(Closed) Do I spend too much money?

posted 4 years ago in Home
Post # 2
1299 posts
Bumble bee

Seeing that you have a child, off the top of my head it doesn’t seem like an outrageous amount.  Plus, you live in the Bay Area which I know is super expensive (one of the most expensive areas in the country, right?)

If you feel as though it’s too much, then cut down a bit on entertainment and eating out.  What you can also do is have a separate account for the “fun” stuff (like entertainment) and only dip in that account.  But, if you already have a savings account for emergencies, then it doesn’t sound too bad to me.

Post # 3
471 posts
Helper bee

It does seems like a lot to me, but you live in an area where cost of living is way more than mine, so it’s hard to say. Do you keep a spreadsheet or app that shows which money goes where?

Post # 4
326 posts
Helper bee
  • Wedding: September 2015

Lara_11:  if you’re able to pay off all your bills and throw some $$ into savings then you’re probably good.

Post # 5
462 posts
Helper bee
  • Wedding: September 2015

One thing I used to do when I got a high CC bill to help me was go over the bill with a red pen and circle any “needless” charges, things that i could go without. Add it all up and set a goal to lower the “needless charges” on next months bill. It worked really well because I still let myself enjoy things every now and again, but was aware not to let it get out of hand.

One thing hubby and I are doing now is we have a spreadsheet that breaks down where each paycheck goes. In our savings we have different categories where it be savings, new home, vacation, emergency fund… and in checking is all the bills broken down. So each week it helps me charge less on the CC when I see how I can push that money into a vacation fund instead.

Post # 6
4238 posts
Honey bee


What’s your long-term savings and/or retirement contributions look like?


Post # 7
4029 posts
Honey bee

Lara_11:  We need more information to really know. 

1. What’s your total monthly gross income?

2. What are your other bills?

3. Do you have an emergency savings fund?

4. At what percent of your income are you funding yor retirement?

5. What are your financial goals? Long term and short term?

6. Do you have other debts?


You don’t necessarily need to answer these questions, as they are personal. However, I just posted them to show that it’s a very complicated answer. 

I would suggest posting in a money specfic forum as well. I frequent quite a few. Feel free to PM for their names if you would like.

Post # 8
1287 posts
Bumble bee

I live in the Bay Area too! Life is no joke here! I saw an article that showed how much average worth of $100 is to each state, and in California, it’s $88. We definitely have to spend more. My fiance and I spend around that much, but we can afford to do so, and it sounds like you can too. As long as your saving, I wouldn’t worry too much about it because you only have one life to live, you should enjoy it. But it doesn’t hurt just to save a bit more, and become more frugal and conscious about what you are spending it on.

Post # 9
14965 posts
Honey Beekeeper
  • Wedding: June 2011

Doesn’t seem bad at all to me.  As long as you’re satified with what you are saving for retirement and college fund for your kid, I think the rest if free game.  My average CC bill for a month is probably around 1k-1500 too for everything and it’s just me and my husband.  We already set aside what we want for retirement and savings and then some, so I don’t worry about what we spend.

Post # 10
484 posts
Helper bee
  • Wedding: September 2016

Yo, I live in Palo Alto, and that sounds totally reasonable. Life is expensive here.

Post # 11
385 posts
Helper bee
  • Wedding: February 2015

If you’re paying it off every month, then I don’t see the problem…?

Post # 12
1746 posts
Bumble bee

Have you run some financial calculators with different scenarios?  Run some numbers and see if you really prefer to eat out with friends so much (it’s convenient and fun, but much more expensive than cooking at home/taking lunches) or would you prefer money in a IRA  (you can set up an after tax IRA if you’re maxing out your 401K).  Saving more earlier on pays big dividends later on.  You have to save a lot more to catch up if you start later.  Play with the numbers and you’ll find a sweet spot where you have enough for fun now and a larger savings for later.




  • This reply was modified 4 years ago by  .
Post # 13
6628 posts
Bee Keeper
  • Wedding: June 2015

I think it looks pretty good.  I spend between 800 and 1000 most months, with a few bonus months like when I buy a plane ticket home or something.  I haven’t got kids and don’t live in a city area.  I’m also a cheapskate for the most part.  The problem comes when you can’t pay it off, and since you can, I think you’re good to go!

Post # 14
346 posts
Helper bee

Lara_11:  Call your 401K plan administrator and ask for a consultation (It’s free). I don’t want to come off as a know it all, but I don’t wedding bee is the best channel for financial advice.

Post # 15
9223 posts
Buzzing Beekeeper

Doesn’t seem too bad for the Bay, but I agree with PPs that a chat with a financial advisor will give you a better idea of what you should shoot for given your income, savings, 401k, short- and long-term financial goals, etc. 

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