Have you stayed within your budget for 2014?

[awakenedsoul]

I just added up my expenses for November. It looks like I'm going to come in about $1,000. over budget at the end of the year. If the city reimburses me for my hospital bill, that will balance the numbers. (I filed a claim form, but it's still under review.) I try to spend $20,000. or less per year. I own my home outright.

I did well in the small categories. My utility bills are low, and I have cut down my grocery spending. I also knit from my stash all year, which was a big money saver. Going car free has made the biggest difference. I'll see more of the effects of that next year.

I had a couple of big bills for home maintenance, though. I expect that, since I live in an older (1940's) cottage. In January, I splurged on a Big Chill fridge. It had a price tag of $3,000. In November, I had to replace the water heater and upgrade the pipes to code. That cost me $1,460. I usually plan on spending $3,000. a year for home maintenance. If I had purchased a simple, inexpensive fridge, I would have stayed in budget. I do love the Big Chill, though. It's beautiful.

How about you? I still need to do some tree trimming, but I'll put that off until January.

[pinkytoe]

I look forward to spending a good portion of my winter break going over all our expenses and "tweaking" for my upcoming retirement. I am kind of scared but also excited to see the bottom line. With both of us working full time and always on the go, I haven't been able to get to that nitty-gritty analysis. Our biggie is always property tax and this year it went up an unbelievable amount. The estimate sent by the city six months ago was nowhere near the actual bill so that was a surprise expense.

[lessisbest]

I'll be maintaining our home food storage on $125/month food budget for two adults again in 2015. I have $126.36 left in the budget for this year, so I could probably reduce it to $100/month if push came to shove.... But we don't have to so I won't. I noticed the other day how little beef is being purchased these days. I budget $10/week of the food budget for meat and we'll probably be enjoying even more vegetarian meals in 2015. The garden may be a little bigger next year as well.

I have my 2015 calendar all set up and ready with information I transfer from one year to the other, as well as my accounting book I track things in, the method I've used for nearly 44-years.

Utilities: We're actually down a little from last year, but for the last six years our gas/electricity is around $2,000 (plus or minus $100) no matter what changes we make. If we reduce use it is generally offset by cost increases.

I just had the every 6-months discussion with ATT about their charges for internet service when they increased them, and when I mention a low offer from Cox Cable and how I should talk to them, they usually manage to give me a lower rate. If I had to drop something it would be cable TV, although we only have the basic package now and that's $36/month.

Our budget is actually figured on what we will be expecting to get when we are on Social Security. In the next year we should be down-sizing our home and possibly going from 2 cars to 1 for additional savings before hubby either goes to part-time or retires permanently. I'd like to drop our property tax amount by 50% by moving.

[Teacher Terry]

This year has been mega expensive:|(. 4 old dogs so lots of expensive vet bills. My teeth have taken a turn for the worse & I have had root canals, crowns, etc. We also finally did our mud backyard & that cost $15,000 but with astro-turf it will be maintenance free & water free. Good thing my hubby has been working f.t. out of town in a high paying job that will be ending in a few months. This allowed us not to take any $ out of savings. This was the most expensive year we have had in awhile. My consulting practice has also picked up.

[Gardenarian]

You guys are an inspiration to me. I have no idea how much we spent in 2014. With our imminent move to a less expensive location we will come out way, way ahead, but I am going to try and be more diligent about keeping tabs on the money in the future.

[catherine]

Still figuring it out. Will wait until the end of the year to tally up and consolidate my YNAB and Mint. I'm just happy we no longer have that awful mortgage I inherited.

[Dhiana]

This year I put our earnings on big Savings Goals vs. a keep in budget type of budget. We've met and exceeded most of those savings goals, YAY!!
Doing the budget this way has helped reduce my stress about the minutiae of staying 'on budget.'

So I feel good about how we have been able to live well on the limited amount left.

[ApatheticNoMore]

This year I put our earnings on big Savings Goals vs. a keep in budget type of budget. We've met and exceeded most of those savings goals, YAY!!
Doing the budget this way has helped reduce my stress about the minutiae of staying 'on budget.'

So I feel good about how we have been able to live well on the limited amount left.

I like it.

[Lainey]

In the last 18 months I've had two major home repair items: new roof, and gutted/remodeled original 1978 hallway bath. It was expected and planned for but I'm still glad that's behind me.
That's the last of the big home costs so 2015 will be all about stashing away more cash.

[Blackdog Lin]

I don't budget - I just try to keep the household expenditures as frugal as possible on a month-to-month basis.

