Author Topic: Spend less than $10,000 in 2014  (Read 43806 times)

Roland of Gilead

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Re: Spend less than $10,000 in 2014
« Reply #100 on: July 21, 2014, 04:29:05 PM »
We spent $60k just in federal tax in 2013 so I think we would fail out of the gate.   Good luck though!

pedostache

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Re: Spend less than $10,000 in 2014
« Reply #101 on: July 26, 2014, 10:06:58 AM »
I'm at 9,700 for the year so it looks like I failed.  Maybe next year

AndThen

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Re: Spend less than $10,000 in 2014
« Reply #102 on: July 28, 2014, 09:45:19 PM »
Mr Derp! This is one of my favorite threads. I keep hoping you pop up and post a 3 month update to keep the ball rolling.

griffin

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Re: Spend less than $10,000 in 2014
« Reply #103 on: July 29, 2014, 04:08:54 PM »
Mr Derp! This is one of my favorite threads. I keep hoping you pop up and post a 3 month update to keep the ball rolling.
+1!!!

Dyk

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Re: Spend less than $10,000 in 2014
« Reply #104 on: August 04, 2014, 09:51:10 AM »
Quote
Just started the journey, so won't be doing this for 2014 calendar year.

But I am in
$30,980.70 - 7 people. 
(I think I just soiled myself)
June:  $2,709
July:  $2,188

The average puts me just on pace!

Bigger Plan

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Re: Spend less than $10,000 in 2014
« Reply #105 on: August 04, 2014, 10:38:19 AM »
Can only assume Herbert Derp has cut his internet and sold his laptop or starved to death.

A true Mustachian :(

arebelspy

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Re: Spend less than $10,000 in 2014
« Reply #106 on: August 05, 2014, 11:40:32 PM »
Can only assume Herbert Derp has cut his internet and sold his laptop or starved to death.

A true Mustachian :(

Hah, the last line made me laugh.

He's out doing, and being.

A true Mustachian!  :)
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unix_kung_fu

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Re: Spend less than $10,000 in 2014
« Reply #107 on: August 06, 2014, 01:35:19 PM »
I couldn't do 10k because my rent puts me at 11.7k for a year alone. I have another $750 each month I put into a joint account that covers all bills/groceries except my phone (we invest most of it) == 20.7k right there. I've got bowling league and do like to sit around in a bar from time to time even though I don't buy consumer goods, etc etc, so I figure if I were to give myself a $300 monthly allowance to screw off, and round up to nearest 1k, I could see myself at $25k.

I live in a very high-cost area of living, but I could see myself living off of $25k. I will use the remaining months in 2014 to train myself and make a go of it in 2015 :)

EDIT: I hope they find Mr. Derp's body soon :(

minimalist

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Re: Spend less than $10,000 in 2014
« Reply #108 on: August 06, 2014, 03:35:13 PM »
I crossed $10k on July 2 :(

Herbert Derp

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Re: Spend less than $10,000 in 2014
« Reply #109 on: August 10, 2014, 11:06:28 PM »
I'm still alive! Sorry I haven't updated in a while but I made a big move and am still getting settled into my new place--Herbert Derp is now a homeowner!

I'll post an update soon.

AndThen

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Re: Spend less than $10,000 in 2014
« Reply #110 on: August 11, 2014, 07:29:47 AM »
Nice! The home better have been less than $2k so you can still make the $10k goal. Don't let us down Herb ;)

arebelspy

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Re: Spend less than $10,000 in 2014
« Reply #111 on: August 11, 2014, 08:31:36 AM »
I'm still alive! Sorry I haven't updated in a while but I made a big move and am still getting settled into my new place--Herbert Derp is now a homeowner!

I'll post an update soon.

Congrats!  Looking forward to the update.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

nikki

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Re: Spend less than $10,000 in 2014
« Reply #112 on: August 14, 2014, 12:01:40 PM »
I'm still alive! Sorry I haven't updated in a while but I made a big move and am still getting settled into my new place--Herbert Derp is now a homeowner!

I'll post an update soon.

A homeowner! I didn't see that one coming.

I'm at ~$6,399.93 USD for the year so far. If I included an estimate of employer-provided housing costs like Ian and I considered early on in this gauntlet, I'm busted already, I think.

