Author Topic: What's your budget?  (Read 20075 times)

windawake

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What's your budget?
« on: October 29, 2013, 08:38:52 PM »
Hi friends,

I just went through all of my Mint.com tracking for the last year to come up with my average monthly and yearly spending for various categories. I'm wondering how it matches up to other single people in their 20s-30s. I know I have some room for improvement, especially the 'other' category which I can't expand further, lately it's mostly dog stuff (just got a puppy) and some cash withdrawals (Craigslist and coffee shops). While I know I could spend less on eating out/going out, I'm single and very social so I love being out and interacting with new people. I try not to get more than 1 or 2 beers while out for drinks, though.

Housing - 536
Groceries - 281 (I shop at a natural foods co-op, I know it's more expensive but eating in an environmentally responsible way is a big value of mine, this also includes cleaning supplies and personal care products)
Restaurants - 66
Alcohol and Bars - 57
Other food - 15
Clothing - 97
Books - 22
Other shopping - 27
Pharmacy - 31
Doctor - 15
Electricity - 18
Phone - 35
Internet - 16
Auto Insurance - 38
Gas and fuel - 23
Other - 307
Total - 1550

bikebum

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Re: What's your budget?
« Reply #1 on: October 29, 2013, 09:24:54 PM »
My total is pretty close to yours. I live with my girlfriend and don't keep track of the money she spends on stuff for herself, but do count money spent on things for both of us. I don't keep track in much detail because I have already trimmed it down as much as I am willing to.

One of the frugal living/money management sites (can't remember which one) had an article about how most people who are into that stuff have a budget of around $2,000 a month. I think this was for small families though. I am interested to see if there is a "magic number" for single mustachians.

You can "pre-game" before going out for drinks. Drink some at home first, then your 1 or 2 beers will give you more bang for your buck.

windawake

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Re: What's your budget?
« Reply #2 on: October 29, 2013, 09:27:28 PM »
Thanks for the response already! I'm such a lightweight that two beers is about my maximum these days. Makes it much easier to be frugal when three beers gets me drunk.
« Last Edit: October 29, 2013, 09:31:31 PM by windawake »

netskyblue

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Re: What's your budget?
« Reply #3 on: October 29, 2013, 09:36:39 PM »
Rent - 750
Car & Renter's Insurance - 72.12
Personal Articles Insurance - 7.33
Internet - 70.25
Energy - 94
Cell Phone - 20 (varies between 17-19)
Netflix - 7.99
Car Registration & Maintenance - 20
Gas - 50
Gifts - 97.50
Groceries (& everything else) - 290
___
1407.07/month

Not so mustachian, I know.  Gifts are really high, but they ARE budgeted for, so no scrambling for cash at the end of the year for Christmas.  Energy is high also.  I partly credit this to working opposite hours & one of us almost always being awake & using lights, electronics.  That and I turn into an icicle under 77 degrees.  Summers are pretty good, winters pretty dismal.

Won't give up the car.  Won't give up internet, and don't have any other cable or DSL choice where I am.  Don't have a phone line, and wouldn't use dial up anyway. 

I know how much longer I'll have to work to keep this "standard of living", and for me, it's worth it.

So yeah.  Not so mustachian.  But I've seen far, far, far worse.

Zikoris

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Re: What's your budget?
« Reply #4 on: October 29, 2013, 11:21:52 PM »
I spend around $800/month. The breakdown:

Rent: 365
Food: 115
Transit: 21(some months zero)
Cell: 35
Internet: 14
Haircuts: 35
= 550

The other $250 goes to entertainment(symphonies, concerts, events), sewing and hobby supplies, weekly diet cokes, gear for hobbies(I just bought $200 hiking boots, eek!), personal care stuff, everything else I buy.

Nudelkopf

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Re: What's your budget?
« Reply #5 on: October 30, 2013, 12:31:08 AM »
Over the last year (I've recently set myself more strict targets, with a move to a different town).

Per month:
Rent = $340
Groceries = $210
Transport = $170 (public transport + new bike last week)
Social = $140
Medical = $20
Sport = $10
Hair = $30
Phone = $15
Uni = $180
Clothes = $65
Travel = $90

Total = $1270

Charlotte

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Re: What's your budget?
« Reply #6 on: October 30, 2013, 06:05:01 AM »
Wow. You guys are amazing! I'll post and screw up the curve.  :)

Housing = $770
Vehicle Gas/tolls, Ins, Maint + Reg = $634 (don't ask....)
Car payment = $323
Utilities = $400
Groceries = $450
Dining + Entertainment = $200
Medical = $100
Vacations = $100
Life/Umb Ins =$83
Gifts = $80
Allowances = $100 ($50 each "blow" money)
Clothing/hair/personal = $50
Misc = $50

Grand total = $3340

If it helps me not get flamed, we are at least under budget in most categories. And we are over budget for income! (Also this does not include our retirement and savings categories, not does it include the kid's college which we are cash flowing.)

