my real household budget.

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

quantAndHold wrote: Tue Jan 18, 2022 2:36 pm I’m not sure what the point of this is. You have $34k in spending listed, but your home appears to be underinsured, and you have every category that fits into “things that could go wrong” zeroed out. I can guarantee that at least some things (health, dental, home repair, car) will actually go wrong, and you will have expenses in those categories, probably large expenses. “My wife or daughter will pay for it” is fine as a way to pay for that kind of stuff as long as they agree to it, but the “nothing will go wrong” budgeting method will never produce a very accurate budget.
Perhaps I have shown you mine so now show me yours?

Yes I have said the house is under insured and should consider increasing it. Perhaps double or 3X. But the bare ashes cleared site would be worth $40K for the lot, $10K for the water and $7K for the septic and 25K for the fire proof foundation so after a fire would be worth $82K as is.
I have not let insurance bleed me to death.
I have health well covered. My wife had a complete knee replacement this year. My cost $500.
Yes some other things will unexpectedly go wrong like my daughter smacking her car into a maple tree and needing one of our vehicles for a month.
Two of my daughters are GS 13s and make double anything I have ever made.
We pay dental out of pocket. Not cheap but lately about $700 per year.
I have not budgeted with a "nothing can go wrong" attitude just listed the know expenses with those unknowns left to the excess of income over known expenses.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

Understudy wrote: Tue Jan 18, 2022 5:05 pm

Only real advice I have is to consider an alternative heat source from wood when you are no longer a youngster :D . Growing up my parents heated with wood until the free labor source moved away. Heat pump installed the following year.

Enjoy
Yes this is a ongoing issue with SHMBO. The best way to go is the question, and the right answer changes weekly. I am hoping that a solar panel installation feeding a power wall battery pack and electric heat pumps will win out but they are not there yet.
SHMBO. = She who must be obeyed!
LittleMaggieMae
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Re: my real household budget.

Post by LittleMaggieMae »

food ....................500
Does this take into account all the "non-food" things that are purchased at the "grocery" "once in a while": personal care products (deodorant, shampoo, body wash/soap, vitamins, skin care (sunscreen, moisturizer, bugsspray, bandaids, pain relievers, whatever else...) and paper products: TP, paper towels, kleenex and then laundry products detergent, fabric softner, spot treatments, some other laundry thing I don't know exists, and cleaning products for your bathroom and kitchen and stuff like aluminum foil and parchment paper and cling wrap if you cook... -basically a "thousands cuts".

How do you pay for repairs/maintenance to your vehicles (if you keep a vehicle long enough you will replace tires and a battery for example).
Same thing for your house... the yearly furnace check, the chimney sweeping - how will you pay for a known big expense like a roof or a new furnace or water heater...

This is a good time of year to review all of last years expenses (your credit card statements and your checking account register). It's also a good time to "look ahead" and see what kinds of out of the ordinary but required expenses are on the horizon - a deck that needs to be washed and sealed, a tree that needs to be removed, your appliances (especially if they are hitting the 10 year mark - they might not need to be replaced - but it's time to know it's on the horizon), basically any "system" in your house that's getting long in the tooth and will eventually need to be replaced...
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

LittleMaggieMae wrote: Tue Jan 18, 2022 6:05 pm
food ....................500
Does this take into account all the "non-food" things that are purchased at the "grocery" "once in a while": personal care products (deodorant, shampoo, body wash/soap, vitamins, skin care (sunscreen, moisturizer, bugsspray, bandaids, pain relievers, whatever else...) and paper products: TP, paper towels, kleenex and then laundry products detergent, fabric softner, spot treatments, some other laundry thing I don't know exists, and cleaning products for your bathroom and kitchen and stuff like aluminum foil and parchment paper and cling wrap if you cook... -basically a "thousands cuts".


How do you pay for maintenance on your vehicles and gas for them?
Same thing for your house... the yearly furnace check the chimney sweeping - how will you pay for a known big expense like a roof or a new furnace or water heater...
[/quote]
Well all those small things are in the shopping cart and covered by the $500/ month. Perhaps I should have labeled that category more broadly.
As to the vehicles I have listed payments,insurance, gas and repairs. What more do you want?
The furnace is "WOOD". I check it by cleaning out the five gallon pale or so of fallen soot at the clean out door of the chimney once a year and stick a mirror in to see if I can see a square (ie. clean)version of daylight through the length of the chimney at noon. 35 years and no problems yet.
The water heater is getting a bit old for it's type but $500 for a replacement is not an emergency and I might when necessary convert to one of those on demand water heaters to cut down on my summer propane use. But this last week the wood furnace has pre heated the water so much I have had to waste it to reduce the amount the pressure temp valve has blown off on the 80 gallon pre heat tank.
By waste I mean fill the kitchen sink full of hot water and let it cool warming the kitchen and running the shower full hot with the drain plugged to get a full tub of almost scalding water to add to the heat upstairs. None of which is needed but I like to draw some energy from it before sending it down to the septic tank.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

