Author Topic: Yearly Numbers...Care to share?  (Read 11263 times)

DollarBill

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Yearly Numbers...Care to share?
« on: December 09, 2014, 08:24:27 PM »
This has been the first year that I tracked my numbers and it's been an eye opener. I cut my expenses by about $1K a month last year. I retired this Nov but I've been off since mid Jul. My expenses went up but I traveled a bit and spent more than expected the last 5 months that raised my numbers. My spreadsheet is attached below.

40, Single, no kids:
House is paid off: 2700 sf (Down sizing soon because I live in too big of a house, bought before I converted)
House Taxes: $3,987 ($333)(In Kansas we have specials, mine are about $1,300 a yr. Ends in 2019)
House Insurance: $840 ($70)
Car Insurance: $606 ($51)
Food: $3,608 ($300 a month, this includes all food, toiletries and house items)
Health Care: $48 (Just started in Dec, Retired Military as of Nov)
Electric: $1,029 ($86)
Heating Gas: $793 ($66)
Water: $480 ($40)
Cable/Net: $1,163 ($103)
Trash: $192 ($16)
Phone: $636 ($53)
Car Fuel: $1,488 ($124) (Downsized vehicle in May. Had 16 MPG's to 32 MPG's. Plus traveled a lot last 5 months, about 5K miles)
Travel Fund: $1,200 ($100) (Only used $600 for travel, ongoing balance)
Emergency Fund: $1,800 ($150) (Did not use, ongoing balance that will be used for: repairs, emergencies, newer car)
Fun Money/Other: $8,159 (Avg $680 a month, Includes everything else, mostly spending money)
Yearly Total: $26,029
Avg Monthly: $2166
« Last Edit: December 10, 2014, 08:46:53 AM by DollarBill »

Purple Economist

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Re: Yearly Numbers...Care to share?
« Reply #1 on: December 09, 2014, 09:27:38 PM »
Where in Kansas are you?  Are you around Ft. Riley?  My wife and I are from Kansas originally (Topeka) and lived in Manhattan for four years when we first got married.  We were gone for five years, but were able to move back to Manhattan in August.

Zikoris

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Re: Yearly Numbers...Care to share?
« Reply #2 on: December 09, 2014, 09:48:37 PM »
We're at $25,433 so far. Two people. Few more weeks to go though.

Monthly amount in brackets. For the insanely high travel amount, that was a portion of our Guatemala trip expenses in January (mostly paid for last year, this was mostly us deciding to go to a fancy volcanic hot springs spa for a full day), summer Europe trip to Hungary, Austria, Switzerland, and France, one long weekend trip to the boonies to visit relatives, and our upcoming Hong Kong trip next January that we've mostly paid for (just need to get currency).

Rent/insurance/housing expenses - 9359 (780)
Travel - 7935 (661)
Food - 2989 (249)
Entertainment- 1398 (116)
Shopping - 1237 (103) <--- Mostly electronics/ebooks, also clothing, shoes, furniture, stamps, random things
Bills - 956 (80) <--- Cell phones and internet
Personal care - 718 (60)
Bikes and bus tickets - 464 (38)
Cat - 288 (24)
Other - 84 (7)

More than we expected to spend, but fine.

DollarBill

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Re: Yearly Numbers...Care to share?
« Reply #3 on: December 10, 2014, 06:26:10 AM »
@Purple Economist: I'm in Wichita

@Zikoris: Very impressive numbers since Vancouver is expensive and you got to travel to all those places.

I'm still looking for somewhere else to cut but I think I reached my limit. Except for the fun money, I could shave off some but I think it would move me into the pain zone. Plus some of the fun money included other things like: $363 Tow hitch/Car Carrier, $381 tires, $1100 travel, $125 passport, $300 clothes, $500 house repair.

BooksAreNerdy

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Re: Yearly Numbers...Care to share?
« Reply #4 on: December 10, 2014, 08:04:23 AM »
I tried posting ours, but upon double checking not all of the numbers were right. I think I can safely say we spent about $50,000. We have only been cutting costs since August. Our home is for sale and we are looking to downsize and move into town. So, I expect housing and transportation will drop significantly. I expect next year to be more like $35k spent.

skunkfunk

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Re: Yearly Numbers...Care to share?
« Reply #5 on: December 10, 2014, 08:31:47 AM »
I'll share! Good motivation to go through this exercise, I haven't yet. Pre-retirement, did not do well this year I think.