ETA: This is for two people living in the New England area.
« Last Edit: October 31, 2013, 05:17:39 AM by Charlotte »

simonsez

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Re: What's your budget?
« Reply #7 on: October 30, 2013, 06:49:29 AM »
I'm with ya Charlotte!

I don't really categorize and it changes a lot whether we are traveling but if I had to ballpark it for the average month....

Take-home pay: ~3500

Rent (my share)=839
Utilities=80
Sallie Mae Mastercard (gas+groceries)=500
Costco Amex (restaurants + bulk groceries)=200
Chase Visa (any other purchase besides above 2 cards)=300
SL Required Payments=500
Extra SL payments~1000

Total~3400

Anything leftover goes to keep checking account at ~5k if not there already or gets added to extra SL payments

I pay slightly over the majority of the rent and take care of all the utilities, gas, groceries, and most of the bars/restaurants.  The wife's income and expenses are not accounted for by the list.

TorontoDeveloper

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Re: What's your budget?
« Reply #8 on: October 30, 2013, 07:34:59 AM »
Couple in our early 20s:

Rent:$1550 (Small 1Br + 1 walking distance from my work and convenient for the fiancée's school and work)
Utilities:$160(Electricity, internet, and phone bill)
Work lunches out:$90(I pack a lunch most days, but eat out with co-workers every Friday)
Restaurants:$350 (My fiancée is a foodie and eating out at nice places in Toronto's awesome restaurant scene is something we thoroughly enjoy. Almost all of this is planned nights out or brunches. Very little fast food or eating out because we were too lazy to cook.)
Household:$160 (Furniture, dishes, decorations, odds and ends.)
Public transportation:$70
Entertainment:$100(Video games, movies, theatre, Netflix, museums, etc)
Clothes:$40
Alcohol:$50
Gifts:$20
Charity:$20
Misc:$40
Vacation and traveling:$220(The bulk of this gets spent in one or two months, but this would be the cost averaged over 12 months.)
 
Total: $3180
Net income: $4700

That's very close to a 33% savings rate, which is not great. It will go up as my fiancée graduates from school and finds full-time employment, and as I continue to climb the ladder at work.

Melody

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Re: What's your budget?
« Reply #9 on: October 30, 2013, 09:28:49 AM »
Over the last year (I've recently set myself more strict targets, with a move to a different town).

Per month:
Rent = $340
Groceries = $210
Transport = $170 (public transport + new bike last week)
Social = $140
Medical = $20
Sport = $10
Hair = $30
Phone = $15
Uni = $180
Clothes = $65
Travel = $90

Total = $1270

Do you have a journal on here! This is amazing, I would love to read more about how you do it!
Hair seems kinda high, but I guess it's a priority for you.

limeandpepper

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Re: What's your budget?
« Reply #10 on: October 30, 2013, 10:57:55 AM »
I don't do budgets but these are my estimated monthly expenses:

Rent - $375
Utilities (Electricity, Gas, Water, Internet, Phone) - $115
Private Health Insurance - $65
Other medical or well-being - $40
Clothing/Shoes - $60
Hair / Personal Care - $25
Public Transport - $110
Food / Groceries / Household - $220
Eating out / Entertainment / Socializing / Events - $150
Gifts / Donations - $20
Martial Arts - $90
Holidays / Travel - varies wildly per year, but let's say $150
Miscellaneous - varies wildly per month, but let's say $30

Estimated Average Monthly Total - $1450

imbros

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Re: What's your budget?
« Reply #11 on: October 30, 2013, 03:06:21 PM »
I don't really do budgets either. Since I recently moved closer to work and sold the car, going forward, my budget roughly looks lke this.

$800 Rent+Utilities+phone etc.
$250 Food + Toiletries etc.
$100 Entertainment & Other spending
$50 Misc.
Total: $1,200


oldtoyota

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Re: What's your budget?
« Reply #12 on: October 30, 2013, 03:16:49 PM »
Are these all for single people?

dadof4

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Re: What's your budget?
« Reply #13 on: October 30, 2013, 03:53:14 PM »
At the risk of getting kicked off the forum for anti-Mustachianism...

Mortgage (interest, tax & insurance)                      1250
Childcare                                                                1000
Groceries                                                                1300   (yes, it's high)
utilities - water, gas, electricity, garbage                 300    (yes, it's high)
House cleaner                                                          160    (down from 300, go me!)
Car payments                                                           230
car insurance                                                            100
Gas                                                                            200
internet/tv/phone                                                       85
Kids activites                                                             200
Clothes, misc shopping                                             150
FUNd                                                                          200 

Total                                                                            5150
The good news is that there is a lot of fat to cut. If I lose my job (or more optimistically, when I retire), I can take care of the smaller kids myself, lose some fancy food,  sell one car, clean the house ourselves, lose the FUNd. Which brings it down to $2700.





4alpacas

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Re: What's your budget?
« Reply #14 on: October 30, 2013, 04:01:57 PM »
Are these all for single people?

I'm married.  My entry is what I spend every month because we haven't joined finances yet. 

Feel free to give me face punches.  I know there are areas that need to be cut. 

