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Old 12-31-2010, 04:18 PM   #21
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Under budget in every category except gifts.

This is our first year to practice living on expected retirement income and while I hoped we could spend XX amount on gifts, as usual we got carried away buying for the grandkids...but we always pay retirement funding first so no harm, no foul.
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Old 12-31-2010, 04:29 PM   #22
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I came out under budget for the year (don't have my spreadsheet here so I can't give an exact number yet), but the amazing thing to me is that $1K of my savings was in December!

I just noticed that this morning that I spent $1K less in December than I had expected to spend. I am still mystified as to how that came to be, but my bank balance is what it is.

I'll have to sit down and analyze what on earth happened between November 30th and December 31st, to lower my spending so much.
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Old 12-31-2010, 04:41 PM   #23
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Rough guesstimate is about 14% under budget since DH retired June 1. We had a major purchase of new replacement windows which came out of savings that is not included in that. The cash had been in savings a long time.

A couple of times we went over on groceries or gifts but rarely on anything else.

Feels great to know we can still save.

One factor in this is that we stopped any withholding when DH retired. He was over withheld while still employed and between that and the $1500 credit for the windows, I knew we would still get a refund.

I expected to start withholding again in Jan. 2011, but my pre-planning for 2011 includes using the Retirement Saver's Credit for the first time. Our income has dropped so much that we can finally use that and it will have a nice impact on our 2011 tax liability.
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Old 12-31-2010, 04:42 PM   #24
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I'll have to sit down and analyze what on earth happened between November 30th and December 31st, to lower my spending so much.
I'll bet those cold New Orleans winter nights must simply fly by in the W2R household

Good luck with your accounting and all the very best for 2011
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Old 12-31-2010, 04:45 PM   #25
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I don't recall W2R making recent posts about eating out. Could it be that simple?
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Old 12-31-2010, 04:58 PM   #26
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I don't recall W2R making recent posts about eating out. Could it be that simple?
I have still been eating out at least once daily*, although maybe at less expensive places. One lunch was on a Christmas gift card. I am mystified so this will be fun to figure out.


* (Today - - tomato basil chicken on angelhair pasta at Copeland's, with diet coke; $13 covered lunch and tip so that is one of my more expensive lunches)
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Old 12-31-2010, 05:05 PM   #27
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I'll bet those cold New Orleans winter nights must simply fly by in the W2R household
They sure do! I have been enjoying my Wii and staying away from the mall to avoid the Christmas shoppers.

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Good luck with your accounting and all the very best for 2011
Thank you, and the same to you!
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Old 12-31-2010, 05:16 PM   #28
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A little more than 1% under budget.
Very happy about that. The budget is subject to change from year to year based on whether we need to replace a car or something like that, but this was a "normal" year.
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Old 12-31-2010, 05:22 PM   #29
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not so good. in fact just today we reviewed the annual recap, which seems to magnify all of those "small" issues we had during numerous months. I just ran the '11 budget and shared it with DW, the only thing we can do is reduce our planned (and actual, of course) spending in '11 to compensate for over-spending in '10. needless to say it wasn't a very pleasant conversation.
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Old 12-31-2010, 05:23 PM   #30
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Not that I am a little *nal about finances but we came in $315.88 per month under the budget. $59.58 per month of that was lower than budgeted repair expenses. Not bad since we bought 10 new tires this year. Health care was $5800 below budget as I plan to fully meet the deductible each year and we were fortunate enough again to not get near the deductible. The health care budget is a separate amount as it has a much much high inflation rate also.
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Old 12-31-2010, 05:39 PM   #31
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...I am mystified so this will be fun to figure out...
I used to use MS Money just to track investments. After I switched to Quicken, started to use more of the software functions to look at spending also.

I have yet no reasons to change any of our spending habits based on this new knowledge (hey, isn't LBYM about never having to say that you are sorry to have spent on something), but it is nice to, with just one click, find out how much we spend on groceries, on gasoline, etc...

I remember that you pay cash and do not use credit cards, so the software would not work for you. But for me, it works well so far even though T-Al cursed at it.
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Old 12-31-2010, 05:43 PM   #32
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We were way over budget in the first half of the year but we have been on budget in the second half. I retired at the end of July and we have been living on our somewhat reduced retirement budget ever since.
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Old 12-31-2010, 05:53 PM   #33
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Spent way over budget. 71K + 17K for a car. I did work PT selling boats till Sept and that brought in 80K so all in all not to bad. DW is talking new kitchen, I hope the market treats us good again next year.
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Old 12-31-2010, 05:56 PM   #34
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Spent less than half of my pension so added to investments - guess I need to change my spending habits since I can't take it with me. I made an effort to spend more with several weeks of travel (western U.S. and FL) so plan to travel even more next year and maybe buy a new boat.
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Old 12-31-2010, 06:04 PM   #35
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I do not budget, but I do loosely track my expenses. They were about the same as last year.
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Old 12-31-2010, 06:16 PM   #36
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Budget $75,000
Expected to spend $50,000
Spent $60,000

My budget has several categories I really do not expect to spend annually. However, my spreadsheet forecast 25 years, and I know there will be a year when I will spend some of those amounts. So, the numbers are really just about what I expected.
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Old 12-31-2010, 06:50 PM   #37
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I used to use MS Money just to track investments. After I switched to Quicken, started to use more of the software functions to look at spending also.

I have yet no reasons to change any of our spending habits based on this new knowledge (hey, isn't LBYM about never having to say that you are sorry to have spent on something), but it is nice to, with just one click, find out how much we spend on groceries, on gasoline, etc...

I remember that you pay cash and do not use credit cards, so the software would not work for you. But for me, it works well so far even though T-Al cursed at it.
You are right; I am so old-fashioned! I prefer to do my tracking myself. I have thought about buying Quicken but it just "isn't me", I guess. Happy New Year, by the way!
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Old 12-31-2010, 07:05 PM   #38
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We really blew our 2010 budget- over by 20%. Must do better in 2011. Major overages in health care, gifts, travel, and auto. How did you guys do?
Well, that's a lot to admit for a former big six Canadian banking exec!
I guess we know what your New Years' resolution is going to be!

I don't have a strict budget, but I have been extremely frugal this year and socked away a ton of money.
Except for the condo I bought, of course.
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Old 12-31-2010, 07:06 PM   #39
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I came in $13,000 under budget despite buying a car,traveling and doing some remodeling . I'll just roll that over into next year .
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Old 12-31-2010, 07:08 PM   #40
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We were supposed to spend $53,000 and we spent $36,000. I'll try harder next year.
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