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What is your biggest expense?


mommyoffive
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For us Federal + State income taxes are more than all our other living expenses(excluding charity) combined.

 

Federal taxes are about the same as State taxes, food, mortgage, and travel combined.

 

I'm fine with the taxes since I agree with Oliver Wendell Holmes that "Taxes are what we pay for civilized society."

 

So our major expenses in order:

 

Taxes

Charity

then roughly equal:

Food

Mortgage

Travel

 

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I was reading usatoday earlier and there was an article about a guy in San Fransisco whose rent was raised from $1800 a month to $8000 a month. Hopefully that makes yours sound a little more reasonable.

That's insane. You'd have to be the most hardcore San Franciso fan ever. $8,000 a month to rent?!!! That sounds just stupid to be honest unless you're so wealthy you have money to literally set fire to. You don't even get a return on investment! There is no investment.

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I would say mortgage with escrow (not just the note itself) is ours. Food is about half of that. And we don't eat cheap and we live in NJ (enough said with property taxes and cost of living!). To give you an idea our property taxes are about half our yearly food budget.  :crying:  :crying:

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That's insane. You'd have to be the most hardcore San Franciso fan ever. $8,000 a month to rent?!!! That sounds just stupid to be honest unless you're so wealthy you have money to literally set fire to. You don't even get a return on investment! There is no investment.

 

Yes I totally agree. The point of the article was the landlord had raised it a huge amount and then started eviction proceedings when he didn't pay.  Renter was suing because he says it violated rent controls.  I suspect the landlord was looking for an excuse to get rid of him and is trying to force him out.

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I was reading usatoday earlier and there was an article about a guy in San Fransisco whose rent was raised from $1800 a month to $8000 a month.  Hopefully that makes yours sound a little more reasonable.

 

Oh my word!!!!!! We are already paying a ton and are looking at a $500/month hike but that is shocking!!!

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Insurance. by far. I feel like it is $ just being thrown in a deep hole and buried. Second: taxes. Of course, if I were to add in all the sales tax, it might actually be first. I just don't notice that sales tax since it's doled out in smallish increments.

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Equal split between mortgage, food and car repayment. Power is getting up there but not that high yet. The difference is we can reduce food costs if we are desperate but the others are fixed. Car is only two more years and hopefully we won't borrow for a car again but I'm not sure if we'll ever clear the mortgage.

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