On the vehicle issue ; A brand new 2021 vehicle like our Subaru forester requires no maintenance beyond its first synesthetic oil change at 6000 miles until it gets to about 15,000 miles. Then just another oil change . That will be about 2024 for us.
Depending on how much we have to make it drag us though Vermont spring mud it might be four or five years before we need to do even a brake job or replace a muffler left back in the mud hole of doom.
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Lee_WSP
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Re: my real household budget.

Post by Lee_WSP »

Does it more or less match up with all your credit card and bank statements from last year? If so, that’s about as complete as you’re going to get.

Things like depreciation and large maintenance items aren’t going to be captured in yearly statements, so I think that one’s the hardest for people not actuarially inclined to calculate accurately.

Personally, I’m not a fan of breaking things out line by line unnecessarily. I just track spending by credit card. Get the annual report, divide the total by 12, assign rough categories to each card and voila, actual spending.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

Understudy wrote: Tue Jan 18, 2022 5:05 pm
Only real advice I have is to consider an alternative heat source from wood when you are no longer a youngster :D . Growing up my parents heated with wood until the free labor source moved away. Heat pump installed the following year.

Enjoy
Agree: with no sons living nearby ( or son -in -laws ) a heat pump is probably going to happen as the next best thing.
Every year when I look at my winter wood pile I think ("Screw you OPEC) and smile all winter but as the years progress I can't do that forever.
But I have shafted them of about $150,000 of income so think I have done my patriotic duty.
Yes I know this thread will now get locked or deleted, Lady. but I had to say it.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

Lee_WSP wrote: Tue Jan 18, 2022 7:06 pm Does it more or less match up with all your credit card and bank statements from last year? If so, that’s about as complete as you’re going to get.

Things like depreciation and large maintenance items aren’t going to be captured in yearly statements, so I think that one’s the hardest for people not actuarially inclined to calculate accurately.

Personally, I’m not a fan of breaking things out line by line unnecessarily. I just track spending by credit card. Get the annual report, divide the total by 12, assign rough categories to each card and voila, actual spending.
Interesting! I have only one credit card ,and that only to be able to rent a car if needed. There is another complete thread there.
My debit card links to my checkbook and bank statements and other then looking them over each month to see if their are any unauthorized withdrawals
we do not inspect it closely.
Trying to pin down every penny spent would be a lot of work that returned few benefits.
Hundreds of dollars on the other hand!!
59Gibson
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Re: my real household budget.

Post by 59Gibson »

I spend about $500/ mo and live very well. My wife loves to spoil me and breaks me off $6k/mo walking around cash.
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Picasso
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Re: my real household budget.

Post by Picasso »

KlangFool wrote: Tue Jan 18, 2022 9:56 am
That is not a high standard for my culture. It is the normal behavior.

KlangFool
Can you remind me of your house buying standard?
KlangFool
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Re: my real household budget.

Post by KlangFool »

Picasso wrote: Tue Jan 18, 2022 9:16 pm
KlangFool wrote: Tue Jan 18, 2022 9:56 am
That is not a high standard for my culture. It is the normal behavior.

KlangFool
Can you remind me of your house buying standard?
1) PITI (20% down payment , 30 years fixed rate mortgage) at least 20% to 30% lowered than the market rent of the same house.

2) Portfolio at least 2 times the price of the house.

KlangFool
Last edited by KlangFool on Tue Jan 18, 2022 11:30 pm, edited 1 time in total.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

One additional input.
I did this year buy an investment grade rifle taken on a bill owed to me for $900 and worth about $1300. It is an addition to my "virtual arsenal"and I have sent if off to my Son -in -law to take on a Western elk hunt which is where it belongs.
If you are not into hunting and or firearms this of course means nothing to you but to a family that has a hunting heritage it is a thing well done.
kd2008
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Re: my real household budget.

Post by kd2008 »

OP,

We live in a hot southern climate. Here is what we spent last year (2 people):

$38.6K

We had a few other expenses on top of it

Mortgage - $10K
New HVAC - $15K (One-time expense)
Citizenship expenses - $2K (One-time expense)

Total 65.6K :D

I find you expenses entirely reasonable.