But retirement financials are still going great. Every month this year the bills have been paid, the necessity shopping has gotten done (without having to worry about how much we are spending), and all the various savings accounts have been funded in full. And there's more money left than month, every month. I feel blessed.

I attribute a lot of it to everything I learned on this Simple Living site. Seriously. We have become very comfortable with frugality and a much simpler lifestyle, much of it due to y'all being here.

[awakenedsoul]

Thanks for all the replies. I'm glad to hear that everyone is doing so well. It's interesting to hear how people work with their finances. We all have different methods for staying frugal.

One thing that I've learned is that every year there are unexpected expenses. I'm sure glad I have that emergency fund!

Anyone else?

[rodeosweetheart]

I have not stayed within mine, and it has all been family--travel to kids, emergency medical bills for grandson, travel to check on ailing relatives.
Am going to have to make a large line item for family, I guess, sigh.

[dmc]

I don't really budget, but I do keep track of our spending. I'll just say that this has been an expensive year. And it's not over yet.

[Aqua Blue]

I don't do a budget per say, but I do track. At this point I am on track to be at my desired amount, but I have a Dr appointment today and who knows what that will bring....I am at the donut hole in my insurance, was hoping to not see anyone until the New Year.

[awakenedsoul]

Aqua Blue, I track, too...then I back into my yearly budget amount. If I need more, I spend more, but it helps me to weed out the wants. Hope your doctor appointment goes well today.

[lessisbest]

BUDGET: A mathematical confirmation of your suspicions. ~A.A. Latimer

[Aqua Blue]

awakensoul, it sounds like you an I are a lot alike. I live in a colder climate tho, and still have a car. Where I live it would be hard to live without one. I could tho once I get old enough to use the senior dial a ride. I too try to stay under a certain amount, but sometimes things happen and I have to go over. My Dr appointment turned out ok. She even gave me samples so no money out at the pharmacy. I can still make it under "budget".

Lessisbest, I have to remember that quote-it's a good one.

[awakenedsoul]

Aqua Blue, I like doing it that way, too. It doesn't feel as restrictive. I wouldn't enjoy simple living if I had to put things back at the grocery store to stay in budget. I can usually clean things up by reworking the next month. By taking public transportation, I've been able to free up money for vocal coaching. It's something I really enjoy, and I'm doing much better at my auditions because of it. I would actually like to have a car, but am pushing myself to see how long I can make this car free lifestyle work. It requires a lot more effort and time each day for basic errands, like grocery shopping. It takes me an hour and a quarter each way to get to the acupuncturist. But, when I had a car, I didn't feel like I could afford acupuncture. There are so many trade offs in budgeting.

lessisbest, I like that quote, too.

[Rachel]

Awakenedsoul, this is an impressively low amount of money to live on for a year! Does that $20,000 include property taxes? Even if not, you are doing great. Our numbers are much higher even though we own outright and have no pets and no cars. We live in a very expensive metro area, so that is a part of it. I track using Mint. This thread is a good reminder to me to sit down and look at the whole year. I am thankful that we were able to save and also have fun. We can do better in 2015 in some areas and have already been talking about how to do so.

[Rachel]

Sounds like some very smart tradeoffs, Awakenedsoul---putting money into your art, your voice, your health. Well worth the extra time spent on getting around via public transportation. And--remember, you can always read on the bus!

[Rachel]

Well, I am not doing as well as I would like! I spent $10,000 over my take home pay--I was able to do that because I have some income-generating resources, but my plan has always been NOT to spend that extra income but to save it. Thanks to the merciless accuracy of Mint, I can see exactly where that money has gone. $5000 I can easily cut from shopping. The other $5000 will involve some painful choices. We do not have pets, we no longer support children, we do not own a car, we rarely eat out, not even once a month. I feel somewhat exasperated.

[lessisbest]

Rachel-

Do you have a set amount for your grocery budget and allowance/spending/blow/walking-around money (whatever you call it ;). If these two numbers are not clearly defined, that's where a huge budget leak can occur. Hubby and I each get a small "allowance" (we call it walking-around money - WAM) and he uses his for hair cuts, contributions he makes occasionally at work, small purchases, and if there is any left we go out to eat occasionally. My WAM is used for non-food household items and other small purchases. The food budget ($125/month for two adults) is used for food ONLY.

I also restrict "shopping" (other than groceries) to every other month. I wasn't a big shopper to begin with, but by only shopping every other month I have put a lot fewer miles on the car, and shopping for "fun", or what is sometimes called "retail therapy", no longer exists. I use the library as a destination instead, and "shop" for free entertainment, check out some how-to books/videos to learn a new skill.

Small "leak$" in the budget can quickly add to budget disaster.

