share you monthly budget breakdown

posted 3 months ago in Finances
Post # 2
Member
7131 posts
Busy Beekeeper

Age: 34

Location: Boston

Combined household monthly take home income: $8820 (after deductions for health insurance, disability insurance, transportation, healthcare FSA, dependent care FSA, and retirement)

Mortgage: $1970 (PITI)

Daycare: $1670 (one toddler)

Debt payment:  $1065 (0% card plus accelerated payments on our HELOC)

Misc. recurring bills: $135

Cell phone/internet/cable/subscriptions: $180 (DH gets a work discount and my work reimburses for most of my phone cost)

Gas/Water/Electric/Utilities: $450

Savings: $1387 (minimum that is auto transferred, will sometimes make manual transfers too. This is split between a few accounts for our daughter’s 529 account, family vacations, annual bills, and a general savings account that we pull from for home and car repairs. E-fund is separate and we aren’t adding to it at the moment)

Then we have about $1960 leftover which we use for gas (averages $135/month), groceries ($300-400 for a family of 3 plus a dog), and misc spending. 

Post # 3
Member
1222 posts
Bumble bee
  • Wedding: September 2016

Age: 29 & 30

Location: Denmark

Combined household monthly take home income: c.$8.500 ($11.750 before tax)

Rent: c.$1,275

Debt Payment: c.$3.000 clear by June

Groceries:  c.$815 

Cell phone/internet/cable: c.$50 Only my handset and tariff, home internet and husbands phone are work benefits

Health Insurance: $0 (we are in Denmark, Private Health included in work contracts if needed)

Life Insurance: $0 no mortgage so haven’t purchased yet. We both have 10x salary payable on death if we are still working

Pharmacy/health: $0

Gas/Water/Electric/Utilities: c.$255 

Discretionary (Eating out, clothing, entertainment): We don’t really budget. I would guess we spend around $500 per month on eating out, purchases, and any other “non essential” spending.

 

I’ll also add that my travel pass is around $300 per month. 

My take home pay is around $3.150 and this is all paid to savings. We hope to purchase a property here next year 🙂

Post # 4
Member
690 posts
Busy bee
  • Wedding: August 2012 - Iowa

 

Age: 35

Location: Iowa

Combined household monthly take home income: $6000

Mortgage: $850

Debt payment:  $350 (1 college loan, 1 construction loan, and 1 credit card)

Daycare: $850 (for 2)

School Lunch: $50

Van Payment: $330

Groceries:  $800

Cell phone/internet/cable: $285

Health Insurance: not sure exactly, comes out of DH’s check so didn’t count it as part of income

Life Insurance: $50 (guessing)

Car Insurance: $170

Gas & Electric: $200

Vehicle gas: $400

 

Post # 5
Member
2306 posts
Buzzing bee

Age: 38

Location: Chicago, IL

Individual (fiance and I don’t share finances) household monthly take home income: $4700

Mortgage/Interest/Property Tax/Assessments/Insurance: $1650 (I’m paying $150/month additional towards principal)

Groceries:  $400

Cell phone: $105

Monthly bus pass:  $100

Pet Insurance:  $57

Security Alarm System:  $50

Gas/Electric: $150

Monthly subscriptions (Spotify, Class Pass, etc.):  $100

Cleaning person:  $120

Roth IRA:  $500

Savings:  $500

Discretionary (shopping, going out, travel, etc):  whatever I have left.

I am in the process of selling my car, which is why I didn’t add any spending for that.

Post # 6
Member
828 posts
Busy bee
  • Wedding: May 2019

Age: 24

Location: Pennsylvania

Take-home pay: $3500 net 401k, parking, and insurance

Rent: $1,685

Gas/Car insurance: $190

Utilities (electric + cable): $160

Student loans: $375

Subscriptions: $15

Food: $400

Pets: $125

Misc. (shopping, haircuts, entertainment): $250

We usually hit a fair amount lower than budgeted, just because we try to save as much so my fiance doesn’t have to take out more loans than needed (he’s in dental school).

 

Post # 7
Member
712 posts
Busy bee

Interesting how different all the locations are!

 

Age: 31

Location: Vancouver, BC

Combined household monthly take home income: $10,800 (soon will be $6350 as I’ll be on Mat leave)

Mortgage: $2700.00

Car Payment and Insurance: $560

Gas: $160

Groceries:  $600

Cell phone/internet/cable: $200

Health Insurance: $0 (work covers)

Life Insurance: $0 (work covers)

Gas/Water/Electric/Utilities: $50

Dog (food, training, dogwalker, insurance): $450

Misc (Eating out, clothing, entertainment): $250

Total Costs: $4910 

Savings (RRSP, TFSA): $1000

 

We’ll have to be a bit more watchful once baby is here; I have been fortunate enough to not have to be super watchful of my spending. This will change with baby, extra expenses, daycare, etc.

Post # 8
Member
678 posts
Busy bee
  • Wedding: January 2017

Age: 25

Location: Canadian Prairies

Combined household monthly take home income: ~ $4,000

Rent: $1325

Groceries/household:  $700 (food is EXPENSIVE in rural areas!)

