Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-25-2021, 10:23 AM   #61
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 19,541
Quote:
Originally Posted by athena53 View Post
I'm a single and spend $400/month. That excludes alcohol but includes cleaning products, etc. and dietary supplements. I'm practically a vegetarian so no crab legs or wagyu beef in there. I weigh 124 so it's not mass quantities, either. I'm sure I could whittle it down but glad I don't have to.
When I was a boy, the principal incentive I could see for becoming rich is that I would be able to buy anything I wanted in the grocery store without worrying about the price.
__________________
Living an analog life in the Digital Age.
Gumby is online now   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 Early-Retirement.org 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 01-25-2021, 10:26 AM   #62
Full time employment: Posting here.
 
Join Date: Apr 2016
Location: warren
Posts: 917
Our basic expenses are about $26K but that includes $2K for cable that we could drop at any time. Also includes Christmas and birthday presents for family. We spent about $32K last year including a new furnace, mostly due to covid keeping us from travelling much. Also caring for an aging parent so we can't go away for the winter as we'd like. My wife retired in december so we plan to get away more in the summer for short trips. We'll likely spend $45K in 2021 barring anything unforseen.
garyt is offline   Reply With Quote
Old 01-25-2021, 10:31 AM   #63
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Posts: 1,565
Quote:
Originally Posted by corn18 View Post
My real estate tax is $15k a year.
Jezz .. my cousin in Illinois pays $10,000 a year for an old 1970s house. What's your state.
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
cyber888 is offline   Reply With Quote
Old 01-25-2021, 10:39 AM   #64
Recycles dryer sheets
 
Join Date: Mar 2019
Posts: 279
Quote:
Originally Posted by athena53 View Post
Yeah, I've got "sinking funds", too. I think the low-spenders get into trouble if they have big-ticket items such as cars and houses that may need maintenance or replacement once in awhile and no resources to cover them. It always saddens me to see houses that are occupied but are falling apart- probably because the owners can't afford needed repairs.
We're "low-spenders" but I include money put into "sinking funds" as spending. I started doing that 30 years ago. I throw specific dollar amounts into into a variety of categories where spending is non-monthly, sporadic or a "surprise" every month then draw on them when that category of expense comes up. I am happy to report that both our house and our cars are in good repair despite being "low-spenders" because of that. We've always saved for a rainy day.
jldavid47 is online now   Reply With Quote
Old 01-25-2021, 10:40 AM   #65
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
calmloki's Avatar
 
Join Date: Jan 2007
Location: Independence
Posts: 6,917
Quote:
Originally Posted by dunkelblau View Post
Our grocery spend has been less than $200 per month for two adults, not that I'm on a budget, I know because I pay cash and monitor my ATM withdrawals for accuracy.

These days I try to minimize my trips to stay as safe as I can, so I now alternate between Aldi and 99c Stores. In my experience both offer a wide variety at favorable prices even though the major chains may win on one or two loss leaders. By contrast a shop at places like Bristol Farms or Mollie Stone's would run several times the cost, albeit you would be getting premium organics instead of just the basics.

A few years ago my brother told me that his family's grocery spend (two adults and one child) is well over 10x ours, and I know they're not foodies and they don't drink alcohol, so it really depends on where you shop.

Even though I don't aim for sales, I usually know a good deal when I see one, for example: https://imgur.com/a/Z3spZy9
Oh man! if you still happen to have any of that ham left in your freezer this is a killer cold wet weather recipe:

https://www.allrecipes.com/recipe/22...d=cardslot%203

Been wanting to make it again but used up the ham we had already.
__________________
"Be kind whenever possible. It is always possible." Dalai Lama
calmloki is offline   Reply With Quote
Old 01-25-2021, 10:41 AM   #66
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Posts: 1,565
This all depends if you have kids, grandkids to support or help.

We live well below $57K including health insurance and budget for yearly travel to Europe for 7 - 10 days ($7,000-$8,000 per year), but that's just DW and myself (2 persons). Without the European travel, we can live below $50K.

I guess if you have dependents or give money to your kid or grandkid, budget could go to $100K - $120K.
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
cyber888 is offline   Reply With Quote
Old 01-25-2021, 10:41 AM   #67
Recycles dryer sheets
 
Join Date: Mar 2019
Posts: 279
Quote:
Originally Posted by armor99 View Post
I think it is also personality type. Some people view it as some sort of wierd game of “how cheap can I be”?
Excuse me. I'm not cheap. I'm frugal.
jldavid47 is online now   Reply With Quote
Old 01-25-2021, 10:45 AM   #68
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Nemo2's Avatar
 
Join Date: May 2011
Posts: 8,368
Quote:
Originally Posted by jldavid47 View Post
Excuse me. I'm not cheap. I'm frugal.
And we....are...abstemious.
__________________
"Exit, pursued by a bear."

