What’s Your 2023 Budget?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
keith6014
Posts: 697
Joined: Thu Jan 02, 2014 10:58 pm

Re: What’s Your 2023 Budget?

Post by keith6014 »

Family of 4.
Expect to spend (roughly):
education - 50k
mortgage - 33k
misc - 30k
travel - 30k
groceries/alcohol - 25k
child care things - 20k
property taxes - 18k
car/home insurance - 5 k
utilities/phone - 5k
~225k
steadyosmosis
Posts: 918
Joined: Mon Dec 26, 2022 11:45 am

Re: What’s Your 2023 Budget?

Post by steadyosmosis »

I expect to spend no more than $24K in 2023.
Just me.
Age < 59.5. Early-retired. AA ~55/45. Taxable account and Roth IRA and HSA ... all 100% equities. 100% fixed income in tax-deferred. I spend from taxable and re-balance in tax-deferred.
legalwriter1
Posts: 111
Joined: Tue Aug 16, 2022 9:59 am

Re: What’s Your 2023 Budget?

Post by legalwriter1 »

Family of 6 (married couple with 4 children ages 18, 16, 8, and 7). My wife is a stay at home mom with no income. I forecast low on my income for budget purposes. I have my own business along with W-2 income.

Actual 2022 income and expenses. Budget amount in parenthesis.

Gross Income: 12,749 (8,000)
Net Income: 8,587* (5,500)

Expenses:
Charitable contributions: 1,327 (800)
Housing: 1,280 (1,300)
Food: 1,130 (1,200)
Student loans: 212 (231)
Transportation: 473 (400)
Utilities: 469 (480)
Household/misc: 826 (900)
Medical: 151 (150)
Travel: 0 (200)
Total expenses: 5,868
Net savings: 2,719

2023 Budget:
Net Income: 5,500

Expenses:
Charitable contributions: 800
Housing: 1,300
Food: 1,200
Student loans/education: 100
Transportation: 400
Utilities: 480
Household/misc: 900
Medical: 150
Travel: 200
Total expenses: 5,530

Net savings were allocated to Roth IRA, HYSA, extra mortgage payments, and I-bonds. We already did a lump sum for 2023 Roth IRA for self/spouse and delivered gifts of $20k in I-bonds in 2023 for self/spouse.

*After all employment taxes, health/dental insurance premiums, and 457b/SEP IRA retirement contributions. I maxed out 457b (20,500 in 2022) and SEP IRA (11k in 2022) contributions in 2022. I plan to do the same for 2023. I also get a 403b employer contribution.

Charitable contributions: We contribute around 10% of or gross income to our church and local food bank which is important to us.

Housing includes principal, interest, taxes, property insurance, lawn service, and pest control service.

Student loans (FFEL) are now consolidated and on forbearance with government pause and no interest. After consolidation when payments resume, my new student loan payment with be around $74 per month with interest 100% tax deductible. I might qualify for $10k in the Biden forgiveness. I might also qualify for PSLF in 5 years.

Transportation includes car insurance, gas, maintenance, and registration fees. Cars are paid off. Our 18 year old is in college (partial academic scholarship) living at home and is now paying his share of car insurance and gas.

Utilities includes water, sewer, trash, electricity, natural gas, Internet, phone, and cable.

Household/miscellaneous includes clothes, entertainment, cleaning supplies, hygiene, entertainment, school fees, activities, electronics, furniture, and everything else that does not fit into the other budget categories. We used to be more specific but decided to simplify things and just use one big budget category.
keith6014
Posts: 697
Joined: Thu Jan 02, 2014 10:58 pm

Re: Thread: What’s Your 2023 Budget?

Post by keith6014 »

Wannaretireearly wrote: Mon Jan 16, 2023 2:27 am Well this will force me to put pen to paper!

No debt.

1. Fixed costs incl prop taxes, private school payment, utilities, insurance = $5-6K

2. Discretionary costs: travel, eating out, groceries, 🍷 = $4-6k

So, around $9 - $12k a month.

I’m looking forward to no private school payments.
Hate to break it to you....College! :beer
Colorado14
Posts: 1788
Joined: Thu Apr 07, 2011 4:58 pm
Location: Colorado

Re: What’s Your 2023 Budget?

Post by Colorado14 »

Utilities were our largest expense in 2022, including gas, electric, phone, internet, trash removal and water. We've had a very cold January so far and our local utility rates are increasing rapidly for natural gas, so I expect utilities to continue to be a very large expense.

We have extensive travel planned for this year, so are looking forward to that as our largest expense. (I retired a bit over a month ago at age 54. Spouse is retired also.)
lws
Posts: 828
Joined: Tue Apr 25, 2017 6:12 pm

Re: What’s Your 2023 Budget?

Post by lws »

Retired.
No written budget.
Meet expenses as they come.
printer86
Posts: 416
Joined: Mon Apr 25, 2016 8:45 am

Re: What’s Your 2023 Budget?

Post by printer86 »

Below is our 2022 spending. We are a two person, retired household with a paid off house and getting significant ACA subsidies.

Category YTD

Utilities $ 7,060.65
Taxes (Property & Income) $ 13,000.89
Gifts $ 600.00
Yard $ 3,144.55
House Stuff $ 475.00
Misc. 1 $ 485.00
Misc. 2 $ 1,148.85
Card 1 (Travel and Stuff) $ 84,367.45
Card 2 (Insurances, Gym & Dr.) $ 6,595.87
Card 3 (Groceries & Dining) $ 23,198.00
Clothing Retailer 1 Card $ 1,605.87
Clothing Retailer 2 Card $ 554.39
Debit Card $ 7.09
ATM Withdrawal $ 1,193.73

2022 Total Spend $ 143,437.34

Obviously, Card 1 is where the bulk of our spending lies. In addition to car servicing, gas and some furniture, this line item includes several expensive oversees trips. To call this line item discretionary would be an understatement. I expect our 2023 spend to be similar to 2022.

edited for simplicity
Last edited by printer86 on Sat Jan 21, 2023 9:54 pm, edited 2 times in total.
yosemite_mountain
Posts: 435
Joined: Tue Oct 02, 2018 8:44 pm

Re: What’s Your 2023 Budget?

