Quote:
Originally Posted by mitchmiller9
It's that time of year to look back to see how much you spent for the year. Were you frugal?
My 2020 spending: $13,625.00 (yes, it's cheap to live in Las Vegas, NV)
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Ha, depends how you live, but it sure beats California or Oregon. I also live in Las Vegas Metro, but in Henderson. I have no clue what I spent last year, but it was $77,000 on my primary credit card so I think at least $130,000 or so. A large amount was home improvement projects that’ll continue into this year. I do like the overall low cost of living here though, the solar keeps our electric bill tiny, property taxes are low, even the garbage and reclining is cheap. I used to pay $50/month for a garbage bin 1/4 the size of what I have now paying $48 per quarter! It’s amazing how much cheaper a lot of stuff is here.
Bottom line for me is just that I ended the year richer than I started it. My annual expenses are a work in progress. Expecting 2019 through 2021 is about $300,000 in home improvement projects, now 2/3 done, then pay off the mortgage that’s about 1/4 of the home value, and I should be looking at more like $50,000/year expense on $500,000+ year income. Even if there are vacations in the future and I spent $65,000/year, I should be between saving 80-90% of my income and that’s not including the fact my investments should appreciate by the same amount as income roughly anyway, so that could be as low as spending 5% of my total increase in net worth per year. The spending itself may not be frugal to some, but spending compared to saving should be to all.
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