Dtail
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Different strokes....
We just try to keep to the yearly budget and all spending falls in place afterwards.
How low can you go?
- Thread starter anothercog
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Different strokes....
We just try to keep to the yearly budget and all spending falls in place afterwards.
Yeah, I'm not a minimalist myself, I just don't buy a lot of crap and am not wasteful. I have a very high savings rate by keeping my expenses very low. Once I retire, I'll have a lot more free time to spend money, but maybe I can pick up a low cost hobby like pickleball.
There is a big difference between being a minimalist and someone who just hates spending money and sacrifices time and energy for no financially needed reason. Like I said, whatever makes you happy.
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Frugality, keeping a small environmental footprint, saving money - any way you slice it, that doesn't make someone "obsessive" as you had put it earlier. Maybe you are trying to rationalize unnecessary spending and being a big consumsucka, not sure. But I was just pointing out your misinterpretation of other people's values as being obsessive.
Dtail
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Yeah, I'm not a minimalist myself, I just don't buy a lot of crap and am not wasteful. I have a very high savings rate by keeping my expenses very low. Once I retire, I'll have a lot more free time to spend money, but maybe I can pick up a low cost hobby like pickleball.
Pickleball - now you are talking.... give it a try.
Surewhitey
Thinks s/he gets paid by the post
Just reviewed our lock down year & found that our (2 peeps) actual spending is $43k from the last 12 months. We were on the road for 4 weeks in 5 different trips plus a couple of weekends. This has given us a good baseline of our low comfort zone...
Music Lover
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Some people take it too far and thrive on depriving themselves but there is a middle ground. What if you only earn $40k but can live like someone earning $80k due to smart choices?
You can extrapolate it further. What if you earn $100k but can live like someone earning $200k?
There are dozens/hundreds of decisions and choices one can make to get the best value for their money. I don't want to not spend...I want to get the most for my money.
SmallCityDave
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Great point! Living close to the water or flyover country can be huge, a simple top freezer refrigerator or the one with french doors with a built-in tv, Camry or Lexus.
Here is my $60K budget....no roommates or ramen here.
| HOUSEHOLD | MONTHLY | ANNUALLY |
| RENT/MORTGAGE | $1,825 | $21,900 |
| INSURANCE (RENT/HOMEOWNERS) | $32 | $384 |
| HOME SUPPLIES | $100 | $1,200 |
| INTERNET | $45 | $540 |
| MOBILE PHONE | $75 | $900 |
| UTILITIES | $140 | $1,680 |
| TOTAL HOUSEHOLD | $2,217 | $26,604 |
| -- | ||
| FOOD | MONTHLY | ANNUALLY |
| GROCERIES | $500 | $6,000 |
| EATING OUT | $300 | $3,600 |
| COFFEE SHOP | $45 | $540 |
| ALCOHOL | $45 | $540 |
| TOTAL FOOD | $890 | $10,680 |
| -- | ||
| TRANSPORTATION | MONTHLY | ANNUALLY |
| CAR INSURANCE | $130 | $1,560 |
| GAS | $170 | $2,040 |
| MAINTENANCE | $50 | $600 |
| MISC (PARK/TOLL/TAX) | $25 | $300 |
| PUBLIC TRANSIT | $5 | $60 |
| TOTAL TRANSPORTATION | $380 | $4,560 |
| -- | ||
| PERSONAL CARE | MONTHLY | ANNUALLY |
| HEALTH & FITNESS(INS/DOC/PHARM/EYE) | $300 | $3,600 |
| LIFE INSURANCE | $33 | $396 |
| HAIRCUT / SALON | $25 | $300 |
| SHOPPING (HOBBIES/ELEC/CLOTHING/TOILETRIES) | $220 | $2,640 |
| GIFTS | $80 | $960 |
| $0 | $0 | |
| TOTAL PERSONAL CARE | $658 | $7,896 |
| -- | ||
| ENTERTAINMENT & TRAVEL (VACATIONS) | MONTHLY | ANNUALLY |
| AIRFARE | $500 | $6,000 |
| HOTEL / AIRBNB | $125 | $1,500 |
| RENTAL CAR | $50 | $600 |
| ENTERTAINMENT (MOVIES/MUSIC/MAG) | $43 | $516 |
| BOAT | $0 | $0 |
| NETFLIX/MOVIES | $0 | $0 |
| TOTAL ENT & TRAVEL | $718 | $8,616 |
| -- | ||
| SERVICES | MONTHLY | ANNUALLY |
| FINANCIAL | $60.0 | $720.0 |
| LEGAL | $0.0 | $0.0 |
| TOTAL SERVICES | $60.0 | $720.0 |
| -- | ||
| TOTAL EXPENSES | $4,923 | $59,076 |
SmallCityDave
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I'm in the United States now due to work requirements; however, we will move to our house (already paid off) in Portugal for retirement. The PT budget is only $40K annually for my wife and I. Again, no roommates or ramen....but rather a stones throw from the beach and fresh seafood for dinner regularly!