Post by yosemite_mountain »

Single, no kids

Rent: 2835
Food (groceries, restaurants): 880
Helping out parents: 600
Insurance (auto+umbrella +renters + long term disability): 492
Utilities (water, electricity, PG&e, internet): 456
Transportation (gas, car payment, uber): 387
Vacation fund: 280
Facial care (really bad acne): 215
Body care: 66
Cleaning supplies, household supplies: 62
Amazon prime, skype: 45
Haircare: 29

Total Monthly: $6347

Total annual: $76,000
togb
Posts: 319
Joined: Mon Oct 23, 2017 8:36 pm

Re: What’s Your 2023 Budget?

Post by togb »

This has been really interesting, so I'll share too. For the last couple years I've been making a concerted effort to track accurately, so that I'm clear on my expenses (retirement is getting close).

I live in a MCOL area, no spouse, no kids-- but I do have horses, and that's a big category. Income is around $130K (depending on variable bonus)
Insured through employer, and it comes out via payroll, as does 401K contribution.

Expenses

Housing- mortgage 14,400
electric, water, trash, dish 5,880
internet, cell 400
home insurance 2,100
property taxes 4300
yard care/upkeep 1200
mower repair, accrual 800
routine repairs and AC service 1000
Housing Total 30,080

Groceries 5700
Dining out 1500
subscripts, memberships 850
Pet expense 1500
housekeeper 2800
household stuff and improvements 1200
recreation 1000
garden 500
Guns, ammo 500
gifts 600
Charity/church beyond trust 2500
vacations and adventures 3000
Christmas 1350
living Expense Total 23000

car payment/accrual 3300
auto insurance 1800
routine maintenance-car, truck, trailer 1500
fuel 1200
toll tag 120
registrations- 3 vehicles 500
Auto Total 8420

medical coverage 4500
medical deductable and expense 1000
2nd dental premiums 450
2nd dental deductable 150
dermatologist 1500
vitamins and supplements 800
prescriptions 500
Health Care -Total 8900


Horse feed 3600
bedding 2700
alfalfa and coastal 4500
Farrier 4500
Routine vet/dentist 2200
Minor maintenance/repairs 800
Prescription meds 1300
Fly Control 1200
Training 15000
Supplies, supplements 1500
Chickens 600
Horses- total 37900

little emergencies/unplanned 10000

Total Expenses 118,300


So I fall in with those who have high living expenses. The horses are a big part of it-- without them I'd be at about 80K annually. I also relate to those who have seen inflationary impacts (groceries up 20%, electric bill up 40%, hay for horses about 45% higher than last year, etc). Those increases stack up against a tiny/negligible pay increase. If/when those costs normalize, I'll be much more comfortable with my expenses. Until then I skip some things-- the vacation, the dermatologist. But I'm not skipping wine. These days wine seems like a necessity.
GoldenFinch
Posts: 2728
Joined: Mon Nov 10, 2014 10:34 pm

Re: What’s Your 2023 Budget?

Post by GoldenFinch »

togb wrote: Sat Jan 21, 2023 7:33 pm This has been really interesting, so I'll share too. For the last couple years I've been making a concerted effort to track accurately, so that I'm clear on my expenses (retirement is getting close).

I live in a MCOL area, no spouse, no kids-- but I do have horses, and that's a big category. Income is around $130K (depending on variable bonus)
Insured through employer, and it comes out via payroll, as does 401K contribution.

Expenses

Housing- mortgage 14,400
electric, water, trash, dish 5,880
internet, cell 400
home insurance 2,100
property taxes 4300
yard care/upkeep 1200
mower repair, accrual 800
routine repairs and AC service 1000
Housing Total 30,080

Groceries 5700
Dining out 1500
subscripts, memberships 850
Pet expense 1500
housekeeper 2800
household stuff and improvements 1200
recreation 1000
garden 500
Guns, ammo 500
gifts 600
Charity/church beyond trust 2500
vacations and adventures 3000
Christmas 1350
living Expense Total 23000

car payment/accrual 3300
auto insurance 1800
routine maintenance-car, truck, trailer 1500
fuel 1200
toll tag 120
registrations- 3 vehicles 500
Auto Total 8420

medical coverage 4500
medical deductable and expense 1000
2nd dental premiums 450
2nd dental deductable 150
dermatologist 1500
vitamins and supplements 800
prescriptions 500
Health Care -Total 8900


Horse feed 3600
bedding 2700
alfalfa and coastal 4500
Farrier 4500
Routine vet/dentist 2200
Minor maintenance/repairs 800
Prescription meds 1300
Fly Control 1200
Training 15000
Supplies, supplements 1500
Chickens 600
Horses- total 37900

little emergencies/unplanned 10000

Total Expenses 118,300


So I fall in with those who have high living expenses. The horses are a big part of it-- without them I'd be at about 80K annually. I also relate to those who have seen inflationary impacts (groceries up 20%, electric bill up 40%, hay for horses about 45% higher than last year, etc). Those increases stack up against a tiny/negligible pay increase. If/when those costs normalize, I'll be much more comfortable with my expenses. Until then I skip some things-- the vacation, the dermatologist. But I'm not skipping wine. These days wine seems like a necessity.

This is interesting. I’m sure your horses appreciate you! :happy
yosemite_mountain
Posts: 435
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Re: What’s Your 2023 Budget?

Post by yosemite_mountain »

legalwriter1 wrote: Sat Jan 21, 2023 10:05 am Family of 6 (married couple with 4 children ages 18, 16, 8, and 7). My wife is a stay at home mom with no income. I forecast low on my income for budget purposes. I have my own business along with W-2 income.

Actual 2022 income and expenses. Budget amount in parenthesis.


Food: 1,200


What kind of food do you eat / where do you buy groceries to be able to live on $1200 a month for a family of 6? I need some tips to reduce my food budget :happy
togb
Posts: 319
Joined: Mon Oct 23, 2017 8:36 pm

Re: What’s Your 2023 Budget?

Post by togb »

printer86 wrote: Sat Jan 21, 2023 5:45 pm
Card 1 (Travel and Stuff) $ 84,367.45
Card 2 (Insurances, Gym & Dr.) $ 6,595.87
Card 3 (Groceries & Dining) $ 23,198.00

That's an interesting idea, using specific cards for specific expense categories. I've tried to use the card that gives the most cash back for the category, but it seems like lately there's not a big difference from one card to the next. This is something that might simplify my tracking.
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whodidntante
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Location: outside the echo chamber

Re: What’s Your 2023 Budget?