$19029 ($1585) - mortgage

$2503 ($208) - home repairs. Early in the year we paid a guy to do some stuff, everything since March has been DIY, I got much less lazy.

$6707 ($559) - car expenses. Car purchase, gasoline, insurance, repairs and maintenance. Wow, much worse than I thought.

$5901 ($492) - general spending. Includes TV, internet, phones, baby supplies, maternity clothes, bicycles, instruments, work expenses, hobbies, and other incidentals.

$843 ($70) - lawn and garden. Most of that is lawn mower and trimmer purchase.

$1321 ($110) - pets. Leukemia cat was expensive. Also accidentally had puppies, all of which died.

$4534 ($378) - food. Just me and my wife (except a couple of random foster kids here and there) until January 15th!

$1976 ($165) - health

$1162 ($97) - household supplies. Cleaning supplies, towels, whatever didn't fit in the other categories.

$420 - gifts

$200 - charity

TOTALS
$31331 (2610) not including mortgage P&I, $44596 ($3716) including it, with additional $16026 ($1335) going to pay down debt.

This puts my required money for FI in 2014 dollars at $783,275 not including home value, or around a million dollars total net worth - countdown 18 years at current rate. Need to do better!

« Last Edit: December 10, 2014, 08:42:16 AM by skunkfunk »

Lkxe

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Re: Yearly Numbers...Care to share?
« Reply #6 on: December 10, 2014, 08:33:13 AM »
oh this was fun (well maybe not) We are 4. One in college( on his own budget-mostly) Numbers from 11-11

Housing insure/interest/ property taxes  9435.76  (786.31)  with principle 19912.54 (1639.58) I was double paying- now staching
 
Utilities gas/elec/water    1730.91 (144.24)

Phones 3 smart (includes purchases last xmas)  2515.47  (209.63)

groceries  7243.41  (603.62) ----this is higher than I thought or like

auto gas/insure/2 sets of tires 3397.53  (283.13)

bad habit x2   3600  (300)

Kids lunches/fundrasiers/activities 438.60 (36.55)

Trash/paper/wardroom  673.20 ( 56.10)

clothing/shoes I am always buying the 10 yr old shoes  1234.57  (102.88)

Online services   1138.16  (94.85)

Travel/cash/stuff 1159.16 (96.60)

Allowances kids   2510 (210)

All told (and probably a little low, but just a little) 34.391
 
« Last Edit: December 10, 2014, 08:38:28 AM by Lkxe »

dude

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Re: Yearly Numbers...Care to share?
« Reply #7 on: December 10, 2014, 08:34:04 AM »
No idea.  Don't track it.  I know generally how much I spend, because it's what's left over after savings, and it's a lot.  As in a way anti-Mustachian lot. But it's sustainable and I should easily replace 100% of it when I FIRE in about 4.5-5 years.  Not that I don't look for ways to decrease it, but I'm not a budget kind of guy.

skunkfunk

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Re: Yearly Numbers...Care to share?
« Reply #8 on: December 10, 2014, 08:44:33 AM »

bad habit x2   3600  (300)


What's that?

No idea.  Don't track it.  I know generally how much I spend, because it's what's left over after savings, and it's a lot.  As in a way anti-Mustachian lot. But it's sustainable and I should easily replace 100% of it when I FIRE in about 4.5-5 years.  Not that I don't look for ways to decrease it, but I'm not a budget kind of guy.

What the hell do you do with your free time if not obsess over this stuff??

Lkxe

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Re: Yearly Numbers...Care to share?
« Reply #9 on: December 10, 2014, 08:50:07 AM »

StubbledCPA

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Re: Yearly Numbers...Care to share?
« Reply #10 on: December 10, 2014, 08:53:02 AM »
I'm happy to see that their are some other Mustachians posting on this forum from Kansas (I'm in Topeka).  I'll need to run my Quicken report at the end of the month to tally up my spending.  Going forward, I'll definitely be looking at cutting more of my expenses (and possibly combining expenses with my gf when we get a place together).

dude

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Re: Yearly Numbers...Care to share?
« Reply #11 on: December 10, 2014, 09:01:53 AM »

bad habit x2   3600  (300)


What's that?

No idea.  Don't track it.  I know generally how much I spend, because it's what's left over after savings, and it's a lot.  As in a way anti-Mustachian lot. But it's sustainable and I should easily replace 100% of it when I FIRE in about 4.5-5 years.  Not that I don't look for ways to decrease it, but I'm not a budget kind of guy.

