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Where does your money go?


Forum: Financial Planning and Budgeting

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  • 1 Post By jessica2012

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  #1  
November 16th, 2012, 11:11 PM
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Join Date: Nov 2012
Posts: 12
I never calculate our monthly living expense before. Recently a friend points me to this calculator, after the calculation I was shocked . Dining out takes a big part in our expense.
Although I thought our income is pretty good, our affordable level from the calculator seems pretty low 4 and 1.
I'd like to know other middle-class families affordable level, if you don't mind sharing.
Living Expense Calculator: Understand Where Your Money Goes
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  #2  
November 20th, 2012, 10:58 PM
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Join Date: Aug 2005
Location: USA
Posts: 7,429
We're at 3 and 4.
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  #3  
November 21st, 2012, 09:20 AM
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Posts: 32,940
Ours came back 5 and 3.

I track where every penny goes, so there are no surprises for me.

While that site gives a decent start to looking at your spending, I still think there are some things missing from there (like consumer debt, if you have it, you need to really adjust your lifestyle to get it paid down!)
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  #4  
November 21st, 2012, 09:36 AM
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Quote:
Originally Posted by ~Kris~ View Post
Ours came back 5 and 3.

I track where every penny goes, so there are no surprises for me.

While that site gives a decent start to looking at your spending, I still think there are some things missing from there (like consumer debt, if you have it, you need to really adjust your lifestyle to get it paid down!)
I completely agree! Other than a mortgage or car payment, I did not see anything for credit card debt, medical debt, etc.

I also track every penny in a spreadsheet, and do a written budget each month so I know exactly what we're spending and I only allot so much for each category.

And yes, eating out sucks up A LOT from a budget. FAR cheaper to buy fresh food at the store (not processed...i.e. frozen dinners, boxed stuff, etc) and cook it, than to eat out in any capacity. Much healthier too.
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  #5  
November 22nd, 2012, 06:22 AM
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Join Date: Nov 2012
Posts: 5
Oh yeah, I also track every penny. My point is that there has to be also a little bit of luxury in the life. For example I like watches – after I got my baby I told my husband that it would be nice to have some nice wrist watch. He is earning a lot of money so you understand; he brought me a Maurice Lacroix. What do you think is it too egoistic of me?
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  #6  
November 22nd, 2012, 11:15 AM
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Well, if you're at a 1, yes having fun is a good thing, but seems like you guys may be putting too much towards other things. But, only you know how financialy stable you are or are not and only you can judge if you should be saving/investing more or spending less on frivilous stuff, etc. Eating out is not only awful for your pocket book but it's beyond awful for your health as well. So, that may be a good start, to start cooking and eating at home. You will be healthier for it and your bank account will thank you too!
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  #7  
November 23rd, 2012, 01:40 AM
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Quote:
Originally Posted by Mommie2One View Post
Well, if you're at a 1, yes having fun is a good thing, but seems like you guys may be putting too much towards other things. But, only you know how financialy stable you are or are not and only you can judge if you should be saving/investing more or spending less on frivilous stuff, etc. Eating out is not only awful for your pocket book but it's beyond awful for your health as well. So, that may be a good start, to start cooking and eating at home. You will be healthier for it and your bank account will thank you too!
You are totally right!
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  #8  
November 27th, 2012, 10:06 AM
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Join Date: Nov 2012
Posts: 6
I think all game in our hand. we spend money useless, and end of the budget we shocked, and ask to himself! Oops where is money? So we can save and compress money yourself.

organizational performance improvement

Last edited by Abelard66; November 29th, 2012 at 05:50 AM.
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  #9  
December 3rd, 2012, 05:54 AM
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Join Date: Nov 2012
Posts: 5
You are totally right!
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  #10  
December 11th, 2012, 06:09 PM
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Join Date: Jun 2012
Posts: 129
lol,. I felt the same way,. We are earning much but don't know where the money is,. so I started to list and use a mobile apps and known that what I considered "little things" when some up in the end of the month is too much,.. specially in the "eating out" category,.. so listing even a single penny is really needed. I am using the CW money now and thinking to purchase the paid version,. I had just use the free version and some features are disable but it is already helpful for me. Goodluck!
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  #11  
May 13th, 2014, 02:33 AM
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Join Date: May 2014
Posts: 21
I am also aware where our money goes.
It is mainly foods, bills like electricity, water and internet, and school expenses.
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  #12  
May 13th, 2014, 07:25 AM
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Join Date: Jun 2013
Location: Colorado
Posts: 986
Mine came back 5 and 3. The biggest money sucker is the auto expenses, which I expect will probably continue to be since we've been talking about getting another car since I'm pregnant. We don't live an extravagant lifestyle, we're just comfortable.
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