What percentage of your disposable income do you spend on ...
About This Page: This is a discussion on What percentage of your disposable income do you spend on ... within the The Office: Budgeting and Reward Programs, part of the PassPorter Community - Boards & Forums on Walt Disney World, Disneyland, Disney Cruise Line, and General Travel; As the new year begins, I am looking over the budgets I have set for us and am wondering something:
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Rent/Utilities/Insurance: 50% - this includes rent, electric/gas, phone/internet/tv, etc. Transportation: 5% - we live in the city so we don't use the car very often. Loan Payments: 0% - we paid off our loans about a year ago - and we rent. Food: 15% - self explanatory Vacations: 10% - we have a special account dedicated to our vacations. This amount shifts every year (based on where we go). Clothes/Electronics: 5% - self explanatory. Child-Related Expenses (for DS): 5% - this includes summer camp, school trips, extracurriculars, supplies, etc. Savings: 10% - we try to save about 10% of our annual income.
Of course our numbers very from year to year - but we try to stay relatively consistent with this outline. This year we would like to get the Rent/Utilities section down somehow.
Location: Virginia - a day's drive to WDW or NYC :)
One of my goals for Jan 2013 is to find the answers to these questions. I had a budget all set up back in the day but a lot has changed since then and it really is a shame but I don't know anymore the details of where the $ goes. Embarassing.
Thanks so much, Drew!
I'll post my figures now as well, hoping to encourage others to follow my lead
Rent/Utilities/Insurance/Phone: 30% Cars: 20% (DH commutes, plus gas is crazy expensive over here ) Food: 10% (We've cut back on restaurant visits quite a bit!) Vacations: 10-15% (depending on whether or not we're traveling to the States) Our dogs: 7% (what can I say, they are our kids ) Clothes: 5% Loan payments: 2%
The rest is divided up between savings and "wants" (electronics, books, sports, movies etc.).
I figured the percentages for my monthly budget, but I think if I did the math correctly it would be about the same for yearly too.
Mortgage/Insurance/Utilities (electric, gas, cell phones, cable, internet): 30% Cars/Insurnace/Gas: 20% Food: 10% (this includes my grocery budget and any eating out we do during the month) Vacations: 5-10% (we do one major vacation every other year and smaller vacations throughout the year) Clothes/Entertainment/DD's extra activities/Pets: 8% - sometimes less depending on the month Savings: 12% (we have an automatic payment made to our savings account each week) Loans: 0% Wants (money spent on hobbies/birthday gifts/home decorating/etc...): 5-10%
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Rent/Insurance/Utilities: just under 20% (We sold our house when we moved to the other side of the state...just renting here, don't know how long we will stay...rent is more than our mortgage was!) Cars/Insurnace/Gas: 12% Food: 10% Vacations: 3-5% Clothes: 3% Debt: 12% (mostly student loans other than those we will be debt free as of next January!) Misc: 10-20%- Depends on what medical expenses pop up (both human and fur baby), or what the kids end up needing, eating out, movies etc. This also includes birthday and Christmas spending.
I honestly have no clue what percentage of our funds we spend on anything!! I just know I try to watch what I spend and we try to save as much as we can. We're able to keep food on the table, clothes on our backs, and have some fun every now and again.
Now I'm going to have to pay attention!
Thanks for asking.