Ian

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Re: Spend less than $10,000 in 2014
« Reply #113 on: August 14, 2014, 07:25:08 PM »
Hey, great to see you back!

spider1204

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Re: Spend less than $10,000 in 2014
« Reply #114 on: August 29, 2014, 10:14:21 PM »
After leaving my job I lost my financial tracking software so I can no longer break it down by category, but I've just reached a total of $8200 for the year so at the current rate I'll fail the challenge, but perhaps my expenses will be low enough in the last few months to still succeed.

arebelspy

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Re: Spend less than $10,000 in 2014
« Reply #115 on: August 30, 2014, 02:58:56 PM »
After leaving my job I lost my financial tracking software so I can no longer break it down by category, but I've just reached a total of $8200 for the year so at the current rate I'll fail the challenge, but perhaps my expenses will be low enough in the last few months to still succeed.

Glad to see you back active!  Curious where you're at nowadays.  Still down in CA?  Doing any online freelancing stuff?

Injuries all healed?
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

spider1204

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Re: Spend less than $10,000 in 2014
« Reply #116 on: August 30, 2014, 05:40:52 PM »
After leaving my job I lost my financial tracking software so I can no longer break it down by category, but I've just reached a total of $8200 for the year so at the current rate I'll fail the challenge, but perhaps my expenses will be low enough in the last few months to still succeed.

Glad to see you back active!  Curious where you're at nowadays.  Still down in CA?  Doing any online freelancing stuff?

Injuries all healed?

Ya, I managed to get a gig in LA and got a months worth of work out of that.  However, the injury wasn't healing up so I went back home to MA to rest up.  Then spent the summer out west in CO/WY, but managed to get another finger injury and am now back in MA.  However, this time I caught it much earlier and should be looking at just a month of recovery before heading back out again, most likely to KY for the fall!

Dyk

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Re: Spend less than $10,000 in 2014
« Reply #117 on: September 03, 2014, 06:36:08 AM »
Quote
Just started the journey, so won't be doing this for 2014 calendar year.

But I am in
$30,980.70 - 7 people. 
(I think I just soiled myself)
June:  $2,709
July:  $2,188

The average puts me just on pace!

August = $2,471 - Still just on pace!

Herbert Derp

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Re: Spend less than $10,000 in 2014
« Reply #118 on: September 21, 2014, 09:24:01 PM »
As promised, here is my update! After renting a room for a year, I bought a condo at the end of June in order to provide a stable long term housing solution and low cost of living. Although renting provided me greater financial flexibility, it came at the cost of my quality of living. When I realized that I could buy a condo next to my office and cut my commute from ~45 minutes of busing and walking to only eight minutes of walking, gain the privacy of having my own apartment all to myself, and still maintain my low cost of living, it was a no-brainer for me to make the move. The downside is that my investment in the condo has delayed my FI date by about a year, since a large part of my net worth has become home equity which doesn't provide any passive income as long as I live in the condo.

Three months in, I am loving my condo. My eight-minute commute on foot to work is saving me tons of time and I can sleep in later. I keep my apartment super clean at all times, which I couldn't do when I was sharing a house with other people. Plus, it is always quiet. No more getting woken up by my roommate's dog!

Without further ado, here are the numbers:

May
Rent: $500.00 (includes electricity/water/sewage/trash/internet)
Living: $79.94
Total: $579.94

June
Rent: $0.00 (My landlord kept my security deposit and personal freezer as payment for June)
Housing: $280.65 (closing costs minus credits)
Living: $61.60
Utilities: $0.00
Total: $342.25

July
Housing: $0.00 (July's dues were included in the closing costs)
Living: $90.45
Utilities: $0.00
Total: $90.45

August
Housing: $205.45 (HOA dues)
Living: $71.44
Utilities: $28.74 (electricity, includes one-time setup fee of $21.00)
Total: $305.63

Total spent so far for 2014: $3,729.60
Average monthly spending for 2014: $466.20
Estimated remaining one-off expenses: $620.66 (real estate taxes)
Extrapolated 2014 spending: $6,215.06

So looks like I am still on track to meet my goal. To think, when I started out this year I thought I would spend about $8,000 but now it's looking closer to $6,000!
« Last Edit: October 05, 2014, 11:31:13 PM by Herbert Derp »

AndThen

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Re: Spend less than $10,000 in 2014
« Reply #119 on: September 22, 2014, 06:48:01 AM »
Congrats! Nice minimal spending. I'm sure not having the long bus commute makes life significantly better in addition to you being able to save more per month now. How much did your condo end up costing?

arebelspy

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Re: Spend less than $10,000 in 2014
« Reply #120 on: September 22, 2014, 08:05:25 AM »
Congrats! Do you see yourself staying there long term, after FIRE?
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Elderwood17

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Re: Spend less than $10,000 in 2014
« Reply #121 on: September 22, 2014, 08:39:27 AM »
That is awesome!  I am inspired to see how low I can get my spending rate over the rest of the year.

