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YTD spending update. Wow!

August 19th, 2020 at 06:07 pm

I was going to wait until the end of the month to look at this but I happened to check today. We're almost 2/3 of the way through 2020. It's remarkable how much of an impact COVID has had on our spending.

In 2019, our average monthly spending came to $6,657 or $79,884 for the entire year.

So far in 2020, our average monthly spending is only about $5,190. Extrapolated out for 12 months that will be just $62,280, almost $18,000 less than last year.

I haven't sat down and really dug into the numbers but just on the surface, the biggest chunk of the savings has got to be from the lack of travel. Number two would be the lack of dining out.

We have started dining out again since NJ opened for outdoor dining at the end of June but we're still doing way less than previously. It's been too darn hot to eat out most of the time. As the weather starts to get a little more moderate, we'll probably go out more so our spending will pick up a bit, but we'll still be way off last year's numbers. And travel isn't resuming anytime soon, certainly not in 2020.

I know the sharp drop is temporary but it's still nice to have that extra cash to stuff into savings.

Posted in Travel, Spending | 5 Comments »

5 Responses to “YTD spending update. Wow!”

  1. Petunia 100 Says:
    August 19th, 2020 at 10:11 pm 1597875067
    1597875067

    Does last year's total include mortgage payments? Either way, that is a big reduction.

  2. disneysteve Says:
    August 19th, 2020 at 10:46 pm 1597877207
    1597877207

    No, that doesn't include the mortgage. I adjusted for that.

  3. terri77 Says:
    August 19th, 2020 at 10:50 pm 1597877420
    1597877420

    I have earned more while spending less. I hope to keep this up until I can finish paying off my debt.

  4. disneysteve Says:
    August 19th, 2020 at 10:54 pm 1597877693
    1597877693

    "I have earned more while spending less." That's an even better situation. My income has been stable. Actually, it's probably been slightly lower because I would normally pick up an extra shift or two each month and the opportunity to do that hasn't been there for a few months since our volumes were down and they weren't letting any of the per diems work so that they could give the PT and FT folks their hours.

  5. crazyliblady Says:
    August 20th, 2020 at 01:29 pm 1597930199
    1597930199

    That's awesome. I have also noticed a decrease in overall spending. My income is stable. The only extra I earn is wish surveys.

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