I'm listing my monthly personal expenses, living in a small, 1100 square house in Miami.
Mortgage - 1500.00
Property Taxes - 200.00
Homeowners Insurance - 400.00
Food - 800.00
Auto Payment - 360.00
Auto Insurance (2 cars) - 250.00
Electric - 300.00
Water and Sewer - 100.00
Cellphone (2) - 120.00
Pet Care - 60.00
Medicare Advantage (2) - 268.00
Internet and Cable TV - 195.00
Gas - 100.00
Prescriptions - 90.00
That's 4743.00 per month on permanent recurring expenses. It does not include entertainment (dinner and a movie, an occasional concert, scuba diving, home repair, automotive repair, clothing, shoes and a dozen other expenses that pop up at any given moment. IT DOES NOT INCLUDE ANY EXPENSES FOR CHILDREN, AS MINE ARE GROWN AND ON THEIR OWN. For those who have children living at home, add their food, school, clothing, after school activities and for working moms...child care. I'll accept your correction on the 1000.00 check. My wife and I spend 57K per year on permanent recurring expenses. Add another 8K on the items I mentioned above. Got 2 kids...add another 6K! A weeks vacation at Disney could cost up to 5K. So, roughly speaking, a family of 4 needs to TAKE HOME 71K to break even. My numbers may be off some, but Dave Ramsey ain't talking to me. His ideas and his advice are sound for people making just a bit more than most of us. Well, unless your Line Haul. Then, you may have savings, but you have no life. I'm sure I could cut back on some things, but what would I have to look forward to.