Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Monthly spending money?
Old 12-06-2006, 07:42 PM   #1
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
Monthly spending money?

I recently came across $1500 cash from a little wheeling and dealing (don't ask). When I mentioned this to the DW, she wanted half. Various discussions and negotiations took place regarding the money and what each person deserved during retirement. We both are comfortable making spot decisions regarding buying things in common for 'our' use. We each have a different perspective on how much money or allowance each person should get solely for personal use, the daily nickels and dimes of daily life that are spent only on one's self in retirement. I suggested $6.25/mo. each ($1500/120 mo. =$12.50/2=$6.25/person/mo. for ten years. CPI adjusted thereafter ). I got the :P. Realistically, this is probably a bit low--maybe :.

Could folks in retirement mention what they typically spend on junk and stuff for just themselves and/or what their spouses spend? I don't mean on clothes or priorly agreed upon hobbies or any shared fun stuff. I just mean all the little personal crappola per month.
__________________

__________________
Compounding: Never forget! Never not remember!
greg 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!

Re: Monthly spending money?
Old 12-06-2006, 07:47 PM   #2
Full time employment: Posting here.
shiny's Avatar
 
Join Date: Jun 2005
Posts: 673
Re: Monthly spending money?

Does this count things like getting my hair done? Its one of those things that cost me so much more to maintain than DH that it doesn't really seem fair.
__________________

__________________
I'm made of atoms, you're made of atoms, and we're all in this together. Ben Lee
shiny is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 08:03 PM   #3
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Re: Monthly spending money?

You and I would say no, but DH may say yes.

I cut Greg's hair. I get my hair done at a stylist. Our semi-understanding is that once I retire he will cut my hair. This is despite the fact that he cut my hair once in the late 1970s resulting in tears. We both agreed practice was necessary. The difference today is that now I keep my hair very short so it is possible he could do fine with a clippers.

Anyway, I think the haircuts are necessities and don't come out of my goos and salves budget.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 08:12 PM   #4
Thinks s/he gets paid by the post
MasterBlaster's Avatar
 
Join Date: Jun 2005
Posts: 4,359
Re: Monthly spending money?

Martha:

You need a Flowbee or a robocut. That's a haircut device that you hook up to your vacuum cleaner.
Attached Images
File Type: jpg Flowbee.jpg (13.5 KB, 22 views)
File Type: jpg Flowbee2.jpg (7.6 KB, 21 views)
File Type: jpg Flowbee3.jpg (18.7 KB, 22 views)
File Type: jpg Flowbee4.jpg (23.0 KB, 25 views)
Attached Files
File Type: jpg_thumb Flowbee.jpg_thumb (26.7 KB, 0 views)
File Type: jpg_thumb Flowbee2.jpg_thumb (26.0 KB, 0 views)
File Type: jpg_thumb Flowbee3.jpg_thumb (40.1 KB, 0 views)
File Type: jpg_thumb Flowbee4.jpg_thumb (36.6 KB, 0 views)
__________________
MasterBlaster is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 08:16 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,380
Re: Monthly spending money?

This is a level of control that I find hard to imagine. Wouldn't you rather work than have a wife or husband commenting on how much you spend on Espressos, or magazines, or hair and beauty care?

If I were a woman unless I really didn't care what happened to my relationship I wouldn't let my SO know anything about my body maintenance budget. He might complain, and then go find a bimbo to play with if you cut back.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Flowbee Continued
Old 12-06-2006, 08:17 PM   #6
Thinks s/he gets paid by the post
MasterBlaster's Avatar
 
Join Date: Jun 2005
Posts: 4,359
Flowbee Continued

Martha:

You have to be a bit careful with the Flowbee or else you'll end up looking like this...
Attached Images
File Type: jpg frizz.jpg (18.4 KB, 26 views)
Attached Files
File Type: jpg_thumb frizz.jpg_thumb (31.5 KB, 0 views)
__________________
MasterBlaster is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 08:24 PM   #7
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Re: Monthly spending money?