Post by whodidntante »

I'd have to know my income and my expenses, and everything. :P

I do look retroactively at spending sometimes.
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MrBobcat
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Re: What’s Your 2023 Budget?

Post by MrBobcat »

This is going to be a weird year for us as all of our big home improvement projects are done (been doing them for the last 3 years) and we have 2 newer cars. I am unsure what our "normal" spending will be like, may have to look at travel spending as we will have significantly more available cash to spend, but even still I can't fathom just spending what we've put towards the house/cars on stuff/travel.

Normal month to month spending, not counting health insurance as that is taken out of the mrs's paycheck has been pretty consistent between $3k-3.5K (for 2 people). After paying taxes we still saved (not counting the mrs's mandatory pension contribution) $111K last year and spent a net $22k on a car (new car $32k less $10k from selling old car) and another $26K on house improvements.

This will be the first time in our lives where we feel we are saving enough, spend freely on what we want to spend on and will still have $ left over. I've got a weird cost benefit thing going on inside my head whenever I think of spending money which means I don't usually want to spend it. I suspect it will be a much bigger problem for me when I actually quit work and have to start spending savings.
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sperry8
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Location: Miami FL

Re: What’s Your 2023 Budget?

Post by sperry8 »

TinyHouse wrote: Mon Jan 16, 2023 12:01 am Here’s our monthly budget for family of four, kids under age 10, HCOL, ~$1.5M portfolio, no debt, north of $200k annual income, we eat very high quality food, living in trailer on paid off bare land (budget was similar last year except we were paying more for housing previously):

Living/Utilities 600
Phones, vehicles 300
Food & Food related 2000
Medical 250
Miscellaneous 500
Total 3650

Will be using some income to start building in the coming year or two. We’ve kept everything pretty low-key so far.

What’s your budget for this year?
HCOL? Doesn't seem possible. How a family of four can live on $43,800 per year is beyond me.

Where is this house that fits 4 in a HCOL area that only costs $600 all in? Homeowners insurance, gardening (or HOA), electric, internet, property taxes, trash, water, house maintenance... all for $600 in HCOL?

Medical insurance for a family of 4 for $250 per month? What State is this? I pay $821 per month just for me. That is the lowest possible price in all of Florida for someone my age on the healthcare exchange.

Where is your budget for clothing? Do you ever buy furniture? Do you ever travel or take a vacation? Do you have any education expenses for your kids?
keith6014 wrote: Sat Jan 21, 2023 9:52 am Family of 4.
Expect to spend (roughly):
education - 50k
mortgage - 33k
misc - 30k
travel - 30k
groceries/alcohol - 25k
child care things - 20k
property taxes - 18k
car/home insurance - 5 k
utilities/phone - 5k
~225k
Now this makes more sense for a family of 4 in a HCOL
BH Contests: 23 #89 of 607 | 22 #512 of 674 | 21 #66 of 636 |20 #253/664 |19 #233/645 |18 #150/493 |17 #516/647 |16 #121/610 |15 #18/552 |14 #225/503 |13 #383/433 |12 #366/410 |11 #113/369 |10 #53/282
Wannaretireearly
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Re: Thread: What’s Your 2023 Budget?

Post by Wannaretireearly »

keith6014 wrote: Sat Jan 21, 2023 10:09 am
Wannaretireearly wrote: Mon Jan 16, 2023 2:27 am Well this will force me to put pen to paper!

No debt.

1. Fixed costs incl prop taxes, private school payment, utilities, insurance = $5-6K

2. Discretionary costs: travel, eating out, groceries, 🍷 = $4-6k

So, around $9 - $12k a month.

I’m looking forward to no private school payments.
Hate to break it to you....College! :beer
I’ve got 2-3 years of public school college expenses in 529s for each kid. I can’t wait forever ;)
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
printer86
Posts: 416
Joined: Mon Apr 25, 2016 8:45 am

Re: What’s Your 2023 Budget?

Post by printer86 »

togb wrote: Sat Jan 21, 2023 10:04 pm
printer86 wrote: Sat Jan 21, 2023 5:45 pm
Card 1 (Travel and Stuff) $ 84,367.45
Card 2 (Insurances, Gym & Dr.) $ 6,595.87
Card 3 (Groceries & Dining) $ 23,198.00

That's an interesting idea, using specific cards for specific expense categories. I've tried to use the card that gives the most cash back for the category, but it seems like lately there's not a big difference from one card to the next. This is something that might simplify my tracking.
Printer86 Response Below -

All of our spending is a result of debits from our joint checking account. Aside from the few ATM withdrawals, and the one time I accidentally used my debit card, all of our 2022 transactions are either checks or EFTs.

Of our 3 credit cards, cards 2 and 3 have specific purposes. Card 1 is where everything else goes. Card 3 offers a larger cash back reward for groceries and dining. Card 2 is tied to my insurance company (USAA). So, that's where we put all our insurance and any medical service payments. This allows me to easily track deductible medical costs if I ever choose to reimburse myself thru an HSA a withdrawal.

I can easily pull a detailed transaction report on my credit card websites if I want to dig deeper into our purchasing habits.
keith6014
Posts: 697
Joined: Thu Jan 02, 2014 10:58 pm

Re: What’s Your 2023 Budget?

Post by keith6014 »

sperry8 wrote: Sun Jan 22, 2023 1:36 am
TinyHouse wrote: Mon Jan 16, 2023 12:01 am Here’s our monthly budget for family of four, kids under age 10, HCOL, ~$1.5M portfolio, no debt, north of $200k annual income, we eat very high quality food, living in trailer on paid off bare land (budget was similar last year except we were paying more for housing previously):

Living/Utilities 600
Phones, vehicles 300
Food & Food related 2000
Medical 250
Miscellaneous 500
Total 3650

Will be using some income to start building in the coming year or two. We’ve kept everything pretty low-key so far.

What’s your budget for this year?
HCOL? Doesn't seem possible. How a family of four can live on $43,800 per year is beyond me.

Where is this house that fits 4 in a HCOL area that only costs $600 all in? Homeowners insurance, gardening (or HOA), electric, internet, property taxes, trash, water, house maintenance... all for $600 in HCOL?

Medical insurance for a family of 4 for $250 per month? What State is this? I pay $821 per month just for me. That is the lowest possible price in all of Florida for someone my age on the healthcare exchange.