What the hell do you do with your free time if not obsess over this stuff??

hahahaha! oh, I obsess over this stuff insofar as hitting the number, reducing spending where I can, etc., I just don't have the personality to track it via some program or spreadsheet!  Hell, I don't even know how to use Excel or any other spreadsheet program.  I learned way back in college, and haven't used one since.  When I FIRE and have more free time on my hands, I might just go take some classes!

StubbledCPA

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Re: Yearly Numbers...Care to share?
« Reply #12 on: December 10, 2014, 09:09:12 AM »
hahahaha! oh, I obsess over this stuff insofar as hitting the number, reducing spending where I can, etc., I just don't have the personality to track it via some program or spreadsheet!  Hell, I don't even know how to use Excel or any other spreadsheet program.  I learned way back in college, and haven't used one since.  When I FIRE and have more free time on my hands, I might just go take some classes!

If you were comfortable, I would definitely recommend using Mint.com to help track all your expenses for you easily.  It will give you that little extra push so you might be able to FIRE even sooner!

DollarBill

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Re: Yearly Numbers...Care to share?
« Reply #13 on: December 10, 2014, 09:19:01 AM »
Quote
This puts my required money for FI in 2014 dollars at $783,275 not including home value, or around a million dollars total net worth - countdown 18 years at current rate. Need to do better!
What's your goal? With having that much already I would think you would hit your goal sooner.

I think it's interesting how we all group things differently. Like my cleaning supplies, toiletries, dog food get lumped in with my food (Basically anything I buy from the grocery store). Or like my fun/other is entertainment, clothes, ATM withdraws (Even some travel, car repairs, home repairs if its low enough to come from my allotted fun/other budget). If its more then I will use the travel or Emergency funds.

DollarBill

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Re: Yearly Numbers...Care to share?
« Reply #14 on: December 10, 2014, 09:41:51 AM »
Quote
What the hell do you do with your free time if not obsess over this stuff??
lol...my excel spreadsheet is like crack to me! Sometimes I just stare at it, is there a way to make it my wallpaper?

skunkfunk

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Re: Yearly Numbers...Care to share?
« Reply #15 on: December 10, 2014, 09:49:55 AM »
Quote
This puts my required money for FI in 2014 dollars at $783,275 not including home value, or around a million dollars total net worth - countdown 18 years at current rate. Need to do better!
What's your goal? With having that much already I would think you would hit your goal sooner.

Well, my current net worth is only $57k. The $783k + house = the around a million number. I've been working on it a year now, I think my net worth went up about $35k this year, so yeah it is gonna be slow going.

mak1277

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Re: Yearly Numbers...Care to share?
« Reply #16 on: December 10, 2014, 09:55:55 AM »
No idea.  Don't track it.  I know generally how much I spend, because it's what's left over after savings, and it's a lot.  As in a way anti-Mustachian lot. But it's sustainable and I should easily replace 100% of it when I FIRE in about 4.5-5 years.  Not that I don't look for ways to decrease it, but I'm not a budget kind of guy.

I'm in this camp.  When I first found MMM, I (for the first time in my life) put together a monthly spending tracker.  I quickly realized two things.  First, I found tracking my expenses tedious and boring (irony - I'm a CPA).  Second, I was already saving enough to FIRE in the timeline I want.  So now I just look at net cash inflow each month and make sure it's over a certain target level...if it were to go under the target I guess I'd dig in and do some research as to why...but otherwise doing budgets is still tedious and boring for me.

BlueMR2

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Re: Yearly Numbers...Care to share?
« Reply #17 on: December 10, 2014, 10:00:12 AM »
We've been on track for $2,000/mo despite some really wacky out of the ordinary expenses this year (multiple ridiculously expensive car repairs).  So, if December is closer to "normal" we might get by at $23k, but if we keep having bizarre things happen it might be $24k.  :-)

retired?

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Re: Yearly Numbers...Care to share?
« Reply #18 on: December 10, 2014, 10:01:02 AM »
hahahaha! oh, I obsess over this stuff insofar as hitting the number, reducing spending where I can, etc., I just don't have the personality to track it via some program or spreadsheet!  Hell, I don't even know how to use Excel or any other spreadsheet program.  I learned way back in college, and haven't used one since.  When I FIRE and have more free time on my hands, I might just go take some classes!

