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Old 09-27-2005, 01:54 PM   #1
snvin
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Default Trying to figure out how messed up my finances are, compared to OTs

OK... So that nobody has to reveal any specifics regarding what you make / what you spend, etc., let me phrase it like this:

What percentage of your monthly income is accounted for (i.e.) tied up by bills and/or consistent expenseses (mortgage, car*, insurance, credit cards, cell phone, gas*, etc.)

*In regard to car/gas, don't count project cars, or gas used for autoX, etc., as that constitutes leisure time, IMHO.

I'm gonna have to go out on a limb here and say 75-80%
Pretty bad, right?
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Old 09-27-2005, 01:56 PM   #2
WagonMonster
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I take home about $3400/month

My expenses are around $1400/month

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Old 09-27-2005, 01:57 PM   #3
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% of gross or net?
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Old 09-27-2005, 01:57 PM   #4
Janq
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We've been through this already a few times.

* true cost of home ownership/monthly budget advice.
http://forums.nasioc.com/forums/showthread.php?t=523202

* How much are you worth?
http://forums.nasioc.com/forums/showthread.php?t=616853

There was another toward specific budget areas but I don't feel like spending the time to locate it.

- Janq

Last edited by Janq; 09-27-2005 at 02:06 PM.
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Old 09-27-2005, 01:57 PM   #5
snvin
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Quote:
Originally Posted by dcmomentum
% of gross or net?
Net.
(Sorry.)
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Old 09-27-2005, 01:59 PM   #6
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I'm at about 35% of my net income used for rent, car payment, auto insurance, jetski insurance, credit cards, cell phone, gas, etc.
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Old 09-27-2005, 01:59 PM   #7
fireball_jones
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As long as it isn't over 100% you're probably doing better than most people.
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Old 09-27-2005, 02:03 PM   #8
ErikAnderson
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everything i make i spend. but then again it goes toward my debt or getting ahead of my debt. I am currently 4 months ahead on my house, have no credit card debt, and am putting down larger than normal payments on my wrx.

only "fun" money after bills goes to brat parts, my brat needs a new motor.
So no, i dont have a "savings" account, but what i do have is the ability to live for many months on almost zero cash aside from food, and i do just fine eating bulk foods oatmeal and rice when i need to.

This has not always been the case and i have plenty of cool toys and hobbies sitting around my house, i just guess that my most recent hobby is seeing how cheaply i can live in a month.

Good thing is that my GF lives with me, so we have money to do a few little things now and then.
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Old 09-27-2005, 02:03 PM   #9
beethoven
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I think our non-discretionary spending is about 70% of net. That includes things like gas, groceries, toilet paper, etc.
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Old 09-27-2005, 02:14 PM   #10
Sperm
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I'd say probably 60% of my income goes towards bills. Credit card mistakes in my earlier years are biting me in the ass now. That 60% SHOULD be 100% if I could do it. But ya' gotta live a little bit, right?
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Old 09-27-2005, 02:16 PM   #11
Full_Clip
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In the red, parents bail Full_Clip out several thousand each year.

chris619
dr_wheel


Full_Clip needs to eat.
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Old 09-27-2005, 02:27 PM   #12
tbert
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400%



Damn kids.

-
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Old 09-27-2005, 02:27 PM   #13
Slvrblt
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I don't want to think about it right now...

give me a few months, then I'll give you an answer

speed safely

Brian
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Old 09-27-2005, 04:48 PM   #14
NVAKeith
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~82% for mortgage, wrx, utilities, insurance. Much tighter than I am comfortable with. The remaining 18% goes to home improvements. Doesn't include the wife's income or bills. She buys the groceries and pays her student loans. Next year both our cars will be paid off and things will loosen up quite a bit.
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Old 09-27-2005, 05:05 PM   #15
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err, my overestimate was that I was using about 80% on everything, house, car, bills, taxes, insurances, savings, 401ks, etc. The 20% left was play money.
Not much, but if I rent the other room it will become 40% play money
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Old 09-27-2005, 05:07 PM   #16
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Monthly income?
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Old 09-27-2005, 05:27 PM   #17
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I have 47.9% of my monthly net income tied up in pretty much fixed expenses.
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Old 09-27-2005, 05:30 PM   #18
Nawambo
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75 to 80% is pretty high my friend. You may need to figure out your budget better.

Good luck.

Nawambo
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Old 09-27-2005, 05:31 PM   #19
Kha0S
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Around 65%. Food is not counted in that number.
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Old 09-27-2005, 05:35 PM   #20
WRX02WRB
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im sure im in the +80% range too ... i dont wanna think about it so im not even going to try to give a exact number... too depressing
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Old 09-27-2005, 05:40 PM   #21
The Tree
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i take in 3200
I put out 1600
so about 50% of my income is spent on bills/car/rent/imnsurance
I don't have any other needs besides that, I am not in debt to CC companies or student loans so that is all I have out, and whatever tracy makes gets put in the bank and saved for a downpayment twords a new home
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Old 09-27-2005, 05:40 PM   #22
docwhorocks
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About 60%.

Though I usually spend about 90% of my take home. Most of it going twoards home improvements. So does that count as spending or investing?
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Old 09-27-2005, 05:40 PM   #23
Uncle_Git
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Under 5% at the moment

That'll change in Feb after my move to the frozen north (Portland).
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Old 09-27-2005, 05:47 PM   #24
DoinkMobb
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Quote:
Originally Posted by Kha0S
Around 65%. Food is not counted in that number.
I'm alloting $350/month for food - that's a big number to not be counted .

Take home - $3700
Expenses - $2300 (63%)
Remaining - $1400

Are you guys counting things like pet food, your wife's tampoons, any prescription meds, stuff like that? Cause I'm counting EVERYTHING. And no credit card bills and no car payments are nice.
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Old 09-27-2005, 05:49 PM   #25
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I don't think that I would be comfortable with anything over 50%. It's basically the fear or getting hurt, or losing a job, etc. I'm in a pretty stable environment, but one never knows. I like the comfort of shrugging off a layoff or other unfortunate event, and the mobillity of not having high financial burden.
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