Where is your budget for clothing? Do you ever buy furniture? Do you ever travel or take a vacation? Do you have any education expenses for your kids?
keith6014 wrote: Sat Jan 21, 2023 9:52 am Family of 4.
Expect to spend (roughly):
education - 50k
mortgage - 33k
misc - 30k
travel - 30k
groceries/alcohol - 25k
child care things - 20k
property taxes - 18k
car/home insurance - 5 k
utilities/phone - 5k
~225k
Now this makes more sense for a family of 4 in a HCOL
Yes, mine is considered VHCOL.
faanger101
Posts: 335
Joined: Sat Jul 30, 2022 6:20 pm

Re: What’s Your 2023 Budget?

Post by faanger101 »

TinyHouse wrote: Mon Jan 16, 2023 12:01 am Here’s our monthly budget for family of four, kids under age 10, HCOL, ~$1.5M portfolio, no debt, north of $200k annual income, we eat very high quality food, living in trailer on paid off bare land (budget was similar last year except we were paying more for housing previously):

Living/Utilities 600
Phones, vehicles 300
Food & Food related 2000
Medical 250
Miscellaneous 500
Total 3650
Is vacation encoded into Miscellaneous? Tough to believe that with such nice portfolio and HHI your family doesn't have this category :confused
bltn
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Joined: Mon Feb 20, 2017 8:32 pm

Re: Thread: What’s Your 2023 Budget?

Post by bltn »

KlangFool wrote: Mon Jan 16, 2023 7:38 am OP,

My house is paid off with zero debt. With the 15K of the annual mortgage payment gone. I plan to spend and save 60K per year on a household of 2. It is the same as 2022. I have to eat out more often and take more vacation to meet my goal.

KlangFool
And with you saving one year of spending every year, as well as having the mortgage paid off, you re in a very good position.

Congratulations.
KlangFool
Posts: 31426
Joined: Sat Oct 11, 2008 12:35 pm

Re: Thread: What’s Your 2023 Budget?

Post by KlangFool »

bltn wrote: Sun Jan 22, 2023 7:39 pm
KlangFool wrote: Mon Jan 16, 2023 7:38 am OP,

My house is paid off with zero debt. With the 15K of the annual mortgage payment gone. I plan to spend and save 60K per year on a household of 2. It is the same as 2022. I have to eat out more often and take more vacation to meet my goal.

KlangFool
And with you saving one year of spending every year, as well as having the mortgage paid off, you re in a very good position.

Congratulations.
Thanks.

Actually, I am financially independent. I can retire at any time now.

KlangFool
30% VWENX | 16% VFWAX/VTIAX | 14.5% VTSAX | 19.5% VBTLX | 10% VSIAX/VTMSX/VSMAX | 10% VSIGX| 30% Wellington 50% 3-funds 20% Mini-Larry
heyyou
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Re: What’s Your 2023 Budget?

Post by heyyou »

by Marseille07 » Mon Jan 16, 2023 9:55 am
My budget is my planned WR out of my portfolio even though I'm not withdrawing. This allows me to save up quite a bit as well as get a feel for retirement life in terms of the volatility of budget.
That is wise, practicing retirement spending, prior to retiring.

My annual spending is my RMD % times my recent annual total portfolio value, plus dividends and interest--the RMD spending method. 4.05% is this year's WD percentage.
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AnnetteLouisan
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Location: New York, NY

Re: Thread: What’s Your 2023 Budget?

Post by AnnetteLouisan »

KlangFool wrote: Sun Jan 22, 2023 8:06 pm
bltn wrote: Sun Jan 22, 2023 7:39 pm
KlangFool wrote: Mon Jan 16, 2023 7:38 am OP,

My house is paid off with zero debt. With the 15K of the annual mortgage payment gone. I plan to spend and save 60K per year on a household of 2. It is the same as 2022. I have to eat out more often and take more vacation to meet my goal.

KlangFool
And with you saving one year of spending every year, as well as having the mortgage paid off, you re in a very good position.

Congratulations.
Thanks.

Actually, I am financially independent. I can retire at any time now.

KlangFool
Congratulations, KF! Well done!
And by the way with all the tech layoffs lately I think it’s very big of you never to have said “I told you so,” as some mere mortals would have.
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retireIn2020
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Re: What’s Your 2023 Budget?

Post by retireIn2020 »

I'm retired and drawing from my portfolio; I only use two categories for simplicity.
Non-Discretionary and Discretionary. My (conservative) savings withdrawal rate sets the amount of my budget.

Monthly budget.
Non-Discretionary = $2500
Discretionary = $3450
https://www.merriam-webster.com/dictionary/abide
goldendad
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Re: What’s Your 2023 Budget?

Post by goldendad »

2 of us - retired. Debt free. $5k/month. We rarely spend that much.
erishera
Posts: 128
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Re: Thread: What’s Your 2023 Budget?

Post by erishera »

gwanghoops wrote: Tue Jan 17, 2023 1:00 am My actual expenses in 2022 at roughly $5500/mo.
Retirement budget is $8700/mo which includes $2000/mo travel which we haven't done.
SS @ 70 & pension should cover this conservatively.

Retired and wife will retire this year.

Costco & Sams Club $906
Household $748
Leisure $546
Property Tax $470
Vacation $467
LTC Insurance $355
Healthcare (out of pocket) $281
Food + Dining Out $244
Electronics $156
TV & Internet $136
Homeowners Insurance $127
Car Insurance $117
Life Insurance $115
Car Maintenance $114
Guns / Shooting $98
Exercise $95
Cell Phones $80
Natural Gas $79
Water $68
DMV $56
Trash $39
Macy's $30
Computer / Software / Internet $29
Umbrella Policy $20
Alarm $20

Total $5400/mo
would you mind sharing what you get at Sam's vs Costco or vise versa?
takeabiteoflife
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Re: What’s Your 2023 Budget?

Post by takeabiteoflife »

Family of 4 in VHCOL area
With inflation, food costs are up 20-30%+
Spent $13-14K / month last year and expect about the same this year, though we are traveling more now the kids are in teenage years so that could drive $$ up
8301
Posts: 942
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Re: What’s Your 2023 Budget?

Post by 8301 »

keith6014 wrote: Sat Jan 21, 2023 9:52 am Family of 4.
Expect to spend (roughly):
education - 50k
mortgage - 33k
misc - 30k
travel - 30k
groceries/alcohol - 25k
child care things - 20k
property taxes - 18k
car/home insurance - 5 k
utilities/phone - 5k
~225k
Your yearly budget appears to be on the high side.
Note:
Education & child care - these things happen in life.
After subtracting the above - 155k : looks more normal.
Housing related - nothing unusual.
Isn't insurance a little too high? Expensive auto insurance?
Misc - means anything.
If groceries/alcohol includes restaurants, it looks normal.
gwanghoops
Posts: 25
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Re: Thread: What’s Your 2023 Budget?