The Winter's Tale, William Shakespeare
Nemo2 is offline   Reply With Quote
Old 01-25-2021, 10:55 AM   #69
Full time employment: Posting here.
 
Join Date: Mar 2014
Location: Dallas
Posts: 966
Quote:
Originally Posted by mckittri2000 View Post
It all depends on where you live. We live out in the county where the property taxes are low ($800/yr on a $200K house). Our house and cars are paid off and we take 2 modest vacations a year. Our annual budget including health and dental care is between 30-35K. We live very comfortably.
I was going to say this. Lot of people living in big cities need significant more money for the living expenses. This is the primary reason we are moving to the fringes of the suburbs of a metropolis. I wish we could have moved further out but I don't want to move too far away from friends and the hospitals.


Several other factors results in a logarithmic decline in expenses after a certain point: Healthcare subsidies, low/no income tax, no tax on SS, may get other low-income benefits depending on the state, etc. It really "pays" to stay in the lower expense band after a point.
pjigar is offline   Reply With Quote
Old 01-25-2021, 10:55 AM   #70
Recycles dryer sheets
 
Join Date: May 2017
Posts: 88
I retired 4 years ago at 51. My average yearly spending since retirement has been 14k including taxes which are $0. I rent in a big city. I'm not a cord cutter, I have Directv.
Digger1000 is offline   Reply With Quote
Old 01-25-2021, 11:01 AM   #71
Full time employment: Posting here.
 
Join Date: Apr 2005
Posts: 772
Interesting thread.

Lacking other viable choices as too-early retirees from the corporate world we've long lived on between 24-40K a year all-in. At the lower end of that scale are ~5 years in Mexico (pre-ACA/Obamacare) where 2K a month went very far indeed (not so much so anymore in popular expat havens there due to folks fleeing the U.S.).

The key differences for us vs. most who've posted here are radically lower housing, car and health care/insurance costs. Living solely off of investments until taking early SS a little while ago it's been pretty easy to keep our MAGI in the 23-30K a year range, meaning ACA silver premiums for us (married filing jointly) have been less than $125 a month total for years. Preparing for a sizable INCREASE in expenses when I go on Medicare next year.

One car, a 9 year old Mazda 2 we paid less than 9K in cash for (used, low-mileage, 1 owner) and finally dropped collision coverage on. Cheap to run, reliable, fun to drive.

40K tied up in a thoroughly updated (pergo floors, newer applicances) mobile home with great views in a 55K park with hiking trails out our front door in Tucson. Space rent including some utilities is $500 a month. Property taxes a whopping ~$150 a year.

These low baseline expenses allow us to spend pretty freely on food and drink, especially with Trader Joe's and Costco close by (wouldn't live anywhere in the U.S. without 'em). Socking away money to buy a condo or small house eventually if we decide owning real property again is worth it. Our current ~40K spending includes renting a casita or cabin at high altitude in New Mexico or Colorado for three months to escape the summer heat here, at $1500-2000 a month.

Agree wholeheartedly with others who point out the huge differences between costs in "flyover" states like ours vs. the coasts. We visit family in coastal CA and WA most summers and baseline grocery prices for produce and staples start at 30-40% over what we pay here.
kevink is offline   Reply With Quote
Old 01-25-2021, 11:03 AM   #72
Full time employment: Posting here.
 
Join Date: Mar 2014
Location: Dallas
Posts: 966
Quote:
Originally Posted by corn18 View Post
My real estate tax is $15k a year.
Our property tax has touched $12K this year. One of the reason I planned a move to a large (to me) country property with a half the size of the house. Property tax is going to be $3K in the new place. House hack if can call that: We realized that lot of the space in our current huge house was not even used which we pay tax and utility for. So we built a small dwelling on a large land, plan to build a huge "shop" with play/storage areas and the empty land has use-based agricultural valuation which has close to zero property tax.
pjigar is offline   Reply With Quote
Old 01-25-2021, 11:06 AM   #73
Recycles dryer sheets
 