Each of us have our preferences. We had season tickets to the symphony. We spent $1K (I kid you not!) on husband's newspaper and magazine insanity. We went on a vacation in the New Mexico high desert. Etc. etc.
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kevinf
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Re: my real household budget.

Post by kevinf »

vtsnowdin wrote: Tue Jan 18, 2022 3:31 am Any thoughts ..Omissions.??
Yes, you really need to use software (dedicated budgeting software or a VERY well designed spreadsheet) and track your true expenses (by importing statements from all your financial institutions... income AND expenses) for at least a year to nail down an actual budget. You'll find things you never would have thought of off the top of your head and your budget categories will keep multiplying even after that year has passed, though at a slower rate.

The benefit is then having more insight... to know what you can cut, or what you can spend more on. To plan for future expenses and retirement properly, and to know just how secure your safety net is. Generating reports to track your progress, and looking back in time when something doesn't go to plan is also extremely helpful.
jmw
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Re: my real household budget.

Post by jmw »

You need to use a zero based budget software like YNAB or Every Dollar for two years. Your budget is not real because it's way too thin. If you were using either software for the past 60 days, your initial post would be WAY WAY longer. Also, don't have a shadow income and budget. Include both spouses income and expenses.

No offense, but the car payment and the alcohol are terrible. They both need to be changed to zero today. If you can't get rid of the car payment today with a single lump sum payment, you can't afford that car. That will help pay for the gross underestimate on future expenses for dental, house, and cars. I'll take your word for it that you got the medical taken care of. There's other low hanging fruit like TV and cell phone plan, but first payoff the car today.
softwaregeek
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Re: my real household budget.

Post by softwaregeek »

vtsnowdin wrote: Tue Jan 18, 2022 5:53 pm
Understudy wrote: Tue Jan 18, 2022 5:05 pm

Only real advice I have is to consider an alternative heat source from wood when you are no longer a youngster :D . Growing up my parents heated with wood until the free labor source moved away. Heat pump installed the following year.

Enjoy
Yes this is a ongoing issue with SHMBO. The best way to go is the question, and the right answer changes weekly. I am hoping that a solar panel installation feeding a power wall battery pack and electric heat pumps will win out but they are not there yet.
SHMBO. = She who must be obeyed!
Solar is not a replacement for winter heat. My solar array generates 1500kwh in June, 500kwh in December. Winter is not good for solar. Batteries don't matter, there just isn't enough juice inbound in the winter to heat a house.
playtothebeat
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Re: my real household budget.

Post by playtothebeat »

Not sure why people are telling you your car payments or your alcohol budget are too high. Both seem entirely reasonable to me. And hey $270/month on alcohol to you may bring as much joy as someone who spends that money on a nice dinner instead, or a hobby, etc. to each their own, and a nice bottle of wine can easily cost 60-70 (one a week, and you’re at $270 right there). Cheers!
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

softwaregeek wrote: Tue Jan 18, 2022 11:40 pm
vtsnowdin wrote: Tue Jan 18, 2022 5:53 pm
Understudy wrote: Tue Jan 18, 2022 5:05 pm

Only real advice I have is to consider an alternative heat source from wood when you are no longer a youngster :D . Growing up my parents heated with wood until the free labor source moved away. Heat pump installed the following year.

Enjoy
Yes this is a ongoing issue with SHMBO. The best way to go is the question, and the right answer changes weekly. I am hoping that a solar panel installation feeding a power wall battery pack and electric heat pumps will win out but they are not there yet.
SHMBO. = She who must be obeyed!
Solar is not a replacement for winter heat. My solar array generates 1500kwh in June, 500kwh in December. Winter is not good for solar. Batteries don't matter, there just isn't enough juice inbound in the winter to heat a house.
Yes I am aware of all of that but it would be grid tied for hydro Quebec to take up the slack. They are beginning to ban new installations of fossil fuel heating systems so in a few years there may not be a choice practical or not. Hopefully they will come up with a lower rate for grid electricity used for heating instead of the 0.22/KWH I'm paying now. Also a subsidized large array is cheap to install right now and they are going up all around me.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

playtothebeat wrote: Wed Jan 19, 2022 12:43 am Not sure why people are telling you your car payments or your alcohol budget are too high. Both seem entirely reasonable to me. And hey $270/month on alcohol to you may bring as much joy as someone who spends that money on a nice dinner instead, or a hobby, etc. to each their own, and a nice bottle of wine can easily cost 60-70 (one a week, and you’re at $270 right there). Cheers!
Well there are a lot of penny pinchers around this sight so there is a bias.

Do you know how copper wire was invented????


Two Scotsmen pulling on the same penny! :mrgreen:
AnEngineer
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Re: my real household budget.

