How low can you go?

[FANOFJESUS]

I pay $695 a month in rent. So that means I spent $405 a month on everything else. I am not a cord cutter, I have DTV. I need to watch my 7 CFB games at once all day every Saturday during the fall.

My $13,205.94 in total spending last year includes everything in life.

$0 federal income taxes
$0 state income taxes
$0 health insurance premiums(8k deductible)

As far as the 8k deductible goes. 2 of the last 3 years I have spent $13,205.94 or less on everything in life. However in 2019 I developed a hernia and had surgery. So my spending that year was $15,600. I drove 365 miles one way to have surgery and the total cost of the surgery/trip including motel,gas, and $80 in tolls was $2500. That was 1/3 to 1/4 the cost of having it down here.

That is amazing. If you don't mind me asking what state are you in? Could you spend more if you wanted to?

 

[NW-Bound]

I have a 15 year old what feels like a 40 pound Hoover vacuum. It is near impossible to order vacuum bags. The vacuum still works well. When the bag is half full, I use gloves, a face mask and glasses when I empty the bag into the garbage. It takes a few minutes to do but I have saved money over the years never to order new bags. I just reuse the same ones. Thinking out of the box to save more $$.

Ugh, it's a dirty job that I never thought of doing, even when I did not have much money. In addition, the bag's pores get plugged up with fine dust, and the suction gets weaker with time even if the bag is emptied.

You can find most bags on ebay at a fair price. My vacuum is over 30 years old I can still get bags for it on ebay. I think I am paying less than $2 for a bag.

I am still using my old vacuums. One day went to Walmart to get replacement bags and they did not have any. What the heck! Did people stop vacuuming? Then, it occurred to me that I was among the few who had not gone "bagless".

I did not care to have to empty even those bagless vacuums. I just want to throw away the yucky bag of dust, so looked on eBay and was able to buy replacement bags. I do not remember what I paid, but they were definitely not $2/bag. Maybe they are getting as scarce as hen's teeth. Darn, I need to buy to stock up now.

 

[Nemo2]

We just spray paint the dust - works a treat.

 

[ArmchairMillionaire23]

1910-12 is our favorite era for houses - 5-panel doors, transoms, real tongue and groove flooring...

Exactly!
Our upstairs still has the five panel doors. Unfortunately the ones on the ground floor were replaced in the '80s with either cheap hollow-core doors or bifold doors. We replaced those with solid pine doors and used vintage knobs and lock plates to at least make them look older. I could go on, but...

Sorry to get off-topic.

 

[FANOFJESUS]

Ugh, it's a dirty job that I never thought of doing, even when I did not have much money. In addition, the bag's pores get plugged up with fine dust, and the suction gets weaker with time even if the bag is emptied.



I am still using my old vacuums. One day went to Walmart to get replacement bags and they did not have any. What the heck! Did people stop vacuuming? Then, it occurred to me that I was among the few who had not gone "bagless".

I did not care to have to empty even those bagless vacuums. I just want to throw away the yucky bag of dust, so looked on eBay and was able to buy replacement bags. I do not remember what I paid, but they were definitely not $2/bag. Maybe they are getting as scarce as hen's teeth. Darn, I need to buy to stock up now.

I just looked them up closer to $1 a bag.

 

[Alex The Great]

That is amazing. If you don't mind me asking what state are you in? Could you spend more if you wanted to?

There was another post explaining situation, if you check it back to that pages. I believe it is the state of Ohio, with Kaiser high deductible health insurance.

 

[Digger1000]

That is amazing. If you don't mind me asking what state are you in? Could you spend more if you wanted to?

Ohio. The first 24k of income is taxed at 0%. They changed it to that 2 years ago. I had moved here in 2017. I had no idea they were going to do that.

Yes I could spend more. But I would break out in hives. I am in the top 12% in net worth in America but I might be in the top 1% in least spending. 2 reasons I would like to keep my spending low is to be able to convert 15k a year to a Roth and I have a 84k longterm capital gains loss that allows me to have a 3k loss every year on Form D. I would like to stretch that 3k loss as many years as I can. A 3rd reason would be to make sure I keep my ACA $0 premium bronze plan. But you can make 25k a year(28k for me with the 3k loss) and keep the premium at $0. I'm well under that even with the 15k yearly Roth conversion. In Iowa where I lived most of my life my deduction would only be $1900. In Tennessee where I will eventually move the deductible is the same as Ohio.

