How much a day?

[old medic]

Anyone look at financial stuff this way? It started between our power bill and the unending " For only 62 cents a day" commercials. Our last power bill .... $1.76/day. So we jokingly started looking at what we could afford a day. As we played around with #'s it started getting interesting... Our just to exist... $14/day... this is without food, beverage and staying home looking at our vehicles. The new truck costs us another 22.50/day (for now) just to look at it. Other debt is about $9/day. So $45.50/day for the next 3-4 years.
I know I know.... Income Tax and Health Insurance. This hurt... $52/day... but comes out before we get our share... (AKA the leftovers).
So as we plan for next year we only have about $165/day of leftovers leftover to live on....

 

[Al18]

If you’re figuring out you daily income tax, seems only fair to calculate your daily networth increase also. My NW is increasing about 15x more than my income taxes.

 

[disneysteve]

Well using the 4% "rule" we could spend $460.27 per day.

We don't actually spend that much.

 

[Koolau]

Well using the 4% "rule" we could spend $460.27 per day.

We don't actually spend that much.

And then add in SS and Pension, etc.??

 

[disneysteve]

And then add in SS and Pension, etc.??

We're only 61 so no SS and neither of us will have a pension.

 

[Stormy Kromer]

I used to think that hard when I was running my business. Not anymore, just live below my means.

No disrespect to those who want to count change, but I'm done with that now.

 

[badatmath]

My last power bill showed $7/day for electricity. IDK about the rest.

 

[TheWizard]

No, I don't fool with daily numbers.
I keep a broad eye on my monthly numbers.
Anything shorter than that is a waste of my time...

 

[Surewhitey]

We spend ~$200 daily all in... Almost 5x that growth and income... At least for the past 3 years.

 

[TheWizard]

My last power bill showed $7/day for electricity. IDK about the rest.

My last monthly electric bill was $57.08.
You must be running central a/c in the South...

 

[Lorenzo]

My last monthly electric bill was $57.08.
You must be running central a/c in the South...

Did someone say central A/C in the South? And with an older, poorly insulated home, that would make my August electric bill $9.60 /day.

 

[badatmath]

My last monthly electric bill was $57.08.
You must be running central a/c in the South...

AZ. Summer peak rates. Since I tend to be a bit cold easily it isn't even turned down to a low temp. Normal people would use more.

 

[Crewer]

I've calculated the base daily cost for living in my home including property tax, HOA fees, mortgage payment (yes I know but it's at less than 2.3%), and approximate utilities. It's way more than I've ever spent for a hotel.

 

[disneysteve]

My last monthly electric bill was $57.08.
You must be running central a/c in the South...

I don't know where you live but here in NJ, it's not unusual for summer electric bills to top $500. Our latest bill just came today and was for $356.07. That's mid August to mid September. The previous bill (mid July to mid August) was $560.37.

 

[COcheesehead]

This is an old sales technique and you see it often. Break it down to a tiny amount so that the larger total cost is more acceptable.

 

[ransil]

3 years tracking expenses my daily avg is $168

 

[ShokWaveRider]

For us 2024 was $103 a day. Including Food and Grog. Without Food it was $84 a day.

 

[Qs Laptop]

Anyone look at financial stuff this way? It started between our power bill and the unending " For only 62 cents a day" commercials. Our last power bill .... $1.76/day. So we jokingly started looking at what we could afford a day. As we played around with #'s it started getting interesting... Our just to exist... $14/day...

It's an interesting exercise.

Decades ago, when I was in my late 20's I did a similar thought experiment for how much and how many different kinds of taxes a person would need to pay on a daily basis. I visualized it as a parking meter type contraption that I had to put coins into as I went about my day. Wherever I went there was this meter waiting to take my tax money--leaving the front door (property tax) at the gas station (fuel excise tax) , at the schoolyard (property taxes), next to the toilet (water and sewer tax), at the restaurant (sales tax), at the hardware store (sales tax), etc. There was a cashier outside my workplace since coins would be too bulky to carry around for taxes on wages. It was depressing to think about.

 

[Music Lover]

Back when I first started working and didn't make that much I used to calculate daily disposable income ($XX monthly earnings minus $XX monthly expenses divided by 30).

It was a little depressing to see how small that number really was. I became an avid DIYer after spending almost 2 weeks of my disposable income for a 1 hour plumbing job.

 

[Fermion]

Well using the 4% "rule" we could spend $460.27 per day.

We don't actually spend that much.

So....you couldn't afford to go to Disney every day lol

 

[disneysteve]

So....you couldn't afford to go to Disney every day lol

Well 2 annual passes would be about $9/day. That includes parking. So we’d just have to pay for food. We could definitely swing it.

 

[ArmchairMillionaire]

Anyone look at financial stuff this way? It started between our power bill and the unending " For only 62 cents a day" commercials. Our last power bill .... $1.76/day. So we jokingly started looking at what we could afford a day. As we played around with #'s it started getting interesting... Our just to exist... $14/day... this is without food, beverage and staying home looking at our vehicles. The new truck costs us another 22.50/day (for now) just to look at it. Other debt is about $9/day. So $45.50/day for the next 3-4 years.
I know I know.... Income Tax and Health Insurance. This hurt... $52/day... but comes out before we get our share... (AKA the leftovers).
So as we plan for next year we only have about $165/day of leftovers leftover to live on....

Based on the previous 2 years of expenses, we've spent about $98.56/day. (not counting the retirement road-trip vehicle we paid cash for at the end of 2023) This includes property taxes, home insurance, car insurance, car maintenance, gas, food, utilities, travel, concerts, and anything else we used the credit card for or wrote a check for.

Our 3% WR for 2026 will allow us $131.42/day.

I don't know where you live but here in NJ, it's not unusual for summer electric bills to top $500. Our latest bill just came today and was for $356.07. That's mid August to mid September. The previous bill (mid July to mid August) was $560.37.

You made me look. Last month's electric portion of our utility bill was $127.72 or around $4.26/day. We run central air in a somewhat uninsulated 1400 sq. ft. home built in 1910.

 

[pb4uski]

Anyone look at financial stuff this way?...

Nope. Waste of time for me.

 

[old medic]

It's an interesting exercise.

Thanks... We thought so.... Its kind of a budget exercise for our retirement travel plans. We can sit home and save, spurge on dinner out or take off and enjoy the road.
Its funny that in 1986 we rented the house we now own, and bringing home $168/week!

 

[Slim11]

I haven't looked at what I spend per day, but when I retired I broke down my pension. And everytime I got ansie about not working I would tell my self I earn 260 bucks a day, every day to stay home.