BayIslandSaver

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Re: What's your budget?
« Reply #15 on: October 30, 2013, 04:19:08 PM »
Our average monthly (couple living in SF Bay Area):

Rent - $1775
Car & Renter's Insurance - $75
Utilities & Internet - $125
Car Registration & Maintenance - $50
Gas - $250
Gifts - $200
Groceries/Household Stuff - $250
Eating Out - $400
Public Transit - $100
Clothes/misc. shopping - $50
___
$3275/month

Our eating out had gone up $200 since we paid off all our SL debts and DW got a FT job...I realize it's not pretty, but it's hard to resist all the food options.  Our rent is on the high side (we actually downsized recently too). 

oldtoyota

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Re: What's your budget?
« Reply #16 on: October 30, 2013, 05:43:46 PM »
Our average monthly (couple living in SF Bay Area):

Rent - $1775
Car & Renter's Insurance - $75
Utilities & Internet - $125
Car Registration & Maintenance - $50
Gas - $250
Gifts - $200
Groceries/Household Stuff - $250
Eating Out - $400
Public Transit - $100
Clothes/misc. shopping - $50
___
$3275/month

Our eating out had gone up $200 since we paid off all our SL debts and DW got a FT job...I realize it's not pretty, but it's hard to resist all the food options.  Our rent is on the high side (we actually downsized recently too).

The above sounds good for the Bay Area. It would be considered high by ERE folks, probably.



Milehimama

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Re: What's your budget?
« Reply #17 on: October 30, 2013, 05:52:02 PM »
Wow that's for singles?  Ours is $4k per month, we are renters at $1350 per month, we have 10 children.

gimp

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Re: What's your budget?
« Reply #18 on: October 30, 2013, 05:59:55 PM »
At the risk of getting kicked off the forum for anti-Mustachianism...

Mortgage (interest, tax & insurance)                      1250
Childcare                                                                1000
Groceries                                                                1300   (yes, it's high)
utilities - water, gas, electricity, garbage                 300    (yes, it's high)
House cleaner                                                          160    (down from 300, go me!)
Car payments                                                           230
car insurance                                                            100
Gas                                                                            200
internet/tv/phone                                                       85
Kids activites                                                             200
Clothes, misc shopping                                             150
FUNd                                                                          200 

Total                                                                            5150
The good news is that there is a lot of fat to cut. If I lose my job (or more optimistically, when I retire), I can take care of the smaller kids myself, lose some fancy food,  sell one car, clean the house ourselves, lose the FUNd. Which brings it down to $2700.

How in the blazes are you able to eat $1300/month? I really must know how that's possible. Do you have 20 people in your house?

oldtoyota

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Re: What's your budget?
« Reply #19 on: October 30, 2013, 06:48:58 PM »
Are these all for single people?

I'm married.  My entry is what I spend every month because we haven't joined finances yet. 

Feel free to give me face punches.  I know there are areas that need to be cut.

Since you want feedback, probably Crossfit and lunches out need to go.


dadof4

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Re: What's your budget?
« Reply #20 on: October 30, 2013, 09:57:31 PM »
How in the blazes are you able to eat $1300/month? I really must know how that's possible. Do you have 20 people in your house?
6 people. It also includes cleaning supplies or other things from the store , the occasional fast food or restaurant. I admit it's high.

Strangely, it used to be even higher until very recently...

Nudelkopf

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Re: What's your budget?
« Reply #21 on: October 31, 2013, 05:41:23 AM »
Over the last year (I've recently set myself more strict targets, with a move to a different town).
Per month:
Rent = $340
Groceries = $210
Transport = $170 (public transport + new bike last week)
Social = $140
Medical = $20
Sport = $10
Hair = $30
Phone = $15
Uni = $180
Clothes = $65
Travel = $90

Total = $1270
Do you have a journal on here! This is amazing, I would love to read more about how you do it!
Hair seems kinda high, but I guess it's a priority for you.
I'm a bit embarrassed, because I'm single and all that money is just for me. I don't have a journal, but for the coming year, I'm basing my budget around what I'd have if I was surviving on Centrelink's payments (aka the dole) ($315/week).

Melody

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Re: What's your budget?
« Reply #22 on: October 31, 2013, 06:26:53 AM »
I spend double what you spend :( and my uni costs are 100% covered by my employer!
Interestingly my car, bike, public transport costs were only 180 a month this year - including a speeding fine, new tires and service for the car, long distance relationship (SO lives 3 hours away by car) and we spent the same on hair and groceries. International travel, clothes and entertainment are clearly killing me. Looking to address the last two next year, but keep the travel, although I do plan to do it frugally. (Rent is also double, but Perth rents are insane and I've got a good deal for the area I am in which I love and living with only one friend, so I don't think I could cut this without cutting back my quality of life - either dealing with bathroom rushhour and kitchen chaos by inviting a 3rd person into this tiny place, or moving further out.)
How do you get your phone bill to $15 a month? Do you use Skype?

4alpacas

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Re: What's your budget?
« Reply #23 on: October 31, 2013, 12:53:07 PM »
Are these all for single people?