Herbert Derp

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Re: Spend less than $10,000 in 2014
« Reply #122 on: September 22, 2014, 07:37:01 PM »
Congrats! Nice minimal spending. I'm sure not having the long bus commute makes life significantly better in addition to you being able to save more per month now. How much did your condo end up costing?

Mid 100K's

Congrats! Do you see yourself staying there long term, after FIRE?

Once I hit FIRE I will probably want to do some extensive traveling and settle down in a low cost of living area. Sadly, my condo is in a very high cost of living area so I doubt I will stay here. I'm only here for the jobs, but I plan to stay for a good ten years or so, so I'm glad I bought the place. I can always rent it out and create an extra source of income when it is time to leave, so I'm not worried.

southern granny

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Re: Spend less than $10,000 in 2014
« Reply #123 on: September 22, 2014, 08:05:20 PM »
Won't work for me, my credit card bill this month was $1500.  That is all of our gas, groceries, supplies, dog food, cleaning supplies, some medical bills (we are both over 55), our night we spent at a nearby state park for our 39th anniversary, our Ting bill, and  pretty much everything we bought for the month.  I do it to get the cash back to use at Christmas.  It doesn't include eating out which we do at least once a week or small stops at the grocery or walmart when I spend less than $10.  Next bill won't be any better because my dog's annual visit to the vet and 6 months of heartworm medicine will be on that one and a few more medical bills.  I've made some progress on cutting it down, but it seems like every month something comes up.  But I do pay it off in full each month.  My goal is to get it down to less than $900 each month.  But it sounds like you are doing great.  Good for you.

Bigger Plan

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Re: Spend less than $10,000 in 2014
« Reply #124 on: September 26, 2014, 02:55:28 AM »
Awesome stuff Herb, real interesting twist, glad it's working out.

Dyk

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Re: Spend less than $10,000 in 2014
« Reply #125 on: October 03, 2014, 10:27:49 AM »
I feel like I am hijacking a little .... but to clarify the challenge I took.  (Herbert Derp, let me know if you want me off your post)
I am a family of 7, read through this post, and what I interpreted the generally accepted challenge to be as 87% of the poverty table on the first page.
$35,610*.87 = $30,980.70/yr or $2,581.73/month

I only ran across this blog/lifestyle in May, so I started in June
June:  $2,709
July:  $2,188
August: $2,471
September:  $2,622

Average = $2,497.50 - On pace!

arebelspy

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Re: Spend less than $10,000 in 2014
« Reply #126 on: October 03, 2014, 11:09:35 AM »
30k annual for a family of 7 is pretty badass in my book!
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Herbert Derp

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Re: Spend less than $10,000 in 2014
« Reply #127 on: October 05, 2014, 11:37:55 PM »
Business as usual for September. Spending is up this month due to buying some furniture and trying new foods. I expect more furniture buying for October!

September
Housing: $205.45 (HOA dues)
Living: $122.28
Utilities: $8.93 (electricity)
Total: $336.66

Total spent so far for 2014: $4,076.26
Average monthly spending for 2014: $452.92
Estimated remaining one-off expenses: $620.66 (real estate taxes)
Extrapolated 2014 spending: $6,055.67

happy

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Re: Spend less than $10,000 in 2014
« Reply #128 on: October 06, 2014, 05:26:30 AM »
Awesome, just awesome Herbert Derp.

Spartana

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Re: Spend less than $10,000 in 2014
« Reply #129 on: October 06, 2014, 07:04:07 PM »
Business as usual for September. Spending is up this month due to buying some furniture and trying new foods. I expect more furniture buying for October!

September
Housing: $205.45 (HOA dues)
Living: $122.28
Utilities: $8.93 (electricity)
Total: $336.66

Total spent so far for 2014: $4,076.26
Average monthly spending for 2014: $452.92
Estimated remaining one-off expenses: $620.66 (real estate taxes)
Extrapolated 2014 spending: $6,055.67
Very cool. I'm ER'd and live on a small amount for my basic expenses too ($500 - $700/month on average) but can only do that because I have a paid off house with very low property taxes, free medical care thru the VA hospital (God help me if I actually ever need to use it :-)!), am single, no kids, no debts and most activities and hobbies are free or low cost. My passive income (pension) is approx. $1400/month (of which some is tax free so I am in the zero % tax bracket state (CA) and Fed), and the rest gets stashed for future use - house and car repairs, travel, etc... I didn't see where you had medical insurance and what that cost. Do you gets yours free, subsidized, thru an employer?
« Last Edit: October 06, 2014, 07:35:48 PM by Spartana »

Herbert Derp

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Re: Spend less than $10,000 in 2014
« Reply #130 on: October 06, 2014, 08:29:06 PM »
I get my healthcare through my employer. They take about $30/month from my paycheck to pay for it, but in return I get $41/month added to my HSA. So I guess they are paying me to have healthcare.

