How much did you SPEND in 2005?

MRGALT2U said:

When I am traveling by myself, I could hit $4.11 a day easily, but that
would likely exclude booze.

JG

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Without even trying, I could manage on under $4.11 a week.  Go ahead, beat that.

HaHa said:

Damn Peter, do you eat your relationship?

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No comment.

OK, this is more of an expense sheet than a budget. By the way, if you are spending over half of your "budget" on "Relationships" I would consider that more of an addiction than a relationship. Yup, I remember when I used to spend money on those kind of addictions. It was fun, I'll admit.

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As far as my relationships go...a big part of that was due to a long-distance relationship I had going on during last year. My current gf lives in-town, so the airfares are non-existant. Also, I had a car accident (backed out of the garage one morning before the garage door opener opened all the way up) on my way to meet an out-of-town potential gf, so I expensed that $1,000 cost to my "relationships" category.

For food, I mentioned that my parents share the roof w/ me for a few months out of the year, so they provide some of the food - but I have very simple needs when it comes to food (combination of healthy eating and extremely good buying habits....)

My budget for "Relationships" this year is about $7,000, which includes line items for two $750 (each) trips that I probably won't end up taking, as well as several nights out each month (her work schedule is jacked up, so it's not like we can always hang out late any night we feel like it). She is actually just a bit more of a tightwad fiscal conservative than I am (which I never thought possible in all of my 29 years of knowing everything), so that $7,000 budget will probably end up being a little of an over-estimate...although I do have $7,500 budgeted beyond that for an engagement ring, so we'll see how things go this year.

--Peter

Hell, My dog, has to have more than 16,800, to live on! Not really, But, I did spend over $5,000 last year to keep her around, for a few more years.

I figure, I spent $45,000-50,000, last year. That's for everything. One woman, one dog and don't owe anybody Jack ----, except for the mortgage.

$4.00 a day, give or take. You must be outta your mind. No way, can a human bean live on that and call it a life. I spend $500 on haircuts (per year)and I go to a blind barber.

To spend 16,000, you must live in a cave, eat froot loops, raid dumpsters and depend on the Salvation Army to throw over a bag of dried rice and beans, bi-weekly. Now, my wife is not the adventursome type, by nature--But, she might just jump on this little trick, to save a buck.

unclemick2 said:

. . .Goat poop or pee pee haven't a chance.

heh heh heh

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retire@40 said:

Without even trying, I could manage on under $4.11 a week. Go ahead, beat that.

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No - can't beat that at all. My lunch alone is over $6 per day.

Spanky said:

No - can't beat that at all. My lunch alone is over $6 per day.

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Geez, Spanky, you're dreaming of ER while you're spending over $1000/year just to eat LUNCH?!?

I'm surprised that the board's software let you register. In fact I'm surprised Dory hasn't deleted your account yet!

retire@40 said:

Without even trying, I could manage on under $4.11 a week.  Go ahead, beat that.

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Ok, prove it. 8)
How does one live on $4.11 a week? I would love to know how it can be done even for a homeless street person.

Excluding income taxes and health insurance (withheld from our pensions) and also excluding support for our daughter while she was getting more schooling and also excluding one time expenses of moving into and furnishing our new house ... Quicken says the 2005 total was $54,975. The actual total including everything was approximately $105,000. My total investment portfolio finished the year at almost the exact level it started at (not bad with large withdrawals in a flat year for the market). I expect that our ongoing spending will be close to that $55K level adjusted for inflation. Fortunately, our combined pension take-home plus dividends from our individual stocks are almost that much. Now that the major new home costs are behind us I will probably loosen the reins a little and we will do some travelling that we postponed this year.

Some category totals were:

Auto $6836
Cash 2800
Clothing 2670 (95% was DW's)
Dining 2820
Gifts 2606
Groceries 9127 (gotta do something about that one!)
HOA Fees 2000
Houshold 5393
Insurance 2341
Medical 3738
Property tax 3257
Utilities 5772
Travel 689


Grumpy

SteveR said:

Ok, prove it.  8)
How does one live on $4.11 a week?  I would love to know how it can be done even for a homeless street person.

