2011 Expense Categories and Amounts

NW-Bound said:
Sorry to hear about your job loss there, Aaron. I remember that early this year, or was it even before that, you had some apprehension that your job might be in jeopardy. Hope the economy picks up and you will find something soon.
Click to expand...


Thanks. I have no doubt i'll find a job but i've hade no luck applying for the better type jobs that I qualify for. Even those jobs only pay around $12/hr starting. I may have to resort to an employment agency which will likely only pay $8-$9/hr for difficult manual labor jobs. That may not even cover my $1000/mo budget. I could probably drop my budget down to $800/mo if needed but that would make me feel deprived. That extra $200/mo really makes a difference for me.
 
Unfortunately I have not made it a habit to track expenses in any detail at all. My numbers will be of little use to others, but here they are.

I have only 2 "buckets".
1,400 rent. 1br condo. Includes pretty much everything. Cable, water, elec, heat, parking, etc.
1,500 all other spending. Food, entertainment, vacations, car expenses, clothers, toys, cell, gym etc.

Total of 2,900 a month, 35k a year.

This has been pretty level for the last 4 years. Making me lazy to track in detail.

Health insurance is thru work. Not included in the numbers above. Costs me 110 a month, 1,320 a year.

Single, high cost of living area, eat out almost all the time.

T
 
I quit itemizing expenses for 2011. But we'll end up spending close to $72k which is what I budgeted in these categories.

Insurance 305
Utilities, TV,internet 511
DW Auto 200
Groceries 500
DW Misc 800
DH Auto 400
Condo 670
Dining, ent, travel 1000
Home Repair,etc 400
DH Misc 800
Property taxes 600
total 6186
 
We are among the top spenders around here, but I knew that without seeing any numbers. I don’t keep a detailed record of our spending but I do monitor it. We have a second home (budget death trap) which is a major draw, and we contribute substantially. Still, our single largest category of spending is health care. Insurance premiums this year will be $23K. This HSA policy allows us the opportunity to pay the first $5K, which we are doing, and it does not cover certain types of services or supplements, which we consume. So, in healthcare alone, our budget this year is over $30K and I do not see that falling.
 
I enjoyed reading this thread. It gives me hope that I can make it on my pension which I've often described as 'meager'.

This year - my first ER year - wasn't as good as my next years will be. It is taking me a while to reduce spending. It is a wonder I was able to save so much over the years because I spent so much on things like $200 bed sheets. Now, I buy the $50 ones. September through November spending is looking a lot better than February through June.
 
MichaelB said:
We are among the top spenders around here, but I knew that without seeing any numbers. I don’t keep a detailed record of our spending but I do monitor it. We have a second home (budget death trap) which is a major draw, and we contribute substantially. Still, our single largest category of spending is health care. Insurance premiums this year will be $23K. This HSA policy allows us the opportunity to pay the first $5K, which we are doing, and it does not cover certain types of services or supplements, which we consume. So, in healthcare alone, our budget this year is over $30K and I do not see that falling.
Click to expand...

OMG- You spend more on healthcare than some spend on their entire years budget. I assume when you get to medicare your costs will go down by a substantial margin?
 
Mulligan said:
OMG- You spend more on healthcare than some spend on their entire years budget. I assume when you get to medicare your costs will go down by a substantial margin?
Click to expand...
Yes, that would make a big difference for us. Aside from employer provided and subsidized, I can't see how most can afford this.
 
Last edited:
MichaelB said:
... Still, our single largest category of spending is health care. Insurance premiums this year will be $23K. This HSA policy...
Click to expand...
We also have an HSA with a $10K/yr deductible. However, our premium is a bit more than 1/3 of yours. We are a few years younger. It scares me that my premium may go up that much in a few years. Yet, you are still some years from Medicare eligibility too.
 
