Recent empty nesters - how have your expenses changed?

[MaybeBabyMustache]

Our kids are 14 & 15, and I'm finalizing some of my FIRE numbers. My current plan is to FIRE in February of 2022, with my husband continuing to work for the next four years or so.

I have a clear sense of our expenses now, and have known areas that will cut back (or change) once the kids are out of the house. We do plan to help with college, but that money is saved separately. I have guesses at other budget line items that might change, but wanted perspective from those who have recently gone through this.

-How has your budget changed, on a category level, since your kids have left the house?
-Were there any changes (either up or down) that surprised you?

The categories that I'm planning to change, post kids in the house:
-Kids activities - expecting a substantial drop. We may cover the occasional college activity, but generally will expect them to work during college to cover this
-Groceries - substantial drop. Two teen boys are expensive to feed
-Travel - will likely increase, with no dependence on the school schedule. We will continue to pay for family vacations during college, should our kids want to join.
-Utilities - expecting a decrease
-Dining out - we expect this to increase. We don't eat out much now, but I can see us changing that quite a bit, once the kids are out of the house.

Any other wisdom or advice you'd share?

[Blissful Biker]

I am in the same boat with two teenage boys and would also love to hear what people have experienced.  When they leave I am estimating that our food costs will be cut in half but haven't considered other impacts.

[scantee]

My kids are a couple years younger so I haven’t thought about his too much. But, my expectations are roughly the same as yours. Higher travel and restaurants, lower groceries, activities and utilities.  I really want to build a small passive house and if I do that it would likely be after my kids are out of the house or close to it. It’s a dumb move financially but I really want to so if I have the money at that point I’ll probably go for it even if I have to make sacrifices elsewhere.

[SunnyDays]

Unless your kids are moving far away, don’t count on your grocery bills decreasing that much.  When they find out what food costs, they will be eating at “home” a lot and shopping your pantry!

[AMandM]

My two college-age sons, who live at home, are away for the summer and it has taken me several weeks of grocery shopping to adjust! The biggest difference has been in sandwich making ingredients and milk.

If you have car insurance, that will drop once the young males are off your policy.

If you can switch from family coverage to couple-only, your health insurance can go down as well.

[Cranky]

Not really a lot changed for a long time, honestly. Our house was small and our utilities were mostly the basic fees, not usage. We bought grown up food instead of Mac & cheese, so food costs averaged out. We kept our kids on our health insurance until they aged out.

[MaybeBabyMustache]

Super helpful to read all of the responses so far, so thanks for the input. @SunnyDays - it's too early to know for sure, but if I had to guess, I'd assume one of my kids will stay closer to home for a few years (community college), while one immediately goes to a further away four year college. We'll cover expenses for both (and they will work, to contribute), but the food reminder is a good one.

[darkadams00]

Reductions:
1) Food (boys + sports = appetites)
2) Car insurance (family car as we were a one car family through most of their teen years)
3) Water/electricity (constant showers/laundry, see sports above, and ongoing energy drains in their bedrooms)
4) Health insurance (available until 26 or we/they dropped coverage…family plan not reduced until both were off the plan)

While sons were at home, we were middle of the road on the “you and your neighborhood” utilities cost graphs. Now our utility costs look like a 94-year old miser lives here in comparison to our neighbors. Honestly, just the savings on cars, utilities, eating out, and DIY is funding retirement accounts better than many.

Both of my sons went away to school and never returned to live. Their bedrooms were converted to an office and guest room in fairly short order, and they’ve visited often since (both married now).

[MrThatsDifferent]

Pro tip: reconsider the dining out more. Sure, it’s nice to go out but there’s a correlation with dining out and weight gain, which isn’t ideal the older you get. Enjoy your life, don’t forget to make healthy living a key element of it.