I'm married.  My entry is what I spend every month because we haven't joined finances yet. 

Feel free to give me face punches.  I know there are areas that need to be cut.

Since you want feedback, probably Crossfit and lunches out need to go.

I guess I know...but I think I just need a kick in the butt.

Kipp

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Re: What's your budget?
« Reply #24 on: October 31, 2013, 02:17:09 PM »
Well I am actually married and in my mid 20's (both age 26).  Our joint budget with monthly averages is as follows:

Take Home Pay: 4,745 (371/mo into retirement pretax)

Save/Give:
ROTH IRA's - 280
Donations - 390
Total Save/Give -670

Monthly Expenses:
Mortgage - 880 (should close next week, will also drop to about $800 once primary residence is established)
Utilities - 210 (estimated on home I am purchasing by my normal usage while renting)
Student Loan -215
Car Loan - 242 (ya, I know, punch myself in the face)
Cell Phone - 38
Internet - 37
Life Insurance - 44
Gas - 260 (should be less, I am just in estimating mode until the house is finalized)
Groceries, Personal, Misc - 440
Dining Out - 108
Additional Debt Payments - 770
Total Monthly -3244

Irregular Bills:
Car Insurance - 137 (I pay every 6 months)
Car Maintenance Fund - 75
House Maintenance Fund - 125
Gifts -100
Total Irregular -437

Other Income
Interest + 25
EPA Car Reimbursement +10
Credit Card Cash Back +25
Total Other Income +60

Total Net Per Month +454

Other Information:
Auto Loan: Current Balance of $11,853 (3.75%)
Student Loans: Current Balance of $21,000 (repayment starts on 1/3/14, avg 3.91%)
Mortgage: Balance will start at $99,960 (first payment due on 1/1/14, 5%)

I currently have a large checking account balance (at $13,000 right now) to pay for closing costs and then putting an extra $2600 immediately towards to loan.  I also expect to pay taxes this year for ROTH IRA conversions, so I need to leave about 2k on hand for that as well.

**Edit: Corrected dates from 1/1/13 and 1/3/13 to 2014
« Last Edit: November 01, 2013, 05:39:17 AM by Kipp »

Nudelkopf

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Re: What's your budget?
« Reply #25 on: October 31, 2013, 03:22:49 PM »
I spend double what you spend :( and my uni costs are 100% covered by my employer!
Interestingly my car, bike, public transport costs were only 180 a month this year - including a speeding fine, new tires and service for the car, long distance relationship (SO lives 3 hours away by car) and we spent the same on hair and groceries. International travel, clothes and entertainment are clearly killing me. Looking to address the last two next year, but keep the travel, although I do plan to do it frugally. (Rent is also double, but Perth rents are insane and I've got a good deal for the area I am in which I love and living with only one friend, so I don't think I could cut this without cutting back my quality of life - either dealing with bathroom rushhour and kitchen chaos by inviting a 3rd person into this tiny place, or moving further out.)
How do you get your phone bill to $15 a month? Do you use Skype?
I bought a $1200 bike last week, so that's why my 10 month average is a bit high. There's no public transport in my new town - boooo. My rent is also low because I moved back in with my parents for 2 months, and now I'm in teacher housing paying $35/week (!!)b(It's subsidized because I moved out bush). I was paying $170/week in inner-city-ish Brisbane, with 3 other housemates. And my phone is an old dumb flip phone - Optus pre-paid $30 lasts 60 days. I never go through all of my credit since I have free calls to my Mum, and free texts to all of my frequent-texting-friends. And you should definitely keep the travel!! I plan on doing a bit more travel now that I'm a real teacher & not a student, so I might up my travel budget too.

kolorado

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Re: What's your budget?
« Reply #26 on: November 01, 2013, 02:21:34 PM »
Family of five, I'm a homeschooling mom and hubby works in manufacturing. We have two cars, a 1500 square foot house and half an acre in a rural suburb of a very large city.

Housing(mortgage, insurance, taxes): 980
Utilities(gas, electric, water, sewer, trash): 300
Transportation(gas, maintenance and registration): 200
Auto Insurance: 115
Internet, phones: 130
Groceries: 325
Home/health and grooming: 25
Deductible medical expenses: 50
Education(includes swim classes): 150
Clothes: 50
Pocket money and allowances: 145
Birthdays: 83
Total: 2553 month or about 30K per year

Not included in the above is vacation, which varies from $1200-2400 a year but isn't in the monthly budget, medical insurance from hubby's workplace, and donations/charity because that's nobody's business but our own. I also don't budget in the 401K savings or our general savings. The budget is just for spending. Also, I spend on decorating and home maintenance but that money is free money I earn from Swagbucks, credit card rewards and other reward programs. When I have money earned from those things to spend, something gets fixed up. It's usually in the $50-75 a month range.
I was also conflicted as to whether or not to include our car payment and ultimately left it out. We saved cash to buy it but when we finally decided what we wanted they offered 0% financing. So our savings is making money while we take 5 years to pay off the car.
I'd love to try Mint but I'm afraid I'd get too addicted to the stats. :/


4alpacas

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Re: What's your budget?
« Reply #27 on: November 01, 2013, 02:28:29 PM »
kolorado, I love Mint!  You should definitely try it out.  I like it because it keeps track of my spending even when I'm too busy to keep up with it.  I also like that I'm able to look back at previous years (been with Mint for over 5 years). 

xenon5

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Re: What's your budget?
« Reply #28 on: November 29, 2013, 03:32:29 PM »
22, living in dad's attic.