NW-Bound said:
We also have an HSA with a $10K/yr deductible. However, our premium is a bit more than 1/3 of yours. We are a few years younger. It scares me that my premium may go up that much in a few years. Yet, you are still some years from Medicare eligibility too.
Click to expand...
I'm M-7, just recently. I looked thru my files for the past couple of years because I had a table that showed the cost per age bracket for the same but can't find it. I do know that between inflation and age creep our premium doubled in 3 years ('08-'10).
 
I don't know what M-7 means.

But premium doubling every 3 years? And I still have 10 years till Medicare? That works out to my premium increasing 10X before the pain stops. I am doomed!

Though we have no claims so far because of the $10K deductible, our premium has gone up quite a bit since I had the policy a few years go, though I do not remember off-hand what it was (still below the true pain threshold).

I AM DOOMED!
 
MichaelB said:
Aside from employer provided and subsidized, I can't see how most can afford this.
Click to expand...

I don't either. That's awful. I'm so glad now that I decided to work 2 years beyond FI to qualify for retiree health insurance (thanks, Rich and others who helped me to make that decision).

In a year and a half I will qualify for Medicare and my insurance will become secondary. I just hope that doctors continue to take Medicare patients for the forseeable future.
 
NW-Bound said:
I don't know what M-7 means.

But premium doubling every 3 years? And I still have 10 years till Medicare? That works out to my premium increasing 10X before the pain stops. I am doomed!

Though we have no claims so far because of the $10K deductible, our premium has gone up quite a bit since I had the policy a few years go, though I do not remember off-hand what it was (still below the true pain threshold).

I AM DOOMED!
Click to expand...
Breath deeply.:)

M-7 is the way I view and describe my age. Medicare in 7 years. Just came down 1 and feels like a real achievement. My premium doubled in the '08-'10 period, but this year the increase is much lower (only 2X CPI) and before that I lived in NY (with a real crappy policy) so no additional history with which to compare.

Don't worry. It'll only make you sick and force you to spend your deductible. Relax, and have some wine with dinner.
 
Yeah, I can not imagine trying to acquire health insurance without either employer or retiree subsidy (and group rates). The 30K which MichaelB is paying per year probably would not cover us, based on our health issues. Even with decent insurance, our total is over 10K this year as mentioned earlier. Next year, if we stay reasonably well, our total should go down, but not because we will be on Medicare - only because of fewer claims which is just a hope at this point. DW is running out of parts to replace, I hope!:LOL:

Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
 
Reading all these budgets explains why the economy is in such dire straights.:LOL:
 
Koolau said:
Yeah, I can not imagine trying to acquire health insurance without either employer or retiree subsidy (and group rates). The 30K which MichaelB is paying per year probably would not cover us, based on our health issues. Even with decent insurance, our total is over 10K this year as mentioned earlier. Next year, if we stay reasonably well, our total should go down, but not because we will be on Medicare - only because of fewer claims which is just a hope at this point. DW is running out of parts to replace, I hope!:LOL:

Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
Click to expand...

Fortunately, I'm still covered under an employer's plan. Also, fortunately, I am in good health so that when I retire in 17 months, I'll be able to continue with the employer's plan by contributing $3,000 annually towards it.
 
MichaelB said:
Breath deeply.:)

M-7 is the way I view and describe my age. Medicare in 7 years. Just came down 1 and feels like a real achievement...
Click to expand...

Ah! And I thought "M dash 7" was some classification used by the insurers to decide how to charge their customer, and some label that I definitely do not want to be applied to myself. Sorry!

It is sad when one wants to age quickly to get to the eligibility age for medical coverage.

PS. I meant no offense, because I was talking about myself too!

Don't worry. It'll only make you sick and force you to spend your deductible. Relax, and have some wine with dinner.
Click to expand...

So, you mean I can resume looking forward to eating gourmet food next year with the money I have been spending on my children, instead of gorging myself on "rabbit food" like my friends have teased me?

