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View Poll Results: What's your monthly budget, excluding housing, real estate taxes and health insurance
$0 to $999 10 6.37%
$1000 to $1999 37 23.57%
$2000 to $2999 33 21.02%
more than $3000 77 49.04%
Voters: 157. You may not vote on this poll

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Old 09-15-2010, 01:04 PM   #21
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Originally Posted by Moscyn View Post
On the assumption that this is for expenses of a single person (not including expenses of any family members who are dependents), I voted $1,000 to $1,999 but this may be higher if I were to take more vacations. At the moment, I plan to take around 5 trips a year (2 long trips and remaining shorthauls). I was wondering what is the major expense for those who tick more than $3,000?
I ticked more than $3,000. My monthly outgo is just under $5k per month, for me and my 3 kids about a third of the time.

Here are my top expenditures:

Taxes (fed/state/SS/Medicare) ~$1,644/mo (does not include property taxes)
Kids (mostly child support) ~$1,335/mo
Interest expense ~$644/mo (excluded according to the rules, but included in the "just under $5k" amount above)
Recreation (unusually high at the moment because of a one-time trip to San Diego) ~$457/mo
Food ~$259/mo

That's about 90% of my actual outflow. Savings is a large component but I do not include that as an expense; just a transfer in Quicken.

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Old 09-15-2010, 01:15 PM   #22
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Yes I was thinking per person, but the total number is interesting too. I spend $1500 right now, but after I ER I expect that to go down as I won't have the costs of commuting.
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Old 09-15-2010, 01:24 PM   #23
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I'll bet the FIRE group has spending that is very close to average (we probably have above average incomes and assets).

Here is the "official" average monthly spending for two person families according the the BLS:



Age Group ----------------- 55-64 65-74
--------------------------- ----- -----
Food at home ---------------- 320 321
Food away from home --------- 257 198
Mrtg Int, RE Tax, Rent ------ 614 424
Other Housing --------------- 973 863
Clothing -------------------- 164 140
Transportation -------------- 874 747
Healthcare ------------------ 369 510
Entertainment --------------- 281 279
Personal care prod & svcs ---- 58 ,55
Alcohol / Tobacco ------------ 79 ,58
Reading / Education ---------- 88 ,43
Contributions --------------- 259 213
Personal Insurance ----------- 49 ,49
Other ----------------------- 114 ,69
-------------------------------------
Total --------------------- 4,497 3,969


Net of Mrtg, RET, Rent,HC - 3,515 3,034
--- Net per person -------- 1,757 1,517

It's no surprise that the poll is showing "over $3,000" as the most common response and another bump at $1,500-$1,999. The higher number is couples and the lower number is singles.

http://www.bls.gov/cex/2008/CrossTabs/sizbyage/atwo.xls
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Old 09-15-2010, 01:29 PM   #24
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Unlike the other poll (travel: $100K and up per year?), I think that this one could do with some more options at the top end.
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Old 09-15-2010, 02:56 PM   #25
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I guesstimate about $ 2000.00 per month on average for myself and the pooch. This is for day to day stuff....lunch out about three times a week, dinner out about once a month, gas, food, gifts, donations, lawncare, utilities, hairdresser, the occasional clothing purchase, movie tickets, occasional concert or play, wine, gym membership. I did not include stuff like car repair, dental/optical, the new washing machine (which set me back $1000.00 bucks), or travel.
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Old 09-15-2010, 03:02 PM   #26
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I voted for $1000 - $1999, but that excludes vacations. The range selected covers core expenses, non-core but usual expenses. Vacation I kept out as it's so discretionary; if included it would have bumped me up to the next higher tier.
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Old 09-15-2010, 03:57 PM   #27
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Vacation I kept out as it's so discretionary...
For DW, it's a necessity (I included it) ...
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Old 09-15-2010, 04:57 PM   #28
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I seem to be the high one... over $5K... but that includes income taxes, auto, home insurance etc...
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Old 09-15-2010, 07:08 PM   #29
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Planning or actually doing?
He's looking at apartments next week. I knew he was getting serious when he bought a new router.

"What's the new router for?"
"I'll need one when I move out."
*big cheesy grin*
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Old 09-15-2010, 08:22 PM   #30
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Having seen the replies, I know I have not calculated mine right. I have left out larger regular utility expenses/rates for home, club fees, etc as DH handles all that. So, my number represents my personal expenses and the portion of joint expenses which I pay (which is a much smaller portion).
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Old 09-16-2010, 05:06 AM   #31
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Hello Khan - I noticed you posted recently (9/20) that your annual income is about $75k ("gross income and one person with varying amounts of cats"). Yesterday you wrote you spend only $1,500 a month and you "give away whatever's left over". That's about a couple of thousand dollars a month being given away. Thank you Khan for being so generous, you have a very kind heart.

