Monthly spending money?

[greg]

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 . 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.

 

[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.

 

[Martha]

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.

 

[MasterBlaster]

Martha:

You need a Flowbee or a robocut. That's a haircut device that you hook up to your vacuum cleaner.

 

[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

 

[MasterBlaster]

Flowbee Continued

Martha:

You have to be a bit careful with the Flowbee or else you'll end up looking like this...

 

[Nords]

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.

 

[sgeeeee]

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.

 

[donheff]

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.

 

[REWahoo]

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.

 

[sgeeeee]

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?

 

[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).

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

Audrey

 

[REWahoo]

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.

 

[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

 

[greg]

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.

 

[greg]

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.

 

[greg]

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.

 

[audreyh1]

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

 

[Outtahere]

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.

 

[donheff]

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.

 

[Martha]

This discussion on spending money started when Greg saw my credit card bill. I had just bought all new curtains and two new lamps for the living room, dining room and computer room. He wrote on the outside: Holy crapola Martha!

Now Greg would use old blankets or cardboard for curtains. He just doesn't spend money on "stuff."

So we have to reach some sort of agreement on what can be spent no questions asked.

 

[Nords]

Now Greg would use old blankets or cardboard for curtains. He just doesn't spend money on "stuff."

It's a guy thing. If I was in charge of our home's décor I'd still be mulling whether or not to get doors for the bathrooms.

Luckily spouse has taken over not only décor & tchotchkes but also dusting, so I don't have to sweat any of it.

 

[HFWR]

Definitely, the owner of the tchotchkes should be responsible for dusting...

 

[Martha]

It's a guy thing. If I was in charge of our home's décor I'd still be mulling whether or not to get doors for the bathrooms.

Luckily spouse has taken over not only décor & tchotchkes but also dusting, so I don't have to sweat any of it.

Yes, i remember your post where you said you would sell the tchotchkes or give them away if your wife died.

I think Mrs. Greg and Mrs. Nords go a long way in preserving the market value of their homes.

I'll be glad to dust.

I want a budget for tchotchke's, goos and salves, little gifts, and ladies lunches.

 

[sailor]

Each of us has $150 a month "personal spending money".
This is in addition to mutually agreed "discretionary spending", where for example DW has her haircut and color and massages and I have my airplane expenses. We track everything in Quicken.