Nah! If my blood pressure goes up and I need medication, the insurer would know, because of their discount medicine card that I would use to get medicine. My doctor would not tell, but the insurer's computer would know, right? All the more reasons they have to raise my premium even more.

PS. This is only a half-joke. I worry both about the state of my health as well as the increasing insurance premium. I never spent the time to understand how they determined the premium, but saw it being raised regularly like clockwork while we had no claims.
 
Last edited:
My health insurance will actually go up with medicare since I will have to keep my federal blue cross/blue shield and pay for medicare part B . So the cost of my health insurance will increase by $115 monthly . The blue cross blue shield will pay all the deductibles so if it's a bad year I do well . If it's a healthy year I thank God and pay the extra money .
 
Moemg said:
My health insurance will actually go up with medicare since I will have to keep my federal blue cross/blue shield and pay for medicare part B . So the cost of my health insurance will increase by $115 monthly.
Click to expand...
That will decrease to $99.xx in 2012.

Ha
 
Ive been very fortunate. Im paying a dollar less than I was when I started my individual plan 15 months ago. Im hoping to avoid a " January surprise".
 
Koolau said:
Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
Click to expand...

Speaking as one who posted a budget here, yes, I'm still w*rking, and have good health benefits from my employer (public sector).

Right now I'm budgeting about $1k/mo for self-insured after retirement, which will be about 20-25% of my retirement budget. But I hope it may be less, as we'll be young (30s) with no prior issues. I'll know more as I get closer.
 
Koolau said:
Yeah, I can not imagine trying to acquire health insurance without either employer or retiree subsidy (and group rates). The 30K which MichaelB is paying per year probably would not cover us, based on our health issues. Even with decent insurance, our total is over 10K this year as mentioned earlier. Next year, if we stay reasonably well, our total should go down, but not because we will be on Medicare - only because of fewer claims which is just a hope at this point. DW is running out of parts to replace, I hope!:LOL:

Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
Click to expand...

Living in a state that underwrites and getting accepted and healthy are the keys obviously if you dont have it paid for. I pay $860 a year for a 5k deductible (I am 47). Never have any expenses, so counting my 3k HSA tax deduction, I actually make over a hundred bucks a year profit buying health insurance. I have a friend who him and his wife are in their mid 50's pay $425 a month for a family of four with a $7500 total deductible, that seems real reasonable. Just got him to understand the need to open up his HSA with it. I am always stunned and shocked at the premiums some of our forum members have to pay.
 
Koolau said:
Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
Click to expand...

After my HI premium rose 50% in 2 years following my ER in late 2008 (3 years ago), I switched to a far cheaper hospital-only HI plan earlier this year. It costs me about $6,000 less per year than my previous plan so as long as I, a healthy person at age 48, do not run up $6,000 per year in out-of-pocket charges which would have been previously covered, I will be no worse than breaking even.

Furthermore, once Obama's ACA becomes fully effective (assuming it survives the SCOTUS and repeal efforts by the GOP) and those exchanges begin, I can switch back to a broader coverage whose premiums are not sky-high like my former plan's ones were. [I live in New York where the individual HI market is very tough and costly for people like me.]
 
I’m still working. Wife is retired.
Annual Expenses

Auto 7,924
Business Exp 645
Cell Phone 676
Charity 24,174
Gifts 1,753
Groceries 8,566
Life Insurance 1,822
Housing 16,565
Medical 9,102
Other 1,848
Personal 15,253
Pleasure 11,897
Tax Prep and Inv Exp 2,331
Taxes 72,541
Unknown 48

Total 175,143
 
Single, 2700/month, health 745, pet 242, food 511, auto 245, utilities 200, home repair and other issues 320, entertainment 220, the rest "other". It's not the cheapest but still LYBM good enough, that's from June 2010 to May 2011. My fiscal year begins in June because that's when I started keeping track oh those many years ago.:)
 
You must log in or register to reply here.

Latest posts

Back
Top Bottom