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It just takes brainpower and willpower.

I got by on about $100 per week pocket money in 2005. DW provided housing, cars, entertainment, vacations, etc., and took care of all those boring utility and credit card bills. Bless her heart. She sure helps me keep my expenditures down!

retire@40 said:

It just takes brainpower and willpower.

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The challenge still stands.... 8)

Hmmm. Maybe I don't belong here. I spent about $72k last year.

retire@40 said:

It just takes brainpower and willpower.

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Funny... I presume you're secretly using an unmentioned spouses income?

family of 3 living in NY, spent 30k.

BUT WE SAVED 70k!!!!

WOOHOO!!!!!!

I'm not worthy.....

Spent $44K for a man, woman, 9 year old boy and a beagle....no debt or mortgage. The good news was we saved almost as much as we spent.

We should really get that spending number down to $25K.

About $51k for an empty nester couple.

But still includes $6-7/day for lunches while I am still working. DW also eats lunch out 3-4 times a week. That plus more control on dining out at about $100/wk is where we need to cut back.

Are people including taxes in their spending?

If so we spent a little under $100K last year including 10 days in Hawaii and some work in the condo which throws the numbers off.

If we don't include taxes then we spent about $45K. It was a good year for saving though

We had an unusually expensive year...spent ~$70k including payroll taxes for 2, maxing my 401k and DH's pension plan (our Roths are funded by recycling taxable cash), vacation in Italy, early expenses for daughter's wedding, new comfortable seating in the den, new computer when I retired and had to return my company-provided PC.

2006 should cost at least $20k less...DH is still working but I'm retired (so no 401k and less payroll taxes), no major travel planned, but we do have the rest of DD's wedding expenses.

While on the Boat till May 2005

$1000 per month all in food, entertainment, the odd docking fee, buoys and immigration check in charges
$300 per month fuel
$100 per month emergency health care coverage

= 4 x $1400 = $5600 all up.

From June to December

$404 Car insurance
$700 Emergency health Care coverage
$67 Car licence
$579 Car repairs (Some Southern Baba clipped my fron fender and ran!)
$800 Gasoline (Day to Day)
$1000 estimated entertainment
$3500 Groceries and wine
$5600 Rent (Includes Cable, Internet + all Utilities)
$500 Vacation Gasoline
$150 drugs
$210 Phone (Vonage)
$100 (Cell)

Total = $22,700 so add $2300 for a fudge factor and there you have it.

Grand Total: $25,000

Total Income From investments was about $75k Taxes not paid yet. About $25k income working on the side. So income was about $100. Have not calculated taxes yet but will definately get the ungreased Baseball bat from the IRS/Canadian Inland Revenue this year.

SWR

NORDS! What are your costs over there in Paradise?

SWR

Ran about 65k in the northeast for a family of 4.

Round numbers:

6k Automobiles (2)
12k Groceries
20k Housing (mortgage payments and improvements)
10k Insurance (Auto, home, health, life, dental)
7k Leisure (vacation, sporting goods/events, toys)
5k Utilities
5k Misc

With 2 boys I spend more a month on food than some spend all year (no bell pepers ... they don't come in 6 oz packages).

Enjoy!

astromeria said:

spent ~$70k including payroll taxes for 2, maxing my 401k and DH's pension plan (our Roths are funded by recycling taxable cash)

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d'oh! Shouldn't've included retirement savings as expense. Guess we spent ~$45k including taxes. Ahhhh, now I feel virtuous 

ShokWaveRider said:

NORDS! What are your costs over there in Paradise?

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Eh, for that I'd actually have to run our budget numbers, and this thread came up about a month before I usually get around to it.

