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Old 02-04-2014, 04:53 PM   #41
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Originally Posted by iibgdi View Post
I am currently working on a budget and have discovered that my basic expenses are kinda crazy.

These are annual #'s.

Cell phones: $3,060 (3 smartphones, one dumb phone)
Satellite: $1,344
Internet/phone: $924 (We are kind of stuck with our internet provider and the phone is included)
Electric: $2,099
LP: $1,400
Garbage: $264
Rural Water: $676

Total: $9,768 ***Edited as I found a mistake in my spreadsheet

That's not including home or auto insurance, life insurance, taxes, mortgage, cabin payment, food, entertainment, health insurance (through wifes work) etc.

The kids are Sophomore and Freshman in college so hopefully, the electric and LP go down! The water will go down slightly.

I'm sure one of the first question will be location....We live in the upper mid west. In a small subdivision outside of a small town. Our house is only 10 years old but it is fairly large so that does help explain how high the electric and LP is. (just over 5,000 sq ft counting main floor and basement.)

What part do you consider to be crazy?

Ha
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Old 02-04-2014, 05:23 PM   #42
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Single. 1800 sq ft home.

Cell phones: $107 Tracfone
TV: $432 basic cable + Netflix
Internet/phone: $900
Electric: $840
Oil: $1,540
Garbage: $50 for dump sticker
Water = well: $0


Total: $3869
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Old 02-04-2014, 05:27 PM   #43
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OP's expenses aren't much different than ours (cold here in MN - we live in smaller but much older house on water heat).

Cell phones - $2,500 (4 smartphones)
Satellite TV - $1,200
Internet - $480
Electric - $1,400
Natural Gas - $1,400
Garbage - $360
Water/Sewer - $800

Last 2 kids recently moved out which should help with electric & water but they are still on cell plan for now. I like sports too much to cut cord on TV as of yet although when you think about it my biggest interest is MN Gopher hockey (not available on OTA) and I might be able to buy season tix for the price I pay to watch them on TV.
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Old 02-04-2014, 05:45 PM   #44
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cell phones: 600 (2 smart phones - Ting plan, no contract)
land line: 60 (probably less - in process of switching to magic jack)
cable/internet/tivo: 1476 (I hate my cable company - but I'm a tv person...)
electric & natural gas: 1159 (bill is combined, didn't feel like breaking it out.)
water: 700 (includes sewer.)

Trash comes with being a city resident - part of the property taxes.
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Old 02-04-2014, 05:46 PM   #45
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We have one contract smart phone at $100/mo and one no-contract smart phone at $38/mo (these include taxes and fees). And cable tv and internet at another $100/mo. Which add up to a inexpensive car's monthly payment, just about. And are about 10% of our essential spending. And at 63 I am still amazed that we "need" these things that did not even exist a generation ago.
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Old 02-04-2014, 06:51 PM   #46
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Posters with water wells, what is a fair annual assignment for a pump replacement or other significant maintenance cost?
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Old 02-04-2014, 07:02 PM   #47
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Posters with water wells, what is a fair annual assignment for a pump replacement or other significant maintenance cost?
We have a shared well (us and 5 other houses), and we have each family throw $100 in per year. That covers electricity and builds up a fund for repairs.
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Old 02-04-2014, 07:16 PM   #48
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Cell, internet, streaming service, cable/dish, land line all add up to a fortune if you are not careful. Insurances, cost relating to owning a house (more in CA), taxes (ditto), entertainment (night out, golf, travel, ...), donations, ...., whew! When I RE, hopefully, I can make some serious change to all my expenses.
It's good to know that some people are still driving the profits of corporate America so that my portfolio will continue to support me
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Old 02-04-2014, 07:17 PM   #49
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Posters with water wells, what is a fair annual assignment for a pump replacement or other significant maintenance cost?
I ran those numbers and my costs came out to $1,000/yr. We drilled the well 15 years ago and have since spent $15,000 replacing the submersible pump twice and the pressure pump once. You may have better luck with submersible pumps (a lightning strike fried one of them) and be money ahead if that's the case.
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Old 02-04-2014, 07:19 PM   #50
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iibgdi,

Our annual, similarly Midwestern expenses for all you listed are $8,100 per year. I love/am addicted to my smart phone, DH needs his for his consulting business, we stay home and watch lots of TV and sports, so our cable bill is what it is, I need my reliable internet since I telecommute, our light bill is crazy, but at this point I'm not losing sleep over it.