Post by gwanghoops »

erishera wrote: Sun Jan 22, 2023 11:13 pm
gwanghoops wrote: Tue Jan 17, 2023 1:00 am My actual expenses in 2022 at roughly $5500/mo.
Retirement budget is $8700/mo which includes $2000/mo travel which we haven't done.
SS @ 70 & pension should cover this conservatively.

Retired and wife will retire this year.

Costco & Sams Club $906
Household $748
Leisure $546
Property Tax $470
Vacation $467
LTC Insurance $355
Healthcare (out of pocket) $281
Food + Dining Out $244
Electronics $156
TV & Internet $136
Homeowners Insurance $127
Car Insurance $117
Life Insurance $115
Car Maintenance $114
Guns / Shooting $98
Exercise $95
Cell Phones $80
Natural Gas $79
Water $68
DMV $56
Trash $39
Macy's $30
Computer / Software / Internet $29
Umbrella Policy $20
Alarm $20

Total $5400/mo
would you mind sharing what you get at Sam's vs Costco or vise versa?
You got me there...Costco & Sams Club are broken out differently than Food because it's very difficult to categorize each purchase at warehouse clubs.
Overall: 60% Costco / 40% Sams Club, totally guessing 40% household supplies, 40% actual groceries, 20% other.
KlangFool
Posts: 31426
Joined: Sat Oct 11, 2008 12:35 pm

Re: Thread: What’s Your 2023 Budget?

Post by KlangFool »

AnnetteLouisan wrote: Sun Jan 22, 2023 9:10 pm
KlangFool wrote: Sun Jan 22, 2023 8:06 pm
bltn wrote: Sun Jan 22, 2023 7:39 pm
KlangFool wrote: Mon Jan 16, 2023 7:38 am OP,

My house is paid off with zero debt. With the 15K of the annual mortgage payment gone. I plan to spend and save 60K per year on a household of 2. It is the same as 2022. I have to eat out more often and take more vacation to meet my goal.

KlangFool
And with you saving one year of spending every year, as well as having the mortgage paid off, you re in a very good position.

Congratulations.
Thanks.

Actually, I am financially independent. I can retire at any time now.

KlangFool
Congratulations, KF! Well done!
And by the way with all the tech layoffs lately I think it’s very big of you never to have said “I told you so,” as some mere mortals would have.
Sorry. I did once in my recent post. I am mere mortal. I will do a better job of not doing it again.

KlangFool
30% VWENX | 16% VFWAX/VTIAX | 14.5% VTSAX | 19.5% VBTLX | 10% VSIAX/VTMSX/VSMAX | 10% VSIGX| 30% Wellington 50% 3-funds 20% Mini-Larry
MDfan
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Re: What’s Your 2023 Budget?

Post by MDfan »

lws wrote: Sat Jan 21, 2023 4:19 pm Retired.
No written budget.
Meet expenses as they come.
Me too (except almost retired). We've never had a budget and we just spend what we need/want to spend. We don't live extravagantly by any means, but we spend on the things we like to do. Our travel for 2023 is going to be somewhere in the 20k range and I expect it to be somewhere around this high for the foreseeable future while we can travel easily. Have about 6-8 trips planned (not including visiting kids). That's by far our biggest expense. Still have a mortgage for 10 more years.
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TinyHouse
Posts: 423
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Re: What’s Your 2023 Budget?

Post by TinyHouse »

faanger101 wrote: Sun Jan 22, 2023 5:47 pm
TinyHouse wrote: Mon Jan 16, 2023 12:01 am Here’s our monthly budget for family of four, kids under age 10, HCOL, ~$1.5M portfolio, no debt, north of $200k annual income, we eat very high quality food, living in trailer on paid off bare land (budget was similar last year except we were paying more for housing previously):

Living/Utilities 600
Phones, vehicles 300
Food & Food related 2000
Medical 250
Miscellaneous 500
Total 3650
Is vacation encoded into Miscellaneous? Tough to believe that with such nice portfolio and HHI your family doesn't have this category :confused
Ah good question, yes Misc covers things like trips, but we don’t do traditional vacations. We camp, hike, visit family or friends, etc. so we might buy some cheap flights now and then, but we don’t pay for hotels, etc.

Misc also includes giving, unexpected things, etc
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TinyHouse
Posts: 423
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Re: What’s Your 2023 Budget?

Post by TinyHouse »

sperry8 wrote: Sun Jan 22, 2023 1:36 am
TinyHouse wrote: Mon Jan 16, 2023 12:01 am Here’s our monthly budget for family of four, kids under age 10, HCOL, ~$1.5M portfolio, no debt, north of $200k annual income, we eat very high quality food, living in trailer on paid off bare land (budget was similar last year except we were paying more for housing previously):

Living/Utilities 600
Phones, vehicles 300
Food & Food related 2000
Medical 250
Miscellaneous 500
Total 3650

Will be using some income to start building in the coming year or two. We’ve kept everything pretty low-key so far.

What’s your budget for this year?
HCOL? Doesn't seem possible. How a family of four can live on $43,800 per year is beyond me.

Where is this house that fits 4 in a HCOL area that only costs $600 all in? Homeowners insurance, gardening (or HOA), electric, internet, property taxes, trash, water, house maintenance... all for $600 in HCOL?

Medical insurance for a family of 4 for $250 per month? What State is this? I pay $821 per month just for me. That is the lowest possible price in all of Florida for someone my age on the healthcare exchange.

Where is your budget for clothing? Do you ever buy furniture? Do you ever travel or take a vacation? Do you have any education expenses for your kids?
Check out my first post: viewtopic.php?p=6703033#p6703033

We live on paid off their land in a tiny house on wheels. You are absolutely right, most people in a HCOL would have nothing to do with what we are doing, let alone be able to spend what we spend. But it’s getting more popular than you think.

Taking trash to the dump is free in our area, and there is hardly any maintenance, only seasonal small things. Property taxes are cheap because we don’t have a house on it.

I’m not retired yet, so we don’t pay anything for medical for family, other than copays or alternative medical treatment or supplements. Quality food and active lifestyle is our medicine/doctor.