Post by AnEngineer »

vtsnowdin wrote: Wed Jan 19, 2022 6:48 amThey are beginning to ban new installations of fossil fuel heating systems so in a few years there may not be a choice practical or not.
If this happens in a place like where you live it's a death sentence. Lose power for a few days and freeze to death.
AnEngineer
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Re: my real household budget.

Post by AnEngineer »

OP, I think considering the objective of the budget is worthwhile. There are a few things that you mentioned that you got free or cheap or handled yourself that are generally big ticket items (e.g. heating system). If you're looking at what you have spent, that's accurate. However, if you want to use it to project future expenses that's not a fair assessment unless you have a reliable way to repeat the past.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

AnEngineer wrote: Wed Jan 19, 2022 7:52 am
vtsnowdin wrote: Wed Jan 19, 2022 6:48 amThey are beginning to ban new installations of fossil fuel heating systems so in a few years there may not be a choice practical or not.
If this happens in a place like where you live it's a death sentence. Lose power for a few days and freeze to death.
There will always be a wood backup.
I know this sounds stupid but Quebec just passed such a law and there is pressure here to follow suit to meet CO2 emission requirements in climate accords.
https://montreal.ctvnews.ca/installing- ... -1.5669892
AnEngineer
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Re: my real household budget.

Post by AnEngineer »

vtsnowdin wrote: Wed Jan 19, 2022 8:04 am
AnEngineer wrote: Wed Jan 19, 2022 7:52 am
vtsnowdin wrote: Wed Jan 19, 2022 6:48 amThey are beginning to ban new installations of fossil fuel heating systems so in a few years there may not be a choice practical or not.
If this happens in a place like where you live it's a death sentence. Lose power for a few days and freeze to death.
There will always be a wood backup.
I know this sounds stupid but Quebec just passed such a law and there is pressure here to follow suit to meet CO2 emission requirements in climate accords.
https://montreal.ctvnews.ca/installing- ... -1.5669892
Interesting. That's both not as bad and worse than a ban on new fossil fuel heating systems. Not as bad in that it only bans oil. Worse in that it bans repairing oil systems.
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

AnEngineer wrote: Wed Jan 19, 2022 7:56 am OP, I think considering the objective of the budget is worthwhile. There are a few things that you mentioned that you got free or cheap or handled yourself that are generally big ticket items (e.g. heating system). If you're looking at what you have spent, that's accurate. However, if you want to use it to project future expenses that's not a fair assessment unless you have a reliable way to repeat the past.
I am if anything it is adaptable. Doing for myself was always a matter of necessity and now it is much less the case. Buying a new car that does not need repairs for years out is actually cheaper then do it yourself shade tree mechanic work and with today's rolling computers I no longer have the knowledge or tools to do more then a brake job. I have even gone so far as go to Jiffy lube!!
As to heating systems or appliance replacements we will cross those bridges when we come to them keeping a cushion balance in savings and checking accounts at all times.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

AnEngineer wrote: Wed Jan 19, 2022 8:09 am
vtsnowdin wrote: Wed Jan 19, 2022 8:04 am
AnEngineer wrote: Wed Jan 19, 2022 7:52 am
vtsnowdin wrote: Wed Jan 19, 2022 6:48 amThey are beginning to ban new installations of fossil fuel heating systems so in a few years there may not be a choice practical or not.
If this happens in a place like where you live it's a death sentence. Lose power for a few days and freeze to death.
There will always be a wood backup.
I know this sounds stupid but Quebec just passed such a law and there is pressure here to follow suit to meet CO2 emission requirements in climate accords.
https://montreal.ctvnews.ca/installing- ... -1.5669892
Interesting. That's both not as bad and worse than a ban on new fossil fuel heating systems. Not as bad in that it only bans oil. Worse in that it bans repairing oil systems.
Yes but they plan to start with oil then move on and ban Natural gas or propane in a few years. Ultimate goal is no fossil fuel heating or cooking at all.
hudson
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Re: my real household budget.

Post by hudson »

vtsnowdin wrote: Tue Jan 18, 2022 6:53 am Ivygirl"
I don't see a bill for Water or Garbage.
Water is owned spring fed by gravity so no bill and works when power is out.
Garbage is take it to the transfer station $5/bag for garbage zero for recycling. Maybe $20
Interesting! Do you have to clean out the pipe frequently?
In '67 a college friend had a mobile home towed onto a lot in the mountains. He somehow enclosed a spring and ran a pipe to his mobile home. He might have had a submersible pump in the spring...not sure. He and I both graduated in a couple of years. Other friends were living there when I returned in '73, and it was still working. I thought that it was amazing that this 19 year old engineered this water supply.
softwaregeek
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Re: my real household budget.