Join Date: May 2017
Posts: 88
Quote:
Originally Posted by Blue531 View Post
I lived on about 13K in 2020. That includes EVERY expense, everything I paid to live during the year. I keep a record book monthly of where all my money goes as I have for years. I live in a very low cost area compared to most places. Also, when I was working all these years, I never made more than 40k. My average salary over 39 years of working was probably less than 30k. When I was working, my expenses were usually around 17k or 18k. I always lived within my means. I Really didn't start investing seriously until 22 years ago. Single and managed to attain financial freedom even on my relatively low income. I live in a very inexpensive home that is paid for and have two used cars, one that is 26 years old and one that is 17. Taxes and insurance on a cheaper home and cars is lower.
You and I are a lot alike. I never made 30k a year until I was 41. I retired at 51. Made in the upper 40's the last 5 years before retirement.
Digger1000 is offline   Reply With Quote
Old 01-25-2021, 11:09 AM   #74
Recycles dryer sheets
 
Join Date: May 2017
Posts: 88
Quote:
Originally Posted by jim584672 View Post
No one who is cheap will be going to a restaurant in the first place, unless it is for a dollar Whopper or something.
I've had food from a restaurant once in the last 3 years. I spent $3 for 3 burgers to go at Burger King in 2019 when I was travelling out of state.

I usually spend under $50 every 2 weeks when I do my grocery shopping which I always do at Aldi.
Digger1000 is offline   Reply With Quote
Old 01-25-2021, 11:32 AM   #75
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 14,868
Quote:
Originally Posted by Gumby View Post
When I started this life, I lived in a council flat (for Americans, public housing) in the slums of London, the bastard son of an uneducated, teenaged Cockney mother. Things did not get substantially better when we emigrated to the USA and lived in a series of cheap apartments and trailer parks. I often cannot believe how fortunate I have been in my adult life. If my mother were still here, she probably would be appalled at my spendthrift ways.
You mom must have worked hard and done her best. You are proof of that.
__________________
The worst decisions are usually made in times of anger and impatience.

Self proclaimed President for Life of Outliers United.
Chuckanut is offline   Reply With Quote
Old 01-25-2021, 11:47 AM   #76
Recycles dryer sheets
 
Join Date: Mar 2018
Posts: 330
Quote:
Originally Posted by Dtail View Post
Not me, but there are enough folks on this site who live on less than 60k.
Hopefully you get some responses.
Some might make less than 60k a year, LBYM
ransil is offline   Reply With Quote
Old 01-25-2021, 11:48 AM   #77
Thinks s/he gets paid by the post
 
Join Date: Jul 2007
Location: St. Louis
Posts: 1,555
We lived on 22k in 2020. Not hard to do in the middle of the US.
FANOFJESUS is offline   Reply With Quote
Old 01-25-2021, 12:08 PM   #78
Full time employment: Posting here.
 
Join Date: May 2007
Posts: 978
We lived on 26k in 2020 including taxes. Spent an average of 271/mo for food.
We live in the PNW. We own our house. Both vehicles are paid off.
Spent about 10k less than last year.
homestead is offline   Reply With Quote
Old 01-25-2021, 12:09 PM   #79
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,396
Quote:
Originally Posted by Hjack View Post
We also have a 2018 Audi Q3. Loaded again. Low miles yet we have traveled to every state east of the Mississippi, to Maine, to Florida a dozen times or more. I owe $19,000 on it. At 1.9 interest rate.
We have no consumer debt.
I guess we define "consumer debt" differently, I think taking out a loan to buy a car counts.
JustCurious is offline   Reply With Quote
Old 01-25-2021, 12:31 PM   #80
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Posts: 2,755
Our budget for essential items with one paid off home would be under 50k. This includes household expenses, utilities, food, property taxes, medicare Part G, insurance on two cars and a little cushion. Add in the lake house, boats, travel etc and we're at 75k+. I'm grateful to have the option. In 2020 we were a lot closer to the 50k figure, with no real sacrifices.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
foxfirev5 is offline   Reply With Quote
Reply


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
Blood test : Calcium low, Vitamin D Low, Sodium low Lakewood90712 Health and Early Retirement 16 05-15-2016 05:07 PM
Low cost of living town with low humidity? FANOFJESUS FIRE and Money 111 09-01-2008 03:59 PM
glut of liquidity. low cost of capital. low yields perinova FIRE and Money 3 01-10-2007 05:40 PM
You Can If You Think You Can Eagle43 Other topics 0 02-21-2006 02:39 PM
Warm,Low cost of living,No/Low taxes, inexpensive golf & water sports JohnnieRed Life after FIRE 60 01-16-2006 10:54 AM

» Quick Links

 
All times are GMT -6. The time now is 07:11 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.