My expenses are low enough that I don't budget, though this is how it's turned out according to mint.
food: $200-300.  Eating 3000 calories a day to bulk up.
transportation:  $0-160 reimbursed.  Work reimburses me for $500 of public transit per year, after that I'm on my own.  I've been working from home for 4 weeks so not much transportation expenses lately.  I have no car.
alcohol:$15-30
eating out:$10-$30
cash:$40.  I don't track my cash spending but it's mostly things like milk, eggs, $3 sandwiches or gum from bodegas that don't take cards
random things from amazon:$50-$100. Lately fitness equipment like a pull up bar, jump rope, and scale.


So my spending comes out to $300-600 per month, the rest of my income is poured into student loans.  I'm also putting $100-$200 aside a month as a sort of emergency/first apartment deposit+1mo rent fund.  I'll be moving out some time around April-August, and I expect to pay around $500-$800/mo to share an apartment with someone.
« Last Edit: November 29, 2013, 03:50:46 PM by xenon5 »

athomeintheworld

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Re: What's your budget?
« Reply #29 on: December 01, 2013, 09:02:19 PM »
Oh wow.  You guys are all putting me to shame! 

Early 30's.  1 baby.  This is embarrassing, seriously.  But now we are on the right track right???  Thankfully in our prior high spending lifestyle we did not have any non-mortgage debt.

Average from Mint for past 12 months:
Groceries - 894
Restaurants - 304
Auto - 291
Entertainment - 46
Utilities - 330
Gift - 138
Health/Fitness - 61 (we do NOT belong to a gym/etc - includes random yoga classes, my husband running a marathon, bike helmet etc)
Personal Care - 99
Household Items - 78
Shopping - 946 (to be fair - includes a lot of Home Improvement purchases that I did not previously split up)
Pets - 161
Travel - 714

NEW POST-MMM BUDGET
Groceries - 600
Restaurants - 50-100
Auto - 200-250
Entertainment - 25
Utilities - 200-250
Gift - 100
Health/Fitness - 50
Personal Care - 75
Household Items - 75
Shopping - 100
Pets - 50
Travel - 200-400 (average, spent in chunks throughout year)

Best part, is so far post-MMM budget is working!!  Excited to see if we can decrease spending even further.

« Last Edit: December 02, 2013, 09:43:14 AM by zsmom »

nikki

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Re: What's your budget?
« Reply #30 on: December 02, 2013, 04:58:23 AM »
27 year old single woman in South Korea.

I had two visitors this year for 3.5 months total, causing some numbers to be higher than for me alone.

Average expenses for January-November 2013 in Korean won (KRW). 1,000 South Korean Won equals 00.95 US Dollar (today).

Rent                 Free. Provided by employer.
Electricity          16,475   
Gas                  18,095   
Water/trash       10,832   
Phone               11,580   (lower per month than this now; I had an 80k bill at the beginning of the year before I set up prepaid service)
School Lunches   48,300   
US Spending      147,802   (documents for job applications and, notably, round-trip flights from Korea to America for January. I keep all US expenses separate and convert to won)
Groceries           177,114   
Convenience Food  85,588   (restaurants, snacks, street food)
Entertainment     16,159   (alcohol, event admission)
Travel               86,390   (includes guided trips I took with my boyfriend when he visited and public transit)
Medical             27,362   (for me and my cat)
Misc. Shopping   90,026       (postage, cleaning supplies, cat stuff, gifts, supplies for my classes, all sorts of crap)
TOTAL AVERAGE  735,722 ~$695.81 USD


Savings rate: 74.25%
« Last Edit: December 02, 2013, 10:19:55 PM by nikki »

lovesthesea

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Re: What's your budget?
« Reply #31 on: December 02, 2013, 08:23:46 PM »
We are a couple living in the U.S. with a cost of living index of 120 (average is 100).

Personal Expenses
$455 rent (absolute cheapest 375-square foot studio apartment available, with reduced rent because I sweep out the laundry room)
$75 electricity (all other utilities are included in rent)
$26 landline with an old-fashioned answering machine
$500 food (natural food store)
$50 car insurance
$180 gasoline
$50 eating out
$235 health insurance
$50 misc. (car maintenance, etc.)

Total $1621

We also spend about $1500/month on running our two businesses.   
We save about 40-50% of our monthly income.   

Note: I really don't like talking on a cell phone so the landline is a personal splurge; we have cell phones for business.



