Do you guys use a budget?

[Revelate]

---

@youdontkillmoney wrote:

We don't use a budget, we just have a philosophy of spending the least amount possible on expenses and saving/investing the rest. Currently our expenss take up 15 cents out of every dollar we generate in income, i.e., we are able to save/invest 85 cents out of every dollar we earn.

I track ALL expenses on a spreadhseet and watch the 15% (15/100 = 15 cents out of a dollar) to see when/if/why expenses creep up and every so often see if we can cut unneeded expenses and or lower expenses that cannot be cut.

So we do not budget such as $x for food, $y for entertainment, etc.

---

Post mortgage you may feel differently when your and your wife's combined most excellent income doesn't go as far anymore heh.

How much are you paying for rent or housing these days?

[youdontkillmoney]

---

@Revelate wrote:

---

@youdontkillmoney wrote:

We don't use a budget, we just have a philosophy of spending the least amount possible on expenses and saving/investing the rest. Currently our expenss take up 15 cents out of every dollar we generate in income, i.e., we are able to save/invest 85 cents out of every dollar we earn.

I track ALL expenses on a spreadhseet and watch the 15% (15/100 = 15 cents out of a dollar) to see when/if/why expenses creep up and every so often see if we can cut unneeded expenses and or lower expenses that cannot be cut.

So we do not budget such as $x for food, $y for entertainment, etc.

---

Post mortgage you may feel differently when your and your wife's combined most excellent income doesn't go as far anymore heh.

How much are you paying for rent or housing these days?

---

^^^^^^

I think, know you are right post mortgage.

Most of our expenses are (1) voluntarily helping pay for in-laws health insurance/giving money at 24% of $45,000 a year in total expenses or $11,000/year and (2) 35% of expenses our $16,000/year is various insurance we buy from auto, life, etc.

Post mortgage there is more insurance premiums related to home and of course the mortgage

Rght now my parents own an apt complex so we take up a spot since 1995, I didn't used to pay for rent since it was not asked/expected; for the past 5 years or so I am giving them $1,000 a month since I figure I should.