We can’t fit any more clothing or furniture in our tiny house lol… we don’t buy much in the way of normal consumer items. Bought a nice used chainsaw recently though!

Education question is discussed in my first post which you can search.
erishera
Posts: 128
Joined: Fri Jan 06, 2017 1:50 pm

Re: Thread: What’s Your 2023 Budget?

Post by erishera »

gwanghoops wrote: Mon Jan 23, 2023 12:39 am
erishera wrote: Sun Jan 22, 2023 11:13 pm
gwanghoops wrote: Tue Jan 17, 2023 1:00 am My actual expenses in 2022 at roughly $5500/mo.
Retirement budget is $8700/mo which includes $2000/mo travel which we haven't done.
SS @ 70 & pension should cover this conservatively.

Retired and wife will retire this year.

Costco & Sams Club $906
Household $748
Leisure $546
Property Tax $470
Vacation $467
LTC Insurance $355
Healthcare (out of pocket) $281
Food + Dining Out $244
Electronics $156
TV & Internet $136
Homeowners Insurance $127
Car Insurance $117
Life Insurance $115
Car Maintenance $114
Guns / Shooting $98
Exercise $95
Cell Phones $80
Natural Gas $79
Water $68
DMV $56
Trash $39
Macy's $30
Computer / Software / Internet $29
Umbrella Policy $20
Alarm $20

Total $5400/mo
would you mind sharing what you get at Sam's vs Costco or vise versa?
You got me there...Costco & Sams Club are broken out differently than Food because it's very difficult to categorize each purchase at warehouse clubs.
Overall: 60% Costco / 40% Sams Club, totally guessing 40% household supplies, 40% actual groceries, 20% other.
but why do you go to both? is it typical?
faanger101
Posts: 335
Joined: Sat Jul 30, 2022 6:20 pm

Re: What’s Your 2023 Budget?

Post by faanger101 »

TinyHouse wrote: Wed Jan 25, 2023 9:33 am
faanger101 wrote: Sun Jan 22, 2023 5:47 pm
TinyHouse wrote: Mon Jan 16, 2023 12:01 am Here’s our monthly budget for family of four, kids under age 10, HCOL, ~$1.5M portfolio, no debt, north of $200k annual income, we eat very high quality food, living in trailer on paid off bare land (budget was similar last year except we were paying more for housing previously):

Living/Utilities 600
Phones, vehicles 300
Food & Food related 2000
Medical 250
Miscellaneous 500
Total 3650
Is vacation encoded into Miscellaneous? Tough to believe that with such nice portfolio and HHI your family doesn't have this category :confused
Ah good question, yes Misc covers things like trips, but we don’t do traditional vacations. We camp, hike, visit family or friends, etc. so we might buy some cheap flights now and then, but we don’t pay for hotels, etc.

Misc also includes giving, unexpected things, etc
So it’s 6k annually for everything you listed? I also do camping+fishing with my eldest and the weekly price for us is ~1k. Which gives us 4k annual if we do only this type of vacations (and is for 2 ppl instead of 4). Have no clue how it can be 6k annual including flights, giving, unexpected things etc :confused
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Topic Author
TinyHouse
Posts: 423
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Re: What’s Your 2023 Budget?

Post by TinyHouse »

faanger101 wrote: Wed Jan 25, 2023 12:58 pm
TinyHouse wrote: Wed Jan 25, 2023 9:33 am
faanger101 wrote: Sun Jan 22, 2023 5:47 pm
TinyHouse wrote: Mon Jan 16, 2023 12:01 am Here’s our monthly budget for family of four, kids under age 10, HCOL, ~$1.5M portfolio, no debt, north of $200k annual income, we eat very high quality food, living in trailer on paid off bare land (budget was similar last year except we were paying more for housing previously):

Living/Utilities 600
Phones, vehicles 300
Food & Food related 2000
Medical 250
Miscellaneous 500
Total 3650
Is vacation encoded into Miscellaneous? Tough to believe that with such nice portfolio and HHI your family doesn't have this category :confused
Ah good question, yes Misc covers things like trips, but we don’t do traditional vacations. We camp, hike, visit family or friends, etc. so we might buy some cheap flights now and then, but we don’t pay for hotels, etc.

Misc also includes giving, unexpected things, etc
So it’s 6k annually for everything you listed? I also do camping+fishing with my eldest and the weekly price for us is ~1k. Which gives us 4k annual if we do only this type of vacations (and is for 2 ppl instead of 4). Have no clue how it can be 6k annual including flights, giving, unexpected things etc :confused
Ever heard of credit card miles? :mrgreen: :beer
faanger101
Posts: 335
Joined: Sat Jul 30, 2022 6:20 pm

Re: What’s Your 2023 Budget?

Post by faanger101 »

TinyHouse wrote: Wed Jan 25, 2023 3:49 pm
faanger101 wrote: Wed Jan 25, 2023 12:58 pm
TinyHouse wrote: Wed Jan 25, 2023 9:33 am
faanger101 wrote: Sun Jan 22, 2023 5:47 pm
TinyHouse wrote: Mon Jan 16, 2023 12:01 am Here’s our monthly budget for family of four, kids under age 10, HCOL, ~$1.5M portfolio, no debt, north of $200k annual income, we eat very high quality food, living in trailer on paid off bare land (budget was similar last year except we were paying more for housing previously):

Living/Utilities 600
Phones, vehicles 300
Food & Food related 2000
Medical 250
Miscellaneous 500
Total 3650
Is vacation encoded into Miscellaneous? Tough to believe that with such nice portfolio and HHI your family doesn't have this category :confused
Ah good question, yes Misc covers things like trips, but we don’t do traditional vacations. We camp, hike, visit family or friends, etc. so we might buy some cheap flights now and then, but we don’t pay for hotels, etc.

Misc also includes giving, unexpected things, etc
So it’s 6k annually for everything you listed? I also do camping+fishing with my eldest and the weekly price for us is ~1k. Which gives us 4k annual if we do only this type of vacations (and is for 2 ppl instead of 4). Have no clue how it can be 6k annual including flights, giving, unexpected things etc :confused
Ever heard of credit card miles? :mrgreen: :beer
For camping, giving and unexpected things? Nope :mrgreen:
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Topic Author
TinyHouse
Posts: 423
Joined: Mon May 30, 2022 9:05 pm

Re: What’s Your 2023 Budget?