If you were comfortable, I would definitely recommend using Mint.com to help track all your expenses for you easily.  It will give you that little extra push so you might be able to FIRE even sooner!

That's the way I did it.  I decided how much I should save in each bucket and put it on auto-pilot.....spend what is left over.  So much easier than developing a budget.  Granted, if that approach made it hard to cover expenses, then I'd turn to a budget.

My costs, family of four are about 65k.  Too much in prop tax and HOA.  Other room for improvement comes from cable, phones, etc.

DollarBill

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Re: Yearly Numbers...Care to share?
« Reply #19 on: December 10, 2014, 01:19:28 PM »
Quote
This puts my required money for FI in 2014 dollars at $783,275 not including home value, or around a million dollars total net worth - countdown 18 years at current rate. Need to do better!
What's your goal? With having that much already I would think you would hit your goal sooner.

Well, my current net worth is only $57k. The $783k + house = the around a million number. I've been working on it a year now, I think my net worth went up about $35k this year, so yeah it is gonna be slow going.
Ohhh...when I first read it I thought you had already saved the $783K

Nudelkopf

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Re: Yearly Numbers...Care to share?
« Reply #20 on: December 10, 2014, 03:46:16 PM »
Single, female, early 20s.

Income (after tax)$48,700
Expenses$18,600
Savings$30,100
Savings rate61.8%

My push goal at the start of the year was to have $12,000 in expenses, but I then spent $5000 on travel, along with a lot of other lifestyle inflation crap. My journal has a break down of expenses throughout the year, and I'll put up a final list of expenses at the end of the year.

Pooperman

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Re: Yearly Numbers...Care to share?
« Reply #21 on: December 11, 2014, 05:29:56 AM »
Guessing expenses were about 32,500. Annualized 26,000 after finding MMM. Two people mid 20s.

MayDay

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Re: Yearly Numbers...Care to share?
« Reply #22 on: December 11, 2014, 05:38:02 AM »
Does anyone know how to add up for the year on ynab?

Dances With Fire

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Re: Yearly Numbers...Care to share?
« Reply #23 on: December 11, 2014, 06:07:41 AM »
< $24,000 expenses for the year. Two adults & smaller house.

DollarBill

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Re: Yearly Numbers...Care to share?
« Reply #24 on: December 11, 2014, 06:08:38 AM »

Cromacster

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Re: Yearly Numbers...Care to share?
« Reply #25 on: December 11, 2014, 06:11:35 AM »
Wife and I had a savings rate of 47% through 2014.  Lot's of room for improvement.  2015 goal for us is 55%.

Edit:  I'm a little embarrassed to post the actual numbers, so I'll stick with the percentages that make it look better than it is :)
« Last Edit: December 11, 2014, 09:00:21 AM by Cromacster »

TheThirstyStag

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Re: Yearly Numbers...Care to share?
« Reply #26 on: December 11, 2014, 07:50:53 AM »
Last I checked I was on pace for $34000 on the year.  Family of 2.
« Last Edit: December 11, 2014, 08:57:52 AM by TheThirstyStag »

MayDay

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Re: Yearly Numbers...Care to share?
« Reply #27 on: December 11, 2014, 07:51:27 AM »
Does anyone know how to add up for the year on ynab?
http://www.youneedabudget.com/support/article/reports

Thank you! Will report back.

Reporting back:  Ok, I've never clicked on the report button before.  Thats pretty cool.  And I'm lame for never trying all the cool features of YNAB.  I should really take one of the free webinars.

Anyway, here are the results.  Keep in mind we really only started trying to reduce around March-ish. 

Housing (mortgage):  $18,900
House bills:  $8,145
Food:  $6,063
Cars:  $3,905
Kids:  $3,486
Recreation:  $2,073
Health care:  $949  (this number is totally wrong because a bunch of healthcare expenses get paid by the HSA and never get put in the budget).

The house bills category is also thrown off a bit by house repair costs being included in it.

Total for the year:  $43,521

Not bad. Family of four.  If you include our actual health care costs its probably 8K higher, though. 
« Last Edit: December 11, 2014, 08:47:43 AM by MayDay »

hoodedfalcon

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Re: Yearly Numbers...Care to share?
« Reply #28 on: December 11, 2014, 08:51:55 AM »
My living expenses total $20,454.00 so far this year.