Post by softwaregeek »

AnEngineer wrote: Wed Jan 19, 2022 8:09 am
vtsnowdin wrote: Wed Jan 19, 2022 8:04 am
AnEngineer wrote: Wed Jan 19, 2022 7:52 am
vtsnowdin wrote: Wed Jan 19, 2022 6:48 amThey are beginning to ban new installations of fossil fuel heating systems so in a few years there may not be a choice practical or not.
If this happens in a place like where you live it's a death sentence. Lose power for a few days and freeze to death.
There will always be a wood backup.
I know this sounds stupid but Quebec just passed such a law and there is pressure here to follow suit to meet CO2 emission requirements in climate accords.
https://montreal.ctvnews.ca/installing- ... -1.5669892
Interesting. That's both not as bad and worse than a ban on new fossil fuel heating systems. Not as bad in that it only bans oil. Worse in that it bans repairing oil systems.
If the subsidy is there, take it while you can. California has announced it is pulling most of the subsidy goodness out of Solar in the next six months. Subsidies seem to have maxed, at least in the USA.

I get a 5.5 year payback on my panels but under the new rules it would take 13.9 years. My electric bill would go from $300 a year to $2000 a year under the new rules. They even shortened the grandfathered cheap rates period to 15 years from 20.
makingmistakes
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Re: my real household budget.

Post by makingmistakes »

vtsnowdin wrote: Wed Jan 19, 2022 6:50 am
playtothebeat wrote: Wed Jan 19, 2022 12:43 am Not sure why people are telling you your car payments or your alcohol budget are too high. Both seem entirely reasonable to me. And hey $270/month on alcohol to you may bring as much joy as someone who spends that money on a nice dinner instead, or a hobby, etc. to each their own, and a nice bottle of wine can easily cost 60-70 (one a week, and you’re at $270 right there). Cheers!
Well there are a lot of penny pinchers around this sight so there is a bias.

Do you know how copper wire was invented????


Two Scotsmen pulling on the same penny! :mrgreen:
Well … we’re also worried about your health with all that alcohol consumption 😄
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

Image
hudson wrote: Wed Jan 19, 2022 8:29 am
vtsnowdin wrote: Tue Jan 18, 2022 6:53 am Ivygirl"
I don't see a bill for Water or Garbage.
Water is owned spring fed by gravity so no bill and works when power is out.
Garbage is take it to the transfer station $5/bag for garbage zero for recycling. Maybe $20
Interesting! Do you have to clean out the pipe frequently?
In '67 a college friend had a mobile home towed onto a lot in the mountains. He somehow enclosed a spring and ran a pipe to his mobile home. He might have had a submersible pump in the spring...not sure. He and I both graduated in a couple of years. Other friends were living there when I returned in '73, and it was still working. I thought that it was amazing that this 19 year old engineered this water supply.
No it does not require regular cleaning. I did replace the last 900 feet of 100 year old galvanized pipe with hdp plastic two or three years ago so now it should be good to go indefinably. When I was growing up we would have to clean the spring box out each year with a pair of post hole diggers but once I installed a metal well tile with crushed stone in the bottom it has not required that. Running a rented mini excavator on a three to one side slope is a learning experience. :shock: The spring is 1800 feet away and 100 feet in elevation above so with friction losses I get about 25 psi and a gallon a minute flow which is enough to run showers comfortably without a booster pump.Image Tried to add a picture but failed.
Last edited by vtsnowdin on Wed Jan 19, 2022 6:04 pm, edited 2 times in total.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

softwaregeek wrote: Wed Jan 19, 2022 3:58 pm

I get a 5.5 year payback on my panels but under the new rules it would take 13.9 years. My electric bill would go from $300 a year to $2000 a year under the new rules. They even shortened the grandfathered cheap rates period to 15 years from 20.
It is hard to discuss this without crossing the"no politics" lines but let me say I think some form of green energy subsidy program will be expanded eventually and I am in a wait and see position at present.
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

makingmistakes wrote: Wed Jan 19, 2022 4:19 pm

Well … we’re also worried about your health with all that alcohol consumption 😄
Thank you for that but consider that my best friend ,72, Vietnam era vet and poor by any standard here admits to spending $600 a month on beer and cigarettes.
Except for whipping my butt at darts on a regular basis and watching women's tennis on the tube it is his only entertainment.
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Artful Dodger
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Re: my real household budget.