[Rachel]

Rachel-

Do you have a set amount for your grocery budget and allowance/spending/blow/walking-around money (whatever you call it ;). If these two numbers are not clearly defined, that's where a huge budget leak can occur. Hubby and I each get a small "allowance" (we call it walking-around money - WAM) and he uses his for hair cuts, contributions he makes occasionally at work, small purchases, and if there is any left we go out to eat occasionally. My WAM is used for non-food household items and other small purchases. The food budget ($125/month for two adults) is used for food ONLY.

I also restrict "shopping" (other than groceries) to every other month. I wasn't a big shopper to begin with, but by only shopping every other month I have put a lot fewer miles on the car, and shopping for "fun", or what is sometimes called "retail therapy", no longer exists. I use the library as a destination instead, and "shop" for free entertainment, check out some how-to books/videos to learn a new skill.

Small "leak$" in the budget can quickly add to budget disaster.

Good points, lessi. Our food expenditures are eye-popping. We live in a metro area where grocery store food is about double what it costs other places...add to that our preference for clean / organic ... add to that our non-existent freezer space. I need to find a blog or other resource that will help me to figure out how to cook and eat within these parameters and spend less. Any suggestions are welcome.

[lessisbest]

Good points, lessi. Our food expenditures are eye-popping. We live in a metro area where grocery store food is about double what it costs other places...add to that our preference for clean / organic ... add to that our non-existent freezer space. I need to find a blog or other resource that will help me to figure out how to cook and eat within these parameters and spend less. Any suggestions are welcome.

I've taught a lot of classes on food budgets and low-cost meal plans, but I live in the middle of nowhere farm country and you can easily grow/hunt/scavenge enough good wholesome food for free to supplement a diet to help keep costs low.

I would suggest looking at growing some of your food - even if space is limited. If you have a sunny south window you have a number of items you can grow yourself, as well as something like a WindowFarm - http://www.windowfarms.com/ or AeroGarden/s - http://www.aerogarden.com/?cid=ppc_m to grow them in. I've grown lettuce, spinach, tomatoes and a variety of herbs indoors in the winter. You may need some supplemental LED or florescent grow light/s, but they are relatively inexpensive to purchase and run.

I depend on my little "garden-in-a-jar" in the winter for fresh veggies by sprouting seeds, growing wheatgrass and juicing it, as well as growing micro-greens. The stuff you perceive as "fresh" from the store has little in common with fresh garden produce, so if you can't grow it outdoors, grow it indoors. I rarely purchase from the over-priced produce department....

I do home food storage and use a lot on freeze-dried foods because they are superior in nutrition to canned, and frozen is also a better choice than the produce section of the store. I also have limited space for freezing (the refrigerator freezer), so I do a lot of dehydrating -- including dehydrating fresh OR frozen produce when I find it at a bargain price. It does have a learning curve dealing with these foods, but it also keeps us within our food budget. I stick primarily to whole foods.

[awakenedsoul]

Rachel,

Where you live really does make a difference in your grocery bill. I am able to grow a lot of my own food. Right now I have a freezer full of persimmons, guavas in the fridge. Outside there and grapefruit, lemons, tangerines and oranges hanging on the fruit trees. The only fruits I buy this time of year are apples and bananas. I shop at Costco, and buy a lot of my food in bulk. That's really reduced my grocery bill.

This time of year I make a lot of soups, homemade bread, and salad. I grow salad greens and herbs in the garden.

[awakenedsoul]

Awakenedsoul, this is an impressively low amount of money to live on for a year! Does that $20,000 include property taxes? Even if not, you are doing great. Our numbers are much higher even though we own outright and have no pets and no cars. We live in a very expensive metro area, so that is a part of it. I track using Mint. This thread is a good reminder to me to sit down and look at the whole year. I am thankful that we were able to save and also have fun. We can do better in 2015 in some areas and have already been talking about how to do so.

Yes. My property taxes are $1,400. a year. In CA they can only go up 2% a year. It looks like with home repairs and acupuncture I will go over a bit. I'm okay with that, though. I can't put a price on the fact that I'm walking and hiking now. Last year I was limping and gimping.

It sounds like cutting your shopping bill will make a huge difference. $5,000. a year is $50,000. every ten years. For me, the cheap hobbies help, too. I love swimming and using the sauna and jacuzzi at the gym. That's only $15.00 a month, and I use it regularly. My new love interest loves hiking in the mountains. He drives us, and I bring food. It's very entertaining, and doesn't cost me anything.

When I visit my parents, my dad always reimburses me for my travel expenses. He's really generous that way. I'm able to find cheap flights on Southwest for $39.00 each way. I have enough yarn in my stash to knit through 2015. I bought it on clearance. It's really good quality, and I find free patterns on Ravelry.