| HOUSEHOLD | MONTHLY | ANNUALLY |
| MORTGAGE/PROPERTY TAX | $32 | $384 |
| INSURANCE (RENT/HOMEOWNERS) | $30 | $360 |
| MAINTENANCE | $100 | $1,200 |
| HOME SUPPLIES | $75 | $900 |
| CABLE/INTERNET | $50 | $600 |
| CELL PHONE | $50 | $600 |
| UTILITIES | $87 | $1,044 |
| TOTAL HOUSEHOLD | $424 | $5,088 |
| -- | ||
| FOOD | MONTHLY | ANNUALLY |
| GROCERIES | $400 | $4,800 |
| EATING OUT | $296 | $3,552 |
| COFFEE SHOP | $45 | $540 |
| ALCOHOL | $45 | $540 |
| TOTAL FOOD | $786 | $9,432 |
| -- | ||
| TRANSPORTATION | MONTHLY | ANNUALLY |
| CAR INSURANCE | $36 | $432 |
| GAS | $150 | $1,800 |
| MAINTENANCE | $50 | $600 |
| PARKING/TOLLS/TICKETS | $50 | $600 |
| VEHICLE REGISTRATION/ROAD TAX | $10 | $120 |
| PUBLIC TRANSIT | $0 | $0 |
| FINANCIAL SERVICES (US and PT) | $70 | $840 |
| TOTAL TRANSPORTATION | $366 | $4,392 |
| -- | ||
| PERSONAL CARE | MONTHLY | ANNUALLY |
| HEALTH INSURANCE | $240 | $2,880 |
| PHARMACY | $25 | $300 |
| CLOTHING | $100 | $1,200 |
| HAIRCUT / SALON | $25 | $300 |
| GYM MEMBERSHIPS | $0 | $0 |
| TOILETRIES | $50 | $600 |
| GIFTS | $0 | $0 |
| TOTAL PERSONAL CARE | $440 | $5,280 |
| -- | ||
| ENTERTAINMENT & TRAVEL (VACATIONS) | MONTHLY | ANNUALLY |
| AIRFARE | $650 | $7,800 |
| HOTEL / AIRBNB | $180 | $2,160 |
| TAXI / UBER | $50 | $600 |
| THEATRE | $34 | $408 |
| MISC FAMILY ACTIVITY | $200 | $2,400 |
| SPOTIFY | $0 | $0 |
| NETFLIX/MOVIES | $0 | $0 |
| TOTAL ENT & TRAVEL | $1,114 | $13,368 |
| -- | ||
| INCOME TAX | MONTHLY | ANNUALLY |
| US INCOME TAXES | $250.0 | $3,000.0 |
| PT INCOME TAXES | $0.0 | $0.0 |
| TOTAL Taxes | $250.0 | $3,000.0 |
| -- | ||
| TOTAL EXPENSES | $3,380 | $40,560 |
I'm not retired yet, my income is well north of the $60K budget and I simply listed our current budget excluding income tax/FICA/medicare....there is no way around paying them, so I don't "budget" for it. In retirement my W2 income stops, FICA/Medicare taxes go to zero and my income tax goes down significantly as well. While it doesn't work for everyone, we plan to move to Portugal (see post above) and will fall under the Non-Habitual Residents (NHR) visa which allows us to live nearly tax-free for a 10-year period. I did include all the taxes we will have to pay in retirement in the Portugal Budget above. Notice that my property taxes on a beach house are only $384 annually. I don't think most Americans realize how expensive (insane) property taxes in the U.S. have become. It is a bit like a frog in a boiling pot...the GOV has turned up the heat slowly over a number of years and people didn't seem to notice.
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lauradrops
Recycles dryer sheets
We were under 40K this year for sure, but no longer keep track. Both early retired with a highschool kid and not much going on due to covid. Too young to draw from retirement accounts, so using savings along with small pension (6000 per year), RMD from small inherited IRA (4200 this year) and small 72T (7000 per year) we were forced to take to qualify for a small mortgage in 2013. Total is 17,200 and the rest from savings was around 16-17k.
