Today I’m going to share our 2017 final family expenses. I’m stealing this idea from the MMM blog which exposes his family expenses every year. His annual article is always one of my favourites and really shows how little a family actually needs to live. Overall we did very well in 2017 and we did have a lot of non recurring expenses which will help lower our expenses in 2018 even more.
So here it goes.
2017 Family Spending Report
|Service & Parts||$1,425|
|Bills & Utilities|
|Cell phone (1)||$195|
|Water & Sewers||$359|
|Entertainment (Sports, Hobbies, Alcohol)||$2,036|
|Fees & memberships||$470|
|Gifts & Donations||$1,327|
|Clothes – RJ & D||$352|
Expenses that are now eliminated or significantly reduced now that we are FI
|Property Tax (4)||-$3,471|
|Public transportation (7)||-$705|
|Life insurance (8)||-$436|
|Anticipated Annual Expenses||$25,699|
(1): Yes, our cell phone bill is that cheap. D and I actually just have one phone and it’s on a pay as you go plan (unlimited texting, 125 minutes calling) for $15/month.
(2): We might take more vacations now but we have recently starting travel hacking which will easily compensate for this.
(3): No more mortgage, rent or daycare!!!
(4): Property taxes at the new house are $1,400/year (You can get the same rate! You just have to get the hell out of the big cities!)
(5): In 2017 our furniture expenses were mostly related to staging our house for sale and buying new (used) appliances for the new house. We don’t anticipate spending anything on furniture other than replacing a broken appliance.
(6): RJ used the vehicle for work a lot in 2017 and D commuted with the car for part of the year. We expect gas to be at least 50% lower. $100 (2 tanks of gas) or less per month.
(7): This was entirely work related. D took public transit for part of the year.
(8): We cancelled our life insurance (check out this article if you’re wondering why).
(9): These expenses don’t include the major renovations we did at our houses last year. These were capital expenses and were reflected in the proceeds of our real estate transaction and accounted for in our net worth calculations.
(10): Overall, our utility/insurance/grocery expenses are a little inflated as we did maintain 2 households for part of 2017.
So as you can see our expenses minus the things we have now eliminated come up to $25,699. I have a feeling this number will just keep getting lower as we are constantly finding new ways to save. D is going to start on our new garden next month which will eventually start producing fresh produce and potentially lower our grocery bill. We also just signed up for an Internet plan which is almost 50% less than our current plan.