(Closed) Homeowners: How much $ do you have left after paying all bills?

posted 7 years ago in Home
Post # 3
Member
2892 posts
Sugar bee

We lived in a TINY apartment with a 3rd roommate before we bought our house. We were paying like $400 a month each. It was AWESOME, financially that is. I was saving anywhere from $500-700 a month. Can’t complain about that. We just bought a house and we’re paying about $750 each. Which we would have been paying anyways for a new apartment without a 3rd roommate. But the thought that I’d now be saving $200-300 if I was smart freaked me out so bad I almost didn’t buy the house. It took a lot for me to get over the mental part of it. But in the end I realized I was being silly and I have zero regrets.

By the way, when I say I’m saving that much, I mean that’s how much is being saved after I’ve spent fun money to eat out a couple times a month with my guy. I have to watch my money but it’s worth it.

Post # 4
Member
371 posts
Helper bee
  • Wedding: February 2011

After all of our bills (not counting gas, groceries, or savings) we have about about $2200 left over a month. Although that amount doesn’t really sound right, but I think its because I’m used to thinking in terms of half a month, since we both get paid twice a month and split bills between the two pay periods.

 

ETA: we love having a house, and wouldn’t go back to renting for anything, but another thing to consider is that there will be more money going into the house, for example, if we have extra money a lot of it goes back into the house, either redoing something, fixing something, or just making it more my dream house Smile. We really don’t have a hard time with the money we have left over and we save quite a bit considering, but we don’t live in an expensive area, and we don’t go out a lot. The one thing we do enjoy is eating out, so we probably eat out less now (which is better for us anyway, healthwise), and we just eat out at more casual places normally and save the nicer places for once a month or so.

Post # 5
Member
1944 posts
Buzzing bee
  • Wedding: June 2009

Its hard for me bc our savings is budgeted like a bill. Each week a certain amount is deposited into our accounts no matter what. We also have a reserve in our checking we will not fall below which is $1200. But if I tally it up we save about $2k a month in personal savings and we still have about $700-1000 left over to do whatever with. We are not rich by anymeans, we just don’t have any debt besides our mortgage. I say for a young couple we live really comfortable. We go out and do stuff but we are also frugal and sometimes we honestly would and have passed up trips bc we would rather pay our house off early or save it up for something else that we would purchase together. It’s all in what’s important to you, eating out 3 times a week? Not us.

Post # 6
Member
602 posts
Busy bee
  • Wedding: October 2010

I really wish I had waited on buying a home.  My taxes have gone up and I’m paying almost $100 more a month than I intially planned for in just the two years that I have owned (meanwhile my salary stays the same). 

At the end of the month depending on bills (I pay for my auto insurance up front so that is $500 every 6 months and will effect how much I’m able to save) we put away 500-1500 a month.  The goal is 1000 and we average that over time. 

We eat out / go to the bars a lot and I’m not so good at not splurging some months.  I find the house lifestyle effects me most with traveling,  which has been more limited than I would like since marriage 🙁

I’m really unhappy with home ownership and wish I would have waited closer to the time we wanted kids to jump into it.  I thought the market was going to bounce back at the time,  but that obviously hasn’t happened.

Post # 7
Member
5009 posts
Bee Keeper
  • Wedding: April 2012

Our mortgage is less than most of our friends’ rents. After paying all bills and saving around £300 per month each we’re left with a couple of hundred pounds just for fun things and eating out. We each pay £500 a month into a joint account for shared bills, mortgage and groceries.

Post # 9
Member
1230 posts
Bumble bee
  • Wedding: August 2011

What do they say?  You are throwing your money away in rent?  We have like ZERO money after we pay our bills.  But we racked up  A LOT of CC bills trying to furnish the American Dream.  After paying those CCs off, it shouldn’t be so bad, but right now it bites.  I miss my one bedroom apt.  And the xtra cash that went with it!  It’s hard to say.  I have my daughter living with me, so the xtra room is obviously the most important and we have a dog and cat, and most apts. make you pay xtra for that.  I guess it all depends on the step you see your life going?

Post # 10
Member
4824 posts
Honey bee

It can be scary making a move to a larger bill/mortgage, but at the end of the day you should have money leftover after paying all your bills for savings. (because dont forget you need cash to replace the roof, water heater, exterminator, vacations, cars, medical bills, kids)

If you are conservative 35% or if you arent 45% of your pre-tax income should cover ALL your taxes, interest, mortgage, insurance etc.

http://www.nytimes.com/2009/09/12/your-money/mortgages/12money.html

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