Quote:
Originally Posted by Martha
I cut Greg's hair.
Well, he's not thinking ahead if he's arguing with you about your half of the $1500... you'll get at least that much entertainment value out of his next haircut!

Spouse spends $10-$20/week at garage sales, except for the occasional $100 "undescribably good tchotchke deal". I buy one or two books a month on Amazon.com (for Dory's server fund, of course). We go out to Taco Bell or Thai Kitchen at least twice a month (whether we think it's necessary or not) and I don't stint on the occasional $50 power toy tool or computer widget. Of course I've saved over $250 on haircut avoidance since my retirement.

But I still carry fruit & beverages in the car when I go out, take a water bottle with me for surfing, and avoid most impulse purchases... some reflexes never stop.
__________________
*
*

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
Re: Monthly spending money?
Old 12-06-2006, 08:58 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Feb 2003
Location: Mesa
Posts: 3,588
Re: Monthly spending money?

Quote:
Originally Posted by HaHa
This is a level of control that I find hard to imagine. Wouldn't you rather work than have a wife or husband commenting on how much you spend on Espressos, or magazines, or hair and beauty care?

If I were a woman unless I really didn't care what happened to my relationship I wouldn't let my SO know anything about my body maintenance budget. He might complain, and then go find a bimbo to play with if you cut back.

Ha
I track spending to the penney by category . . . but I never try to assign it to a person. I wouldn't even know how to split a lot of things.

We actually keep separate checking accounts, but only so we can each write a check at will, split up the bill responsibility, and be the only one responsible for balancing our own checkbook. If either checking account needs more funds, we transfer out of a common account into our checking account. Since our bill responsibility split is arbitrary, we couldn't even figure out whose expense is whose.

Give it up Greg. And if you don't, be sure and post a picture of yourself in your new mohawk haircut.
__________________
sgeeeee is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 09:18 PM   #9
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: 8,634
Re: Monthly spending money?

Quote:
Originally Posted by Martha

I cut Greg's hair. I get my hair done at a stylist.
I always thought that thing the stylists do with the fingers to measure the proper length of hair as they cut looked pretty easy. When I was working the barber was in the building and was an easy trip. Now I have to walk about 6 blocks to a "stylist" or 5 blocks to the the place across the street from the Marine Corps Barracks. I tried the Corps way but it was always a hassle so I decided to give cutting my own a try. That is a year ago and I am still at it. It actually is pretty easy to cut it yourself with barber's shears as long as you are going for a moderately long look.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 09:25 PM   #10
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Re: Monthly spending money?

Quote:
Originally Posted by Greg

Could folks in retirement mention what they typically spend on junk and stuff for just themselves and/or what their spouses spend? I don't mean on clothes or priorly agreed upon hobbies or any shared fun stuff. I just mean all the little personal crappola per month.
Being only half-assed semi-anal, we don’t track our spending down to that level of crappola detail. We use a slightly looser method of budgeting and expense tracking.

DW retired three years prior to me checking out, so during that time we experimented on how we would work out the finance thing. We developed a mutually agreed budget/allowance that gives her $1,xxx per month from which she is responsible for all the household consumables (food, detergent, tp, etc.), her clothing, magazine subscriptions, hair & nail care, and all other general what-knots she cares to purchase…as long as she stays within her allowance. She also gets a $250 quarterly “bonus” ($500 in the 4Q) just for the heck of it…pays for holiday meals, birthday parties for the grandkids, new socks, whatever.

I pay for everything else and also have a $600 per month budget for eating out and my hobbies (power tools, booze, & gambling). When it comes to major items (we just spent $1,600 to replace carpet in two rooms with laminate flooring for example) we discuss and agree on the expenditure…and I pay for it. Seems to work for us.


__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 09:30 PM   #11
Thinks s/he gets paid by the post
 
Join Date: Feb 2003
Location: Mesa
Posts: 3,588
Re: Monthly spending money?