I'm with you on this:
Quote:
ONE of the reasons I posted this was because I was reading the thread in the "young" forum that is now closed, from the young guy with a $1.6 million net worth trying to convince everyone that his TOTAL household expenses were $12,000/year.
I find this inconceivable, and frankly don't want to live that way. We lived off that much in the early 80's, and it was a pretty meager existence. To each his own.

Honestly, we did not notice our light bill going down all that much when our kids moved out. We also had that wishful thinking. Just really didn't happen.

Interesting thread!
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Old 02-04-2014, 07:52 PM   #51
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Originally Posted by Katsmeow View Post
Quote:
Originally Posted by Al in Ohio View Post
Those are crazy unmanaged expenses that most on this ER forum are not familiar with. You are badically playing what I aptly call poor defense. Or put another way "playing bend over defense". ...
I think you are taking a lot for granted. Everyone's situation is different. There are differences in family size and in cost of living in different areas. Just because someone is spending more than you are doesn't mean that person's expenses are "unmanaged" or are "crazy." Further, different people have different priorities. ...
+1 to Katsmeow. This sounded familiar to me, and a quick search brought up this recent post:

Modeling Help and Sanity Check ...

I would still like to hear Al in Ohio explain how one can live as nicely on less than $75K as they can on $150K. That would be enlightening.

Again, it's not that people can't be happy on $75K, but I just don't see how it can be 'just as nice' as a $150K budget. In a multiple choice question, who would choose $75K over $150K?

-ERD50
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Old 02-04-2014, 08:01 PM   #52
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Originally Posted by REWahoo View Post
I ran those numbers and my costs came out to $1,000/yr. We drilled the well 15 years ago and have since spent $15,000 replacing the submersible pump twice and the pressure pump once. You may have better luck with submersible pumps (a lightning strike fried one of them) and be money ahead if that's the case.
I hope I have better luck than that, hadn't considered lightning...
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Old 02-04-2014, 08:09 PM   #53
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Posters with water wells, what is a fair annual assignment for a pump replacement or other significant maintenance cost?
I don't have a water well now but did have one at our last house. I remember we had a repair that cost just over $2000. Also to get into the backyard with the needed equipment a section of fence had to be taken down and put back up (cost a few hundred dollars to have the fence company put the fence back up). I think we had one other repair that was a couple of hundred dollars. This was over about a 5 year period.
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Old 02-04-2014, 08:31 PM   #54
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I had a well years ago in Connecticut. Darn water had dissolved iron in it and it came out when pumped and aerated. I don't remember what I paid for the filtration system and the monthly filters, but it was significant. Plus, it never got it all and the inside of toilets turned orange.
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Old 02-04-2014, 08:38 PM   #55
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What part do you consider to be crazy?

Ha
Well, for starters, the cost of cell phone service is outrageous. Just 15 or so years ago, none of us had cell phone expenses. Certainly not $3,000/year worth.

Satelite and cable...I can remember when it was $15/month. Now it's nothing to spend $125-150/month.

So just those 2 alone are huge expenses that we didn't have in the past. YES, I realize the trade off and the great advances in technology that we have seen and are now able to take advantage up but $4-5,000 for a family to add to their budgets from what they were paying 15-20 years ago has made a big impact on families.

I will also add that LP gas just went to $5.00/GALLON this week. OUCH! And of course, as luck would have it, we are below 20% in our tank so will need a fill here pretty soon.

