Being frugal is a trait many of us share on this site. Most of us started out with some type of personal finance or investment book that preached being frugal and spending your money on solid investments instead is the way to build wealth.
I have always had this mindset but after reviewing my current budget I realized I have slowly added many unnecessary "luxury" expenses to my monthly routine.
Money has been good to me the last few years and I remember telling myself at some point that I deserved all these things. But I still think it is important to stay frugal to reach my goals quicker. I want to ask everyone on this site a simple question.
HOW MUCH MONEY DOES YOUR HOUSEHOLD SPEND A MONTH?
The average person spends more than they make, but I'm not comparing myself to average and neither should anyone else on bigger pockets. I want to know what the investors are spending on themselves every month.
Goal of this post is to get a dollar amount on being frugal. Obviously it matters how big your household is, so if you have kids maybe post your expenses before kids and after kids if you can remember.
My wife and I spend just under $3000/month total. This includes our primary home mortgage, food, gas, car expense, home bills, cell phones, restaurant budget, entertainment.... Everything we need to survive month to month.
THIS DOES NOT INCLUDE EXPENSES FOR INVESTMENTS (Such as yard work for rentals).
Thanks in advance to everyone that contributes. It would be nice to have an idea what everyone considers frugal while I re do my budget for next year. Your income and net worth are not important for this post, I just want to see how frugal investors are regardless of where you are in your financial journey.
I would recommend researching this question at www.mrmoneymustache.com
They have an extremely active forum of thousands of people who are focused on living below their means and saving for early retirement. I'd bet their are numerous topics that answer this question already or you'd get an almost immediate response if you post there.
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