HandyGator88Student16mo
OddWarlock
Married folks, what’s your average monthly expenses?
This should include everything from home bills, entertainment, medical expenses, trips etc. When I was single (back in 2016), my expenses were around 20k per month.
Now I easily go above 1L every month (without rent, we live in our own house). My wife also works and she has her expenses too.
Not sure what’s the reason for it though. We live frugally and don’t spend lavishly (atleast I don’t think we do). I barely buy anything for myself (I use 1k earphones and buy clothes from decathalon). My wife is the same.
Is this common when you get married? That your expenses permanently increase? Or is there something I should be worried about? TIA
9mo ago
Borosil_Carrier
Stealth9mo
20 K + 20 K in 2016 -> approx 35 K + 35 K = 70 K (assuming 7% inflation over 8 years).
Extra 30 K can be attributed to your lifestyle increase, going out more often , more food ordering , better furniture, gym, medicines, insurance premiums , vehicle purchase, and maintenance if not included etc.
TommyBhai
I found myself in a similar situation. I was hardly able to figure out whats going on. So this is what I did.
-
Track all our expenses across three months. And differentiate into categories. I have like 12 categories I think.
-
Then I revisited these categories into essentials and unnecessary/wants.
-
Revisited the numbers I can spare and have to spare for each category.
-
Created a joint Account for me and my wife. Setup SI to transfer our monthly budget calculated from above.
-
All expenses will come from that.
After following this it has hardly crossed the limit and then if for some reason it crosses we are clearly aware what might have caused it. Like one time purchases like phone or some vacation. We have separate funds for these so we know that we are not crossing our budgets.
TommyBhai
Only thing that we need to be aware of is what are wants and what are needs. how much I am willing to spend on my wants and am I spending too much in the name of needs.
OddWarlock
Stealth9mo
Oh wow, this is fantastic! Curious to know your 12 categories and rough budgets for it. If you can, pls share. I’ll create my spreadsheet too then
Jakeyperalta
Swiggy9mo
Create an excel and make a habit of entering pareto expenses every month (The count would be at best 20 items).
For us
Rent- 60k
Travel- 30k (Due to a lot of weddings or travel to meet parents)
Grocery - 10k
Househelps- 10k
Weekend outings- 10k
Misc- 30k
We too barely spend on shopping but when you live in a tier 1 city 1L per month would be minimum expense per month. However your expense seems to be on the higher end given you don't pay rent.
BrisbaneBunny
Bollywood9mo
How closely do you keep track of your spends? Do you budget at the start of every month?
If you alone are spending about 1L and your wife has her expenses over an above that then I feel something's amiss. Do you spend more on experiences instead? The number looks fine if you are having kids though, or even a home loan EMI. Else this doesn't look frugal IMO.
OddWarlock
Stealth9mo
It’s hard to track it month over month. I mean I just see spends summary on cred and it’s mainly travel, Amazon home shopping or medical expenses. How do you track your spends month over month with your wife? (across CC, UPI etc)
TommyBhai
If it’s am android phone, there are bunch of apps. If it’s ios then it’s tough.
I ended up creating a shortcut for it which basically breaks it down and updates an excel.
Discover more
Curated from across
How much do you save per month?
What is the biggest expense, how much do you save and how much do you invest
Top comment
Wtf everyone here 2l+ pm 🥵🔥
Done with Tier1 cities, moving to tier 2 town with family - A rant
Been in Bangalore for 6+ years and love everything the city has given me. This city ( more like people here) taught me what software engineering and product sense is, how to entrepreneurs function, whats a 100X coder like. Made many ...
Top comment
So are you fed up with Bangalore or just the career rat race? Both are different. Also, costs can be low in...
Married men, how much do you spend v/s your spouse?
It’s a question that many men want to discuss but can’t in the open. How do the costs of life split between you and your partner? If you’re both making the same money, is it 50-50? Or do you each handle certain categories of expenses wit...
Post tax 7 lac a month. Double income no kids, but not sure what do with all the money.
Me and my wife are 30 years old software engineer with no kids. Draw 7 lac a month please some yearly bonus. We invest 2 lac a month combined into equity market through mutual funds.
Expenses: 1.5 lac a month including everything, li...
Top comment
Hey - we are also similar to you. Would strongly suggest finding something you’re passionate about. For us (prim...