Quote:
Originally Posted by REWahoo!
Being only half-assed semi-anal, we don’t track our spending down to that level of crappola detail. We use a slightly looser method of budgeting and expense tracking.

DW retired three years prior to me checking out, so during that time we experimented on how we would work out the finance thing. We developed a mutually agreed budget/allowance that gives her $1,xxx per month from which she is responsible for all the household consumables (food, detergent, tp, etc.), her clothing, magazine subscriptions, hair & nail care, and all other general what-knots she cares to purchase…as long as she stays within her allowance. She also gets a $250 quarterly “bonus” ($500 in the 4Q) just for the heck of it…pays for holiday meals, birthday parties for the grandkids, new socks, whatever.

I pay for everything else and also have a $600 per month budget for eating out and my hobbies (power tools, booze, & gambling). When it comes to major items (we just spent $1,600 to replace carpet in two rooms with laminate flooring for example) we discuss and agree on the expenditure…and I pay for it. Seems to work for us.


I don't know. It sound fully anal to me. Do you look up CPI each month to increment the budgets?
__________________
sgeeeee is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 10:05 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,456
Re: Monthly spending money?

Gosh - we don't have a "his" or "her's" budget or allowance, we just each charge whatever we want on the credit card (which get's paid off every month).

OK - we do mention to the other if we are planning a major purchase.

Audrey
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 10:10 PM   #13
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Re: Monthly spending money?

Quote:
Originally Posted by audreyh1
Gosh - we don't have a "his" or "her's" budget or allowance, we just each charge whatever we want on the credit card (which get's paid off every month).
If your portfolio is large enough to let you do that, then you are among the fortunate ones.

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 10:30 PM   #14
Full time employment: Posting here.
UncleHoney's Avatar
 
Join Date: Aug 2006
Location: Columbus
Posts: 769
Re: Monthly spending money?

Around our house there is only one checkbook, only one credit card. None of this my money, your bills stuff. It's our money and they are our bills. We each have our own savings account, but they're joint accounts with equal access. Been that way for for 34 years and it works for us.

We don't even budget for stuff and never did. If we need something we go buy it. if we want something we go buy it. Might sound like it could get out of control, but it never does. We each know what the limit of pain is on the bank account and we show a little restraint. For the most part we live way below our means and have most everything we want and need.

The nice thing about our system is we both know how to make it work and we stick with it. We each know what our financial responsibilities are and we work together to make it happen. For 34 years we have never worried where we were going to get the money to pay bills or even had an argument about money.

UH
__________________
100% retired and working hard at it.
UncleHoney is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 11:04 PM   #15
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
Re: Monthly spending money?

Quote:
Originally Posted by shiny
Does this count things like getting my hair done? Its one of those things that cost me so much more to maintain than DH that it doesn't really seem fair.
No, not to me. Those things, clothes, hair-dos, etc. are all sort of rolled into general living and maintenance expenses to me. I'm mostly looking for a $ number representing frivolous spending/mo.
__________________
Compounding: Never forget! Never not remember!
greg is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 11:40 PM   #16
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
Re: Monthly spending money?

Quote:
Originally Posted by Nords
Well, he's not thinking ahead if he's arguing with you about your half of the $1500... you'll get at least that much entertainment value out of his next haircut!

Spouse spends $10-$20/week at garage sales, except for the occasional $100 "undescribably good tchotchke deal". I buy one or two books a month on Amazon.com (for Dory's server fund, of course). We go out to Taco Bell or Thai Kitchen at least twice a month (whether we think it's necessary or not) and I don't stint on the occasional $50 power toy tool or computer widget. Of course I've saved over $250 on haircut avoidance since my retirement.

But I still carry fruit & beverages in the car when I go out, take a water bottle with me for surfing, and avoid most impulse purchases... some reflexes never stop.
You reminded me, this summer I wanted to post a a thread called "$100 daze." I went out one morning to pick up milk, and just milk (I happened to have a $100 bill in my pocket leftover from a camping trip). I came home about two hours later with a pile of stuff and some coins in my pocket. The money just went zip, poof. The same thing happened the next week. I seriously had no expectation of spending much of anything as I walked out the door but ended up at Home Depot, etc. I started wondering if similar things happened to others.