Single woman in low COL area. But when you add student loan payments and other non-retirement savings, my outgoing is more like $37,000.00

neo von retorch

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Re: Yearly Numbers...Care to share?
« Reply #29 on: December 11, 2014, 03:34:34 PM »
While I've always been somewhat "conscious of money concepts," I've always felt a little spoiled by a decent income, so I've had some expensive habits that I've only begun to turn around this year. So 2014 is still pretty ugly for me. I had started a thread showing off my less than idea numbers here: http://forum.mrmoneymustache.com/ask-a-mustachian/case-study-what-really-happened-in-2014/

Total Income: $87,334.19
Total Expenses: $57,439.07

Investments/Savings
Deposits: $30,732.98
Dividends/Interest: $686.76
Investment Gains: $6,023.98
Fees/Charges: $576.01
« Last Edit: December 12, 2014, 11:28:21 AM by neogodless »

pipercat

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Re: Yearly Numbers...Care to share?
« Reply #30 on: December 11, 2014, 04:03:49 PM »
Prepare to feel better about yourselves:

Debt payments: $54,475 (includes house, one car, credit card, student loans)
Food: $12,658
"Accruing spending": $8956 (this is where I save for vacations, Christmas, property taxes, etc)
Kids: $6172
Utilities: $6096
Transportation: $5285
Household Expenses: $4877
Recreation: $1374
Miscellaneous: $3886

Also, there will inevitably be even more spending in the few weeks we have left of 2014.
You're welcome!

I came back to add that we are a family of four.  Two parents, and two preteens.

« Last Edit: December 11, 2014, 07:12:53 PM by pipercat »

deborah

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Re: Yearly Numbers...Care to share?
« Reply #31 on: December 11, 2014, 06:16:19 PM »
Estimate 1/1 - 31/12 just under $27k (what it is at the moment + pro rata for extra days)

NinetyFour

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Re: Yearly Numbers...Care to share?
« Reply #32 on: December 11, 2014, 06:46:59 PM »
Here are my totals so far for 2014.  I still will spend another $60 or so on groceries and another $80 or so on gasoline. Oh, and I am single, with no kids.

Coffee Shops:__$85.67
Groceries (food only):__$2265.57
Car:__$2105.87 (includes tires, maintenance, insurance, registration)
Gasoline:__$879.55
Electricity:__$508.12 (for myself and my tenant)
Gas:__$578.32 (for myself and my tenant, includes stoves and heat--and tenant's dryer)
Water/Trash/Sewer:__$523.78 for myself and my tenant)
Cell Phone:__$50.38 (yes, really--I LOVE TING!!)
Household stuff:__$97.40
House Expenses:__$627.85 (landscaper, chimney cleaning, and appliance repair)
Gifts:__$721.06 (includes $425 charitable giving)
Internet:__$429.61
Netflix:__$27.78 (signed up for a short time while suffering from injuries)
Hockey:__$1648.85 (this included some travel and lodging for out of town tournaments)
Medical:__$1001.75 (out of pocket costs)
New York Times online subscription:__$34.84
Eating out:__$148.43
Bicycle repair/maintenance:__$130.89
Campsite Fees:__$105
Out of town travel and lodging (not reimbursed by work):__$713.19 (mini-splurges in Boston and Denver)
Parking and bus fares:__$12.25
Tax Prep:__$250
Contributed toward new fridge at work:_$120
Hotels for out of town guests:__$124.84
Miscellaneous:__$35.86
Beer for Handyman:__$45.30
Mortgage:__$15,600 (minimum principal+interest+insurance+tax)
Extra Mortgage Principal Payments:__$26,600

Savings Rate, for January through November:  81%

DollarBill

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Re: Yearly Numbers...Care to share?
« Reply #33 on: December 12, 2014, 03:20:27 AM »
Quote
Beer for Handyman:__$45.30
lol

10dollarsatatime

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Re: Yearly Numbers...Care to share?
« Reply #34 on: December 12, 2014, 11:17:10 AM »
Quote
What the hell do you do with your free time if not obsess over this stuff??
lol...my excel spreadsheet is like crack to me! Sometimes I just stare at it, is there a way to make it my wallpaper?

1. FN/Prt sc buttons to take a screenshot.
2. Open paint.  Control/V to paste it in.
3. Crop off the toolbars and whatever else.
4. Save as JPEG.
5. Set JPEG as wallpaper.