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~$1500/month

I give away whatever's left over
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Old 09-16-2010, 05:11 AM   #32
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These figures are very helpful. Thank you for sharing, Independent.

Quote:
Originally Posted by Independent View Post
I'll bet the FIRE group has spending that is very close to average (we probably have above average incomes and assets).

Here is the "official" average monthly spending for two person families according the the BLS:



Age Group ----------------- 55-64 65-74
--------------------------- ----- -----
Food at home ---------------- 320 321
Food away from home --------- 257 198
Mrtg Int, RE Tax, Rent ------ 614 424
Other Housing --------------- 973 863
Clothing -------------------- 164 140
Transportation -------------- 874 747
Healthcare ------------------ 369 510
Entertainment --------------- 281 279
Personal care prod & svcs ---- 58 ,55
Alcohol / Tobacco ------------ 79 ,58
Reading / Education ---------- 88 ,43
Contributions --------------- 259 213
Personal Insurance ----------- 49 ,49
Other ----------------------- 114 ,69
-------------------------------------
Total --------------------- 4,497 3,969


Net of Mrtg, RET, Rent,HC - 3,515 3,034
--- Net per person -------- 1,757 1,517

It's no surprise that the poll is showing "over $3,000" as the most common response and another bump at $1,500-$1,999. The higher number is couples and the lower number is singles.

http://www.bls.gov/cex/2008/CrossTabs/sizbyage/atwo.xls
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Old 09-16-2010, 08:12 AM   #33
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Quote:
Originally Posted by obgyn65 View Post
Hello Khan - I noticed you posted recently (9/20) that your annual income is about $75k ("gross income and one person with varying amounts of cats"). Yesterday you wrote you spend only $1,500 a month and you "give away whatever's left over". That's about a couple of thousand dollars a month being given away. Thank you Khan for being so generous, you have a very kind heart.
$75K was my last year of employment.

Income now is ~$30K.
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Old 09-16-2010, 08:26 AM   #34
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I seem to be the high one... over $5K...
Nope ...

Not looking to "one better" you; in fact, I wish our expenses were much less, but then life dosen't always give you what you want...
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Old 09-16-2010, 09:04 AM   #35
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For our family of four with these exclusions its $3600. That does not count $485 per month in Real Estate tax no mortgages or any debt anyway, $500 per month in Health Ins. premiums and a line item for the health deductible if we meet it of $583. All number are per month.
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Old 09-16-2010, 10:18 AM   #36
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$833 for two with these exclusions.
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Old 09-16-2010, 10:18 AM   #37
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I don't really have a budget, per se. I checked $1000-$1999, which covers all of my expenditures except income tax.

This figure includes the cost of my car divided by the number of years it is kept, and also included is everything else - - such as all travel, gifts, utilities, evacuation expenses, and property tax (which is low, here).

I buy everything I want, but obviously would be spending a lot more if I lived in a more expensive location and/or was supporting a family.
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Old 09-18-2010, 09:32 AM   #38
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I checked $1,000 to $1,999. Excluding my share of the mortgage/utilities/RE tax I spend an average of $2,000 per month (maybe a little less).

My biggest category is food. I probably spend $500 to $600 per month on groceries and eating out. I eat out for lunch every day at work and often pick up the tab for groceries for our 2 person household.
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Old 09-18-2010, 10:12 AM   #39
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My house is paid for so I have no mortgage/rent, and the other two exclusions (property taxes and health insurance) are by far my biggest expenses. The remainder of my monthly budget is around $750.
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Old 09-18-2010, 10:59 AM   #40
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I leave work in Dec and officially retire in Feb 2011 but my DW and I put together our retirement planning worksheet with expenses of $5200/mo after mortgage for two people. I have 47 line items for insurance, utilities, transportation, food & personal, entertainment, and medical. I have $500/mo for travel which would allow us a trip to Europe every yr or couple of yrs. Also, budgets for future cars, car maintenance, and house maintenance. I am determined to bring this expense rate down once Feb rolls around and I actually have to live on a retirement budget. Anything I can save on this monthly budget can be put into continuing to contribute to my retirement savings accounts.
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