exposing my early retirement budget in 2024 (only $2,300/mo)

[@OnCashFlow]

I can't believe just a few years ago my budget was only $24k per year!? kzbin.info/www/bejne/hmaklWivaK58jKc

[@gdelacruzjr]

Thanks for sharing.. after we pay off the house this year I'm projecting a budget of $40k a year for a family of 4

[@OnCashFlow]

That's great! I bet it's going to feel awesome not having that budget item anymore!

[@alisontargosky3212]

Really enjoying your content! Do you have a health insurance plan or just pay for medical expenses out of pocket?

[@OnCashFlow]

Thank you! We have a plan through the marketplace right now. HDHP and HSA!

[@TheahLil]

I feel like I'm often asking you this, haha, but can you please clarify, that budget is for you AND your wife? And yeah, its interesting your budget has gone up that much. Do you think its all inflation, or perhaps things like realizing you need to spend on additional things like medical? I do think it makes sense you have your budget for what you want AND one for if it times were tough. "four walls" type budget.

[@OnCashFlow]

Yes, this is for me and my wife! I should clarify it myself, but I guess that I assume all married couples have joint finance, even though that's not true. I think it's a combination of both. I have added some additional spending for more fun and things have gone up a lot in price.

[@TheahLil]

yeah, "houshold" is kind of funny in all this. Because I too am a household but I'm a houshold of 1. You probably shouldn't HAVE to say its for you and your wife but maybe you could say "our groceries/groceries for 2" or something, because for sure I think your numbers are so low it could easily just be for one person and still people would think its low!! @@OnCashFlow

[@dforrest4503]

My property taxes and homeowners insurance alone are about $5k per year, so there’s no way I could go that low on a home budget. And it’s certainly not a fancy home or a high cost area.

[@OnCashFlow]

That seems high to me then! Even the more expensive houses here in East TN (Above median price) have property taxes

[@southduck]

​@OnCashFlow my insurance on a 230k house is 3,500 a year in kansas. Kansas has one of the highest insurance rates. Hail and tornadoes

[@OnCashFlow]

Oh yeah that makes sense. About 3x my insurance!@@southduck

[@kristianhylkesterdal7301]

What about budgetting for the money you Are going to use when you need to by a replacement for your car? Then i think you Are get ting a more full picture.

[@OnCashFlow]

That is a good point. My withdrawal rate is low enough to where I think it will be okay when the time comes. It is also unpredictable when I will need to replace the car. It won't be too much of an expense I think, but I can see why some people would budget for it. It's similar for CAPEX on a home.

[@autobotdiva9268]

does your wife have a separate budget in F.I.?

[@OnCashFlow]

$2,300/mo is for both of us. We have combined finances. We have seperate entertainment funds and share everything else.

[@LuisCP85]

Is this the full household or only yourselves, $350 on groceries for 2 person is crazy! :)

[@OnCashFlow]

Yes, for two of us. I think the $350 is pretty generous, and we eat a lot of meat, vegetables, and fruit (not organic). Save on meat by buying at Sam's Club/Costco. Eat in season. Shop at Aldi/Walmart mostly. Pretty basic stuff, but I don't feel like this budget item is constrained at all.

[@LuisCP85]

@@OnCashFlow wow we do the same but we are at 3 times your budget in TN as well doing costco, Walmart and Kroger. We are definitely missing something. It's mainly veggies, white meat, fruit, and some soda and protein supplements

[@OnCashFlow]

Hmm...Family of two? My $350 also includes whey protein, but not soda very often at all.@@LuisCP85

[@LuisCP85]

@@OnCashFlow you guys are really deal hunters! Love it.

[@nikiclaypool8800]

I agree that you are killing it with groceries. I can't get my budget for groceries and household items under 1000 a month. Maybe 2 teenage sons are dragging me down? I will say that they are picky and won't eat casseroles or noodly based things