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Old 01-15-2016, 06:31 PM
 
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We have a max budget per year.it doesn't mean we spend it but we could.

We don't track where it goes ,all we need to know is it was spent. It does not matter to us on what
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Old 01-15-2016, 07:19 PM
 
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We live well under our means, only spend about 80% of our after-tax income. If we had to cut out something, the only fat is travel. It's by far our largest annual expenditure. Not sure it'd save us that much though since we'd still have to eat and drive even if we stayed home.
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Old 01-15-2016, 08:44 PM
 
Location: Los Angeles area
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Quote:
Originally Posted by Escort Rider View Post
I don't have a budget, nor have I ever had one. I have always just spent less than I took in, which came naturally to me and still does. However, I know there is some "fat" now, especially since I retired. If push came to shove, I could save money by:

1. Eating out less often (even though I do not presently eat at fancy restaurants).
2. Giving up my excellent seats at the Los Angeles Opera and the Los Angeles Master Chorale.
3. Scaling back or eliminating charitable giving.
4. Stop all traveling. (Not that I travel all that much. Last trip was five months ago).
Quote:
Originally Posted by AlaskaErik View Post
Same here. We never had a budget and just spent less than we took in. If we had to, we could get rid of one house and two vehicles, as well as cable on the remaining house and a few other things.
Quote:
Originally Posted by jrkliny View Post
I have always absolutely detested the idea of a budget determining how much and on what I can spend my money. Even in the days of barely getting by, I had no budget. I rarely pay any attention to how much I spend in any one month period. I review a few times a year. If expenses are getting too high over a several month period, then it would be time to think about cutting back and postponing future expenses. A general idea of what fits within our income is all that is needed. Some people like to count every penny they spend. I would rather make a major cutback or get a part time job rather than deal with that.
Well, that makes three of us who fly more or less by the seat of our pants (and successfully). I thought I was the only one not to have a budget.

Upon further thought I failed to think of the biggest way I could save money if I had to, which is to sell my town house in the Los Angeles area, move to the boonies, and by a smaller place for almost nothing.
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Old 01-15-2016, 08:46 PM
 
Location: Florida
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Is there fat in cans of Alpo?
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Old 01-15-2016, 08:49 PM
 
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Interesting question. Made me actually think about it.

We aren't retired yet, but getting closer. We don't budget either and both of us are still working. Having said that, our total expenses only equal about 12 percent of our income per month.

So I guess that means we have 88 percent "fat"...but I don't count saving 50-60 percent of our income as "fat".
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Old 01-15-2016, 09:50 PM
JRR
 
Location: Middle Tennessee
3,680 posts, read 2,228,572 times
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Quote:
Originally Posted by Escort Rider View Post
Well, that makes three of us who fly more or less by the seat of our pants (and successfully). I thought I was the only one not to have a budget.

Upon further thought I failed to think of the biggest way I could save money if I had to, which is to sell my town house in the Los Angeles area, move to the boonies, and by a smaller place for almost nothing.
You can add us to that list; we don't live with a budget. No kids, so we figure we are going to enjoy the rest of our lives without the concern of leaving anything to anyone. Not that we are wild with our money, but if we want to see Spamalot at the Orlando Shakespeare Theater or spend money on some other fun thing, we are going to do it in a heartbeat without feeling bad about it.

On the other hand, I caught a bit of new car fever last month. Thought about trading in one of our vehicles, a 2010 Mazda 6 for a new SUV. So we sat down and talked it over. Mazda has 45k miles on it, runs fine and we like how it drives. Decided to just get a new set of tires and keep on driving it. So instead of taking on a car payment or paying out thousands of dollars, just spent $600 and we are good to go.

We just kind of make it up as we go along.

We are planning on moving to Tennessee later this year and building a new house. But if we had to, we could just hunker down here in Orlando and probably cut our spending by 25%.
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Old 01-15-2016, 09:58 PM
 
Location: The Berk in Denver, CO USA
14,046 posts, read 20,368,649 times
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Default Yup

Quote:
Originally Posted by engineman View Post
Is there fat in cans of Alpo?
Crude Protein (Min) 9.0%, Crude Fat (Min) 5.0%, Crude Fiber (Max) 1.5%, Moisture (Max) 78.0%
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Old 01-15-2016, 10:09 PM
 
Location: SoCal
13,252 posts, read 6,345,210 times
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The term budget means different things to different people. It doesn't mean you have to live under the budget. For me, it means the cash inflow subtracts the expense as recorded from the bank statement. Money I've mentally earmark for spending every year.
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Old 01-16-2016, 12:10 AM
 
10,818 posts, read 8,069,111 times
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Quote:
Originally Posted by MG120 View Post
We aren't retired yet, but getting closer. We don't budget either and both of us are still working. Having said that, our total expenses only equal about 12 percent of our income per month.

So I guess that means we have 88 percent "fat"...but I don't count saving 50-60 percent of our income as "fat".
You're in the same place we were before we retired.
The whole idea of fat in relation to expenditures was and is nonsensical to us. Our fat was always on the income side while we were working and it still is in retirement.
We've never budgeted in the traditional sense. DH does track our spending in retirement but it's always after the fact, not before.
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Old 01-16-2016, 03:12 AM
 
71,700 posts, read 71,801,099 times
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Quote:
Originally Posted by NewbieHere View Post
The term budget means different things to different people. It doesn't mean you have to live under the budget. For me, it means the cash inflow subtracts the expense as recorded from the bank statement. Money I've mentally earmark for spending every year.
like an income from working we fill up our cash account once a year and that is the yearly money .

it is not an actual budget but it is just the years money . we can do as we like with it .
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