Dyk

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Re: Spend less than $10,000 in 2014
« Reply #131 on: November 03, 2014, 10:55:39 AM »
I made it 4 months keeping the average under the goal .... until October.
Main extra costs
- I did splurge before the other extra costs on $100 to make a set of gymnastics bars.  It has been worth it, but ouch, it hurt the challenge.
- Plumbing emergency, cost $40 more to have someone come then to rent the roto-rooter .... watching them, it was worth it.
- Girls in gymnastics (once a year item they choose)
- 5 grocery trips vs. typical 4 (I also get 3 paychecks vs. 2, but doesn't help this challenge)

June:  $2,709
July:  $2,188
August: $2,471
September:  $2,622
October:  $3,626

Average:  $2,723  (Goal is $2,582)
Time to tighten the belt and get the next 2 months back under control.

Dyk

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Re: Spend less than $10,000 in 2014
« Reply #132 on: December 02, 2014, 09:40:24 AM »
June:  $2,709
July:  $2,188
August: $2,471
September:  $2,622
October:  $3,626
November:  $2,613

Average:  $2,704  (Goal is $2,582)
Small progress in the right direction, but still over the goal ........
Not bailing yet, the effort is well worth it.

Herbert Derp

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Re: Spend less than $10,000 in 2014
« Reply #133 on: December 14, 2014, 11:38:43 PM »
Results for October and November are in! I am in the home stretch now, and looks like I am going to come under $6,000 for the year. Starting November, I now have a water/sewer bill. The billing company is behind, so looks like they are doing two bills a month until they catch up. Once that happens, my utilities should go down. Also, now that its winter my electric bill is going to double to around $20 due to running the heater all the time.

October
Housing: $205.45 (HOA dues)
Living: $118.72
Utilities: $8.32 (electricity)
Total: $332.49

November
Housing: $205.45 (HOA dues)
Living: $39.25
Utilities: $49.45 (electricity/water/sewer)
Total: $294.15

Total spent so far for 2014: $4,702.90
Average monthly spending for 2014: $427.54
Estimated remaining one-off expenses: $682.32 (real estate taxes)
Extrapolated 2014 spending: $5,812.76

NoraLenderbee

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Re: Spend less than $10,000 in 2014
« Reply #134 on: December 15, 2014, 05:20:10 PM »
It seems like you aren't counting the cost of the condo in your yearly expenses. Is that right? Did you put $0 down?
Not giving you a hard time--just wondering.

Herbert Derp

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Re: Spend less than $10,000 in 2014
« Reply #135 on: December 15, 2014, 06:50:56 PM »
It seems like you aren't counting the cost of the condo in your yearly expenses. Is that right? Did you put $0 down?
Not giving you a hard time--just wondering.

My closing costs summed up to $280.65, which was included in my recorded expenses. Since the condo is an appreciating asset, I'm counting it as an investment so the money I paid for it is not included in my expenses.

NoraLenderbee

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Re: Spend less than $10,000 in 2014
« Reply #136 on: December 15, 2014, 10:07:21 PM »
It seems like you aren't counting the cost of the condo in your yearly expenses. Is that right? Did you put $0 down?
Not giving you a hard time--just wondering.

My closing costs summed up to $280.65, which was included in my recorded expenses. Since the condo is an appreciating asset, I'm counting it as an investment so the money I paid for it is not included in my expenses.

Makes sense. Thanks.

Grid

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Re: Spend less than $10,000 in 2014
« Reply #137 on: December 19, 2014, 07:02:34 AM »
Commenting so I can find this later and see how I compare!  Dyk's numbers already put me to shame though.

tracylayton

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Re: Spend less than $10,000 in 2014
« Reply #138 on: December 19, 2014, 07:33:49 AM »
Wow! What kind of savings rate will you have for the year? Very impressive!

Dyk

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Re: Spend less than $10,000 in 2014
« Reply #139 on: January 02, 2015, 11:34:37 AM »
Final update:

June:  $2,709
July:  $2,188
August: $2,471
September:  $2,622
October:  $3,626
November:  $2,613
December:  $3,039  (Christmas .....)

