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Re: How much did you spend in 2006?
Old 01-03-2007, 08:52 AM   #101
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Re: How much did you spend in 2006?

Poor year:

41% spent on all living expenses.
59% savings - what for?

Need to work on reducing the savings rate this year!
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Re: How much did you spend in 2006?
Old 01-03-2007, 09:03 AM   #102
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Re: How much did you spend in 2006?

Spent $73, 288.36

Saved 33% of income............I know, what a "rookie".............. :P :P
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Re: How much did you spend in 2006?
Old 01-03-2007, 11:12 AM   #103
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Re: How much did you spend in 2006?

Based on the starting asset total of 2006, a withdrawl rate of 2.56%

Based on the ending asset total of 2006, a withdrawl rate of 2.36%.

Ray
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Re: How much did you spend in 2006?
Old 01-03-2007, 02:04 PM   #104
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Re: How much did you spend in 2006?

Working family of 7:

Mortgage (P&I) 22,000
Prop Tax 4,000
Utilities 5,000
Maint / Repairs 4,000
Food / Drinks 8,000
Automobile 5,000
Medical 4,000
Kids Activities 9,000
Charity 17,000
Other 10,000

Total 88,000

This does not include income/employment taxes.

It is always very helpful to balance the raw numbers posted in threads like this with the general theory that gets thrown around.
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Re: How much did you spend in 2006?
Old 01-03-2007, 04:43 PM   #105
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Re: How much did you spend in 2006?

Quote:
Originally Posted by Dreamer
I am motivated to track our spending in 2007 also. I never seem to do it for very long though. Just out of curiousity, when one goes to a Super Wal-Mart or someplace similar and you buy lots of different things, such as groceries, toiletries, clothing, pet supplies, misc, do you go home and sort out the different categories? It just seems like such a hassle or am I being too anal about it and that is why I don't keep up with it.

My DH does not like to tell me where he spends his money. He normally spends alot more than I do, unless I am on one of my trips. In the back of my mind, I am asking myself if I really want to start keeping track right now, because I am leaving for Hawaii at 4:00 AM tomorrow. Do I really want to write down everytime I buy a snack and do I really want to know how much I spent?

How does everyone stay motivated to keep track of it all?
Two suggestions:

At places like Walmart, if you sort your purchases by category as you put them onto the conveyor belt, you can ask the cashier to press the subtotal button after each category. That makes it marginally easier.

As to the level of detail, I think you should track to the level of detail you prefer to know about. My retired dad tracks about five categories - giving, taxes, household, credit card, and misc, or something like that. I have about 30 categories, many of which have subcategories and some even go to a third level of categorization. But I am a bit anal/OCD about finances.

Because of my divorce in 2006, I didn't track spending at all, but I have started up again as of 12/15/06, so I will have solid 2007 numbers to report. Right now it looks like about $50K in spending, with about a quarter of that being child support.

2Cor521

Edited to say "child support" instead of "alimony".
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Re: How much did you spend in 2006?
Old 01-03-2007, 05:22 PM   #106
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Re: How much did you spend in 2006?

OK... decided to look into this a bit... very interesting...

First, paid off mortgage very early, but don't consider that spend... but if you do it was abour $25K...

For the rest, spent about $70K... and thought WOW, where did it go...

Well, income tax, SS tax, medicare, property tax combined cost me $37K.. or almost 53% of my spend!!! And that does not include sales tax or gas tax or excise tax.. etc. etc...

For the rest, that is $33... I spent about $8K on 4 1/2 weeks of overseas vacation (two people on one trip and 3 on another, or I would have that cut in half....)
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Re: How much did you spend in 2006?
Old 01-03-2007, 08:27 PM   #107
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Re: How much did you spend in 2006?

Okay...we use to be diligent about capturing all spending in Quicken, and then Money, but slacked off over the past two years. You all have rekindled the flame! Thanks!!
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Re: How much did you spend in 2006?
Old 01-03-2007, 08:48 PM   #108
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Re: How much did you spend in 2006?

Yea, this is interesting...Kind of scary. Spent about $80K last year, including $10K for kids college expenses.

So here's a question: Is it really possible to spend $750/month on eating out?

Our plan for next year: More grilled cheese sandwiches and Campbells Tomato Soup. We'll be rich!
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Re: How much did you spend in 2006?
Old 01-03-2007, 09:29 PM   #109
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Re: How much did you spend in 2006?

Quote:
Originally Posted by lowflyer

So here's a question: Is it really possible to spend $750/month on eating out?
One of the reasons I don't eat out too often is that you consume way too many calories.
If you don't mind my asking: Are you overweight?
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Re: How much did you spend in 2006?
Old 01-04-2007, 06:40 AM   #110
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Re: How much did you spend in 2006?