Mortgage - 0
Property tax - 8800
Ins. (home,auto & umbrella) - 2294
Int,cable&phone - 1165
Cell - 2760 (we let my 2 adult sons stay on)
utilities - 2064
groceries & eating out - 10,000
auto gas and maintenance - 900
Health ins, dental & vision - 0 (husband retired from verizon with it)
Prescriptions and copays - 800
Life ins. - 0 (husband retired with it and none for me)
Hair services - 0 ( I am a retired hairstylist)
shopping (clothes and such) - 2400
Entertainment - no budget, but normally anywhere from 2000 - 8000
(very little this year due to covid maybe around 1000)
Total is 32,183 here, but another 1500 or so was spent on my princess to keep her busy at home with covid. (new bicycle, video games, art supplies and such)
Our AGI for 2020 was 0, so no taxes. One of the perks of using savings.
Already planning a long awaited trip for summer and keeping our fingers crossed it all works out.
We don't deprive ourselves of anything, but we also feel no need show our financial situation off. Happy with a 1200 sf home in a nice Long Island town, 2017 Sonata sport and shopping at stores like Kohls.
Mortgage - 0
Property tax - 8800
Ins. (home,auto & umbrella) - 2294
Int,cable&phone - 1165
Cell - 2760 (we let my 2 adult sons stay on)
utilities - 2064
groceries & eating out - 10,000
auto gas and maintenance - 900
Health ins, dental & vision - 0 (husband retired from verizon with it)
Prescriptions and copays - 800
Life ins. - 0 (husband retired with it and none for me)
Hair services - 0 ( I am a retired hairstylist)
shopping (clothes and such) - 2400
Entertainment - no budget, but normally anywhere from 2000 - 8000
(very little this year due to covid maybe around 1000)
Total is 32,183 here, but another 1500 or so was spent on my princess to keep her busy at home with covid. (new bicycle, video games, art supplies and such)
Our AGI for 2020 was 0, so no taxes. One of the perks of using savings.
Already planning a long awaited trip for summer and keeping our fingers crossed it all works out.
We don't deprive ourselves of anything, but we also feel no need show our financial situation off. Happy with a 1200 sf home in a nice Long Island town, 2017 Sonata sport and shopping at stores like Kohls.
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RetiredAndLovingIt
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Your phone service seems a little high, many on here pay a lot less if you go with a prepaid MVNO. I only pay $5 for mine, unlimited texts and 500MB of data and PAYG for call at a penny a minute. You may even quality for a free phone and call allowance from the state or government if you want to go that route. I think it's called Lifeline service and it's based on income, you get free phones and monthly call, text and date allowance.
https://www.entouchwireless.com/states/ohio-lifeline-free-phone-service. I'm pretty sure you would quaiify.
anothercog
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What do you spend for phone and internet?
anothercog
Recycles dryer sheets
This is awesome. How is your Portuguese?
SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
In the last 12 months (2/26/20 through 2/25/21):
My cell phone usage was $386.44 using 4G LTE prepaid with Page Plus Cellular, which is a Verizon MVNO. I generally buy 2000 minutes at a time at a cost of $82.80. I've also spent $3.17 on SIM cards and $190.79 twice for a new Samsung Galaxy A11. The "twice" part was my fault - I left my first one in a rental car on vacation so had to buy a replacement. The first one was because Page Plus is shifting to 4G LTE. My previous phone was an Iphone 4.
Internet was $763.54 with Sparklight (formerly Cable One). I had a $55 a month plan but was going over on data, so I upped it to the $65 plan a few months ago because that's more efficient. I get 200MB download speed - which I just measured at 109MB but that's over WiFi - and 700GB of data monthly. I've owned my modem for several years now.
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wrigley
Full time employment: Posting here.
Neither my wife or I speak any Portuguese beyond basics (please, thank you, etc...). However, English gets you by just fine in Portugal because of the long relationship between Portugal and UK. The Brits have been going to Portugal on vacation for many, many years and as a result, most Portuguese speak fluent English.
GTFan
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Sounds about right here in the ATL burbs - if you own everything living is cheap, and we can easily live on $1k-1500 a month with taxes and maint. included. The ACA also makes health insurance close to free. Don't have to drive new cars, don't drive much.
Monthly costs -
Utilities incl. cable: $350 average
Property tax: $150
Home/auto/umbrella insurance: $200 (two cars)
Maint. allowance (house/cars): $150 - probably less than this over the 26 years we've lived in current house
Health insurance: $50 average incl. OOP costs
Dental: $50 for routine stuff
GA income tax ($0 fed): $50
So $1k fixed cost, add another $250 or so for food/gas etc. and it's about $15k/yr. on average here. Many months are less than $1k OOP.
This doesn't include the occasional vacation, but there's no real budget because it varies depending on mood and destination. The above figures are just to keep living in current place.
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