I posted this thread two years ago, asking for advice:
http://forum.mrmoneymustache.com/ask-a-mustachian/doing-well-but-i-feel-like-lots-of-room-for-improvement-advice/msg61376/#msg61376I got some excellent advice from a few of you back then, and after implementing most of the suggestions my wife and I managed to:
* Take our savings rate from 40% to 70%.
* Cut expenses from $4200 to $3200/month.
* Thanks to excellent stock market years in 2013 and 2014, grow our investment portfolio from $138k to $364k (an increase of more than our combined net income over that period!)
So, in that vein, I thought I'd make another post and see if I can squeeze any more awesome advice out of all you awesome folks! :)
Wife and I are 30 and live in Vancouver, Canada. We want kids in the not-too-distant future, and the goal is FIRE somewhere between 35 and 40.
Current balance sheet:
My RRSP: $152k
Her RRSP: $38k
My TFSA: $72k
Her TFSA: $50k
Taxable investments: $52k
Condo worth $240k with a $151k mortgage.
Net worth: $453k, with $364k liquid. Investments are 20% Canadian equity, 50% US equity, 15% international, and 15% Canadian bonds.
Income: $9000/monthExpenses: $3200/month$1200 Mortgage + Condo fee + Property Tax (@ 2.05%. Interest is $270, principal $660).
$480 Groceries. We shop around, only buy on sale, stock up in bulk. Would love tips on how to get this down (Canadian prices suck)
$130 Eating out. We usually go out once a week or so, and we're also poly so we frequently do the dinner date thing with other partners. We generally don't order appys or drinks.
$50 Alcohol. That's on top of groceries and eating out. We make our own wine for $3/bottle and mostly drink that, as well as some spirits.
$40 Clothing.
$120 Household and general purchases. Includes a laptop, furniture, walmart trips, random household things like cleaning supplies and shelving.
$130 Entertainment. Movies, ski trips, games, clubs.
$175 Gas. She drives to work, we have a paid-off 2006 Suzuki.
$150 Car repairs.
$85 Transit. I take the bus.
$130 Insurance - car (liability only) + condo.
$120 Phones. Cheapest data plan we can get, at a grandfathered rate. I'm unwilling to give up data.
$40 Home internet. Cheapest plan, and I called them and got a reduced "loyalty" rate.
$100 Gifts + donations.
$50 Electricity. This includes heat because we use all-electric heating.
$220 Travel. We spend about $2500k/yr on a few long weekends here or there, skiing, and usually a week with friends somewhere a day's drive away.