[CathyA]

Food budget? What's that? That's one thing I don't skimp on........even when I should!

[lessisbest]

Food budget? What's that? That's one thing I don't skimp on........even when I should!

I don't skimp anything.... I have more than enough food in storage for a year from all the food groups and I maintain that on $125/month. I don't pay for healthy vegetables, I grow my own - both indoors and outdoors. I purchase anything we want/need as long as it is within the budget.

I spent $1,486.70 on groceries in 2014. A few days ago I had over $100 left so I added some quality meat to the freezer. I'm conscious of purchasing at the lowest possible price (what I call stock-up prices), careful not to waste food (which is the most expensive food we purchase), I cook from scratch, and we don't over-eat.

Speaking of over-eating.... On our 6-hour trip to St. Louis, on Boxing Day, we stopped to get gas and ate at Wendy's. Hubby and I split a 4-piece chicken nuggets, garden salad, small Frosty, and drank water. The man next to us had just filled his 100-oz. Guzzler with diet soda in the gas station, and ordered and ate (after checking his blood sugar and taking his insulin:
3 Chicken Sandwiches
10-piece regular nuggets
10-piece spicy nuggets
Large fries

[Rachel]

The observation that $5000=$50,000 every five years is extremely motivating. Not sure how to translate the suggestions I'm seeing here, because:

Gardening: We live in a 2-room apartment. Not a 2-bedroom apartment, a 2-room apartment, period. No courtyard, no backyard, no roof access.
Freezer: measures about the size of 2 shoeboxes.
Pantry: does not exist.
Building gardens in the windows: means we would have to get rid of either a desk or a bed. Getting rid of the desk = divorce, not kidding!

I do appreciate the suggestions and I like these glimpses into other lives. I am truly in awe of your resourcefulness, Lessi and Awakened--and so many other posters who post in these Forums. I'm thinking I might need to keep a food purchasing/cooking diary to see where there might be waste or poor planning. And I'll look into freeze-drying...maybe that could work once I learn more about it.

[awakenedsoul]

Rachel,
I didn't really mean what I wrote as suggestions, just as explanations of how I am able to live inexpensively. I just do it day by day...

[Rachel]

Reading about how other folks do this stuff day by day is really helpful -- even if what works for other people isn't directly applicable, it still gets those thoughts cranking. This thread motivated me to clean out my freezer and cupboard--I learned a lot from doing that. I appreciate this forum so much.

[Rachel]

PS: I'm sorry if I sounded too negative in my other post! I have a feeling I am wasting both food and money and that exasperates me...with myself! Thank you to everyone who commented in all the different aspects of this thread.

[Float On]

It was an interesting and expensive year for us.
It was our first year without any self-employment income. We had to learn to live on regular paychecks and everything was budgeted for that and then we had some big expenses and those were not planned for. Sadly I went through savings and added debt. :(
2015 will be about paying off the debt and me moving from part-time to full-time employment.

[awakenedsoul]

Sorry to hear that last year was difficult for you, Float On. It's good that you are making adjustments.

I totalled up what I spent. I was $300. over budget. Then I realized that I forgot about the fancy fridge that I paid for on line. That was another 3 grand, plus shipping. So, I spent over $23,000. Still not bad for LA, though. I may up my budget to $22,000. next year, to adjust for inflation. I think if I stay car free I'll be okay. It all depends on how much my insurance covers for my bike accident. I had to pay $1,000. to the hospital this year. We'll see...

Rachel,
You didn't sound negative to me. I lived in NY, and I know certain places are more expensive. You can't garden in the city.

I've got to do a lot of clearing in my home, too. I've got a mess in my closet, and a mess in my shed. Bit by bit...

[Teacher Terry]

rachel- 2 rooms is really small & I didn't think you sounded negative either. Good luck on adjusting your budget.

[Packratona!]

Just finished our first half of the year both being retired for the first time. So far our budget has worked out well, we have budgeted to live just under the taxable level; About $20,000 for 2 people (paid off house and no debts of any kind). We could go lower than that if we had to, however that would be more uncomfortable though not undoable. To do that, we would have to go without the car, give up coffee and occasional wine purchases, and stop buying little occasional things we want but don't need. And right now there is no necessity to do that. I am just very happy that we have been able to make it work at the level we are at, and don't feel deprived. We have time to devote to our hobbies, family and friends. However, we are considering moving to a lower cost area. We currently live in a large metro area. Moving would be costly, however our final destination would enable us to live a rural lifestyle and have a garden.