RedMaple

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Re: What's your budget?
« Reply #32 on: December 02, 2013, 11:02:17 PM »
Late 20's, single, living in my own apartment in a very large/expensive city. My budget now is nearly perfect, but I am not willing to change my housing. Something that my budget doesn't show are my investments. This year I started reading financial blogs and have allocated my portfolio. (sorry about the formatting)


    2013 Avg p/m
 Rent        $1,294.05
 Grocery             179.50* for the last 5 months grocery + dining out was net under $200
 Dining out       42.95*
 Cable/Internet       30.84
 Transportation       61.79
 Cell Phone       54.72* as of July, my cell phone plan is $10 per month
 Con Ed               62.99
 Hair               50.41* after posting to MM, I stopped colouring/doing my hair in August.
 Clothes               47.16
 Electronics       24.26
 Pharmacy       35.77* as of Jul, I made a point to use coupons/buy stuff on sale in advance
 Maintenance       29.40
 Other                8.89
 Shoes              27.67
 School                1.73
 Shopping              11.38
 Presents              30.78
 Health care      88.17
   
 Ave Exp.     $2,082.45

Elaine

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Re: What's your budget?
« Reply #33 on: December 04, 2013, 11:23:29 AM »
I'm 26, live with my SO but we keep money separate so this is just my expenses, not his.

I spend $1,300 a month. Here's my breakdown:

$750 rent (in nyc, so that's why it's a bit higher than many people on here)
$150 (utilities, internet, phone. it's never actually this much, I overbudget and any extra gets rolled into savings, gives me peace of mind)
$100 metrocard
$100 groceries (we also do bulk shopping at costco a couple times a year which you don't see here, that's why you don't see pharmacy or home goods like cleaning supplies. Usually I spend about $400 a year at costco, so I suppose you could add that onto my expenses if you want to. That would put my monthly spending at 1,333ish.)
$100 entertainment (this includes beers, going out, date night, all of it)
$100 miscellaneous (I know some people don't think it's a good idea to have a miscellaneous budget, but I'm very disciplined with money spending so it works for me. One thing I would use this for is cat food, for example, we can't get the brand my cat eats (he has stomach issues) at costco, so every three weeks or so I pay about $12 for cat food- that would come out of this. If I buy a gift for someone, it comes out of this. This is NOT for fun money or random crap, it's for real necessary expenses that come up.

You'll also notice I don't have stuff like "clothing" on here. That's because I think people overestimate what they need, I can tell if I need clothing and I shop frugally, according to what I need. Since I'm frugal I always have enough money to cover what I need. For example this year I bought winter boots since mine literally had a hole in them. 

etselec

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Re: What's your budget?
« Reply #34 on: December 04, 2013, 01:00:16 PM »
24, single. I don't really budget in a fixed way, so these are averages.

$475 rent
$25 phone
$65 utilities (internet, gas, electric, split with housemates)
$40 transit (bike supplies & maintenance, plus occasional public transit)
$175 groceries & household items
$75 restaurants (most of this while traveling)
$35 medical (co-pays, prescriptions)
$190 travel (I travel on the cheap, but average 2+ weekends/month traveling, so it adds up...)
$85 entertainment & hobbies (mostly a few weekend event admissions)
$30 clothing (mostly shoes, some work clothes)
$15 electronics
$5 gifts
$10 misc. (mostly work expenses)

=$1,225/month

If not for my hobbies, which involve a lot of travel, I could probably keep it under $1,000 easily.

Cromacster

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Re: What's your budget?
« Reply #35 on: February 07, 2014, 07:30:28 AM »
26, Married.  Always room for improvement, but we do pretty good for 2 people.

Mortgage:1168
Internet: 58.79
Cellphone(2): 75.36
Garbage:23.58
Water:30.12
Electricity/Natural Gas:116.60
Auto Insurance(2):117
Crossfit:245
Gas:211
Groceries:467.08
Dog: 80
Parking:102
Misc(Bars, eating out, etc): 203.58

Total: 2898.11

Would be nice to get the groceries down.  Parking is always a bummer.  The bus is 85 a month and takes about 45min each way.  Driving takes about 10min each way unless there is a snowstorm.  We decided that our time was more valuable in this case.  I know, there are other costs associated with driving, but 1 1/2hr commute, vs 20 min.  Which would you choose?


oldtoyota

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Re: What's your budget?
« Reply #36 on: February 07, 2014, 05:21:11 PM »
If I posted my budget, I'd probably start a riot. LOL. However, we save around 50%...

Albert

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Re: What's your budget?
« Reply #37 on: February 07, 2014, 05:59:32 PM »
If I posted my budget, I'd probably start a riot. LOL. However, we save around 50%...

Same here, similar savings rate...

There are a lot of useful threads in community and plenty of good advice, but I have a feeling that more than a few discussions have degenerated into "keeping up with Joneses" only in reverse. See how cool I'm in spending less than you or saving more than you!!! I think it's only slightly more healthy than the original thing... And then some people almost desperately seek validation of their life choices. Seems kind of insecure to me. We all have to reconcile our wants with our financial targets and actual income, but there is more than one or two ways to do it.

