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What is your biggest expense?


mommyoffive

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It has been food/household expenses. The rental house (with very low rent) that I have been living in is about to be sold so housing is about to be my biggest expense.It will go up to about 1/2 of my take home pay.

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College tuition.  After that, it's probably travel expenses.  We have had children living/traveling/studying/working in other parts of the country and world for 9 years now.  Helping them get to places, bringing them home for Christmas, us visiting them, plus other misc. travel expenses (we do love to travel!), is definitely one of our bigger expenses.   After that would be medical expenses.

 

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401k is at 15% of our income and is definitely the largest single line on the budget. Before we increased the percentage, not too long ago, mortgage w/escrow was #1.

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Food is quite a bit more than our mortgage but is less than mortgage + property taxes (when figured on a monthly rate).  Since we just use our tax refund to pay for our property taxes each year, I don't really figure them into our monthly budget.

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rent.  I look weekly, but it's so high here that I know we can't reduce this cost in any way.  

 

We have 1 car.  If we could afford it, we would buy another one.  At this point we will end up waiting until this one is paid off and then buy another car.  My kids have no hope to get their license b/c it's not like they would have anything to drive ;-)

 

 Food would be second.  I'm finding that high protein has more value than fresh fruits/veggies in our teen house lol.  

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Mortgage and groceries and medical are tied.

 

I could cut much of the medical but think vision and dental and obstetric is important even if my nation doesn't seem to agree with putting money into it. Not that I'm bitter about it... Much.

 

I could, in theory only, live in a much smaller home and did for years, but socially it is not an exaggeration to say I'd be risking CPS to do so. And the added expense of not being as close to many of the things we use daily would make uo the difference in mortgage payment. Things like community colleges, the ability to shop multiple stores for best deals, work to home transportation expenses, and so forth.

 

I don't feel I can cut groceries more than I already do. I have cut back a lot, but the cost of what I get keeps rising to make up any difference in buying less. Plus some.

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