DW uses the old dog clippers on my hair, has for twenty years. They work just fine, and I just sharpened them myself for the first time. I hope I did it right.
__________________
Compounding: Never forget! Never not remember!
greg is offline   Reply With Quote
Re: Monthly spending money?
Old 12-06-2006, 11:54 PM   #17
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
Re: Monthly spending money?

Quote:
Originally Posted by sgeeeee
Give it up Greg. And if you don't, be sure and post a picture of yourself in your new mohawk haircut.
Never. This is the fun stuff in the relationship--for both of us, I hope.

G & M at the Cabala's in Nebraska:

M: Look at what I found, a fleece jacket that says "Life is Good."

G: WTHeck. You don't need that . . . . if you get that then you have to go look at shotguns with me.

M: OK

G: Here's a nice 20 gauge. We could start bird hunting, get some exercise in the fall.

M: I like this little one. It fits better.

G: Naaaa. That's a .410. You could shoot me right in the face with that and I wouldn't even feel it.

M: You're starting to sound like a neo-con.

G: More like Dick Cheney.

M: Let's go look at the kayaks.

G: OK

She still walked out with the fleece wear.
__________________
Compounding: Never forget! Never not remember!
greg is offline   Reply With Quote
Re: Monthly spending money?
Old 12-07-2006, 03:14 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,456
Re: Monthly spending money?

Quote:
Originally Posted by REWahoo!
If your portfolio is large enough to let you do that, then you are among the fortunate ones.

We just both seem to keep it within a reasonable spending level. Been doing that for decades now, and it didn't change when we retired. Never a quibble over the personal spending, but then again neither of us ever went hog wild.

Audrey
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Re: Monthly spending money?
Old 12-07-2006, 05:58 AM   #19
Thinks s/he gets paid by the post
Outtahere's Avatar
 
Join Date: Sep 2005
Posts: 1,677
Re: Monthly spending money?

Our spending is similar to Audrey1, we spend what we need to, look for bargins and it all gets put on the CC and paid off when the bill comes in. Neither of us are spenders and if there is a big purchase to be made we talk it over and try to find the best deal. He's retired and doesn't really spend much on his hobbies, maybe things will change when I retire too.
__________________

Dogs aren't our whole lives, but they make our lives whole. - Roger Caras
Outtahere is offline   Reply With Quote
Re: Monthly spending money?
Old 12-07-2006, 07:09 AM   #20
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: 8,634
Re: Monthly spending money?

Quote:
Originally Posted by UncleHoney
Around our house there is only one checkbook, only one credit card. None of this my money, your bills stuff. It's our money and they are our bills. We each have our own savings account, but they're joint accounts with equal access. Been that way for for 34 years and it works for us.

We don't even budget for stuff and never did. If we need something we go buy it. if we want something we go buy it. Might sound like it could get out of control, but it never does. We each know what the limit of pain is on the bank account and we show a little restraint. For the most part we live way below our means and have most everything we want and need.

The nice thing about our system is we both know how to make it work and we stick with it. We each know what our financial responsibilities are and we work together to make it happen. For 34 years we have never worried where we were going to get the money to pay bills or even had an argument about money.

UH
What UH said - exactly, except we have more cards and only 23 years in.
__________________

__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff 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
Equity Is Altering Spending Habits and View of Debt Craig FIRE and Money 6 02-21-2009 01:25 PM
Lengthy ACH money transfer: necessary, obsolete or con procedure MJ Other topics 8 07-24-2006 11:15 AM
Borrowing, Spending, Counterfeiting Editorial Mountain_Mike FIRE and Money 5 08-24-2005 01:28 AM
Money market in 401K Bill FIRE and Money 2 05-31-2003 08:15 AM

 

 
All times are GMT -6. The time now is 10:51 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.