I'm a little confused by the whole thing, so I just put in a range of $100K to $200K. We're at 82% for monthly spending. Figures w/the high mortgage and daycare expenses.
ETA: When I change the range to $200K -$300K I get 58% or normal.... meh. I'm guessing people wildly underestimate their expenses - I know few people outside of these boards who keep careful track of monthly spending.
Post by imojoebunny on Oct 20, 2014 11:33:00 GMT -5
I am not sure that this is super accurate. The sample sizes are smaller than what we would get in a poll on here for our numbers (12-18 samples depending on which range I put in) and leaving out 401k and IRA contributions seems like it would make savers look less frugal than they are.
I don't fully understand the range. I just put both numbers as my current salary. We are at 59% (not great...) right now but H is starting his new job next week so we should be lower then.
ETA: I understand the range now. I expanded it to include 20k less and 20k more. We are not in 45%.
71%. Yuck. But that does include two mortgages, but I only ballparked the rental income on top of our earned income.
I didn't include our rentals because that would greatly skew the data, and is not relevant to how much we spend. It would add $60 to 70k to our annual income, but most is paid out, too. That would seriously screw up the percentage.
71%. Yuck. But that does include two mortgages, but I only ballparked the rental income on top of our earned income.
I didn't include our rentals because that would greatly skew the data, and is not relevant to how much we spend. It would add $60 to 70k to our annual income, but most is paid out, too. That would seriously screw up the percentage.
yeah, the thing is I only know my monthly spending as the number mint tells me. Which includes the rental mortgage. If I had multiple rentals it would be run more like a business and not in our general spending.
I am quietly dying that people are bummed out they are spending 70 PERCENT LESS THAN OTHER PEOPLE IN THEIR SALARY CLASS.
seriously!
Folks, Of the numbers posted, I'm the only one who is a "MM failure." 70% of ppl in my class spent less than me. Blech! You all at 20, 30%-ile are just fine.
On another note, it's really thought to "Put in a range of pre-tax income that you would like to use to compare your expenses. Don’t include your retirement saving contributions (pension, SS, 401k or IRA)!"
So, I know my pre-tax income (bc I know what I make). I also know my net income, after taxes and insurance and 401(k), etc. But pre-tax but w/out other deductions? That one requires higher math lol
Mine was 82%.....freaking daycare for 2 kids just shoots you up into the stratosphere! Hoping that number looks different 4 years from now when both are in elementary school full time.
Post by pinkdutchtulips on Oct 20, 2014 18:19:45 GMT -5
it hissed above average at me .. I'm still paying on SL and IRS debt (thx xh !!) and it's JUST my income. I'm sure if there were 2 incomes it wouldn't look as bad !
This meter really made no sense to me..What are my expenses? Averages including vacations and such or just fixed? And why would I remove my retirement contributions if we aren't supposed to be using our net income?
I save 25% of my take home and it's telling me I spend more than 70% of people in my income range? I really really doubt it.