Average:  $2,752  (Goal is $2,582)

Didn't make it, but will continue on in the 2015 challenge, the journey is well worth it. 
(On a side note $400/month is charitable giving ..... this is one thing I don't want to work to shrink.  It would be easy to shrink to zero.  So I am wondering if my next goal needs to leave this out . . . .)

The real payoff, is that after a minimal savings rate (not tracked, but probably 2-3%) previously in my life, we saved at a rate of just over 40% after finding this blog!  One income, 7 people.  It is possible.

I owe you guys this:  'Thanks!!!!!!!'

Herbert Derp

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Re: Spend less than $10,000 in 2014
« Reply #140 on: January 02, 2015, 10:46:38 PM »
It's over! What a year! I officially save (a lot) more in a month than I spend in a year. Next year is going to be a lot worse due to a special assessment, but I'll be fine.

December
Housing: $887.77 (HOA dues + taxes)
Living: $69.73
Utilities: $32.52 (electricity/water/sewer)
Total: $990.02

Total spent so far for 2014: $5,692.92
Average monthly spending for 2014: $474.41

BPA

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Re: Spend less than $10,000 in 2014
« Reply #141 on: January 03, 2015, 02:53:26 AM »
Watching you kick your own challenge's ass has been inspirational.  Thanks!

happy

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Re: Spend less than $10,000 in 2014
« Reply #142 on: January 03, 2015, 02:58:02 AM »
Herb Derp you're a legend!

arebelspy

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Re: Spend less than $10,000 in 2014
« Reply #143 on: January 03, 2015, 10:11:58 AM »
Total spent [in] 2014: $5,692.92

...

I'm speechless.

Well done, sir.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Grid

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  • Age: 6
  • I kept dreaming of a world I thought I'd never see
Re: Spend less than $10,000 in 2014
« Reply #144 on: January 04, 2015, 08:42:41 PM »
It's over! What a year! I officially save (a lot) more in a month than I spend in a year. Next year is going to be a lot worse due to a special assessment, but I'll be fine.

Total spent so far for 2014: $5,692.92
Average monthly spending for 2014: $474.41

Amazing!  Something to aspire to. 

I just tallied up my spending for the year.  Not including home renovations (i.e. the ones that made my new place livable) or my house purchase itself, I'm at $9838 for the year.  Without non-reimbursable tuition fees, $8808, with tuition and home improvement, but not including the house:  $11529.  Now off to retract some statements elsewhere where I claimed my monthly spend was $550... *slouches in shame*

Thanks for the inspiration Seņor Derp, and Dyk as well!

Dyk

  • Stubble
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  • Age: 48
  • Location: Grand Haven, MI
  • Starting late, w/ a family, but get out of the way
Re: Spend less than $10,000 in 2014
« Reply #145 on: January 05, 2015, 06:37:11 AM »
Herbert Derp, that is simply amazing!

(I love that we could both participate in this, coming from 2 very 'different' situations.  I applaud you sir!)

Ian

  • Bristles
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Re: Spend less than $10,000 in 2014
« Reply #146 on: January 05, 2015, 11:33:22 PM »
Given my housing advantage, it's no surprise that I made this one without difficulty. Here's a more significant number: my expenses were 63% of the amount I estimated I'd spend per year. Nice to know I'm being conservative enough with my estimates.

BMEPhDinCO

  • 5 O'Clock Shadow
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Re: Spend less than $10,000 in 2014
« Reply #147 on: January 12, 2015, 01:23:52 PM »
Sweet read!  I wanted to post some numbers from my single years (2007-2009) to compare, since it's very different now.

Rent: $480
Gas - $80 (max, mostly it was lower)
Elec - $25
Cell - $30
Internet - $12 (dial up)
Food - $100
Fun - $30
Car Gas - $30
Auto ins - $80
Cat - $13

=$880 (I didn't cover my own health insurance then, if I had to do it, it would have added around $200 a month! yikes!)

=$1080 with HI

=$10,560
=$12,960 with HI

Driving would have been less, but I volunteered with an animal rescue. Electricity was an estimation - usually it was less.  I had the fun money but sometimes I saved it up for other bigger purchases.  I had a gross salary of $15,000 at the time (net was around $13,000).

Sometimes wish I could get back to those days of spending!  Now, we are around $31,000 for two people (although this is not that frugal and HI contributes $5,400 per year).

Good job to those who completed the challenge!