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Re: How much did you SPEND in 2005?
Old 01-09-2006, 04:36 PM   #61
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Re: How much did you SPEND in 2005?

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Originally Posted by SteveR
You are only seeing what people want to report so take it with several grains of salt. Also, many how might be spending a lot more many not be posting so again the numbers may not be a good cross representation of reality.

Someone who has the time and stomach to deal with the 50 or so definitions of "what is spending" might create a poll on this.
I should have said, spend more than anyone who has posted on this thread. I am glad to see someone stated they spent 200k last year. That blows me out of the water and makes me feel better.
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 04:44 PM   #62
 
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Re: How much did you SPEND in 2005?

We spent about $77,600 last year.

About $40K were spent on some Lavish Home Re-modeling and Vacations. These could easily be cut in Bad times and our spending could easily be cut to about $40K without much effort.

Spent $5K on groceries. I agree with the parenthisis dude () - What are these other people eating?
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 04:47 PM   #63
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Re: How much did you SPEND in 2005?

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Originally Posted by Cut-Throat
Spent $5K on groceries. I agree with the parenthisis dude () - What are these other people eating?
I shop at Super Walmart. Always low prices.
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 05:00 PM   #64
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Re: How much did you SPEND in 2005?

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Originally Posted by Cut-Throat

- What are these other people eating?
Whatever I feel like eating.
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 05:42 PM   #65
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Re: How much did you SPEND in 2005?

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Originally Posted by bbuzzard
OK, there is something clearly wrong here, quite possibly with MY math.
I have had this problem with acute incredulousness since I first came here 3 years ago.

People buy all kinds of nice electronics, travel, etc- and report that they spent $30,000 for 2 or 3 people.

I know what I spend, because I keep double entry books, and it is only slightly less than $30,000 for one. And I am really cheap and have a paid-up house.

I prefer not to starve, but I almost always buy groceries on sale. If the broccoli is cheap, I buy it. If it’s cauliflower this week, I buy cauliflower. I don’t however buy some horrible can of something.

My favorite poster on this topic is the guy whose groceries cost very little because, as he later admitted, he mostly eats at his friends' houses.*

We all need more friends like this.* In fact, I know several guys who would nicely fit the definition of gigolo. They are ”companions" to well off women of a certain age. (By well off I don't mean 1 or 2 million.) These guys are relatively young, well educated, good conversationalists, good dancers, know which forks to use, etc., but have not been particularly successful at earning money by the usual routes.

I imagine that they would also report very low expenses. Kind of like living with your parent, except instead of earning your board by taking out the garbage, you have other more intimate duties. Plus, you had better stay on your good behavior as defined by your benefactress.

Ha
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 05:54 PM   #66
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Re: How much did you SPEND in 2005?

I think few people know in reality what they spend. It's pretty much like their YTD investment return. On that thread I saw a lot of wishful math.

For us, figuring out how much we spent was pretty straightforward because we do not withdraw funds from our investment accounts ever, so ...

Spending = Total W2 income earned (on the paystub, not what we get direct_deposited)
- Money_transfers_to_investments

That includes then everything: taxes, insurance, etc. And it includes the dreaded catch-all miscellaneous category.
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 05:58 PM   #67
 
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Re: How much did you SPEND in 2005?

I know exactly what I spend, as I track everything through Quicken. All of the $ is put into categories. All income is tracked.

I do have a Misc. category however that has about $2K of money that 'went' as Cash.

My 77.6K includes property taxes and Sales Taxes but no Income Taxes (Fed, State, SS etc.)
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 06:00 PM   #68
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Re: How much did you SPEND in 2005?

I agree with you, Ha. There's lots of variables that change food budgets. If I go out to eat, I usually end up bringing food home, and get three more meals out of a restaurant portion.... It's not a goal, just the way my appetite works. When I shop, I buy what I want, and it's never something over-priced. I have a good sense of what the prices should be and it's easy and ingrained behavior for me to decide on something that I like that also fits the weekly sales. I have never felt deprived by that. I also, frankly, had the best models in my parents. There were seven of us, and one of my brothers has hypoglycemia, so we had a very protein rich diet and no junk food or dessert. They were and still are very mindful of the sales. They never went out to eat (didn't want to) and never made a casserole. It was always meat or fish, potatoes, two vegetables, and wine or milk. I had my fill of meat, so never buy it, but have enough when I'm eating somewhere else. Had dinner with a friend tonight, and got the roast beef since it had been awhile......

I'd ask how people spend $5,000 on groceries, but I really can't relate, so I won't, and won't judge anybody for their choices.
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 06:04 PM   #69
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Re: How much did you SPEND in 2005?

