once the process is over, go back to your routine.

But I've seen some dog trainers and breeders who use food as a reward and get impressive results. It can work for you if you don't mind walking around with dog food in your pocket all day long. Then you also need to account for the reward food in the dog's daily diet. Too much trouble for me.
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Re: $90 per day aint hay
Old 07-08-2004, 10:57 AM   #32
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Re: $90 per day aint hay

Interesting discussion. Mrs. MileKing and I (no kids, no pets) are at $250 per day, about $86 of which is mortgage. Throw in a few dollars for electricity and gas, and I think we could live in the local Hampton Inn for that.....we'd have free breakfast, free cable, and maid service to boot. Plus we'd earn Hilton Honors points on each stay, gaining about 1 free day every two weeks (based on $90 room rate and Diamond HHonors status).

Something to think about, although I'm sure Mrs. MileKing would nix the idea.
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Re: $90 per day aint hay
Old 07-08-2004, 11:15 AM   #33
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Re: $90 per day aint hay

In our first year in retirement, Mrs. guru and I spent at a rate of $175/day. That includes $27 per day for mortgage and about $16 per day income tax. Total without those costs is $132/day.
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Re: $90 per day aint hay
Old 07-08-2004, 11:44 AM   #34
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Re: $90 per day aint hay

Hmmm, this is an interesting thread. I'm at about $73 per day not including any irregular large expenses. If I remove my mortgage, I'm at about $59 per day (yeah, not much of a mortgage payment eh ?). If I look at the kind of stuff that will likely decrease in retirement, $50/day is easy, I can actually go lower. I have several retirement budgets worked out, from current spending habits down to subsistence living, which is at about $30 per day, how's that for low ! Of course, this would not be any fun at all..... I am currently working and spend quite a bit eating out and on gas for commuting, these are the largest of the ones I expect to go down in retirement, and are reflected in the $73 per day.

-pan
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Re: $90 per day aint hay
Old 07-08-2004, 11:45 AM   #35
 
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Re: $90 per day aint hay

$175 per day? Wow! I used to spend more than that when I was working, but now...............25K per year seems like plenty to me. It was really relatively
easy to crank down to this level. Temptation still
pops up (to spend like the old days) but it gets
easier to resist all the time.
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Re: $90 per day aint hay
Old 07-08-2004, 12:20 PM   #36
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Re: $90 per day aint hay

Although I am still a working single, I spend less than $50 a day. When I retire next year, it will go up to about $115 a day. I will have to pick up my health insurance and dental bills. I plan to spend about 17K to travel aboad and the USA for the next 10 + years just in time for SS (66) to have kicked in. I haven't taken a trip in years. I have a lot of catching up to do, Southeast Asia, India China, Africa, North America, the planets and if I have a bit more time, the stars.

MJ
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Re: $90 per day aint hay
Old 07-08-2004, 12:34 PM   #37
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Re: $90 per day aint hay

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$175 per day? *Wow! *I used to spend more than that when I was working, but now...............25K per year seems like plenty to me. *It was really relatively
easy to crank down to this level. *Temptation still
pops up (to spend like the old days) but it gets
easier to resist all the time.
Actually, our spending in our first year of retirement is up from when we both worked. We also had a number of infrequent purchase items this past year -- replaced dishwasher, replaced air conditioner, replaced one computer, replaced SUV. We had a bad mechanical year. The SUV we could have waited on (and probably would have waited if we had known that everything else was going to fail), but the other items wore out or went brain dead in the same year.
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Re: note to TH pet care
Old 07-08-2004, 12:46 PM   #38
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Re: note to TH pet care

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<delurking>

TH...you sound very knowledgeable about pets and their care. I hope you'll share your thoughts with me on a couple of questions I have.

I have an indoor/outdoor cat. I've been feeding her (over the years) mostly dry food (e.g., Wysong, Eukanuba, Felidae, Chicken Soup for the Pet Lovers Soul <or something akin to that>, and Innova). I was under the impression that these are top-of-the line quality-wise. I just read your earlier statement about premium foods. I cannot discern whether you meant that Eukanuba is good or bad. Can you please clarify?

Also, I've been treating her with Heartgard (anti-heartworm) and Program (flea control). I've shied away from using the topical treatments. Because, after reading the warnings on the packages, I was worried about applying the medicine to the cat; I also had concerns as to its effects if it rubbed off on me.

You mentioned that you prefer to use Revolution over Heartgard. Would you please tell me why?

<link to RE> As I am looking to RE in about a year and a half, keeping my cat healthy and happy will reduce my expenses long-term.

Thanks,

omni
Hey my pets became a far larger part of my life in ER. Not to far a leap to make a connection.

The foods you mentioned are good, excepting eukanuba. Bear in mind I dont read every single package of every single formulation of every single company every single day, and these things change. Last time I looked at eukanuba it had corn and by-products in it, and overall the ingredients were inferior to the other brands you mentioned without an inferior price.

Wysong is one of the better foods, although perhaps a little spendy compared to felidae which is a darn good food at a reasonable price. Wysong is also very hard to find. Chicken soup for the pet lovers soul is a pretty good food, but whoever named it should be drawn, quartered and shot by the marketing committee for not naming things so a man wouldnt want to buy them without including a package of chartreusse underwear in the deal.

Heartguard and frontline are good products, and i've given it to my animals. I like revolution because it also treats fleas, ticks, intestinal worms and so forth. Two hours after application the area can be washed. Transmission to people doesnt appear to be a problem. Applying even 4-5x the dosage to the animal produces few side effects in a very small percentage of animals, yet even less than half a dosage is considered effective. After reading the research study (which I did some months ago, there may be newer stuff), it appeared safe and an effective broad spectrum parasite treatment for about the same price as the heartworm treatment alone. I'm paying about $8-9 per pet per month.

As far as analysis and study, I became aware some time ago that we share an awful lot in common with our pets systemically. You can give your dog many human medications and they react similarly to many foods and drugs. Of course you should check with your vet before doing so. With that in mind, I simply educated myself on the fine art of concocting pet foods and what the ingredients mean, and bought a food composed of good stuff, absent of bad stuff, that contained what I thought would be good for ME to eat.

For one reason and one reason only: I want them to live the longest and healthiest lives they can. Good nutrition and care can make a difference. That my pets have averaged lifespans as much as 50% longer than typical says something I'm doing is working.
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Re: $90 per day aint hay
Old 07-08-2004, 01:19 PM   #39
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Re: $90 per day aint hay

If I cheat a little, I can get our number down to $450 a day (wife and two kids). Looks like I should be spending more time on the cost-cutting parts of this site! Maybe this is why I'm still 'semi-working bob'... Still, I am the biggest skinflint in the neighborhood, keep our cars 10 years, buy cheapo airline seats etc. Maybe NY area is just expensive...

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Re: $90 per day aint hay
Old 07-08-2004, 01:41 PM   #40
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Re: $90 per day aint hay

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If I cheat a little, I can get our number down to $450 a day (wife and two kids).
Well, you have certainly established that you are one hell of an earner! Congrats

Mikey
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