I was totally in dotcom mutual funds and went from 276k down to 15k in the dotcom crash. 15 years later I retired at age 51 as I put that 15k along with all new additional money over the years in index funds. I thought I would have to work until 70 after the 07-09 crash.

 

[FANOFJESUS]

Ohio. The first 24k of income is taxed at 0%. They changed it to that 2 years ago. I had moved here in 2017. I had no idea they were going to do that.

Yes I could spend more. But I would break out in hives. I am in the top 12% in net worth in America but I might be in the top 1% in least spending. 2 reasons I would like to keep my spending low is to be able to convert 15k a year to a Roth and I have a 84k longterm capital gains loss that allows me to have a 3k loss every year on Form D. I would like to stretch that 3k loss as many years as I can. A 3rd reason would be to make sure I keep my ACA $0 premium bronze plan. But you can make 25k a year(28k for me with the 3k loss) and keep the premium at $0. I'm well under that even with the 15k yearly Roth conversion. In Iowa where I lived most of my life my deduction would only be $1900. In Tennessee where I will eventually move the deductible is the same as Ohio.

I was totally in dotcom mutual funds and went from 276k down to 15k in the dotcom crash. 15 years later I retired at age 51 as I put that 15k along with all new additional money over the years in index funds. I thought I would have to work until 70 after the 07-09 crash.

That is a great story. Thanks

 

[FANOFJESUS]

Ohio. The first 24k of income is taxed at 0%. They changed it to that 2 years ago. I had moved here in 2017. I had no idea they were going to do that.

Yes I could spend more. But I would break out in hives. I am in the top 12% in net worth in America but I might be in the top 1% in least spending. 2 reasons I would like to keep my spending low is to be able to convert 15k a year to a Roth and I have a 84k longterm capital gains loss that allows me to have a 3k loss every year on Form D. I would like to stretch that 3k loss as many years as I can. A 3rd reason would be to make sure I keep my ACA $0 premium bronze plan. But you can make 25k a year(28k for me with the 3k loss) and keep the premium at $0. I'm well under that even with the 15k yearly Roth conversion. In Iowa where I lived most of my life my deduction would only be $1900. In Tennessee where I will eventually move the deductible is the same as Ohio.

I was totally in dotcom mutual funds and went from 276k down to 15k in the dotcom crash. 15 years later I retired at age 51 as I put that 15k along with all new additional money over the years in index funds. I thought I would have to work until 70 after the 07-09 crash.

How about a car? How about utilities? Are they included?

 

[Nick12]

Ugh, it's a dirty job that I never thought of doing, even when I did not have much money. In addition, the bag's pores get plugged up with fine dust, and the suction gets weaker with time even if the bag is emptied.



I am still using my old vacuums. One day went to Walmart to get replacement bags and they did not have any. What the heck! Did people stop vacuuming? Then, it occurred to me that I was among the few who had not gone "bagless".

I did not care to have to empty even those bagless vacuums. I just want to throw away the yucky bag of dust, so looked on eBay and was able to buy replacement bags. I do not remember what I paid, but they were definitely not $2/bag. Maybe they are getting as scarce as hen's teeth. Darn, I need to buy to stock up now.

No issues on my handy dandy very heavy Hoover vacuum. Haven't bought bags in many years. Empty the bags outside in the garage area. Easy peasy and takes a few minutes. Suction works like new.

 

[Digger1000]

How about a car? How about utilities? Are they included?

All included.

Below are pretty much my expenses that I can think of.

Monthly costs including tax.
Internet 35.08
Flip phone 32.56

My electric bill has been $32 or under the last year, the year before was usually under $30. Heat and water are included in the rent.

I just paid my auto insurance for 6 months and it was $140 for 6 months. Registration is $61. I pay $100 a year for renters insurance only because it is required.

Directv changes depending on the time of year. Right now it is $60. During the fall its $100 give or take.

I dont drive much so I dont use much gas.