Another unsolicited advice for those who are not deeply in debt and have a regular non-minimal income - definitely save and invest for your retirement/FI and have some emergency savings, but don't make your current life miserable by trying to save (or earn) extra 10-20%. Time is the only thing you can't get more of later...

In general I'm careful with money, but once or twice a year I spend couple thousands for vacation traveling just because I want to and have enough money in the bank for it. Going to Oman this March for 2 weeks and I couldn't care less if someone thinks it's wasteful :)

oldtoyota

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Re: What's your budget?
« Reply #38 on: February 08, 2014, 06:21:27 AM »
If I posted my budget, I'd probably start a riot. LOL. However, we save around 50%...

Same here, similar savings rate...

There are a lot of useful threads in community and plenty of good advice, but I have a feeling that more than a few discussions have degenerated into "keeping up with Joneses" only in reverse. See how cool I'm in spending less than you or saving more than you!!! I think it's only slightly more healthy than the original thing... And then some people almost desperately seek validation of their life choices. Seems kind of insecure to me. We all have to reconcile our wants with our financial targets and actual income, but there is more than one or two ways to do it.

Oman sounds amazing! I agree that some do need validation, and some want to be just like MMM. But, we aren't MMM. He is a whole different person! We will all come to our own ways of achieving our goals.

Although my spending is high now, my projections have it going down quite a bit during retirement. That alone leaves me with not having to make as much. I actually just learned I could retire/be FI waaaay earlier than I thought. Believe it or not, it was not a comfortable feeling. So, I solicited advice here to get comfortable with it. Some great ideas have been presented to me.

My personal focus is no longer on my budget. Rather, it's on getting the foundation in place for what I want to do when I am done with the regular work world. Some of what I want to do will take time to train for, etc, so I am getting a head start now.




Albert

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Re: What's your budget?
« Reply #39 on: February 08, 2014, 06:39:36 AM »
Oldtoyota, if you don't mind sharing approximately how old are you (I'm in my mid 30-ties)? You sound older than me, but on this site with some people already retired at my age I'm not sure...

ender

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Re: What's your budget?
« Reply #40 on: February 08, 2014, 08:38:32 AM »
Quote
Taxable investment   $500
Living   $500
Compassion   $38
Car expenses   $500
Phone, spotify, amazon   $50
Entertainment/dating/eating out/misc   $150
Cash savings   $500

Not including tithe or pretax deductions.

"Living" is rent, utilities, shared food expenses. Compassion is Compassion International.

Yes, my car expenses are equal to my living expenses since I commute 60 miles a day and yes, I am well aware this is a lot :)

Emilyngh

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Re: What's your budget?
« Reply #41 on: February 08, 2014, 09:14:38 AM »
Cool idea!

We are a family of myself, DH, a daughter, and a stepdaughter.

$808 housing
$465 child support
$500 medical insurance (for the 4 of us)
$100 FSA for medical co-pays and dental expenses
$500 groceries
$120 all insurance (cars, term life, etc)
$20 water
$75 heat
$100 electric
$25 clothing
$25 gym/activities
$150 allowances Dh and self (all eating out, extra clothing, etc)
$20 car tax/registration
$100 gifts (includes saving for xmas)
$55 house (maintenance,etc)
$17 phones
$100 internet/tv

total = $3,180

This does not include spending on renovation projects (haven't tracked well yet but have spent probably around $10k over the last 4 years), taxes or savings.   So, looking at it it looks not super mustachian, but I am happy about where we are with savings and on the road to FI, so I'm good with it.  The CS ends in about a year and half, so even with helping with college that will free up that money for saving.   If one takes out child support and the mortgage, this puts us right at $2000 a month (or $24,000 a year). 

 The other crazy thing is that as lavish as the budget looks, my friends/peers with similar salaries seem to be in disbelief that we can live like we do and save, so it's just odd that what's lavish here is thought of as crazy and impossible without deprivation in another world.

zolotiyeruki

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Re: What's your budget?
« Reply #42 on: February 14, 2014, 09:06:55 AM »
My wife has the ledger at home (yes, we use an old-fashioned paper ledger, just like my 75-year-old mother does!), so I don't have all the numbers exactly, but here are the rough numbers for our monthly budget.  Family of 7:

$2,450 Mortgage, property tax, insurance
$   770 Charitable contributions
$   500 "Short term savings" - infrequent, yet expected expenses (car insurance, HOA dues, savings for vacation, Christmas, etc)
$   500 Utilities - water, sewer, electric, gas, internet, phone, cell, also includes monthly expenses like kids extracurriculars
$     80 Car (gas)
$   900 Groceries
$   100 Home Improvement
$     50 Clothing
$     40 Homeschooling (the major purchases at the beginning of the year come from short term savings)
$   100 Entertainment (eating out, babysitter)
$    ??? Miscellaneous - gets whatever is left in the budget

samburger

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Re: What's your budget?
« Reply #43 on: February 14, 2014, 09:54:13 AM »
Married couple, no kids, mid-twenties.

