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The dollar amount would means nothing as my income, compared to most "less fortunate" is substantial. So a better gauge for those in my situation would be that I spent only about 35% of my take home earnings for me compared to a normal 80% during 2020. I will still end up spending the bulk amount with charity donations the biggest portion.
Travel was cut in half.
Vegas (shows, events and gambling) was non existent.
Cloths shopping cut in half.
Social events, puff...
Eating out down to a minimum.
Food budget up a tick.
Gourmet shopping (chocolate, spirts, decadence treats) up a bit more.
Charity Donations, through he roof.
Spent a lot more on groceries in 2020, but less on most everything else. Was able to pay off credit card debt and personal loan and build up my savings on my mediocre salary.
$16,701.40 for a single guy excluding taxes, charitable giving, and health/vision/dental insurance premiums and deductibles. Higher than usual, but I bought new furniture when I moved and also started dating a new girlfriend
I have no idea what I spent in 2020. Unless I'm forgetting something big, I'd say less than 20K easy.
My expenses are low -- just by default of my lifestyle at this moment.
No car payment, paid off house, low utilities (3,600). Low property taxes (1,500). Short commute so a tank of gas last me almost a month. Insurances (homeowners, car, umbrella) 3,200. That's not everything, of course.
Gifts and food are my biggest discretionary expenses.
I buy what I want, and still have what I consider is enough to put aside for retirement.
I don't seek out sales, or buy many things used.
And I still consider myself to be frugal.
so spending for 2020 was about 41% more than spending for 2019.
however, i did several large ticket home improvement things in 2020 (the largest being installation of a pool). if i remove that stuff, id be a slight increase on the year. which is somewhat surprising.
We spent just over 215k on 350k in income (married, dual earner and no children)including all taxes for the year. Per the link Mizzou we are 550% but I think it’s got a bit of flaw in using a metro area and clearly as income levels go up so do taxes. My overall taxes for 2020 would be almost 2x the standard of living floor. I’m not complaining about the taxes and am fine paying them but just for perspective
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