Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
2007
Old 01-01-2008, 11:31 AM   #21
Full time employment: Posting here.
 
Join Date: Jul 2007
Location: ST LOUIS
Posts: 994
2007

Housing 5000
Car 2500
Food 2400
Health ins 700
Gifts 300
Clothes and Merchandise 200

Total 11,100

Not bad for two people
We think it is fun to save money
In the Midwest
__________________

__________________
rec7 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-01-2008, 11:37 AM   #22
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Quote:
Originally Posted by F-One View Post
Nords, you spent $13.8K to leave Hawaii ?? Now that's funny
Mostly a West Point graduation and a college-search trip, during which we heard that sentiment expressed about 10 times a day...

The ultimate irony of vacationing Hawaii residents is at Disneyland & Vegas, where it's not unlikely for half the residents on a hotel floor to be from the same island. I think the hotels & casinos recruit our demographic...

Quote:
Originally Posted by LOL! View Post
Didn't I ask about charitable contributions last year? What happened?
But then they wouldn't be anonymous, would they?

We greatly expanded that program this year and will keep it up with a percentage of our investment returns.
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 01-01-2008, 11:42 AM   #23
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Wife and I. I wont break down the numbers. Just expenses listed including tax

However in 2006 it was 50000 + or - 500

2007 50000

But it includes all the usuals. House repairs and the unexpected dental work. Plus a couple great vacations. It was curious how close the numbers were. If push came to shove we could reduce that amount by an easy 5000 which is what we budget for our vacations. It will probably go up this year due to having a roof done that is a fairly large expense.
__________________
Notmuchlonger is offline   Reply With Quote
Too Much
Old 01-01-2008, 12:08 PM   #24
Full time employment: Posting here.
 
Join Date: Jan 2008
Posts: 609
Too Much

Here's our outflow:

Life Insurance (785)
Auto/Home Insurance (2,220)
Medical (616)
Property Taxes (3,263)
Cable TV (385)
Electricity (2,313)
Heating Oil (1,421)
Phone & Internet (952)
Water/Sewer (630)
Vacation (4,631)
Household (everything else; food, clothes, entertainment, etc) (47,057)
Mortgage (15,360)
Fed Tax (23,594)
State Tax (6,787)

Total before taxes: 79,633

I use quicken, but can't get used to itemizing past actual bills. We just lump sum everything together and budget off that.

Really need to get those tax bills down. Haven't found a way....yet!

Nano
__________________
NanoSour is offline   Reply With Quote
Old 01-01-2008, 12:20 PM   #25
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
$68,200.00 (net)
__________________
Spanky is offline   Reply With Quote
Old 01-01-2008, 12:39 PM   #26
Recycles dryer sheets
 
Join Date: Dec 2006
Posts: 424
Spent 62k not including taxes
Saved 25k
__________________
JohnDoe is offline   Reply With Quote
Old 01-01-2008, 12:44 PM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,725
Send a message via Skype™ to kcowan
$99k including $36k penthouse rental and $10k snowbirding expenses and taxes
$53.3k net
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Old 01-01-2008, 12:47 PM   #28
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,044
For wife and I, $63,800 (excluding taxes), down 1.4% from 2006. Car expenses jumped almost 40% from 2006 (lots of costly repairs for my 7year old VW plus higher gas prices), grocery costs increased nearly 10%, and we spent almost 35% more on gifts (mostly cash gifts to help family members). But durable good purchases decreased almost 20% and our utilities cost cutting measures are starting to pay off with a 15% drop from 2006. The results are surprising as I thought we spent a lot more money in 2007 than we did in 2006 (it just felt like a very expensive year for some reason).

But in 2007 our tax bill came to a record $32,500 (includes Federal, state and FICA), up 16% though income was up only 7%.
__________________
FIREd is offline   Reply With Quote
Old 01-01-2008, 02:14 PM   #29
Full time employment: Posting here.
 
Join Date: Oct 2007
Location: New York
Posts: 898
I just finished this a few hours ago.


Excluding two large 'extraneous' items (some pricey art and a pricey room renovation):

Housing: $68,883
Utilities: $6,576
Cash*: $33,283
Medical/Dental: $2,833
Food&Drink: $7,227
Entertainment: $15,456
Travel: $17,470
Consumer Goods: $16,885
Gifts: $3,980
Misc: $4,245

Total: $168,839.


