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Old 09-20-2022, 09:33 AM   #1
CTR0022
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Default $200 a day

So the retirement thread got me thinking. How much does living cost you every month. Im not talking about your car payments or house payment, or your other toys. Im talking about expenses even if everything you have is paid off.

Before covid I would say all my expenses were roughly $100-$125 a day. Now it seems at minimum I am spending $175 a day, typically closer to $200 a day.

Home insurance, auto insurance, life insurance, property taxes, electric bill, water bill, groceries, gas, oil changes and vehicle maintenance, eating out once a week, cell phone bills, cable and internet, dog food, after school activities for my daughter, and so fourth.

Just curious on average what do your expenses add up to be every month/day?
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Old 09-20-2022, 09:40 AM   #2
RiverRat1
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More than most think. Why? Because it's not a number you can think and add up. It's a number you have to go back over many months to see what you actually spend.

It's the "well you can't count that from last month as it was special or rare event" But those happen every month and will continue to happen.
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Old 09-20-2022, 09:51 AM   #3
muzzlebrake
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Those of us who are retired and living off fixed income are being hit the hardest as many of us are too old or too disabled to rejoin the work force. My house has been paid off for nigh on 30 years now but it's all I can do now to not start dipping into my IRA. Food cost has gone crazy and will only get worse thru the winter. Utilities will more than double before Biden is sent packing. Gonna be tuff for many folks. LETS GO BRANDON
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Old 09-20-2022, 09:53 AM   #4
flywise
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I sure aint in the 5k month range just on necessities.
We are probably in the 1000-1500 range.
Home insurance is cheap and once a year
Vehicle insurance sucks but once every 6 months
power is 10-15 a day
water is about 5 a day
food is about 25 a day
clothes 1-2 a day
vehicle maint. 10 a day
car gas probably 10 a day
im sure ill think of more stuff but i still dont think it averages out to more that the numbers at the top of my list
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Old 09-20-2022, 09:53 AM   #5
Javelin
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Quote:
Originally Posted by CTR0022 View Post
So the retirement thread got me thinking. How much does living cost you every month. Im not talking about your car payments or house payment, or your other toys. Im talking about expenses even if everything you have is paid off.

Before covid I would say all my expenses were roughly $100-$125 a day. Now it seems at minimum I am spending $175 a day, typically closer to $200 a day.

Home insurance, auto insurance, life insurance, property taxes, electric bill, water bill, groceries, gas, oil changes and vehicle maintenance, eating out once a week, cell phone bills, cable and internet, dog food, after school activities for my daughter, and so fourth.

Just curious on average what do your expenses add up to be every month/day?

$200 a day is $6K a month which is more than I make a month. I spend about $3500 a month and that includes every dollar that comes out of my pocket, so on a month with 30 days I am around $116 a day, however once I get some loans paid off that will decrease substantially.
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Old 09-20-2022, 10:01 AM   #6
gingib
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Originally Posted by RiverRat1 View Post
More than most think. Why? Because it's not a number you can think and add up. It's a number you have to go back over many months to see what you actually spend.

It's the "well you can't count that from last month as it was special or rare event" But those happen every month and will continue to happen.
x2
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Old 09-20-2022, 10:05 AM   #7
RiverRat1
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Quote:
Originally Posted by flywise View Post
I sure aint in the 5k month range just on necessities.
We are probably in the 1000-1500 range.
Home insurance is cheap and once a year
Vehicle insurance sucks but once every 6 months
power is 10-15 a day
water is about 5 a day
food is about 25 a day
clothes 1-2 a day
vehicle maint. 10 a day
car gas probably 10 a day
im sure ill think of more stuff but i still dont think it averages out to more that the numbers at the top of my list
Home insurance - 1k/yr = 83/month
Car insurance - 2.7k/yr = 225/mn
Property tax - 4k/yr = 333/mn

Then add all the stuff you listed +/-65 per day = $2,591

Then add in "special" crap. Funerals, trips, fishing/hunting gear, tools and projects, car registration..... list never ends.
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Old 09-20-2022, 10:11 AM   #8
RiverRat1
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I tell people the only way to know what you spend is to know your exact income for months(the more the better) and use one bank account where it all gets deposited.