Post by TinyHouse »

faanger101 wrote: Wed Jan 25, 2023 7:41 pm
TinyHouse wrote: Wed Jan 25, 2023 3:49 pm
faanger101 wrote: Wed Jan 25, 2023 12:58 pm
TinyHouse wrote: Wed Jan 25, 2023 9:33 am
faanger101 wrote: Sun Jan 22, 2023 5:47 pm

Is vacation encoded into Miscellaneous? Tough to believe that with such nice portfolio and HHI your family doesn't have this category :confused
Ah good question, yes Misc covers things like trips, but we don’t do traditional vacations. We camp, hike, visit family or friends, etc. so we might buy some cheap flights now and then, but we don’t pay for hotels, etc.

Misc also includes giving, unexpected things, etc
So it’s 6k annually for everything you listed? I also do camping+fishing with my eldest and the weekly price for us is ~1k. Which gives us 4k annual if we do only this type of vacations (and is for 2 ppl instead of 4). Have no clue how it can be 6k annual including flights, giving, unexpected things etc :confused
Ever heard of credit card miles? :mrgreen: :beer
For camping, giving and unexpected things? Nope :mrgreen:
See highlighted text above
strummer6969
Posts: 978
Joined: Tue Dec 15, 2020 10:59 am

Re: What’s Your 2023 Budget?

Post by strummer6969 »

~$8-$10k/mo for 4 humans and 1 non-human with no mortgage. MCOL. The biggest spend is on the kids. We're mindful of not being wasteful but don't really keep track of any budget. I keep an eye on our savings and go through the credit card statements every month.
Last edited by strummer6969 on Thu Jan 26, 2023 5:14 pm, edited 1 time in total.
gwanghoops
Posts: 25
Joined: Sat Jan 07, 2023 6:17 pm

Re: Thread: What’s Your 2023 Budget?

Post by gwanghoops »

erishera wrote: Wed Jan 25, 2023 11:08 am
gwanghoops wrote: Mon Jan 23, 2023 12:39 am
erishera wrote: Sun Jan 22, 2023 11:13 pm would you mind sharing what you get at Sam's vs Costco or vise versa?
You got me there...Costco & Sams Club are broken out differently than Food because it's very difficult to categorize each purchase at warehouse clubs.
Overall: 60% Costco / 40% Sams Club, totally guessing 40% household supplies, 40% actual groceries, 20% other.
but why do you go to both? is it typical?
Lots of overlap but neither does everything well (more food + online @ SC but it's 20+ mi away, more everything else @ Costco which is nearby).
YMMV. Typical? probably not.
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Silly Wabbit
Posts: 318
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Re: What’s Your 2023 Budget?

Post by Silly Wabbit »

-----
Last edited by Silly Wabbit on Fri Feb 10, 2023 2:12 pm, edited 1 time in total.
Normchad
Posts: 5630
Joined: Thu Mar 03, 2011 6:20 am

Re: What’s Your 2023 Budget?

Post by Normchad »

Silly Wabbit wrote: Wed Jan 25, 2023 8:51 pm Mortgage: $51k
Daycare: 39k
Car insurance: $2k
Utilities: $8k
Car loan: $6k
Travel: $35k
College tuition: $62k
Everything else: $72k

Total: $275k

Our expenses will drop substantially in several years as the older kid finishes college and the younger one starts public school!

It's interesting to see the very detailed budgets kept by some. I tried using Mint, but it took to much effort to label transactions.
Oh my goodness. Paying daycare and college tuition in the same year would make me cry.
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Silly Wabbit
Posts: 318
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Re: What’s Your 2023 Budget?

Post by Silly Wabbit »

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Last edited by Silly Wabbit on Fri Feb 10, 2023 2:12 pm, edited 1 time in total.
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: Thread: What’s Your 2023 Budget?

Post by Jags4186 »

Grt2bOutdoors wrote: Thu Jan 19, 2023 6:48 pm
JimmyD wrote: Mon Jan 16, 2023 9:54 am
Jags4186 wrote: Mon Jan 16, 2023 9:44 am
JimmyD wrote: Mon Jan 16, 2023 9:17 am
Jags4186 wrote: Mon Jan 16, 2023 8:39 am

Code: Select all

Category				Amount Yrly
PITI					$28,445.00
Day Care				$15,600.00
Groceries				$12,000.00
OOP Medical				$6,000.00
Home Maintenance			$4,800.00
Cleaning Service (every 2 wks)		$3,780.00
Utilities (PSEG, Verizon, Water)	$3,096.00
Gifts					$3,000.00
Shopping				$3,000.00
Restaurants/Eating Out			$3,000.00
Life Insurance				$2,964.00
Car Insurance				$2,520.00
Auto Maintenance			$2,000.00
Misc					$2,000.00
Lawn Care				$2,000.00
Entertainment				$1,800.00
Gas					$1,800.00
Travel					$1,200.00
Alcohol					$600.00
Streaming				$300.00
Jewelry Insurance			$276.00
Cell Phone				$196.20
Total					$100,377
Groceries includes everything we buy at the grocery store including all sundries like diapers, soaps, detergents, paper products etc.

Personally, I feel we spend *a lot* without much to show for it.
Whew. I thought we were the only ones spending this much.
Nope. I don't understand how families do it on signficantly less, TBH. We don't go anywhere. We don't do anything.
We're in the same boat. After all necessary expenses and savings are accounted for, there's really nothing left over. We're just about able to eek out a decent vacation once a year, but definitely nothing extravagant. Inflation has obliterated our spending power and our wages aren't even close to keeping pace.
A budget means you allotted some sum for a particular category. Do you actually spend that allotted amount each and every year? For instance, you have Jags - $4800 for home maintenance, $2K for lawn, $3K for shopping and $3K for gifts. Of the 12.8K, how much are you really spending? The $6K OOP for health, are you really spending it or is that what you are budgeting? Unlike a government zero based budgeting scheme where they actually do spend to the penny what has been budgeted and then start anew the following fiscal year, people have the option to save what is not spent. Those saved dollars could be used in future budgets or not.

