What's your top 3 budget expenses?

Simple living, extreme early retirement, being wealthy, ...
7Wannabe5
Posts: 5321
Joined: Fri Oct 18, 2013 9:03 am

Re: What's your top 3 budget expenses?

Post by 7Wannabe5 » Tue Jul 09, 2019 1:02 pm

bigato wrote:7w5: I'd call your categories Social, Learning and Housing. Considering a 800/month average, discarding the outlier here, we could reconstruct your expenses this month approximately like this:
1) Social (83.7%), 2) Learning (5.3%), 3) Housing (2.7%), 4) Other (16.3%) (other being 800-174-89=537). Total 3300, which by chance is a nice round number thus making me positive that it can't possibly be wrong (and there you have your data science lesson for today).
Your top 3 represent 91.7% of all expenses for the month, and the fact that Social is over 80% is so representative of you :)
Hmmm...why do I get the funny feeling that if I enrolled in your Data Science Camp, I might end up best qualified for internship at 2005 Lehman Brothers? :lol:

Anyways, here's a link to a post when I was doing a much better job of categorizing and tracking expenses. I even performed a silly data science experiment on my web of goals!


viewtopic.php?f=9&t=5491&start=60#p107759


Anyways, I was thinking that somebody (maybe me) should do some k-means cluster analysis on forum member data, so that we will all know what lunch table we should sit at during imaginary future whole forum meet-up encampment event. Of course, Jacob could also make use of this information in order to better target his future marketing efforts.

Peanut
Posts: 399
Joined: Sat Feb 14, 2015 2:18 pm

Re: What's your top 3 budget expenses?

Post by Peanut » Tue Jul 09, 2019 9:02 pm

Roughly,
1) Housing 20% (Property tax and assessments)
2) Charitable conts. 20% (Unusual year; my general goal is 10%)
3) Food 20% (Groceries and eating out)

J_
Posts: 627
Joined: Tue Nov 01, 2011 4:12 pm
Location: Netherlands/Austria

Re: What's your top 3 budget expenses?

Post by J_ » Thu Jul 11, 2019 4:49 am

Top three expenses are:

Taxes (on capital) 52 %
Food 18 %
Housing 17 %

I live in a country which has a taxation on your savings-amount.
It is what it is, I do not complain.

horsewoman
Posts: 174
Joined: Fri Jun 07, 2019 4:11 am

Re: What's your top 3 budget expenses?

Post by horsewoman » Thu Jul 11, 2019 6:51 am

First half of 2019:

1) Loan photovoltaic unit 26% (done last month, YAY!)
2) Taxes 21%
3) Housing and Shopping both each 10%
4) mobility, food, insurance each 7%

We need to get our shopping in check ASAP. What do we have to show for all this money!?

anesde
Posts: 101
Joined: Wed Jan 09, 2019 8:32 am

Re: What's your top 3 budget expenses?

Post by anesde » Thu Jul 11, 2019 7:28 am

J_ wrote:
Thu Jul 11, 2019 4:49 am
Top three expenses are:

Taxes (on capital) 52 %
Food 18 %
Housing 17 %

I live in a country which has a taxation on your savings-amount.
It is what it is, I do not complain.
What country? Either your food/housing is really low, the tax is really high, or you have a lot of capital. I assume probably a combination of the three?

Also curious whether you would have the ability to shift your savings offshore to a different country that doesn’t tax it? A wealth tax in general doesn’t make a lot of sense to me. I’m sure there are solid arguments for/against but it always seemed to me that it has a negative real impact on just driving people away.

Would you have a certain taxation point where it wouldn’t make sense to continue living in your country?

J_
Posts: 627
Joined: Tue Nov 01, 2011 4:12 pm
Location: Netherlands/Austria

Re: What's your top 3 budget expenses?

Post by J_ » Thu Jul 11, 2019 8:20 am

@anesde
The Netherlands has this taxation. And I think DW and me have saved enough to grow old.
Food expenses are not super frugal, I think normal, focused on healthy eating, prepared from scratch.
My housing- (cash bought) costs (in two countries) are inclusive of re-taxes, maintenance(most DIY), insurance and utility costs, which I keep low.

Yes, I can move my main Domicile to Austria, which has no wealth tax.
But I have promised myself never to change country or home because of tax-reasons. I have seen countrymen who moved for tax reasons to Belgium or Curacao, where they seem unhappy and come to Holland as much as possible within the legal time allowed.

There are much more important reasons such as: feeling at ease, easy transport by bicycle, "Nature" within reach, my hobbies on/in (frozen)water (rowing, sailing, boating, swimming and cross country skiing) to choose the places to live.

George the original one
Posts: 4841
Joined: Wed Jul 28, 2010 3:28 am
Location: Wettest corner of Orygun

Re: What's your top 3 budget expenses?

Post by George the original one » Thu Jul 11, 2019 9:57 am

food
entertainment
insurance

House is owned, occupied by spouse & myself, and we're retired.

Gilberto de Piento
Posts: 1331
Joined: Tue Nov 12, 2013 10:23 pm

Re: What's your top 3 budget expenses?

Post by Gilberto de Piento » Thu Jul 11, 2019 10:00 am

It's tough to compare expenses by category across posters not only because living situation varies but also because the categories vary. For example, I count my water, gas and electric bills in one category because that's what Mint does, whereas others may keep these separate.

Over the last 12 months:
1. Mortgage: 38% (Death Lock! :lol:)
2. Groceries: (not including alcohol): 12%
3. Taxes: 10% (this only includes property taxes and times when I have had to pay extra due to earnings where taxes weren't taken out)
4. Home Improvement: 6% (hoping this goes away soon)
5. Doctor: 5% (hoping this goes away soon too)
6. Bills & Utilities: 4% (water, gas, electric)
7. Auto Insurance: 3%

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