Well, here they are, subject to spouse audit:
500 Kid's Allowance
2750 Kid's school (mostly Kumon & Washington, DC trip)
1150 Kid's sports (mostly tae kwon do)
100 Kid's toys
200 Adult clothing (including uniforms)
450 Kid's clothing (growth spurts)
1000 Computer (includes the new box & monthly DSL)
1500 Dining
200 Entertainment (mostly movies & ice cream)
325 Surfing (used epoxy board!)
2000 tae kwon do (a year's tuition plus uniforms, tests, & tournaments)
200 Gifts given
6000 Groceries
125 Aquarium (Where the heck?!? Oh, yeah, all the new fish. Oops.)
1100 Furniture (mostly kid's bedroom, some adult)
100 Linens (kid's bedroom)
170 Pets (bunny food & vet bills, maybe for five more years)
100 Tchotchkes
7800 Home Improvement (solar equipment)
775 Car insurance
900 Home insurance
600 Personal property & liability insurance
250 Investment expenses (books, magazines, ER board's server fund)
8000 IRAs
750 Medical & dental (mostly TRICARE premiums)
18800 Mortgage interest
4300 Mortgage principal
3200 Refinancing costs
6000 Federal taxes
3800 Property taxes
1100 Gas
650 Car repairs & service
750 Electricity
300 HOA dues
325 Phone
425 CATV, although this should probably be entertainment
800 Water & sewer
5600 Vacations

$83,095.

Clearly this can't go on forever. We expect that a number of these are one-time or capital expenses.

The home-improvement costs are $7000 of photovoltaic panels and another $800 of wiring & solar-water heating materials. (We'll get about 40% of that back in federal/state tax credits, the rest is a multi-year payback.) Federal taxes include the cost of the Roth IRA conversions, which should go on for another six or seven years. 2006 home improvement costs should be under $1000, back in line with history. We're also carrying forward considerable state solar-energy tax credits, so our only state-tax "burden" until at least 2010 is property taxes. Hopefully property taxes are "only" going to rise another 25% this year.

We're carrying the mortgage for retirement-portfolio arbitrage, the subject of a whole 'nother thread, so that's $23K "extra". Our refinancing costs are a capital expense for the lowest interest rates in 40 years (and this time we really mean it). And of course the IRAs are just a transfer of taxable investments to tax-free Roths via my spouse's part-time salary.

Backing out $7K of home improvement, the mortgage, the refi, and the IRAs pulls out $41,300 and brings us down to $41,795. The electric bill will drop to under $200 this year and other categories will rise & fall (furniture, computer) but we're usually around $45K. My $35K pension is covering the basics and spouse's $15K part-time check covered some of the extras. And like other ERs we have a lot of room for belt-tightening.

I'm amazed that I'm spending $2000/year to get my butt kicked. That's going to go on for another two years (or however long it takes to reach black belt). At least I'm getting plenty of pain for my investment!

$6000 for groceries-- you read that right-- welcome to paradise. Some of that is kid convenience food and feeding the neighbor's kids, but I suspect that's offset by growing a lot of our own fruit & tomatoes. The kid eats like a horse, though, so I think that we could get two adults down to under $3500.

Note that the kid-related costs are at least $5K/year, and that doesn't even include groceries. We paid for the braces up front two years ago and she has pretty low medical expenses. Four more years to college!

Nords said:

Eh, for that I'd actually have to run our budget numbers, and this thread came up about a month before I usually get around to

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Nords:  I saw nothing on your recurring costs,
Property Tax, Car Ins., Utilities, grocerys, Ho's ins. blah, blah, blah, that make living in Hawaii any more expensive than most areas in the U.S.

As a matter of fact, your property tax, versus the valuation of property is a downright bargain, versus most areas on the Eastern Sea-Board.  Your utilitiy costs are comparatively non-existant.  (No surprise).

When it comes right down to it, wouldn't you agree that it is the initial cost of housing that scares most folks?

Anyway, INMHO, I think that early retirees would be best served, because of the considerable amount of time they will be in that condition, is to "Match the Hatch", and find a spot that allows them to do on a daily basis the things they have aspired to do when they were up to their ass in alligators, and planning a bail-out.

Hawaii wouldn't work for me, as the Sierras wouldn't work for you. (But we're both comfortable with our choices.)

Comparing costs, are pretty much illusionary, as
every area is going to get a "pound or two of flesh", one way or the other.

Jarhead, who agrees with ReWahoo, that Texas is the best college football team in the country.

Ho's insurance...

Now there's an expense I hadn't yet considered...