Post by Artful Dodger »

vtsnowdin wrote: Tue Jan 18, 2022 8:41 am
mrsmitt wrote: Tue Jan 18, 2022 8:30 am Wow, $270 is a massive budget for alcohol… can you elaborate on this? How much alcohol do you consume on a monthly basis?
I'd like to say that was ten bottles of $27 wine, but is more accurately a $55 for a 1.75L of Bourbon, a Bota box of wine, and the rest beer at $20 a eighteen pack. A sixpack a day is a minimum. :beer
I was going to say that $270 a month didn’t sound like much, and what about your budget for whisky and cocktails, but I see you’ve got that covered as
well and are actually pretty frugal. Well done. :sharebeer
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vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

Artful Dodger wrote: Wed Jan 19, 2022 4:56 pm
vtsnowdin wrote: Tue Jan 18, 2022 8:41 am
mrsmitt wrote: Tue Jan 18, 2022 8:30 am Wow, $270 is a massive budget for alcohol… can you elaborate on this? How much alcohol do you consume on a monthly basis?
I'd like to say that was ten bottles of $27 wine, but is more accurately a $55 for a 1.75L of Bourbon, a Bota box of wine, and the rest beer at $20 a eighteen pack. A sixpack a day is a minimum. :beer
I was going to say that $270 a month didn’t sound like much, and what about your budget for whisky and cocktails, but I see you’ve got that covered as
well and are actually pretty frugal. Well done. :sharebeer
Thanks!! I'm pretty satisfied with my condition and life. With no debt other then the new car which is worth more then I owe on it I have a net worth that while tiny by BH standards is far ahead of much of America and I am rather smug about others making six figures that have overspent and borrowed up to the limit of their cash flow and need just one job loss to push them into bankruptcy.
hudson
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Re: my real household budget.

Post by hudson »

vtsnowdin wrote: Wed Jan 19, 2022 4:30 pm
No it does not require regular cleaning. I did replace the last 900 feet of 100 year old galvanized pipe with hdp plastic two or three years ago so now it should be good to go indefinably. When I was growing up we would have to clean the spring box out each year with a pair of post hole diggers but once I installed a metal well tile with crushed stone in the bottom it has not required that. Running a rented mini excavator on a three to one side slope is a learning experience. :shock: The spring is 1800 feet away and 100 feet in elevation above so with friction losses I get about 25 psi and a gallon a minute flow which is enough to run showers comfortably without a booster pump.Image Tried to add a picture but failed.
[/quote]

Thanks for sharing!
When backpacking, there is nothing like finding a good spring!
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

hudson wrote: Wed Jan 19, 2022 6:46 pm
vtsnowdin wrote: Wed Jan 19, 2022 4:30 pm
No it does not require regular cleaning. I did replace the last 900 feet of 100 year old galvanized pipe with hdp plastic two or three years ago so now it should be good to go indefinably. When I was growing up we would have to clean the spring box out each year with a pair of post hole diggers but once I installed a metal well tile with crushed stone in the bottom it has not required that. Running a rented mini excavator on a three to one side slope is a learning experience. :shock: The spring is 1800 feet away and 100 feet in elevation above so with friction losses I get about 25 psi and a gallon a minute flow which is enough to run showers comfortably without a booster pump.Image Tried to add a picture but failed.
Thanks for sharing!
When backpacking, there is nothing like finding a good spring!
[/quote]
Ahh!!.
If your canteen is empty what a relief to find one.
This spring is one of the head waters of a brook that flows SE to the White river and joins the Connecticut river and on to Long Island sound.
Just a couple of miles North there are other headwaters that flow NW and on to the Winooski river to Lake Champlain and then to the gulf of St. Lawrence. Not the continental divide but I am pretty much at the top of my drainage basin.
Sagefemme
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Re: my real household budget.

Post by Sagefemme »

You seem like a handy guy and maybe your next project should be a still. Once you know how to make spirits you can start brewing beer as well.. :D
HeelaMonster
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Re: my real household budget.

Post by HeelaMonster »

Kagord wrote: Tue Jan 18, 2022 5:21 am I started this way. The next step I did is to track every cash inflow/outflow you have and classify by expense type and month, and see how close you are. I do this, it takes about 4 hours month for me, this is downloading all credit card, bank, and investment activity, and ensure the balances at end of month tie to ensure you are capturing every cash in and out to the penny. I was close on the budget, but it is enlightening to know exactly how the money comes in and goes out, like what a business does.
+1

Although I can't truthfully say that I "started this way." Perhaps something told me without even trying to itemize a line-by-line budget that I would inevitably leave things out, guesstimate amounts incorrectly, etc. And I certainly wasn't going to save and log receipts for every expenditure over a full year. But I do have a high degree of confidence that we know exactly how much we spend.

