(Closed) How much money are you left with each month after all your bills are paid?

posted 4 years ago in Money
Post # 16
Member
266 posts
Helper bee

After paying all of the bills including groceries etc.. and debt payment ($500 a month) and savings ($800 a month) I have about $400 left, I allocated $50 spending money and $50 entertaintment money per week.  We also have Vacation savings, without that we would have alot more entertaintment money.

Post # 17
Member
33 posts
Newbee

Lol this thread is depressing! My fiance and I met and lived in North Carolina for ten years, and in order to be closer to family, we moved back up to Michigan and currently have no jobs. (We definitely have prospects and he’ll be getting a great job with his step-dad eventually, but at the moment we are strapped!)

Post # 18
Member
14818 posts
Honey Beekeeper
  • Wedding: June 2011

We already stretched more than we wanted to for our house, but it was still easily affordable.  Our mortgage is about 30% of our take home pay after 401k, homeowners and car insurance, which is all auto deducted.

Post # 19
Member
5219 posts
Bee Keeper

I just did a quick add up of essential bills: mortgage, auto loans, student loans, utilities [water, electricity, cable, cell and internet], insurance, pet fees [shots for dogs, boarding for horse and her expenses], HOA– and it’s right at 30% of our income. What I did not factor in was automatic withdrawals to savings, food/gas/grocery and other “bills”, but ones that are more easily manipulated if need be. 

We bought our home two years ago with the safety net of operating under one income should one of us lose our job or take a major pay cut. 

Post # 20
Member
2670 posts
Sugar bee
  • Wedding: September 2012 - Southern California

I didn’t include savings, pet expenses, food, gas, or anything like that. It works out to be about $1,200 or so.

Post # 21
Member
280 posts
Helper bee
  • Wedding: April 2016

I’m extremely lucky in that we both have good paying jobs. We split everything 50/50, so after all of our monthly bills, we each have $700 of “fun money” left. However, I use most of mine to pay down credit card debt, so I feel like I have nothing most months!

Post # 22
Member
6126 posts
Bee Keeper

Mojito77:  Not much.  I would say we don’t live paycheck to paycheck, but we live pretty darn close, especially sicne our child is eating us out of house and home.

Post # 23
Member
784 posts
Busy bee
  • Wedding: April 2016

Mojito77:  We have between $8k and $10k left each month after paying bills but over half of that goes into savings accounts for retirement, vacations and 4 kids college. So we have a couple of thousand each month left to do whatever we want to. 

Post # 24
Member
4031 posts
Honey bee

Mojito77:  If you are just talking about money after the mortgage, we have about $3,600 of our after-tax (and after health insurance/401k contribution) income. But we over pay our mortgage by about $400 a month so that we can pay it off sooner.

After all of our bills are paid (student loans, 401k, car payment, food, gas, entertainment, etc), we have about $1,000 left to put into savings. At this point, we are also over paying on our minimums for student loans, so that they can be gone faster.

Generally, your housing expenses (mortgage/rent, insurance, property tax and utilities) shouldn’t exceed 33-40% of your income. Our is about 36% of our after-tax income (when I include utilities) and it is 23% of our pre-tax income.

If you are strapped for cash each month, it might be time to revisit your expenditures/budget and find ways to cut back. 

Post # 25
Member
347 posts
Helper bee
  • Wedding: November 2015

Mojito77:  About $300K is what we’re talking after everything so you’re spot on! Thank you, finally followed our dream!

Post # 26
Member
609 posts
Busy bee
  • Wedding: February 2016

Between fiance and I we generally have about $1400 left over after mortgage, food, gas + cable/utilities. But we are trying to pay our student loans down ASAP so most of that leftover goes towards debt and the remainder we save. 

It’s tight right now but we’re hoping that making good fiscal choices now means we’ll have more financially freedom in the future. 

Post # 27
Member
250 posts
Helper bee
  • Wedding: May 2016

3,000 monthly. That does include everything. Gas, insurance, cars, food, rent and a mortgage. He owns a separate investment property. This total also includes any credit card payments. That also includes 401k Contribution. 

When I work whatever money I earn goes directly into savings. 

Post # 29
Member
699 posts
Busy bee
  • Wedding: September 2013

After paying all of our monthly allotted expenses (including mortgage, condo fees, home insurance, car insurance, life insurance, groceries, gas, etc, etc), we have about $5,500 per month left over.

Post # 30
Member
1771 posts
Buzzing bee
  • Wedding: October 2014

After all the bills are paid we have about 3k but some of that goes in savings.

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