Spinoff: What percentage of your income goes toward cost of living expenses?

posted 4 years ago in Home
  • poll: What percentage of your income goes toward cost of living expenses? Read more: http://boards.weddin
    0-15% : (4 votes)
    7 %
    16-25% : (7 votes)
    12 %
    26-35% : (5 votes)
    8 %
    36-45% : (5 votes)
    8 %
    46-55% : (5 votes)
    8 %
    56-65% : (5 votes)
    8 %
    66-75% : (6 votes)
    10 %
    76-85% : (10 votes)
    17 %
    86-100% : (10 votes)
    17 %
  • Post # 4
    Member
    10369 posts
    Sugar Beekeeper
    • Wedding: September 2010

    Housing: $2500/month

    Utilities: $75-150 depending on season

    Dog: $60/mo for food/poop bags/treats

    Gas: $30/mo (neither of us drive to work)

    Health insurance/benefits: $53/mo

    Car insurance: $85/mo

    Internet (no cable): $35/mo

    Groceries: $430/mo

    Eating out/entertainment:$300/mo

    That leaves a little over $6000 left, of which about $1000 goes to 401k and the rest to savings, unless we make an extra purchase that month. So, living takes about 37% of our take home pay.

     

    Post # 5
    Member
    3403 posts
    Sugar bee
    • Wedding: July 2013

    I don’t have it all worked out anymore like I used to, but I guestimate about 70% is spent on cost of living, since we are still in college & work for not much more than minimum wage.

    Post # 7
    Member
    10369 posts
    Sugar Beekeeper
    • Wedding: September 2010

    @MrsSkeletonKey:  When we have a kid or kids and start paying the average of $1800/mo in daycare each, that percentage is going to reverse itself pretty quickly, hahahaha, so don’t be too jealous!

     

    Post # 8
    Member
    13667 posts
    Honey Beekeeper
    • Wedding: June 2011

    If you include emergency savings and retirement 85% of our income is spoken for.  Just basic living expenses (housing/utilities/food/gas), about 40%.

    Post # 10
    Member
    3223 posts
    Sugar bee
    • Wedding: April 2015

    Anytime I see one of these threads about living expenses, I just think that I need to move.

    Post # 11
    Member
    1134 posts
    Bumble bee
    • Wedding: October 2013

    Man… suddenly i feel really poor…. congrats to all you bees bringing in bank!

    Post # 13
    Member
    2919 posts
    Sugar bee
    • Wedding: February 1998

    @Jen51287:  yeap I agree! I definitely feel poor compared to other bees:(

    I’d have to say around 80% we really don’t have much left over each month!

    Post # 14
    Member
    3381 posts
    Sugar bee

    @bmo88:  We pay out rent, bills, food, he sends money to his parents and we have a little left over to go out or buy the kids clothes or whatever they really need, but other than that we just about break even. We don’t have any savings. If I didn’t have FI I wouldn’t even be able to afford that. I make enough to pay my rent with about $100 left over to pay all the bills/food/other necessities, not nearly enough.

    Post # 16
    Member
    3381 posts
    Sugar bee

    @bmo88:  No he doesn’t owe them any money. He comes from a country where children help their parents out as soon as they start making money. So that’s what he’s done ever since he graduated high school and started working. He’s 27 now. Since we live together and I have kids, we need more money than he used to need when he was single living with roommates. So now he only sends them $200-300 a month. And sometimes he sends money to his grandparents. Also his little brothers and sister are in school and down there they have to pay tuition to go to high school. He’s from Guatemala. There is no social security there or food stamps or medicaid or medicare or anything to help you if your crops don’t grow and you have no food. I completely understand that his parents need that money. As long as my kids have food and shelter, etc. I don’t mind if he sends money to his family instead of saving it for us.

     

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