What is your monthly budget?

[ABQ2015]

2013 was my first year tracking expenses and I spent $5K a month not including income taxes, other payroll deductions, and retirement savings (am not yet retired and am single). I made my final mortgage payment in January so expenses should be $4K a month in 2014. By downsizing in retirement to a home with lower utilities and less yard and doing my own housework, I'm hoping to cut my basic expenses down to $3.5K a month. I should then have about a $2K a month cushion for travel, entertainment, etc.

[foxfirev5]

DW and I spend about $4400/ month preretirement. At retirement we're planning for $5-$6000 with healthcare being the wildcard. As a plan B we have a second home we could sell which would reduce expenses by about $6000 per year. In any event I would feel better if we had it nailed down closer. But that's life.

[butterfly]

We spend between 5-6k per month. 2A2C. No mortgage. In Australia.

We plan on FIRE next year (we were planning last year but wanted to create a larger buffer in the end) and we will have around a 10k per month budget.

Our children are young and we want to travel and live in various places in the world. The COL in our home country is ridiculous.

We will also be investing a lot to have a large buffer for the children's future.

[devans0]

Presently $1800 per month for me + $1800 for DW is in our unbudgeted budget.
Thus $3600 is our spending per month. ($1800 travels much longer distances when it gets combined) Work schedules prevent us from much travel.
Our portion of healthcare insurance is included, It is partially paid by employer. Savings are not included. Since maxing Roths for both are taken out first, we spend what is left.

[explanade]

Spent $63-64k last year but almost $18k of it was from remodeling expenses.

Still working so not paying health care premiums yet.

This is in South Bay Area.

[ShokWaveRider]

$3k pm All In. No mortgage. North East Florida.

$1,400 pm is what it cost to run the house. (No food or entertainment)

[Sasset]

My current monthly expenses (not including taxes and healthcare as that comes out of current paycheck) are $3000 per month. When I retire at 55 I plan on ~$4000 from 55 to 60 when my taxes will be low and~ $5000 once I pull income from my retirment funds and will pay more in taxes. Travel and helath care are included for retirement.

[iam21177]

PS - I did not include taxes. Mine was all net income spending.

[NgineER]

Net income spending is about $3300 including mortgage, for family of five. Pre-retirement with young kids. Expenses will most likely increase substantially as kids grow up.

[obgyn65]

I no longer believe it is a good idea to give absolute numbers on this website. So let's just say my monthly budget is about average...

[Rustic23]

obgyn65, would you care to give us an idea why you believe it is not a good idea to give absolute numbers. I have met about seven people, in person, on the board. Looking at my personal data, login, and avatar, I would say there are several others that might be able to figure out who I am. But I don't see the risk. Even if my neighbors know I spend about $3,500 a month, what are they going to do with the information, and how do they know I am really telling the truth, the whole truth and nothing but the truth.

I don't mean this to put you off or upset you, I just wonder if there is a train of thought I have not followed.

[Travelwanted]

Quote:

Originally Posted by Rustic23 obgyn65, would you care to give us an idea why you believe it is not a good idea to give absolute numbers. I have met about seven people, in person, on the board. Looking at my personal data, login, and avatar, I would say there are several others that might be able to figure out who I am. But I don't see the risk. Even if my neighbors know I spend about $3,500 a month, what are they going to do with the information, and how do they know I am really telling the truth, the whole truth and nothing but the truth. I don't mean this to put you off or upset you, I just wonder if there is a train of thought I have not followed.

Can't speak for the good doc but it seems some of the folks are critical of the higher income/net worth/higher spending folks. . .note: I said SOME. By and large, this is a great site with great insight and contributors.

[obgyn65]

My perception is that most people participating on this website here seem to be good, honest, smart, kind-hearted persons. I would in fact enjoy meeting most people participating here to discuss FIRE goals. However, I also had a few very ugly PMs and been on the receiving end of pretty harsh criticisms more than once because I happen to be very conservative with my investments while being frugal. That's all I am willing to share. Are you pleased you asked ? :-) I am at home having a beer, had a long day, apologies if you thought my comment was directed at you. It was not.

Quote:

Originally Posted by Rustic23 obgyn65, would you care to give us an idea why you believe it is not a good idea to give absolute numbers. I have met about seven people, in person, on the board. Looking at my personal data, login, and avatar, I would say there are several others that might be able to figure out who I am. But I don't see the risk. Even if my neighbors know I spend about $3,500 a month, what are they going to do with the information, and how do they know I am really telling the truth, the whole truth and nothing but the truth. I don't mean this to put you off or upset you, I just wonder if there is a train of thought I have not followed.

[Rustic23]

I guess I have not seen that, but there again, I never paid much attention. I would assume, not necessarily a good idea I know, that other things is post and login names give some idea at to ones wealth. i.e. I assume Doctors make/made more than I, but not necessarily saved it. But thanks for the post, I had not thought of that.

OB, no harm no foul. I use to get pretty rapped around the axle over some of the political threads on here, but I try to ignore them now. I now try to share my limited knowledge, have a good time, and learn something every once in a while. Just wanted to make sure I had not missed anything. As far a being a conservative investor, I relate to that. I know my investments are not anywhere close to a lot of folks on here. However, it works for me, and I sleep real good every night.

[NW-Bound]

Quote:

Originally Posted by REWahoo Here's something from a few years ago: http://www.early-retirement.org/foru...oll-40239.html

I forgot that I made a post in that thread. Man, we spent a lot, and still do with the medical costs replacing the expenses for the children that have flown the coop.

[Rambler]

Hmmm. You don't even want to know for this year and last year. After that it will normalize a bit. Last year we landscaped part of the front of our two acre place. This year, we are putting in some very nice fencing on the front, a concrete driveway going halfway around the property (to be able to drive the travel trailer around instead of having to do a lot of forward-reverse action to needle it into the main drive), and probably a 40x60 shop for storage of the equipment, a couple of toys, home gym, and perhaps a small wood working area, plus an irrigation system for our back yard grass (won't plant grass until drought is over and water supplies begin to recover). So this year, we'll probably spend twice what I view as an average, normal spend for us, but I want to just get it done and over with, and I've saved the cash to do it.

R

[obgyn65]

This link may help the OP :

http://www.ssa.gov/policy/docs/chart...-aged-2010.pdf

[steelyman]

My gosh, Rambler!

You want a steel player in your driveway?

[daylatedollarshort]

Quote:

Originally Posted by obgyn65 This link may help the OP : http://www.ssa.gov/policy/docs/chart...-aged-2010.pdf

That is a great resource. We compared our budget line by line to the Consumer Expenditure Survey to figure out how to lower our annual expenses in order to semi-ER.

[jerome len]

We have more and spend more than some......we have less and spend less than others.....so, I like to see things in % of income rather than total dollars. A Doc may spend 200k a year.....own a million dollar house.......a tech may make 50k a year and own a 200k house......both should save 10 to 20% (maybe more) of their income for retirement.....the dollar numbers would be far different but the percentages similar. I've heard, many times, that anyone making over 75k a year has enough to be happy......I bet Warren Buffet or Bill Gates wouldn't think so! Everyone to their own ideas, however, the good news is I learn a lot on these posts.....save as much as most.....and respect the thoughts of people will share as well as those who don't want to. I won't share dollars spent.......just don't want to do it.