Groceries = 400
Gas = 350 (long commute, but free rent--temporary trade off)
Cats = 50
Restaurants = 150
Booze = 50
Household = 50 (slowly furnishing the place)
Misc = 50
Phone = 75
Car insurance = 80
Travel = 100

Total spending budget = 1,400/mo

Cash savings = 2,700 (this line will get invested eventually, building cash reserves for now)
401k contributions = 1,300/mo

Total savings budget = 4,000/mo

It's pretty rosy on paper, but we're only in our third month of figuring out what we actually spend. I'd say the budget is 90% figured out, but I know we have spending categories that haven't come up yet...

horsepoor

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Re: What's your budget?
« Reply #44 on: February 14, 2014, 10:10:06 AM »
Married, but husband and I keep our finances mostly separate.  In our 30's.

Mortgage $943 (mortgages for our home and our rental are within $10 of each other, so we each pay one)
Car loan $291 (though I pay extra)
Student Loan $190 (1.85%, so I don't pay extra)
Board for 2 horses $425
Groceries $400 (this has improved - husband covers CostCo buys and most meals out, so overall bill for two of us is higher)
Utilities $150ish (need to go back over a year of bills and see what it really is)
Gym $18
Cell phone $28
Insurance $75 (financed car, old truck and horse trailer)
Pet stuff $150 (2 horses, 2 dogs, chickens)
Hair $50 (*face punch!*)
Clothing $30 (this year, much higher last couple years)
Gas $100
Other stuff $200 (lunches out, personal care items, race fees, entertainment - this is an estimate, I don't budget it too strictly)Total: $3050

Right now the rest is going to building and EF and paying off a low-interest CC before the rate jumps in October.  Husband's budget is probably around $2K, so we probably deserve a big face punch fest for spending $5K a month for 2 people.  It will be nice when we can get down to one mortgage and no car payments.

tracipam

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Re: What's your budget?
« Reply #45 on: February 14, 2014, 07:50:15 PM »

I don't worry about budgeting per se, although I track what I spend; I target spending one paycheck (net) per month, after all health insurance, payroll deductions, etc are taken out. 

So. my monthly target is: $1800.  Floats a little bit.  This is just for me! I lead an awesome and luxurious life. :-) 

Of it, I spent (based on last year's averages):

~$200 on groceries and alcohol
~$150 on non-grocery shopping (including clothing)
~$70 on eating out
~$60 on gas
~$660 on my mortgage (and property tax)
~$100 on gas and electric
~$50 on water
~$60 on gifts, etc.
~$40 cell phone
~$100 on all sorts of insurance (home, car, rental property)
The balance (about $300) goes to my amusement (vacation, tickets to shows, etc; CSAs, gym and other personal splurges), and home/car repairs when needed. 

 I also save about 66% of my net income.

honeybbq

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Re: What's your budget?
« Reply #46 on: September 25, 2017, 12:39:25 PM »
If I posted my budget, I'd probably start a riot. LOL. However, we save around 50%...

Us, too. We don't really have a budget anymore. We are happy with our ~50% savings rate, and as long as we save that amount, I don't really care (too) much what we spend the extra money on.


Saskatchewstachian

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Re: What's your budget?
« Reply #47 on: September 25, 2017, 01:47:06 PM »
If I posted my budget, I'd probably start a riot. LOL. However, we save around 50%...

Us, too. We don't really have a budget anymore. We are happy with our ~50% savings rate, and as long as we save that amount, I don't really care (too) much what we spend the extra money on.

With you on this one, Not going to post the full breakdown however spending is ~$5000CAD or $4100USD per month. It's much more boglehead territory than MMM but slowly working on it. We still have a 64.4% savings rate and about 75% is fixed expenses (mortgage, taxes, utilities,etc) so there is not a huge pressure to drop the 25% by a massive amount.

Facepunches expected....

honeybbq

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Re: What's your budget?
« Reply #48 on: September 25, 2017, 02:33:31 PM »
If I posted my budget, I'd probably start a riot. LOL. However, we save around 50%...

Us, too. We don't really have a budget anymore. We are happy with our ~50% savings rate, and as long as we save that amount, I don't really care (too) much what we spend the extra money on.

With you on this one, Not going to post the full breakdown however spending is ~$5000CAD or $4100USD per month. It's much more boglehead territory than MMM but slowly working on it. We still have a 64.4% savings rate and about 75% is fixed expenses (mortgage, taxes, utilities,etc) so there is not a huge pressure to drop the 25% by a massive amount.

Facepunches expected....

I'll make you feel better. Our mortgage and property tax alone are more than 4100/month in a HCOLA. :)

remizidae

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Re: What's your budget?
« Reply #49 on: September 25, 2017, 07:12:13 PM »
1500 for rent (includes utilities)
400 for groceries, cleaning stuff, pet food
250 for transportation (150 for husband's transit, 50 car insurance, 50 for gas and my transit)
200 for health insurance (subsidized by work)
67 for home internet
23 for Netflix
600 for all other discretionary spending (restaurants, alcohol, travel, clothing, toiletries, events, hobbies, etc.)

And the rest is saved (42%).