Spending

Every year I total up all the stuff we’ve spent. This is useful for getting at least to Tier 2 and thereby being at least kind of able to think smartly about money.

I just saw Jeff Kaufman’s spending update and this makes me want to make a public post of my own. Mostly as a public service: it’s so helpful for me to read the results of someone who I feel at least kinda similar to.

so what do we spend money on

thingapprox cost in $1000s
nanny63
mental and physical health20
groceries15
restaurants9
helping out friends9
kid supplies, babysitters, activities8
house (paid off)8
hobbies7
wills/trusts5
coworking space4
home decorations/furniture4
family travel3
vacation3
car (paid off)3
new bike3
new fence3
coffee shops3
life insurance2
pharmacy2
gym1
total196

(I know that doesn’t add up; I forgot a lot of “little things” here I’m sure. Don’t count this as a total pie chart, but as some anecdotes of “how much stuff costs for us.")

can I feel less bad

This also always makes me feel bad. I always think “I should be spending less” - either because I should be saving for the future, or I should just be less destructive to the earth or something.

This year I did an exercise: “what’s different from 2010 Dan?” 2010 Dan lived alone in an apartment in Seattle and spent $30k/year. That didn’t seem wasteful. Why am I not like that now? Have I lifestyle-inflated that much?

But, ok:

Conclusion: we have lifestyle-inflated (all our groceries, coffee, travel, etc) about 11% since 2010. But mostly just, kids and other side effects of aging cost a lot of money!

This is reassuring. It’s still a ton of outgoing cash but I’m not worried that we’re leaking huge amounts in every area of our lives.


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