Including the 'exceptional' items we spent $202,976.


*Cash - I know this category is bogus, but such are the limits of my record keeping. In reality its a mixture of Food, Entertainment, and Transportation

Other notes on categories: 'Entertainment' includes eating out. 'Misc' includes public transportation. Lots of transportation costs (taxis) are hidden in that 'Cash' category, maybe even 8-10k worth.
__________________
Money's just something you need in case you don't die tomorrow.
Maurice is offline   Reply With Quote
Old 01-01-2008, 02:15 PM   #30
Recycles dryer sheets
 
Join Date: Jan 2007
Posts: 398
Mortgage (12,397)
Property Tax (2,970)
Charity (5,040)
Home Insurance (762)
Auto Insurance (467)
Auto Gas (829)
Cable TV (636)
Phone (343)
Internet (219)
Electricity and Gas (247)
Water (219)
Trash (142)
Medical (713)
Veterinary (345)
Food (1,646)
Misc (2,727)

Total (29,703) (plus 65,287 in estimated income taxes)

Previous Years:
1999 (30,915)
2000 (33,454)
2001 (27,325)
2002 (31,751)
2003 (29,757)
2004 (25,510) [plus 18K in veterinary bills]
2005 (29,424) [plus 5K in veterinary bills]
2006 (30,735)
2007 (29,703)
__________________
Shawn is offline   Reply With Quote
Old 01-01-2008, 03:03 PM   #31
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
I'm impressed with all the record keeping. I can only give a WAG at about 120K
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Old 01-01-2008, 03:06 PM   #32
Thinks s/he gets paid by the post
Bikerdude's Avatar
 
Join Date: Jul 2006
Posts: 1,901
Single, $41,570, biggest expense: taxes. State, Fed and property= $9,081 .
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
Bikerdude is offline   Reply With Quote
Old 01-01-2008, 03:08 PM   #33
Full time employment: Posting here.
 
Join Date: Oct 2007
Location: New York
Posts: 898
Quote:
Originally Posted by Bikerdude View Post
Single, $41,570, biggest expense: taxes. State, Fed and property= $9,081 .

I didn't include taxes in mine. Too early for me to figure that out yet!
__________________
Money's just something you need in case you don't die tomorrow.
Maurice is offline   Reply With Quote
Old 01-01-2008, 03:11 PM   #34
Thinks s/he gets paid by the post
free4now's Avatar
 
Join Date: Dec 2005
Posts: 1,225
This thread is a good inspiration for me to calculate my spending. This year total 2007 spending was $84,200 not including taxes. This included a one time cash gift of $12k, and expenses related to fixing up my condo for sale, as well as moving and refurnishing expenses.

I am thinking that my ongoing living costs will be about $60k a year now that I'm living in the city... it's more expensive than the suburbs where I spent $51k last year.

BTW for those of you who aren't sure how to calculate your spending, you might want to try my super simple approach. I have a single checking account through which all spending flows, and I just get a year end spending report on it from my bank. To make this work I needed to have a separate checking account that I use for all transfers... any money that will leave the account into another of my financial accounts. I am careful that any money going out of the spending checking account is actually spending, and any money going out of the transfer checking account is actually not spending.
__________________
free4now is offline   Reply With Quote
Old 01-01-2008, 03:44 PM   #35
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
2 adults, 1 income, no mortgage, North Texas......expenses $43,755.00 (not including fed tax)

Did save $51,500 for retirement fund...hubby wants to hang it up in 2009.
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 01-01-2008, 04:03 PM   #36
Recycles dryer sheets
 
Join Date: Jul 2005
Posts: 423
Don't mean to hijack the thread, but I am just wondering how you guys do the record-keeping to keep track of all these categories? Do you use a digital tool like wesabe/yodlee/quicken or are you just unbelievably disciplined at keeping up spreadsheets?

I really liked my AmEx as they produced a nice end of the year categorized spending list for me, but now that I switched to the EmigrantDirect cashback card, I don't think they have that feature.

I try to do all my spending on credit, but some large expenditures can't be done that way (like my rent and electricity). Plus in NYC, many restaurants are cash-only, as crazy as that is.

