Your Major Expenses Broken Into What Can Be Reduced in Cost What Can?

[FIREarly]

I've never had cable TV. Ever. It's almost all over-the-air, but we have been off and on Netflix, and we will download or stream free stuff. I think cable is a place were people that need to cut can cut significantly.

+1 preach on my brother!!

I grew up with cable and when DW and I lived together, before marriage, we did not get cable but cannot live without internet ($39.99/mo; now $59.99/mo). There is a lot to watch on over-the-air TV and streaming Netflix, YouTube (very informative/entertaining), maybe Hulu and Disney+.

We bought the top-of-the-line Mohu antenna (Navy/military material and knowledge to make it) and it's awesome! Virtually no issues at all for +/-3 years.

Looking quickly, I did not see the Mohu antenna we got but the most expensive one is only $119.99 and there is 20% coupon code right now: DADGRAD
https://store.gomohu.com/HD-TV-antennas.html?_bc_fsnf=1&sort=pricedesc

Just searched my email and found the Mohu antenna, ordered late 2018 (if you can find it): Sky® 60 Attic / Outdoor HDTV Antenna

Think about that price vs cable. You make the money back within 2-3 months (including paying for installation to wire in attic and run main cable to splitter).

 

[YVRRocketSurgery]

Food: We love cooking so trying new things and being somewhat adventurous in what we cook is fun. A lot of tasty recipes are supposed to utilize "cheaper" ingredients/cuts of meat. We substitute ingredients to try something different. Ex different nuts instead of expensive pine nuts for pesto. We started buying cheaper bone-in chicken thighs, deboning manually and using it for stock.

Home insurance: Shopped around after our home insurance was going to nearly to double after 5 years without any claims.

Electricity costs: Our power company offers various rebates for purchasing energy efficient products. Ex. Got really good bang for our buck switching all the lights from incandescent to LED. But don't believe the claim that LED lights last for years because we've had a couple fail. It's not the LED that fails, it's the associated circuitry.

 

[jayanu]

We are vegetarian, no alcohol, cook at home. Our food costs are less than $1,200/year.
Some of my neighbors grow their own vegetates!

 

[JackJester]

I have tracked all our expenses for the past 11 years. Not yet FIREd, but close (10 mo to go). These are the averages for the top 5 highest % of my my expenses:
1) Home maintenance (32%). Likely inflated since our focus has been on major renovations for our 30 yo house (no mortgage) as FIRE quickly approaches. Anything from Lowes/Home Depot fall into this category too. Property Taxes are in this category too
2) Groceries (16%). This is all shopping at places like Safeway (Krogers), Costco, Fred Meijers, etc. So, it covers more than food, it is laundry detergent, toiletries, beer/wine, etc., We don’t typically shop at more cheaper places like WINCO but recognize the OP’s observations regarding cheaper options there vs other stores. We don’t skimp on food. We shop for meats at the butcher vs the grocery store, and premium coffee is a must.
3) Vacations and Toys (6%). This is things like airline tickets or hotel rooms, camping RV parks, etc. Misc Amazon expenses go here as well. Not FIREd yet, so only one major ($8K) vacation per year.
4) Insurance (6%). This is a combination of home and auto and RV insurance (2 vehicles plus airstream RV).
5) Restaurants (5%)

 

[ivinsfan]

I think everyone pays that, even those with medigap so it is pretty much
a universal cost that can't be reduced.

VW

Cant say everyone... you occasionally with find an advantage plan that will rebate some or all of your part b costs, which is why I asked the question.

 

[ivinsfan]

We are vegetarian, no alcohol, cook at home. Our food costs are less than $1,200/year.
Some of my neighbors grow their own vegetates!

How many people? even at two people you are talking 1.75 a person a day...veggies are not cheap food.

 

[VanWinkle]

Cant say everyone... you occasionally with find an advantage plan that will rebate some or all of your part b costs, which is why I asked the question.

I'll agree with that point, even though it is very rare and over marketed by celebrities. It is likely less than 2% of the entire medicare advantage market. It is available to those with very low income in medicaid assistance.

Best to you,

VW

 

[ivinsfan]

I'll agree with that point, even though it is very rare and over marketed by celebrities. It is likely less than 2% of the entire medicare advantage market. It is available to those with very low income in medicaid assistance.

Best to you,

VW

And 348 and year plus part b payment is a lot more then "only" 348 a year.


Does anyone here have a policy that rebates the Part B cost?

 

[VanWinkle]

And 348 and year plus part b payment is a lot more then "only" 348 a year


Does anyone here have a policy that rebates the Part B cost?

The point is it can be much less that medigap for those that are able to
afford the max OOP of a Medicare Advantage Plan. Not everyone can
absorb those costs, some can due to good health.

 

[W2R]

And 348 and year plus part b payment is a lot more then "only" 348 a year.


Does anyone here have a policy that rebates the Part B cost?

Frank's Medicare Advantage pays all of his Part B for him, and their fees are not very high. Also they pay his gym fees, and also they pay $30/month (I think?) for OTC meds and such that he can choose online.

Almost all the seniors that we know around here have the same policy that he has. I stuck with my FEHB insurance supplementing Medicare, so I pay Part B.

 

[ivinsfan]

Frank's Medicare Advantage pays all of his Part B for him, and their fees are not very high. Also they pay his gym fees, and also they pay $30/month (I think?) for OTC meds and such that he can choose online.

Almost all the seniors that we know around here have the same policy that he has. I stuck with my FEHB insurance supplementing Medicare, so I pay Part B.

Impressive numbers especially for someone who might be on a budget..

 

[daylatedollarshort]

One area to look at is replacing as many single use and disposable products as possible. It is good for the environment as well as the finances. Here are some of the replacements we've done or have on the to do list:

- Paper towels - washable bamboo towels
- Batteries - rechargeable batteries with a solar charger
- Paper nail files - stainless steel files
- Steel wool scrubbies that disintegrate after a month or so - stainless steel scrubbies (mine have lasted ten years so far)
- Toilet paper - bidet
- Paper napkins - cloth napkins, bonus points if you get them at garage sales or thrift shops
- Plastic lids for food storage (ours were always cracking and even though the bases were glass I had to buy new lids) - silicone stretch lids
- Cotton balls - washable cotton makeup removers
- Coffee filters - washable metal filter
- Liquid hand soap and single use dispensers - reusable mason jars with pump lids, filled with diluted Castille soap
- Baggies - washable food storage bags and reusable food wraps
- Light bulbs - LED inside and solar outside