This year was the first year I attempted to track where all our money went. I tried to track every penny, but some months were harder than others.
We had some highs and lows in our budget–saving $8,000 was a big feat for us and helped us survive as a one-income family for four months and we finally paid off my car.
This is the breakdown of where our dollar was spent this year (as of November 30):
Where did our money go?
For every $100 we spent…
$26 for Rent and Utilities
Rent, Cell phones, Internet, Netflix
$17.40 for Transportation
Car payment, Insurance, Registration, Gas, Repairs and oil changes
$13 for Food
Groceries, Dining Out, and Eric’s fast food addiction
Fun Fact: Eric spent only $300 less than our cumulative dining out total–that is A LOT of fast food!
$9.50 for Eric
School fees, Fire Academy fees, travel for job interviews
$8 for Savings
$5 for Travel
$2 for Clothes
$2 for Entertainment
$17.10 for Everything Else
Gifts, Pet costs, Fitness and Gym fees, etc.
Out of our entire budget…
42% of our budget went toward FIXED Costs
50% of our income went toward VARIABLE costs
8% of our income went toward SAVINGS
How does your budget compare?
 |
10 comments
4 pings
Skip to comment form ↓
The Happy Homeowner
December 21, 2011 at 2:15 pm (UTC -7) Link to this comment
Oooh..I love data-filled posts like this! You’ve certainly had a good year; you’re going to crush it in 2012!
Kiw girl
December 21, 2011 at 9:12 am (UTC -7) Link to this comment
Congratulations, you and Eric did really well. I know how satisfying it will be to go into 2012 without your car repayments hanging over you. Also with total commitment and full time jobs for the both of you for the whole year imagine what you can achieve next year. Merry Christmas and a happy and successful 2012.
Neo
December 20, 2011 at 4:02 pm (UTC -7) Link to this comment
Looks like the savings rate need to increase a bit. Does that include any 401k plans or pensions? Best bet is to increase that to at least 12%, 20% if you really want to break on through. I personally have a huge “everything else budget”, but I pay myself first so my savings rate is always well north of 20%.
Something to consider…
SB @ One Cent At A Time
December 20, 2011 at 12:24 pm (UTC -7) Link to this comment
Very interesting analysis. I have to do mine now. Waiting for the year to come to an end. Yodlee would do that for me (or Mint, if you use that one). $100,000 income for single earner is good but 8% saving is way too low. Do look to cut back on somethings. That ‘other’ category needs a scrutiny
justrealhappy
December 19, 2011 at 9:01 pm (UTC -7) Link to this comment
I definitely have no clue, but living with CB, I’m starting to see that we’re gonna have to be a little more careful with our money. So your will definitely be inspiration to me as I do that.
Pam at MoneyTrail
December 19, 2011 at 6:36 pm (UTC -7) Link to this comment
$8000 for Savings!! That is awesome. I love your breakdown of expenses.
Niki
December 19, 2011 at 4:22 pm (UTC -7) Link to this comment
Great breakdown! Looks like you had a pretty good year.
Teacher Girl
December 19, 2011 at 3:54 pm (UTC -7) Link to this comment
Wow! I am so impressed that you know this. I wish I did, although I can pretty well say that most of my income goes towards living as my mortgage is a huge chunk. Wish I knew where the rest of it went though.
Aloysa
December 19, 2011 at 10:02 am (UTC -7) Link to this comment
$2 for clothes! You are doing so great. Mine is probably (a rough estimate) $10. One of my NY resolutions will be less spending, less clutter, less clothes! 8% on savings is not too good but it is soo much better than nothing. Like in our case. Especially in the last four months it was pretty much 0%. Overall, I think you are on a right track.
Miss T @ Prairie EcoThrifter
December 19, 2011 at 6:05 am (UTC -7) Link to this comment
Interesting breakdown. We haven’t done a yearly review yet. We will soon though and I am really keen to see the results.
The Carnival of Financial Camaraderie #14 - My University Money
May 6, 2012 at 9:31 am (UTC -7) Link to this comment
[...] presents Where did our money go? posted at Newlyweds on a Budget, saying, One newlywed couple reviews their annual budget to answer [...]
Festival of Frugality: The New Year 2012 Edition | Funny about Money
January 3, 2012 at 4:04 am (UTC -7) Link to this comment
[...] Newlyweds on a Budget Where Did Our Money Go? One newlywed couple reviews the annual budget to answer the ubiquitous question: Where did our [...]
» The Carnival of Financial Camaraderie #14 » My University Money
January 2, 2012 at 10:29 am (UTC -7) Link to this comment
[...] presents Where did our money go? posted at Newlyweds on a Budget, saying, One newlywed couple reviews their annual budget to answer [...]
Our Year in Review | Newlyweds on a Budget
December 31, 2011 at 1:18 am (UTC -7) Link to this comment
[...] the three myths about marriage. I also outlined our goals for the upcoming year and figured out where all our money went. Eric graduated from the fire academy and started his new [...]