As we approach RE, my wife and I are trying to determine what we need to spend each month. We have 10+ years of Quicken data, so we know what we have been spending, and we plan to continue to spend at about that level, or a bit lower. But we don't really know "how low we can go" when we eventually encounter a string of bad market years or other setbacks. So we sat down and completed the rather tedious process of making a list of all the stuff we spend now in the "miscellaneous" category. Then we crossed off all the stuff we could do without. We checked exact prices on the remaining items, determined how much we use, and then determined a monthly and annual cost. Then we added tax, plus another 10% for things we haven't foreseen. This is based upon a family of three, and we think these are things we need to feel that we aren't actually suffering. We came in at under $200/month vs. the roughly $600 we spend now. So we know that we could cut expense by almost $5,000/year in this category alone. It helped to see it all in detail. Next we plan to tackle the food budget, and then on to the other categories. Eventually we'll have a better idea of "how low we can go". Obviously, everyone has different needs, but thought this might be of some interest.
THESE ARE ALL MONTHLY AMOUNTS
BATHROOM STUFF
Shampoo $3.50
Cream Rinse $3.08
Soap $1.93
Lotion $6.93
Toothpaste $1.49
Floss $1.40
TP $6.15
Kleenex $1.32
Pads $4.26
Shaving Cream $1.73
Razors $0.65
Band-Aids $1.00
Rubbing Alcohol $0.12
Hydrogen Peroxide $0.10
Deodorant $8.28
Make-up $3.75
Wash Cloths $0.83
Towels $1.66
Hair Dryer $1.67
TOTAL $49.85
MISC. STUFF
Gasoline - 1 1/2 Tanks (675 miles) $35.78
Sam's Club Membership (pays for itself) $2.92
Light Bulbs $1.56
Hair Cuts $21.66
Snow Removal $5.00
Candles $0.33
Mower Gas $0.80
Mower Oil $0.15
Sunday Paper (coupons pay for it) $8.66
TOTAL $76.86
CLEANING SUPPLIES
Laundry Detergent $3.22
Stain Remover $0.32
Toilet Cleaner $1.86
Tub Cleaner $2.37
Windex $0.08
Vacuum Bags $0.27
Shop Vac Bags $0.24
TOTAL $8.36
KITCHEN STUFF & OTC MEDS
OTC MEDS VITAMINS
Allergy Sinus $0.29
Actifed $0.65
Ibuprofen $0.99
Benadryl $0.15
Calcium Carbonate $1.03
Calcium Citrate $2.28
Vitamins $1.81
Fish Oil $1.81
Fiber $4.25
KITCHEN STUFF
Paper Towels $0.48
Foil $1.47
Handiwrap $2.62
Small Baggies $0.86
Gallon Baggies $1.71
Dish Soap $1.06
Dishwasher Detergent $1.06
Garbage Bags $0.88
TOTAL $23.40
OFFICE SUPPLIES
Paper - 500 Sheets/yr. $0.33
Envelopes $0.10
Stamps $5.55
Scotch Tape $0.28
Laminating Tape $0.07
Batteries $2.60
Pens - $0.58
Printer Cartridge $2.29
TOTAL $11.80
EXTRA UNFORESEEN EXPENSES (All Above Expenses x 10%)
TOTAL $17.03
SALES TAX (All Above Expenses x 6%)
TOTAL $11.24
Grand Total Per Month
GRAND TOTAL $198.53
Grand Total Per Year
GRAND TOTAL $2,382.36
THESE ARE ALL MONTHLY AMOUNTS
BATHROOM STUFF
Shampoo $3.50
Cream Rinse $3.08
Soap $1.93
Lotion $6.93
Toothpaste $1.49
Floss $1.40
TP $6.15
Kleenex $1.32
Pads $4.26
Shaving Cream $1.73
Razors $0.65
Band-Aids $1.00
Rubbing Alcohol $0.12
Hydrogen Peroxide $0.10
Deodorant $8.28
Make-up $3.75
Wash Cloths $0.83
Towels $1.66
Hair Dryer $1.67
TOTAL $49.85
MISC. STUFF
Gasoline - 1 1/2 Tanks (675 miles) $35.78
Sam's Club Membership (pays for itself) $2.92
Light Bulbs $1.56
Hair Cuts $21.66
Snow Removal $5.00
Candles $0.33
Mower Gas $0.80
Mower Oil $0.15
Sunday Paper (coupons pay for it) $8.66
TOTAL $76.86
CLEANING SUPPLIES
Laundry Detergent $3.22
Stain Remover $0.32
Toilet Cleaner $1.86
Tub Cleaner $2.37
Windex $0.08
Vacuum Bags $0.27
Shop Vac Bags $0.24
TOTAL $8.36
KITCHEN STUFF & OTC MEDS
OTC MEDS VITAMINS
Allergy Sinus $0.29
Actifed $0.65
Ibuprofen $0.99
Benadryl $0.15
Calcium Carbonate $1.03
Calcium Citrate $2.28
Vitamins $1.81
Fish Oil $1.81
Fiber $4.25
KITCHEN STUFF
Paper Towels $0.48
Foil $1.47
Handiwrap $2.62
Small Baggies $0.86
Gallon Baggies $1.71
Dish Soap $1.06
Dishwasher Detergent $1.06
Garbage Bags $0.88
TOTAL $23.40
OFFICE SUPPLIES
Paper - 500 Sheets/yr. $0.33
Envelopes $0.10
Stamps $5.55
Scotch Tape $0.28
Laminating Tape $0.07
Batteries $2.60
Pens - $0.58
Printer Cartridge $2.29
TOTAL $11.80
EXTRA UNFORESEEN EXPENSES (All Above Expenses x 10%)
TOTAL $17.03
SALES TAX (All Above Expenses x 6%)
TOTAL $11.24
Grand Total Per Month
GRAND TOTAL $198.53
Grand Total Per Year
GRAND TOTAL $2,382.36