You're welcome. :)

If it's a Mac, you're on your own.

step_away

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Re: Yearly Numbers...Care to share?
« Reply #35 on: December 12, 2014, 12:49:13 PM »
My annual budget is $12K (not including travel) for one person.  I don't include travel in my budget because it's funded by "free money" (i.e. mileage earned through work travel, credit card cashback and bonus, and unused PTO pay out)   

Fixed Cost:
Rent: $7,200 ($600/month for a room paid to mom and sister who own the house)
Transportation: $960 ($80/month Bart/Muni monthly pass, no car)
Internet: $120 ($10/month for a dsl line shared cost with sister, no cell phone other than provided by employer)
Medical/Dental/Vision Insurance: $876 ($73/month premium through work)

Variable Expense:
Meal allowance: $1,200 ($1,098 actual as of 11/30/2014)
Uncategorized Expense Allowance: $1,644 (Plug figure to arrive @ $12K, $1,432 actual as of 11/30/2014)
« Last Edit: December 12, 2014, 04:04:56 PM by step_away »

fartface

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Re: Yearly Numbers...Care to share?
« Reply #36 on: December 12, 2014, 09:42:12 PM »
Family of Five ~ $59,000 annual expenses

mortgage (19,680), property taxes ($6500), insurance & HOA ($1200), transportation ($4200), cell phones ($1800), cable/internet ($1200), utilities ($2000),  travel ($3000), groceries ($6500), kids activities ($1200) and Misc: clothing, sundries, orthodontist, DH's home-brew hobby, dining out ($2600) and about $9K in business expenses.

2014 Savings:
$10,800 in 403b
$11,000 in Roths
$  3,000 in 529

Sold our Boat and Rental Property over the last year and used the funds this way:

$170,000 towards paying down the mortgage
$ 45,000 in Brokerage Account (bought VDADX, REIT, VTSAX)
$ 25,000 in Savings
$ 10,000 into a custodial DRiP for my youngest child (bought AT & T)

2015 Savings Goals:

$17,400 in 403b
$11,000 in Roths
$  3,000 in 529

Anything left over will go towards killing the mortgage. I owe $58K and, according to the amortization schedule, have three years left to pay. I'd like to pay it off before the end of 2015.

Update
After re-reading my post. I felt kind of bad about my spending this year. However, the business expenses were "reimbursed" by clients. I charged them on our card, but really they were added onto client's invoices. I guess I should be separating this.

Now, we're looking at $50K in annual spending, or $10K/person.

What encourages me the MOST however is subtracting the $19680 mortgage payments. With a paid off house, I'm down to a HIGHLY mustachian $30K/year family budget. Sigh, ok, now I feel a wee bit better.
« Last Edit: December 12, 2014, 10:31:07 PM by fartface »

fartface

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Re: Yearly Numbers...Care to share?
« Reply #37 on: December 12, 2014, 10:10:26 PM »
Long time lurker.  Long past FI, but doing the OMY thing.  Posting today because I intend to be FIRE in 2016 and we have to figure out how to live on 50K a year to get there.  Don't actually budget, for years I have been just pulling out savings as #1 priority and then let the rest take care of itself.    Family of 4 + 1 au-pair

take home:      177K   (after take out for taxes, health ins)
au-pair:             14K
car/house ins:      4K  (3 cars .. I know, I know)
life ins                 2K
travel/vac          10K
sports for kids      3K  (travel soccer anyone)
property taxes    11K
camps                 2K
utilites-all            9K
house remod      25K
new furnace         9K
other savings     24K
529 savings         6K
401K plans        45K
remains:           14K -->  unaccounted for, but its food and clothing and everything else

savings rate:  42%

Is your house paid for?

How many kids? Ages?

How are you able to contribute 45K into your 401K? Are you counting employer match? The 2014 limit is $17,500/person. Just wondering.

Sounds like it will be a huge lifestyle adjustment for you guys to go down to 'only' 50K per year.

Naturally, the 3rd car can probably be your first cut. Nonetheless, a 42% savings rate is quite admirable.

fartface

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Re: Yearly Numbers...Care to share?
« Reply #38 on: December 12, 2014, 10:19:17 PM »
Prepare to feel better about yourselves:

Debt payments: $54,475 (includes house, one car, credit card, student loans)
Food: $12,658
"Accruing spending": $8956 (this is where I save for vacations, Christmas, property taxes, etc)
Kids: $6172
Utilities: $6096
Transportation: $5285
Household Expenses: $4877
Recreation: $1374
Miscellaneous: $3886

Also, there will inevitably be even more spending in the few weeks we have left of 2014.
You're welcome!