600 gallon tank......you do the math.....I think LP was just over a dollar previously? I don't recall.....
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Old 02-04-2014, 08:43 PM   #56
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I just added up all of my "fixed expenses" that I am billed for each month which now includes all the things I didn't show in my OP such as mortgage, taxes, insurance etc it does NOT include the following:

Food
Clothing
Medical expenses (not health ins)
Home maintenance
Auto maintenance
Lawn care (fertilizer etc)
Snow removal
Entertainment/travel/vacations

I am at $3,928/month and $47,137/year in expenses without those things listed above. Yikes.
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Old 02-04-2014, 09:06 PM   #57
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Originally Posted by iibgdi View Post
I am at $3,928/month and $47,137/year in expenses without those things listed above. Yikes.
What expense level would you'd like to achieve?

In your post you mentioned having a 5000 sqft house -- even with cheap housing in the midwest this is much more than most have. So I'm guessing your income is also commensurate and you can easily afford these costs?
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Old 02-04-2014, 09:51 PM   #58
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The numbers are from Quicken for the past 12 months.

Cable TV $935.54
Garbage $84
Electric $3,363.00 (All electric 3,000 sq. ft. house. Two HVAC systems)
Telephone $779.14 (landline with DSL)
Water $398.75 (rural water association)
Wireless $906.37 (three dumb cellphones)
HOA $0 (don't have one)

Total $6,466.80
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Old 02-05-2014, 12:30 AM   #59
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+1 to Katsmeow. This sounded familiar to me, and a quick search brought up this recent post:

Modeling Help and Sanity Check ...

I would still like to hear Al in Ohio explain how one can live as nicely on less than $75K as they can on $150K. That would be enlightening.

Again, it's not that people can't be happy on $75K, but I just don't see how it can be 'just as nice' as a $150K budget. In a multiple choice question, who would choose $75K over $150K?

-ERD50
I will take a stab at this.

Some of the difference would go to taxes - SS, state and federal, say that is $25K. A $75K household with kids and some AGI adjustments might get $15K in ACA tax credits. If the kids are in college, maybe there's another $10K in financial aid and tax credits at the lower household income.

That would bring the differential to $50K, with $25K needed to be made up by cutting annual expenses. If the $150K household has not been too thrifty, they might be able to cut $25K total by reducing each budget line item: price shopping insurance, renegotiating the cable bill, increasing insurance deductibles, getting prepaid cell phones, getting rid of the land line, shopping at Costco, swapping out a low cost hobby like kayaking or biking for a golf or a tennis club membership, etc.

I don't think most of those changes would impact their day to day quality of life. Maybe the hypothetical family would actually have more fun and excitement kayaking than playing golf.

I'd still take the $150K over $75K.
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Old 02-05-2014, 02:07 AM   #60
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Using the OP's cost items :

Cell phones: about $2000 (including iPad)
Satellite: 0
Internet/phone: about $300, the rest is included in monthly assessments.
Electric: $240, the rest is included in monthly assessments.
LP: $0
Garbage: $0
Rural Water: $0

Also live in upper Midwest.

Quote:
Originally Posted by iibgdi View Post
I am currently working on a budget and have discovered that my basic expenses are kinda crazy.

These are annual #'s.

Cell phones: $3,060 (3 smartphones, one dumb phone)
Satellite: $1,344
Internet/phone: $924 (We are kind of stuck with our internet provider and the phone is included)
Electric: $2,099
LP: $1,400
Garbage: $264
Rural Water: $676

Total: $9,768 ***Edited as I found a mistake in my spreadsheet

That's not including home or auto insurance, life insurance, taxes, mortgage, cabin payment, food, entertainment, health insurance (through wifes work) etc.

The kids are Sophomore and Freshman in college so hopefully, the electric and LP go down! The water will go down slightly.

I'm sure one of the first question will be location....We live in the upper mid west. In a small subdivision outside of a small town. Our house is only 10 years old but it is fairly large so that does help explain how high the electric and LP is. (just over 5,000 sq ft counting main floor and basement.)

what are other peoples expenses?
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