I'd love to track all expenses as well, but i just know I am not disciplined enough if it requires paperwork...
__________________
Olav23 is offline   Reply With Quote
Old 01-01-2008, 04:47 PM   #37
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,644
A lot!

DD is in her final year at NYU: $50K -kaching.
New furniture and house upgrades preparatory to DW's ER: kaching.
Regular expenses: kaching.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 01-01-2008, 04:48 PM   #38
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
Quote:
Originally Posted by Olav23 View Post
Don't mean to hijack the thread, but I am just wondering how you guys do the record-keeping to keep track of all these categories? Do you use a digital tool like wesabe/yodlee/quicken or are you just unbelievably disciplined at keeping up spreadsheets?

I really liked my AmEx as they produced a nice end of the year categorized spending list for me, but now that I switched to the EmigrantDirect cashback card, I don't think they have that feature.

I try to do all my spending on credit, but some large expenditures can't be done that way (like my rent and electricity). Plus in NYC, many restaurants are cash-only, as crazy as that is.

I'd love to track all expenses as well, but i just know I am not disciplined enough if it requires paperwork...
For expenses, I have just one excel spreadsheet for each year. The biggest PITA was setting up the catagories. Every once in a while I'd have to add a new one. Most of our expenses are on 2 credit cards, so that makes it pretty easy. I post the other expenses when I receive the bills. The cash part goes into a misc fund, but it is never over $200 a month. If it were, I would separate those as well.

To me, this is an important step to retirement. We have to know how much it takes to pay the bills, where the money goes and what we could cut if there is a need.
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 01-01-2008, 04:50 PM   #39
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Quote:
Originally Posted by Olav23 View Post
Don't mean to hijack the thread, but I am just wondering how you guys do the record-keeping to keep track of all these categories? Do you use a digital tool like wesabe/yodlee/quicken or are you just unbelievably disciplined at keeping up spreadsheets?
I'd love to track all expenses as well, but i just know I am not disciplined enough if it requires paperwork...
Quicken. A few minutes a day or a half-hour a week.

What matters is finding a method that works for you. The software is pretty much a personal preference as is the degree to which you drill down into categories.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 01-01-2008, 04:50 PM   #40
Full time employment: Posting here.
 
Join Date: Oct 2007
Location: New York
Posts: 898
Quote:
Originally Posted by Olav23 View Post
Don't mean to hijack the thread, but I am just wondering how you guys do the record-keeping to keep track of all these categories? Do you use a digital tool like wesabe/yodlee/quicken or are you just unbelievably disciplined at keeping up spreadsheets?

I really liked my AmEx as they produced a nice end of the year categorized spending list for me, but now that I switched to the EmigrantDirect cashback card, I don't think they have that feature.

I try to do all my spending on credit, but some large expenditures can't be done that way (like my rent and electricity). Plus in NYC, many restaurants are cash-only, as crazy as that is.

I'd love to track all expenses as well, but i just know I am not disciplined enough if it requires paperwork...
I do it on a spreadsheet. Once a month, I paste the activity from my Visa, the wife's Visa, and our checking account into a spreadsheet. From there I select a category for each line item and the spreadsheet totals it for me.

The problem I have is the 'cash' bucket becomes a catch-all which limits the utility of my system. I too live in NYC and spend a lot in cash. To really track that I'd have to take notes during the day or update a spreadsheet each night, something I'm probably not disciplined enough to do. One thing I could do is use my debit/credit card whenever I can, at least that would minimize the 'cash' bucket.
__________________

__________________
Money's just something you need in case you don't die tomorrow.
Maurice is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
has anyone tried to get you to spend more? lazygood4nothinbum Life after FIRE 24 11-21-2007 10:47 AM
Still can't spend even though FI 52andout FIRE and Money 33 10-30-2007 05:28 PM
Two people....what do you spend? tkp FIRE and Money 62 03-29-2007 11:30 PM
How much did you spend on..... Donzo Other topics 54 02-27-2007 02:02 PM
What % do you spend in retirement? JustCurious Life after FIRE 12 01-18-2007 08:33 AM

 

 
All times are GMT -6. The time now is 07:11 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.