I shop every 2 weeks at Aldi. I would say my average there is $60 every 2 weeks. I eat all my meals at home. Every 6 weeks I pick up a few things at Walmart but not food(I do get Folgers crystals there).

 

[rudolphin]

Jacob over at early retirement extreme has been doing $7k/yr for a while

 

[REWahoo]

^ Is it April 1 already?

 

[FANOFJESUS]

All included.

Below are pretty much my expenses that I can think of.

Monthly costs including tax.
Internet 35.08
Flip phone 32.56

My electric bill has been $32 or under the last year, the year before was usually under $30. Heat and water are included in the rent.

I just paid my auto insurance for 6 months and it was $140 for 6 months. Registration is $61. I pay $100 a year for renters insurance only because it is required.

Directv changes depending on the time of year. Right now it is $60. During the fall its $100 give or take.

I dont drive much so I dont use much gas.

I shop every 2 weeks at Aldi. I would say my average there is $60 every 2 weeks. I eat all my meals at home. Every 6 weeks I pick up a few things at Walmart but not food(I do get Folgers crystals there).

I am just amazed at you. We are living on 22k a year. I thought that was great but you got us beat.

 

[aja8888]

All included.

Below are pretty much my expenses that I can think of.

Monthly costs including tax.
Internet 35.08
Flip phone 32.56

My electric bill has been $32 or under the last year, the year before was usually under $30. Heat and water are included in the rent.

I just paid my auto insurance for 6 months and it was $140 for 6 months. Registration is $61. I pay $100 a year for renters insurance only because it is required.

Directv changes depending on the time of year. Right now it is $60. During the fall its $100 give or take.

I dont drive much so I dont use much gas.

I shop every 2 weeks at Aldi. I would say my average there is $60 every 2 weeks. I eat all my meals at home. Every 6 weeks I pick up a few things at Walmart but not food(I do get Folgers crystals there).

This guy is my hero. I think I lived like him when I was in college on the G.I. Bill between 1969 - 1973 ($222/month) and had a part time job. He must be single, though.

 

[rudolphin]

^ Is it April 1 already?

He's been blogging about it since 2007 and wrote a book about it. That makes for a long running April 1st. I've never met him, so decide on your own

 

[teejayevans]

Finally ran my 2020 spending numbers. My total spending in 2020 was $13,205.94. I retired 4 years ago at age 51. Taxes are of course included in total spending after you retire. My taxes are $0.

Some people pay more than that in health insurance alone.

When I was living on my boat it was pretty low.
Health insurance: $700/yr
No car, no house, no utilities (solar panels plus occasionally running a generator if I was anchored and not running the engine)
Boat expenses were around $3000/yr (sailboat, used 50-100 gallons of diesel), maintenance and occasionally stopped at a marina for laundry, water, etc.
Food $2500
Miscellaneous maybe $800

So about $7000 total but I only did it for a few years, and I was younger.

 

[Letj]

Total expenses for Jacob was about $1,400. His wife pays half.

 

[wmc1000]

After reviewing 2020 expenses - our minimum required annual expense cost was $28k and we chose to spend an all in amount of $60k.

 

[Time2]

I think this whole thread is wrong thinking!
How much does it take to have a normal middle class lifestyle.
But I'll start my own thread.

 

[Nemo2]

I think this whole thread is wrong thinking!
How much does it take to have a normal middle class lifestyle.
But I'll start my own thread.

I'll help. Define "Normal".

 

[SecondCor521]

I'll help. Define "Normal".

I think the definition will be "What Time2 spends"

 

[calmloki]

 

[JJpop]

These threads always are nuts.
People do what is important to them. To some, setting a record for cheap living is what makes them happy and fulfilled. I do not find it admirable because anyone obsessed with it can do it. For those who do it out of necessity that is totally different.
I don’t know if being obsessed with not spending is much better than the opposite.
Whatever makes one happy.

 

[GenXguy]

I don’t know if being obsessed with not spending is much better than the opposite.
Whatever makes one happy.

Being a minimalist and/or otherwise trying to limit your environmental footprint and not buying too much into the consumasucka lifestyle doesn't make someone obsessed, but it's much better than the alternative.

I envy those that do it - not everyone can.