![]() Those bills add up to about $6,000, or about $500 per month if spread throughout the year. The summer months have none of the following annual or semi-annual bills: property tax on primary home, home insurance, or auto insurance. While I’d like to stretch that lower level of spending out over the course of the entire year to say we could live this lifestyle on less than $50,000, it would not be realistic. Looking at only the most recent three months, we spent $12,398, or $4,133 per month. 2017 Q4 & Annual PoF Portfolio, Spending Updates]. ![]() [2018 Update: Spending Reports for the calendar years 2016 & 2017 below Extrapolated to a 12-month year, we could have spending of under $60,000 for this calendar year if our expenses are held in check over the remaining four months. In fact, looking back at the last three quarters, we spend $44,387, or just under $5,000 a month. ![]() If we can maintain that level of spending over the next six months, our annual expenses will drop to $62,232. Over the last 6 months, we spent $31,116. That first quarter included a fair amount of travel, a hefty check to the orthodontist, our very last preschool payment, and one of two property tax payments on our primary home. Subtract those, and we spent well under $4,000 that month. While that last piece of information might suggest that we made changes to our lives to decrease our spending, the truth is that there were a number of “one-time” expenses that we didn’t incur in other months.įor example, our most expensive month included a hot tub purchase and Disney cruise for four. Our three most expensive months happen to be the first three months we tracked our spending. In six of the 12 months, we held spending under $4,700 and came in under $4,000 twice. Altogether, we spent an average of $6,163 per month, which adds up to $73,959. Over the last year, our monthly expenses ranged from about $3,700 to $10,500. One Year of Spending for My Family of Four Which is pretty annoying, so I’ll stop now.Īre you ready to see how much we spent over the last year? If you’re curious as to how I have such intimate knowledge of this family’s activities and finances, I’ll let you in on a secret. This family recognizes that one of their most important assets is the health of their own bodies, so there is the obligatory family gym membership, and plenty of fresh fruits, vegetables, and seafood filling up their grocery cart. This family used their cabin, a cozy lakeside condo most of the summer, and invited close friends in need of a place to stay to live in their second home throughout last fall, winter, and spring. One home is never enough when you can afford a second one. In March, the whole family took a Disney cruise to the Bahamas and spent a long weekend at Universal Studios in Orlando. There was a couples’ getaway in Puerto Rico in November, where they kayaked in the world’s brightest bioluminescent bay, hiked through the Rio Camuy caves, and took in a college basketball game. In the fall, he flew halfway across the country for a college football game, and she visited a close friend in New York. We all know that rich people love to travel, and this family is no exception. This family can afford to pay for unforeseen medical costs out of pocket, so they carry a high-deductible health plan and max out an HSA. Their younger boy underwent a surgical operation last winter, and his older brother went under the knife in the spring. Gotta have that hot tub to soothe those achy, wealthy muscles and complete the newly finished 400 square foot patio. There were home renovations in the fall that necessitated the purchase of a new hot tub. Of course, when you have millions, no year is ordinary, right? No, sir. ![]() This was no ordinary year for this multimillionaire family. Multimillionaire Family Tracks Spending for a Year: They Spent How Much?!? Using free online software by Mint, every outgoing dollar was tracked from Septemto August 31, 2016. I’ve been granted exclusive access to a detailed account of a full years’ spending by a multimillionaire family of four. Either way, be prepared for an inside look at the lifestyle of the rich and not famous. Do you know how much money you spend annually? How much would you spend if you were worth millions? Perhaps you are worth millions, and you’re just here to compare notes. ![]()
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