Cell phone $165

Internet $35

Daycare $500

Pharmacy/health: $80

Gas/Water/Electric/Utilities: $150

Auto/gas $80

Clothing/Haircuts/Personal Care $100

Discretionary $325 ($100 each for discretionry spending and the rest for subscriptions/entertainment/dining out)

Savings (multiple categories)

Vacation (visiting home) – $150

Baby – $100 (clothes, new toys, activities, save up for big purchases, etc)

Emergency – whatever is left 

 

Post # 10
Member
712 posts
Busy bee

sunworshipbride :  We don’t eat a ton of meat but when we do we’ll buy in bulk from local farmers. For example; a friend of ours buys 1/2 a bison every year, we typically buy about 20lb from him for significantly less than in stores. There are some great local chicken and beef farmers around as well, so I buy bigger family packs from them when I buy. This is probably our biggest saving, meat is so expensive!

I buy most fruit/veg from a farmers market so usually whatever is in season; I get fruit/veg from the grocery store too of course but I need significantly less of it. Being able to buy things like lettuce from a market year round is a big savings. In the summer I grow alot of my own veg (have a garden plot just outside of town, costs me $150/year for the land). We eat a decent amount of tofu (so cheap!), eggs, beans, etc. and make basically every meal from scratch. I also try to make my own bread if I have time. I buy in bulk when I can; yogurt I get a massive tub instead of individual packs; trail mix, flour, sugar, rice, etc. I buy in bulk. Honestly our beer and wine spending is often higher than our groceries… hahaha, it’s only been low because i’m pregnant laughing

Post # 11
Member
550 posts
Busy bee

sunworshipbride :  I meal plan after looking at the circular. If you have a list and only buy what’s on it and on sale it’s easier to stay on track. I haven’t done that the past couple of weeks because I have a newborn and our grocery expenses have increased. 

Post # 12
Member
249 posts
Helper bee

Age: 30

Location: Tennessee

Combined household monthly take home income: Not really sure tbh. 

Mortgage: ~$760

Debt payment:  $0

Groceries:  $300?

Cell phone/internet/cable: $50 – $100???

Health Insurance: $320 for me… probably same for him. So $640!?

Life Insurance: Free right now through employer. He has something private but not sure what his premium is.

Pharmacy/health: $0

Dog health insurance: $100 maybe?

Gas/Water/Electric/Utilities: No idea

I have no idea what half of our bills are honestly. LOL. 

I don’t plan on us really combining our accounts either. I just paid off ~$25k in 1.5 years in school loans while he paid ALL the bills almost. He still pays all the bills now give or take. 

I save about $600 a month for us in a savings account and about $200 a month towards a savings (HSA) account for future baby delivery and care (not currently TTC). We both save for retirement through our companies. And then whatever is leftover after all that I pay extra payments on mortgage principles. 

Basically we are “draining” all our income on purpose. He pays all the bills… I do all the saving and paying extra on mortgage which is our only debt at this time. We live pay check to pay check by not leaving much left to wonder… My checking out stays at $50 every month LOL. I only use credit cards for spending as well if that matters.

I feel like we have the most unorganized yet most succesful way of saving and living because although we deeplete our accounts… we still save, stay debt free… and still go out several times a week and vacation… 

Post # 13
Member
480 posts
Helper bee

Age: 29 (30 in 2 weeks!)

Location: Chicago (western suburbs)

Combined household monthly take home income: Just me at $2620

Rent: $1040

Debt payment:  $95

Groceries:  $100-200

Cell phone/internet/cable: $85

Health Insurance: $190

Life Insurance: $0 – employer provides

Pharmacy/health: $10 per perscription when sick, when I was on BC pills they were free and I just got an IUD a few months ago

Gas/Water/Electric/Utilities: $90 in the winter, $45ish in the spring and when AC is on then $60-70

Cat Food/Litter – $25ish

TV/Internet – $110

Discrectionary – $200ish

Leftovers go into savings. Just recently had to take a huge chunk for new tires on my car 🙁

Post # 14
Member
480 posts
Helper bee

sharpshooter :  Are you in the city or suburb? Nice to see another Chicago area bee 🙂

Post # 15
Member
276 posts
Helper bee

Wow! I now feel like we are getting offf easy in the mortgage department.

Age: 36

Location: Central Appalachia

Combined post-tax, post-health insurance income: $9100

Mortgage/tax/ins/HOA dues: $700

Utilities: $400

Car payment (one car): $430

Car insurance (2 cars): $50

Groceries (includes toiletries and cleaning supplies): $400

Gas: $100

Doggo (Food, vet bills, park membership, boarding): $30

Savings (mostly for down payment): $2750

Alimony: $2400

Movies/plays/concerts/eating out: $500 (we’re working hard on bringing this down

Misc household goods, clothing, etc: $300 maybe

Everything else (medical copays, meds, auto maintenance, birthday presents, random purchases): ~$1000

We’re bringing a new addition into the house this fall, so a lot of our funds for dinners out and random stuff will be diverted to child care and baby stuff. We’re slowly cutting back now so it doesn’t come as a shock. Now, if we could just get the ex wife married off, we’d be sitting pretty!

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