I came back to add that we are a family of four.  Two parents, and two preteens.

Wow - I think I need to know more. Can you break down the debt by category?
What are your property taxes?
Savings? Retirement?
Maybe it's not as bad as you think...?

mxt0133

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Re: Yearly Numbers...Care to share?
« Reply #39 on: December 12, 2014, 11:44:01 PM »
@pipercat - Glad that i'm not the only one with food expenses in the 5 digits.

@ninetyfour - You are my hero.

Here is our break down up until mid December.  I had a mini throw-up when I saw our Food and Dinning expense.  Then I had a bigger mini throw-up when I thought about what last year was because we significantly cut down on eating out.

Home                     $18,570.90 (rent)
Food & Dining     $14,569.64 (face-punch)
Education             $5,722.05 (CFP course)
Auto & Transport     $4,167.53
Shopping             $3,597.03
Gifts & Donations  $2,395.72 (2K one time gift to relative in need)
Travel             $1,714.60
Bills & Utilities     $1,267.09
Financial             $917.56
Kids                     $789.30
Personal Care     $726.95
Health Care          $1200

Miraculously we still managed a 50% savings rate, this can be much better but is the first year the whole family is on board the MMM train.

2015 Goal is to get it down 10% which doesn't include the education and gift totaling 7.5K.

pipercat

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Re: Yearly Numbers...Care to share?
« Reply #40 on: December 13, 2014, 09:16:44 AM »

Wow - I think I need to know more. Can you break down the debt by category?
What are your property taxes?
Savings? Retirement?
Maybe it's not as bad as you think...?

Rather than hijack this thread, I can send you to my journal.  I've detailed the debt category over there, mostly on page 3.

http://forum.mrmoneymustache.com/journals/no-more-planning/100/

I always appreciate any input from others.

fartface

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Re: Yearly Numbers...Care to share?
« Reply #41 on: December 14, 2014, 04:56:16 PM »
Long time lurker.  Long past FI, but doing the OMY thing.  Posting today because I intend to be FIRE in 2016 and we have to figure out how to live on 50K a year to get there.  Don't actually budget, for years I have been just pulling out savings as #1 priority and then let the rest take care of itself.    Family of 4 + 1 au-pair

take home:      177K   (after take out for taxes, health ins)
au-pair:             14K
car/house ins:      4K  (3 cars .. I know, I know)
life ins                 2K
travel/vac          10K
sports for kids      3K  (travel soccer anyone)
property taxes    11K
camps                 2K
utilites-all            9K
house remod      25K
new furnace         9K
other savings     24K
529 savings         6K
401K plans        45K
remains:           14K -->  unaccounted for, but its food and clothing and everything else

savings rate:  42%

Is your house paid for?

How many kids? Ages?

How are you able to contribute 45K into your 401K? Are you counting employer match? The 2014 limit is $17,500/person. Just wondering.

Sounds like it will be a huge lifestyle adjustment for you guys to go down to 'only' 50K per year.

Naturally, the 3rd car can probably be your first cut. Nonetheless, a 42% savings rate is quite admirable.

House paid for long ago.  We are at 50+.  kids 11/12.  45K  to 401K is for me and DH,  we get to do the 50+  extra contribution, and my company has something called a thrift savings feature that lets me contribute after-tax money when I reach the 17.5K limit.  This lets me contribute  a total of (I think) 33.5K per year with a mix of pre/post tax money to my 401K. 

Right now plan is for 3rd car  to go no later than Feb.   Extra car was for the au-pair but she doesn't really like to drive so bad mistake there.   

If only MMM had been around 15 years ago for us! I was paranoid thrifty when we were 20-30 and we did massive savings.  Then it never occurred to us  to RE -- just built up the savings and I wanted to be sure we could always live on 1 income.  Once the savings goal met,  we just went an auto-pilot.  Definitely an example of lifestyle creep because of lack of a plan.   

Ah, ok, beginning to see the full picture now. Thanks.

I. too, have an 11 and 12 year old (+ a 13 year old) so I can relate to the high Unmustachian cost of 'tweenagers!

I was on my walk today and thinking, man, if I had MMM's "roadmap" 15 years ago I would NOT be getting up for work tomorrow.

Sigh...all we can do is just move forward.