Military Significant Others and Spouse Support - MilitarySOS.com
Page 1 of 3 123 LastLast
Results 1 to 10 of 27

Thread: What do you spend on what?

  1. Regular Member
    USAA_JJ's Avatar
    USAA_JJ is offline
    Regular Member
    Join Date
    Jul 2010
    Posts
    211
    #1

    What do you spend on what?

    Advertisements
    I wrote this article last month--basically, my thoughts on how you SHOULD spend.

    You can read the whole article , but here are some of the highlights--percentages are of gross monthly income (before deductions):

    20% housing/rent
    10% transportation
    12% food
    10% retirement savings
    7% insurance
    6% utilities

    So, my question is how does your real life match up with my "budget pie?"
    J.J. Montanaro is a CERTIFIED FINANCIAL PLANNER practicioner with USAA Financial Planning Services one of the USAA family of companies.
  2. In vino veritas
    Dr.VinoVet's Avatar
    Dr.VinoVet is offline
    In vino veritas
    Join Date
    Nov 2010
    Posts
    14,852
    #2
    Poorly. Welcome to living off student loans

    But manfriend right now does pretty well. He actually puts 12% into retirement and 5% into savings. I dont know about the rest of the breakdown, but I will deffo show him this when he gets back from training!

  3. Account Closed
    His*PITA*'s Avatar
    His*PITA* is offline
    Account Closed
    Join Date
    Aug 2008
    Location
    Somewhere over a rainbow
    Posts
    69,415
    #3
    Quote Originally Posted by USAA_JJ View Post
    I wrote this article last month--basically, my thoughts on how you SHOULD spend.

    You can read the whole article , but here are some of the highlights--percentages are of gross monthly income (before deductions):

    20% housing/rent
    10% transportation
    12% food
    10% retirement savings
    7% insurance
    6% utilities

    So, my question is how does your real life match up with my "budget pie?"
    Inserting to me that your housing is only 20%... rule of thumb I have always heard is much closer to 30%-33% for housing.

    The rest is pretty on par with us except for retirement & savings, we put more then that in for now while we can afford it.
  4. Senior Member
    Pixiedust's Avatar
    Pixiedust is offline
    Senior Member
    Join Date
    Jul 2011
    Location
    Me: Germany - Him: other side of the world
    Posts
    925

    #4
    I spend about 50% on rent cause single apartments in this area are crazy expensive...
    About 6% on transportation (can use the train for free cause I'm a student plus try to walk a lot even if it takes me 20 mins to get to work )
    Around 10% on food.
    PCS time is getting closer. Let our Europe adventures begin!
  5. MilitarySOS Jewel
    HisCrazyGirl's Avatar
    HisCrazyGirl is offline
    MilitarySOS Jewel
    Join Date
    Nov 2010
    Posts
    6,641

    #5
    We spend around 23% on rent, 8-10% on food, 8 % on gas, 12 % on loans (only 3 more months of that ), 10% goes into a savings account. Utilities vary but probably around 5 or 6 %. DH used to spend 5% or so between dip and alcohol but he quit both of those so again.
  6. Senior Member
    armywifey2007's Avatar
    armywifey2007 is offline
    Senior Member
    Join Date
    Mar 2012
    Posts
    422
    #6
    Ours are
    22% housing/rent
    20% transportation
    6% food
    10% retirement savings
    3% insurance
    5% utilities

    We like cars.
  7. Moderator
    TheSisterWife's Avatar
    TheSisterWife is offline
    Moderator
    Join Date
    Jan 2010
    Posts
    20,566

    #7
    20% to housing would be awesome. Someday.
  8. Senior Member
    glg_girl's Avatar
    glg_girl is offline
    Senior Member
    Join Date
    Oct 2009
    Location
    PA
    Posts
    930
    #8
    Looking at my super fancy monthly budget spreadsheet , we spend 22.45% a month on rent, 18% on transportation (that's high, we had the 60,000 tune up this month that ran $300+) 12% on food (including eating out) 13% into savings (retirement and just regular long-term) and 2.5% on utilites. Insurance is calculated as part of rent and transportation, so that percentage is a small part of all the others.

    I have heard rent should be 25% typically to ensure that a financial hardship won't set you back too far.

    ETA: health insurance isn't really a factor for us right now. It comes out of my paycheck, so ALL our budgeting above is based off of our net take home pay. So pre tax retirement, healthcare, etc aren't really a concern when we do our budget.
  9. Regular Member
    USAA_JJ's Avatar
    USAA_JJ is offline
    Regular Member
    Join Date
    Jul 2010
    Posts
    211
    #9
    Quote Originally Posted by His♥PITA View Post
    Inserting to me that your housing is only 20%... rule of thumb I have always heard is much closer to 30%-33% for housing.

    The rest is pretty on par with us except for retirement & savings, we put more then that in for now while we can afford it.

    You can typically get a loan for closer to 30%...but in my mind if you spend frugally with the big stuff you'll be a lot better off!
    J.J. Montanaro is a CERTIFIED FINANCIAL PLANNER practicioner with USAA Financial Planning Services one of the USAA family of companies.
  10. MilitarySOS Jewel
    Procella's Avatar
    Procella is offline
    MilitarySOS Jewel
    Join Date
    Apr 2010
    Posts
    6,983
    #10
    Our is:
    27% Rent
    11% Transport
    13% Food
    7% Retirement
    6% Insurance
    7% Utilities

    To be honest I am not sure how we could drop anything. We have one of the cheapest decent apartments in town and that's $792. We've been looking at moving and other (not scary) 1 bedrooms are $1,100 starting. I hate Georgia.
Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •