Spending Update 2020

post by jefftk (jkaufman) · 2020-08-18T01:40:05.390Z · score: 12 (3 votes) · LW · GW · 2 comments

It's been a bit over two years since our last spending update ( 2018, 2016, 2014). We're no longer tracking our expenses to the dollar in most cases, except where that's required for taxes, but since we rent out part of our house it turns out that this covers all the big categories.

For past updates I've generally presented averages over a time period, but instead here I want to try more of a snapshot approach. This is my best estimate of what we're spending now, informed by our recent spending. As housing continues to be a complicated topic, I've used the same amortized approach as last time (see footnote 1 there).

Another difference from last time is that this time I'm thinking more about how there are kind of two different total incomes that makes sense to consider:

In the past I haven't thought clearly about this, but this time I'm going to try to run the numbers both ways. Below when I describe an amount as "pre-AGI", I mean that it's from one of these paycheck deductions. I'm not including amounts my employer pays, though there's a sense in which this is arbitrary. If the total cost of our family's healthcare is $30k, and my employer switches from covering 100% to covering 50% and rases compensation by $15k to match, should this be showing up in my numbers here? Accounting is tricky.

Anyway, here are the monthly numbers:

In table form:

Category pre-AGI post-AGI total
Donations $0 $19,600 $19,600
Retirement $1,600 $2,900 $4,500
Taxes $0 $4,400 $4,400
Housing $0 $3,230 $3,230
Savings $0 $3,200 $3,200
Childcare $415 $2,335 $2,750
Medical $1,280 0 $1,280
Food $0 $750 $750
Other $0 $500 $750

Comparing to previous years:

2020 2018 2016
Donations $19,600 $11,800 $12,200
Savings $7,700 $1,500 $1,500
Taxes $4,400 $4,150 $4,140
Housing $3,230 $2,750 $1,870
Childcare $2,750 $1,700 $3,470
Medical $1,280 $950 $370
Food $750 $750 $230
Other $500 $1,120 $295

Changes:

2 comments

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comment by remizidae · 2020-08-18T02:20:47.438Z · score: 1 (1 votes) · LW(p) · GW(p)

How many earners are we talking about here?

Also, is there anything you’d like to spend more or less on?

comment by jefftk (jkaufman) · 2020-08-18T12:22:08.692Z · score: 2 (1 votes) · LW(p) · GW(p)

Two: about 1/5 partner, 4/5 me.

I'm reasonably happy with how we're spending our money, though probably my biggest goal is to allocate our donations better.