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Originally Posted by Cut-Throat
What are these other people eating?
Not sure but their neighbors are very curious about why they never have to mow their lawns, and why their pets keep disappearing...
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 06:21 PM   #70
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Re: How much did you SPEND in 2005?

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Not sure but their neighbors are very curious about why they never have to mow their lawns, and why their pets keep disappearing...
Actually, they admire my tomato plants.
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 06:25 PM   #71
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Re: How much did you SPEND in 2005?

I should have taken a photo of the cherry tomato plant that grew in my yard last year. Apparently a tomato fell off one of the potted plants I had sitting on the patio 2 years ago and rolled off the patio and remained there until the following spring when its seeds sprouted. I saw it and just left it to its own devices, figuring it wouldnt stand much of a chance. By mid july, that plant had spread to cover about 9 square yards.

As of this writing, I dont wanna even look at a tomato at the grocery store... :P
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 06:32 PM   #72
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Re: How much did you SPEND in 2005?

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As of this writing, I dont wanna even look at a tomato at the grocery store... :P
Me neither. They're tasteless in the store.
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 08:24 PM   #73
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Re: How much did you SPEND in 2005?

Does not include income tax.

Insurance………………………… $5,754
Real Estate & Property Taxes $2,518
Mortgage…………………………. $9,906
Household Expences………….. $5,420
Liesure Activities………………. $7,940
Personal Living………………… $9,983
Transportation………………….. $9,196
Misc………………………………. $7,368
TOTAL……………………………. $58,085

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Re: How much did you SPEND in 2005?
Old 01-09-2006, 08:51 PM   #74
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Re: How much did you SPEND in 2005?

I'm curious why people are not including income taxes in their budget. Isn't it an expense like everything else?
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 09:29 PM   #75
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Re: How much did you SPEND in 2005?

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I'm curious why people are not including income taxes in their budget.* Isn't it an expense like everything else?
I don't keep track of it on the same spreadsheet and I was too lazy to look it up.
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Re: How much did you SPEND in 2005?
Old 01-09-2006, 09:32 PM   #76
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Re: How much did you SPEND in 2005?

I had to include income tax and FICA because it was about 33% of what we spent. That makes you kind of notice it.
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Re: How much did you SPEND in 2005?
Old 01-10-2006, 12:11 AM   #77
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Re: How much did you SPEND in 2005?

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I'm curious why people are not including income taxes in their budget.* Isn't it an expense like everything else?
I believe income taxes are categorically different from living expenses, since they are a function of earnings, not of expenditures. You can be the most frugal person in the world, and if you make $500, 000 per year, you are going to pay a lot of income tax.

Yet the day you quit work, that figure will decline markedly.

Ha
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Re: How much did you SPEND in 2005?
Old 01-10-2006, 12:33 AM   #78
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Re: How much did you SPEND in 2005?

The expenses I show are accurate almost to the penny. I am pretty frugal. Like most here, the only tax I included was my property tax which I see as an house expense. I do use turbo tax to help me calculate approximately what I will need pay for the current and next year. If you are already ER'd, the Fed and State tax due will vary based on the amount of your investment returns and investment strategies.
I need to figure out how to lower my taxes which after I sell my house will be fairly high.

MJ
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Re: How much did you SPEND in 2005?
Old 01-10-2006, 06:54 AM   #79
 
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Re: How much did you SPEND in 2005?

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Originally Posted by retire@40
I'm curious why people are not including income taxes in their budget. Isn't it an expense like everything else?
As Ha says. It is based on income. When you are retired and basically only have investment income it will go down. And you can always afford income tax.

I track spending for budgeting purposes. If I made a 1 time windfall profit on a piece of real estate and incurred another $100K of income tax, it would not tell me a lot about what I actually have to spend each year. However a property tax is a known entity and must be paid every year, no matter how well you are doing on your investments. That is why property tax is a 'cruel' tax, where income tax can always be afforded.

It's a nice problem to have. The bigger the tax, the better off you'll be.
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Re: How much did you SPEND in 2005?
Old 01-10-2006, 07:47 AM   #80
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Re: How much did you SPEND in 2005?

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I should have taken a photo of the cherry tomato plant that grew in my yard last year. Apparently a tomato fell off one of the potted plants I had sitting on the patio 2 years ago and rolled off the patio and remained there until the following spring when its seeds sprouted. I saw it and just left it to its own devices, figuring it wouldnt stand much of a chance. By mid july, that plant had spread to cover about 9 square yards.

9 square yards?? Or 243 square feet? Or an area 15.5 feet by 15.5 feet?
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