Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 10-25-2007, 09:29 AM   #101
Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
Why don't you just assign a shoe budget ? That way she still gets to shop but keeps it at a reasonable level . Shoes can be addicting now that they make them in sooo many colors and styles .Since moving to Florida I have accumulated a huge sandal collection .
Moemg 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 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!

Old 10-25-2007, 09:57 AM   #102
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
ziggy29's Avatar
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
Originally Posted by audreyh1 View Post
I don't get the "artificial scarcity" thing.

We track our spending, and I "sort" of have a budget. But it's not there for "enforcement" but rather just to see how out of range we are in a given area - mainly for spotting deviations and adjusting future expectations.

Our annual total is still well below what we can currently afford, so I don't worry about it at all - less and less as each year goes by. DH occasionally brings up a new toy he's fantasizing over and it's great to say "go for it".
This is pretty similar to our situation, though I would like to ratchet down the "discretionary" spending somewhat. Mostly I enter everything in Quicken to see where we are and how much is going to discretionary and "miscellaneous" spending. The idea isn't to enforce a strict budget per se but rather to provide a warning should we find such unnecessary spending trending up (relative to inflation) over time.

In reality, if overspending is really a serious problem, then perhaps the answer is to create a his and hers discretionary "allowance." If someone wants something that exceeds the allowance they can "carry over" part of one month's allowance to subsequent months. Personally I don't like the allowance concept because it feels like that's how you treat children with money. But if people in an overspending household -- which I define as negative cash flow after all the necessities are paid for and all long-term savings/investment goals are met, or alternatively not being able to save/invest as much as your long-term goals require -- can't ratchet back the impulse or discretionary spending to at least get to a zero-based budget (if not better), then maybe it's necessary in some cases.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
ziggy29 is offline   Reply With Quote
Old 10-25-2007, 10:26 AM   #103
gone traveling
Join Date: Nov 2005
Posts: 2,146
Funny about the budget, so many times early in our marriage raising kids and such we would have spending freezes after we spent well too much on who knows what. Kids in the house, college costs, calls from the kids at 3am from emergency rooms then the deductible bill from the broken arm or stomach ache, yes she really did go to an emergency room once for a tummy problem. But now I will not deny myself things and if I need more money I work a week or two or three or an extra month sub teaching or taking the extra coaching position for 3K.

Its all gravy now. The good thing is my wife is a fantastic cheapskate. I just love that about her.
dumpster56 is offline   Reply With Quote
Old 10-25-2007, 12:16 PM   #104
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
Originally Posted by Moemg View Post
Why don't you just assign a shoe budget ? That way she still gets to shop but keeps it at a reasonable level . Shoes can be addicting now that they make them in sooo many colors and styles .Since moving to Florida I have accumulated a huge sandal collection .
Boy howdy! You should see my collection of flip-flops...

Actually, I have three pairs of loafers - brown, burgundy, and black - and two pairs of "dress" shoes, brown and black. I expect they'll last forever, since I never wear them. And Kohl's keeps me in $25 NB, Reebok, or Nikes...
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Old 10-25-2007, 05:47 PM   #105
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: 36,763
Originally Posted by twaddle View Post
Audrey, I think you and I are probably in similar situations. ER'd. 40's. Withdrawing < 4%. Right?

So, if we were pushing right up against 4% -- right up against our "means" -- I assume you would agree that sticking to a budget becomes pretty important.

So rather than targeting a specific withdrawal rate, I prefer to target a "sane" lifestyle. I want the illusion of a steady income and a steady lifestyle.
Well, we are running even under 3%, so my anxiety about surviving 50 years is not that high.

We don't have a child - that of course is a huge difference. But we do expect that we might have to foot medical/long-term care for one or more family members at some time in the future, and I like having plenty of "excess" in our nest egg to handle that.

As time has gone on (retired > 8 years now), I have become more open to the idea of spending more, simply because "we can afford it". This means gifting more to family/charities as well as spending more on ourselves.

I suppose this contrasts directly with your philosophy of a "sane" lifestyle. We are naturally fairly frugal (although we do have expensive tastes) so I guess we simply don't "overspend" by nature.

I'm not into "shoes" or even "clothes" for that matter so I can't help you there. Once I quite working my wardrobe shrunk considerably, which is a good thing as the fulltime RV lifestyle is not compatible with a large wardrobe. Living in an RV also precludes the "accumulation of stuff" habit, but it doesn't prevent one from spending lots of money on experiences.

There are some areas where we are currently spending almost twice what we spent 2 or 3 years ago. Eating out for example. It's something we really enjoy doing together and when we find a worthy restaurant, we will happily shell out the bucks for fine cuisine. I look at our monthly expenses sometimes and think "holy cow!" at our dining out total. But then I shrug because a) we really enjoyed the experiences and b) we are still well within our total expense limits.

I guess I just have this upper annual limit that I feel we can "afford", and if we end up well under that each year (which we have), I really don't care where it goes or who spends it.

I must say that we did go through an exercise of really streamlining and prioritizing our life a few years ago - and exercise that led directly to our current fulltime RV lifestyle and getting rid of a whole lotta stuff and curing ourselves of the accumulation habit. Basically, we just make sure we spend our $$$ on what we most care about and what brings us the most satisfaction.

So at that level, we adopted some "sanity" and it was definitely a cooperative effort.

audreyh1 is offline   Reply With Quote
Old 10-29-2007, 02:11 PM   #106
Thinks s/he gets paid by the post
Milton's Avatar
Join Date: Apr 2007
Posts: 2,360
Originally Posted by audreyh1 View Post
I guess I just have this upper annual limit that I feel we can "afford", and if we end up well under that each year (which we have), I really don't care where it goes or who spends it.
Exactly right.

Originally Posted by twaddle View Post
To me, probably the most important aspect of setting a budget is just thinking about it and deciding what parameters make sense for us.
I agree, provided that the thinking and deciding is a joint process involving your wife. Certainly that would be a much more mature and useful approach than unilaterally establishing a budget and then seeking to enforce it on those who didn't 'buy in' in the first place.

Originally Posted by twaddle View Post
I get a little freaked out by the increasing number of boxes arriving at the front door. So, I see a potential trend, and I want to head it off without a major police action.
Best thing would be have an open, non-judgmental discussion with your wife. If dialogue seems impossible for some reason, probably a marriage counsellor could help.
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote

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
Budget Spreadsheet Rustic23 FIRE and Money 5 08-25-2007 11:53 AM
How about this for an airfare budget? MooreBonds FIRE and Money 22 06-29-2007 01:29 PM
2007 Budget dex FIRE and Money 3 12-15-2006 07:58 PM
I need a budget... LRAO FIRE and Money 30 11-26-2005 12:28 PM
What is the most common ER budget? RockMiner FIRE and Money 58 01-02-2005 08:19 AM

» Quick Links

All times are GMT -6. The time now is 08:14 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2023, vBulletin Solutions, Inc.