As for what families do for less, it's a function of reality - if you earn less then it is not sustainable to spend above what flows in the household for an extended period of time. Cash flow and earnings matter and hence, they are forced to make choices that may or may not be appealing to you. Your budget is not that far out of whack, though $3K for gifts is generous as is $3K for shopping unless you are meaning new clothes for the kids, shoes, etc. Some do their own lawn and save the difference even if their lawn isn't the nicest looking in the neighborhood. Some don't eat out or order out often. I don't use a cleaning service, though it seems to be very popular with at least 3 of my closest neighbors. That's another $4K there.
$4800 for home maintenance is a “hopeful amount” that I will not spend more on—1% of the purchase price of the house. There are some deferred maintenance items that need to be done around here that if nothing big ticket comes up, I will get fixed. Of course, a handy person could probably do all of the things I want done. I am not handy. Most attempts to be handy end up with me paying someone to fix my mess ups. Last year I was out $15k to install a basement drain tile system/sump pump so I didn’t do a lot of the basic maintenance. Also includes things like gutter cleaning.

$2k for lawn is what I actually spent last year on 1200 lbs of mulch that I put down, and lawn cutting service/leaf removal/mosquito and tick treatment.

$3k shopping includes any clothing/shoes/furniture/Christmas tree/decorations/party supplies/“stuff from Amazon” for me, the wife, and kiddo. It all adds up.

$3k for gifts is a struggle to stay in bounds on because I’m in a heavy gift giving family. We’ve managed to do it. Paradoxically when you have a small family everyone expects/gives a gift. When you have a large family, those expectations go away because it's unreasonable.

$6k for OOP medical expenses is a best guess what we’ll spend. We’re out $1200 automatically because that is the maintenance cost on frozen embryos we have. And if you have a HDHP you quickly realize how expensive it is to use any sort of medical service. In January alone we will have spent $477 on OOP medical expenses. This is in line with or below what we've spent over the past few years.

Sure, could I eliminate some things? Yea, I could not have a cleaning service. I could cut my own grass. I could never eat in a restaurant or order take out. But my goal isn't to live the most austere life possible. The comment is that I spend a lot, but a lot goes towards a ton of necessities. As for how people do it on less...of course. If you only make $50k/yr you can't spend more than $50k. You might rent an apartment -- away goes lawn care expenses and away goes home maintenance. Maybe you have a grandparent who watches your kid for free. I have friends are in the enviable situation.

edited for spelling and a few extra notes/thoughts.
Last edited by Jags4186 on Thu Jan 26, 2023 8:00 am, edited 3 times in total.
billy269
Posts: 154
Joined: Mon Nov 18, 2013 1:50 pm

Re: What’s Your 2023 Budget?

Post by billy269 »

House and autos paid off and no kids, so...

MONTHLY:
Food: 350
Prop Taxes: 125
Home Ins: 410
Electric: 130
Heat: 70
Internet: 60
Auto Ins: 92
Gas: 30
Pet Food/Meds: 15
Life Ins: 40
Garbage: 25
Umbrella Ins: 15
Cell phone (2 lines): 5
Misc: 500
TOTAL: $1867/m

$1867 per month
$22,404 per year if no emergencies
faanger101
Posts: 335
Joined: Sat Jul 30, 2022 6:20 pm

Re: What’s Your 2023 Budget?

Post by faanger101 »

TinyHouse wrote: Wed Jan 25, 2023 7:53 pm
faanger101 wrote: Wed Jan 25, 2023 7:41 pm
TinyHouse wrote: Wed Jan 25, 2023 3:49 pm
faanger101 wrote: Wed Jan 25, 2023 12:58 pm
TinyHouse wrote: Wed Jan 25, 2023 9:33 am

Ah good question, yes Misc covers things like trips, but we don’t do traditional vacations. We camp, hike, visit family or friends, etc. so we might buy some cheap flights now and then, but we don’t pay for hotels, etc.

Misc also includes giving, unexpected things, etc
So it’s 6k annually for everything you listed? I also do camping+fishing with my eldest and the weekly price for us is ~1k. Which gives us 4k annual if we do only this type of vacations (and is for 2 ppl instead of 4). Have no clue how it can be 6k annual including flights, giving, unexpected things etc :confused
Ever heard of credit card miles? :mrgreen: :beer
For camping, giving and unexpected things? Nope :mrgreen:
See highlighted text above
See bold text above :?
faanger101
Posts: 335
Joined: Sat Jul 30, 2022 6:20 pm

Re: What’s Your 2023 Budget?

Post by faanger101 »

Silly Wabbit wrote: Wed Jan 25, 2023 8:51 pm Mortgage: $51k
Daycare: 39k
Car insurance: $2k
Utilities: $8k
Car loan: $6k
Travel: $35k
College tuition: $62k
Everything else: $72k

Total: $275k

Our expenses will drop substantially in several years as the older kid finishes college and the younger one starts public school!

It's interesting to see the very detailed budgets kept by some. I tried using Mint, but it took to much effort to label transactions.
Do you have 2 kids or more?
batman
Posts: 62
Joined: Wed Nov 20, 2019 2:32 am

Re: What’s Your 2023 Budget?

Post by batman »

Here is a budget from Europe (Austria). Single, early 30ies:

3840 EUR Mortgage (50K remaining)
4000 EUR Other housing cost (Utilities, heating, ...)
950 EUR Car Insurance
1600 EUR Car Running Cost
6000 EUR Groceries
2500 EUR Vacation
2000 EUR Outdoor Activities (Skiing, MTB,....) including Gear
3000 EUR Other Daily Expenses

23890 EUR TOTAL (versus ca. 80 KEUR net income)
JS-Elcano
Posts: 988
Joined: Wed Jun 10, 2020 7:29 pm

Re: What’s Your 2023 Budget?

Post by JS-Elcano »

Housing (PITI, utilities, HOA, maintenance) $26,556
Insurance (home, car, LTD, medical/dental/vision) $6,842 (2022 numbers, 2023 rates will likely go up)
Groceries (food, hygiene, household items) $6600
Services (phone, streaming, internet, AAA) $1,767
Automotive (gas, registration, maintenance, parking) $2,283
Entertainment (travel, tickets, dining out, hobbies) $25,100
Misc (clothing/gear, gifts, donations, other) $13,800
Annual Total $82,948

The bulk (~20k) of entertainment is for travel.
MathWizard
Posts: 6542
Joined: Tue Jul 26, 2011 1:35 pm

Re: What’s Your 2023 Budget?

Post by MathWizard »

Base budget is $3500/month
Medical is paid through work,
but will be about $12K/ yr in retirement.

Does not count about $10K/yr for car replacement or house maintenance.
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