For us it has been a simple matter to calculate expenses using our monthly bank statements, because everything ultimately comes out of one checking account (including credit card payments, auto-withdrawals, utilities, direct payments, charities, ATM cash, etc). I just added up the monthly debit totals, backed out large items that don't belong as part of expenses to be supported in retirement (e.g., travel reimbursed by employer, annual IRA contributions, other investments), and that's it. The only thing I can think of that isn't captured that way is income taxes, via W2 withholding, but that can easily be added in. Took me 30 minutes per year (if that) and, after doing for 4 years running, I was amazed at how consistent our spending was over the course of those years. No, I can't tell you what we spend on gas versus beer versus food versus movies (and so on), but I'm not sure what we'd do with that information. I can tell you that our projected retirement income is more than sufficient to cover our expenses, and then some (if we ramp up travel, for example).... and that was the point of the exercise, for us.
Last edited by HeelaMonster on Thu Jan 20, 2022 8:29 am, edited 1 time in total.
spammagnet
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Re: my real household budget.

Post by spammagnet »

vtsnowdin wrote: Tue Jan 18, 2022 6:48 am... We have no dental insurance at present. ...
Dental prophylaxis is insurance. If at all possible, I strongly suggest you see a hygienist twice a year. Also, consider their advice regarding frequency of x-rays and exams by a dentist as being in your best interest, not profit-seeking. If you choose to do that, work it into your budget.
spammagnet
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Re: my real household budget.

Post by spammagnet »

vtsnowdin wrote: Tue Jan 18, 2022 6:59 am I would in a heartbeat but the DW likes our service and will not budge.
So, switch one line? It might be worthwhile, even with the loss of multi-line discounts. It may also provide an opportunity for DW to see that MVNOs can provide acceptable service.
spammagnet
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Re: my real household budget.

Post by spammagnet »

vtsnowdin wrote: Tue Jan 18, 2022 9:07 am
UncleBen wrote: Tue Jan 18, 2022 8:57 am $270 is a lot for phone/computer/dish or cable. Are there any bundles available in your area? Have you called to ask for rate reductions? I live in a high cost area with a cable monopoly and I can usually get $50/month shaved off by calling every year.
AS I said we have just upgraded the landline service from the phone company. After one time charges for the switch( $125) the bill is supposed to drop.
The State of Vermont is in a tissy to get high speed internet to every house and hunting camp so what is available is changing but as I am about as far into the woods as you can get without starting to come out the other side it will be awhile before there is any competition for my business.
I do plan to watch it and switch to a more economical setup when it finally gets in place.
I live five miles from the nearest paved road and 1000 feet in elevation above it.
Does T-Mobile serve your area? They're expanding their fixed wireless internet pretty aggressively. $50/month flat rate for decent service, but it's very location dependent, including the location within your home. Some users experience variable performance but many rural users describe it as substantially better than their alternatives, which aren't much. (Source: reddit.com/r/tmobileisp)
spammagnet
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Re: my real household budget.

Post by spammagnet »

mrsmitt wrote: Tue Jan 18, 2022 8:30 amWow, $270 is a massive budget for alcohol…
My $150/month wine budget is a goal, not a limit. :sharebeer
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

Sagefemme wrote: Wed Jan 19, 2022 8:29 pm You seem like a handy guy and maybe your next project should be a still. Once you know how to make spirits you can start brewing beer as well.. :D
Been there and done that but it was quite a bit of work for not very good beer.
Beer is about the only thing that has not jumped in price so far but if it goes as some predict I might have to work on my brewing skills. Of course the price of the ingredients will probably keep up or even get ahead of inflation.
Wild picked Blackberry wine anyone?
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

spammagnet wrote: Wed Jan 19, 2022 8:43 pm
vtsnowdin wrote: Tue Jan 18, 2022 6:48 am... We have no dental insurance at present. ...
Dental prophylaxis is insurance. If at all possible, I strongly suggest you see a hygienist twice a year. Also, consider their advice regarding frequency of x-rays and exams by a dentist as being in your best interest, not profit-seeking. If you choose to do that, work it into your budget.
We do do things as needed. DW had a crown replaced this year out of pocket.
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

spammagnet wrote: Wed Jan 19, 2022 8:52 pm
vtsnowdin wrote: Tue Jan 18, 2022 6:59 am I would in a heartbeat but the DW likes our service and will not budge.
So, switch one line? It might be worthwhile, even with the loss of multi-line discounts. It may also provide an opportunity for DW to see that MVNOs can provide acceptable service.
Advice taken under consideration.
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