Quote:
Originally Posted by lowflyer
So here's a question: Is it really possible to spend $750/month on eating out?
Standing on my head.
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Re: How much did you spend in 2006?
Old 01-04-2007, 06:50 AM   #111
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Re: How much did you spend in 2006?

Quote:
Originally Posted by lowflyer
So here's a question: Is it really possible to spend $750/month on eating out?
Sure - that's only $75 (or 10 dinner/occasions for 2 people - wine included...) for the month.

Remember though, assuming a 28% tax bracket (Federal only), you needed to earn $960 to have your "fun"...

- Ron
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Re: How much did you spend in 2006?
Old 01-04-2007, 07:47 AM   #112
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Re: How much did you spend in 2006?

Quote:
Originally Posted by Khan
Spent
$19.13 dining out
$20.00 clothes
$71.81 gasoline
$148.09 car maintenance
$2000 charity
---------
USED
266.3 CCF water
2780 KWH
607 CCF natural Gas
29.232 Gallon Gasoline
------------

This is fun, I'll have more numbers later.
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Re: How much did you spend in 2006?
Old 01-04-2007, 10:31 AM   #113
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Re: How much did you spend in 2006?

I just went back and read the 2005 thread . . . what happend to all those people spending $10-20k? We must be attracting a "better" class of people around here!
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Re: How much did you spend in 2006?
Old 01-04-2007, 10:54 AM   #114
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Re: How much did you spend in 2006?

Quote:
Originally Posted by bongo2
I just went back and read the 2005 thread . . . what happend to all those people spending $10-20k? We must be attracting a "better" class of people around here!
Or people are actually telling the truth?

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Re: How much did you spend in 2006?
Old 01-04-2007, 11:27 AM   #115
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Re: How much did you spend in 2006?

Quote:
Originally Posted by Meadbh
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I live in a small paid for house.

My spending will increase in the future, as things are old/wearing out:
washing machine - 13 years
TV - 17 years
car - 18 years
shoes - 4 years
also some big ticket home maintenance coming up
-
replaced sump pump yesterday - 22 years
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Re: How much did you spend in 2006?
Old 01-04-2007, 11:32 AM   #116
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Re: How much did you spend in 2006?

What I find personally interesting about this thread is how many people say something along the lines of "Well, my total spending was $X, but if you exclude {taxes, vacation, college tuition, one time expenses, whatever}, it was only $y." Mentally we seem to want to believe that we spend less than we actually do. JMHO.

2Cor521
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Re: How much did you spend in 2006?
Old 01-04-2007, 11:35 AM   #117
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Re: How much did you spend in 2006?

I allocated/distributed 100% of my/DW's gross income (you can break it down )

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Re: How much did you spend in 2006?
Old 01-04-2007, 12:09 PM   #118
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Re: How much did you spend in 2006?

$23K excluding college
$49K including college
Attached Images
File Type: jpg Expenses.jpg (33.0 KB, 34 views)
Attached Files
File Type: jpg_thumb Expenses.jpg_thumb (15.4 KB, 2 views)
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Re: How much did you spend in 2006?
Old 01-04-2007, 12:15 PM   #119
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Re: How much did you spend in 2006?

Quote:
Well, my total spending was $X, but if you exclude {taxes, vacation, college tuition, one time expenses, whatever}, it was only $y."
I often exclude college and taxes because I'm quite sure I'll be done with that when DW graduates. Also, I sometimes look at things without taxes because my taxes will be a lot lower now that I'm retired.

But you have a good point: You should always expect to have some unexpected expenses.
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Re: How much did you spend in 2006?
Old 01-04-2007, 12:34 PM   #120
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Re: How much did you spend in 2006?

Quote:
Originally Posted by SecondCor521
What I find personally interesting about this thread is how many people say something along the lines of "Well, my total spending was $X, but if you exclude {taxes, vacation, college tuition, one time expenses, whatever}, it was only $y." Mentally we seem to want to believe that we spend less than we actually do. JMHO.

2Cor521
It is just a different aspect... I don't think I spend less, just seeing the differences...

When I retire, my taxes will go down a lot... I did not exclude tuition as I did not pay any... well, I now lie... I did pay some for my nephew and niece... but I did not exclude it... but more than likely the same thinking...

And I also broke out my vacation as it was a large expenditure that I normally do not have.. but I DID put it in my spending...

So... using your thinking... I spent $70K.. which is what I said... using MY thinking of what will I spend if I retire... then it is closer to $50K and that is with a BIG amount that I can stop at any time... I could live very comfortably on $30 to $36K... all in...
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