Keep track of what goes in and see what's left each month. BUT you have to cycle in those big once per year expenses like property tax, car insurance, house insurance, income tax (can be a + or -) etc.

Also, next time you go to Wal-mart look at the BS.. printer paper, dog food, bug spray etc. There's literally thousands of small items people buy all the time they just can't think of..
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Old 09-20-2022, 10:15 AM   #9
S-3 Ranch
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Quote:
Originally Posted by RiverRat1 View Post
Home insurance - 1k/yr = 83/month
Car insurance - 2.7k/yr = 225/mn
Property tax - 4k/yr = 333/mn

Then add all the stuff you listed +/-65 per day = $2,591

Then add in "special" crap. Funerals, trips, fishing/hunting gear, tools and projects, car registration..... list never ends.
Agreed
Itís death by a thousand cuts , property taxes +10% per year
Insurance and deductible went up on cars and homeowners

Trip to the ranch = $2-300 x 2 per month, and will get worse come November
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Old 09-20-2022, 10:27 AM   #10
Brazos Hunter
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Your question is relative to your lifestyle and income. We can live on one income but enjoy our lifestyle plus we are building a house. Originally I was going to retire in three years but I want to pay the house off first so I will in 5-6. With that said, without food or gas we can live on just under 1k/month. We don’t pay to watch commercials and hotspot our phones to get online. After I retire realistically we will be around 3-3.5k/month because of hurricane insurance.



Micheal
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Old 09-20-2022, 10:34 AM   #11
okrattler
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I don't know about every month. If I need it I buy it. If I don't,I don't. I allow myself $20 a day. That's all I'm gonna spend. If I can't buy food with the money I allow myself I skip lunch and work through the lunch hour to get overtime. Then eat a big supper.
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Old 09-20-2022, 10:43 AM   #12
CTR0022
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Quote:
Originally Posted by RiverRat1 View Post
More than most think. Why? Because it's not a number you can think and add up. It's a number you have to go back over many months to see what you actually spend.

It's the "well you can't count that from last month as it was special or rare event" But those happen every month and will continue to happen.
Mainly bc I was just curious and was thinking what it will be in 10-20-30 years.

I live well below my means, put a lot of money into savings, 401k, and investments every month. I rvw my expenses monthly and don't see much fat I could trim off.

As mentioned life is expensive and a little here and there adds up over the course of the month/year.

One person could live off $100 a day, but there is no way a young family with a couple kids could live for anything less than $200+ a day. Which is a huge problem b/c these families are likely living pay check to pay check.
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Old 09-20-2022, 10:53 AM   #13
RiverRat1
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Originally Posted by Brazos Hunter View Post
Your question is relative to your lifestyle and income. We can live on one income but enjoy our lifestyle plus we are building a house. Originally I was going to retire in three years but I want to pay the house off first so I will in 5-6. With that said, without food or gas we can live on just under 1k/month. We donít pay to watch commercials and hotspot our phones to get online. After I retire realistically we will be around 3-3.5k/month because of hurricane insurance.

Micheal
Can you list your expenses? I want to see how someone can live on under 1k per month.

Property tax alone would be that much for some people. But I can't see it being under $400 month these days for anyone who owns property.
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Old 09-20-2022, 11:04 AM   #14
Brazos Hunter
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Quote:
Originally Posted by RiverRat1 View Post
Can you list your expenses? I want to see how someone can live on under 1k per month.

Property tax alone would be that much for some people. But I can't see it being under $400 month these days for anyone who owns property.
Simple, phone, insurance, taxes and the bulk of our food we grow and harvest. It’s easy to cut back if you make it a priority because we did last year. Right now we are 100% retirement focused with our kids grown. Oh, our property taxes are currently $500/year but that will change next year after the house is complete. We full time RV and that was the biggest decision we made in order to reach our retirement goals. It takes nothing more than discipline and hard work.



Micheal

Last edited by Brazos Hunter; 09-20-2022 at 11:07 AM.
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