spammagnet wrote: Wed Jan 19, 2022 8:59 pm
vtsnowdin wrote: Tue Jan 18, 2022 9:07 am
UncleBen wrote: Tue Jan 18, 2022 8:57 am $270 is a lot for phone/computer/dish or cable. Are there any bundles available in your area? Have you called to ask for rate reductions? I live in a high cost area with a cable monopoly and I can usually get $50/month shaved off by calling every year.
AS I said we have just upgraded the landline service from the phone company. After one time charges for the switch( $125) the bill is supposed to drop.
The State of Vermont is in a tissy to get high speed internet to every house and hunting camp so what is available is changing but as I am about as far into the woods as you can get without starting to come out the other side it will be awhile before there is any competition for my business.
I do plan to watch it and switch to a more economical setup when it finally gets in place.
I live five miles from the nearest paved road and 1000 feet in elevation above it.
Does T-Mobile serve your area? They're expanding their fixed wireless internet pretty aggressively. $50/month flat rate for decent service, but it's very location dependent, including the location within your home. Some users experience variable performance but many rural users describe it as substantially better than their alternatives, which aren't much. (Source: reddit.com/r/tmobileisp)
Actually I have zero cell service from my house. Go up to my daughters house 100 feet higher in elevation and a view to Killington and you can get three bars. I should just cancel my line and throw the phone away and let DW's phone serve us when we travel.
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

spammagnet wrote: Wed Jan 19, 2022 9:14 pm
mrsmitt wrote: Tue Jan 18, 2022 8:30 amWow, $270 is a massive budget for alcohol…
My $150/month wine budget is a goal, not a limit. :sharebeer
True but you might want to build your wine cellar each month by not drinking each months purchases that very month.
No luck on that so far.
spammagnet
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Re: my real household budget.

Post by spammagnet »

vtsnowdin wrote: Wed Jan 19, 2022 10:06 pm
spammagnet wrote: Wed Jan 19, 2022 9:14 pm
mrsmitt wrote: Tue Jan 18, 2022 8:30 amWow, $270 is a massive budget for alcohol…
My $150/month wine budget is a goal, not a limit. :sharebeer
True but you might want to build your wine cellar each month by not drinking each months purchases that very month.
No luck on that so far.
I don't have room and am not that picky. We drink box wine, among other things.
Topic Author
vtsnowdin
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Re: my real household budget.

Post by vtsnowdin »

spammagnet wrote: Wed Jan 19, 2022 10:27 pm
vtsnowdin wrote: Wed Jan 19, 2022 10:06 pm
spammagnet wrote: Wed Jan 19, 2022 9:14 pm
mrsmitt wrote: Tue Jan 18, 2022 8:30 amWow, $270 is a massive budget for alcohol…
My $150/month wine budget is a goal, not a limit. :sharebeer
True but you might want to build your wine cellar each month by not drinking each months purchases that very month.
No luck on that so far.
I don't have room and am not that picky. We drink box wine, among other things.
I have yet to meet a box of wine I did not like! I like some of them more then others but like prime and choice beef it is all good. :)
Fordguy88
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Location: Land of Brats, Beer and Cheese

Re: my real household budget.

Post by Fordguy88 »

Donations to local church or charities?

I always budget X dollars per year that I plan to give back.

Maybe you don't have a local church you attend, so that one may be out.

Donate to local homeless shelter, etc?

I have 2 little kids and a lot more expenses than you that come with children, but I still try to give back some as a thank you to the higher powers above that kept me from being in one of those homeless shelters myself.
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22twain
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Re: my real household budget.

Post by 22twain »

HeelaMonster wrote: Wed Jan 19, 2022 8:38 pm For us it has been a simple matter to calculate expenses using our monthly bank statements, because everything ultimately comes out of one checking account (including credit card payments, auto-withdrawals, utilities, direct payments, charities, ATM cash, etc). I just added up the monthly debit totals, backed out large items that don't belong as part of expenses to be supported in retirement (e.g., travel reimbursed by employer, annual IRA contributions, other investments), and that's it. The only thing I can think of that isn't captured that way is income taxes, via W2 withholding, but that can easily be added in.
I do something similar, except that I don't add up all the debits. My procedure is as follows:

1. Start with the initial balance for the time period of interest.
2. Add all deposits (there are fewer of these than debits!).
3. Subtract debits that aren't expenses (e.g. transfers to other accounts).
4. Subtract the final balance for the time period of interest.

This gives our total expenses for the period of interest. Then, if I'm interested in particular categories, I trawl through the checking account and credit card statements for them.
Meet my pet, Peeve, who loves to convert non-acronyms into acronyms: FED, ROTH, CASH, IVY, ...
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