Today is a one-off post outside my regular schedule of Monday and Thursday (and the occasional Thoughts on Tuesday). Yesterday I wrote about my 2019 financial outlook. When discussing it on Reddit, people asked me to share more details on the 2019 budget.
Disclaimer: In this article I mention YNAB a few times. I am currently not affiliated with them, I don’t get any money for mentioning them. I just like their product. However if you happen to create an account with them through my link, we both get a month of free YNAB.
I have done my budget as part of my financial outlook article from yesterday. I disclosed that my budgeted spending would amount to about 1,700 euros per month or 20,400 euros per year.
In this post I will break those costs down. I will use my YNAB categories to go over the budget in detail. Below there are three paragraphs with explanations on the budget, all the way at the bottom of this post you’ll find a detailed breakdown of the budget.
I budget my fixed expenses to be approximately 1,375 per month.
The largest sub category here is living expenses, which amount to 810 euros and contain the mortgage (principal and interest), apartment fees, and some minor expenses.
Then we’ve got food/groceries at 220 per month, and there are various small sub categories like insurance, energy (electricity, water, heating), subscriptions (also including gym and sports club).
Also this category contains a sub category I use to save up for my yearly city and property taxes.
This category contains buckets (envelopes if you will) for spending that isn’t necessary, but for which I budget monthly. The expenses in this category are usually not uniform across months.
Every month I put money into buckets for clothing, eating out, vacation, gifts, and others. The balances can go up month after month until I spend money on these sub categories.
This category holds three balances for me. My emergency fund, called my “Rainy Day Fund”, and my buckets for saving up for a new phone and laptop.
My emergency fund is full, so I don’t budget any money towards it.
The funds for both my phone and laptop are not full. I budget monthly towards them, so that in the future I have enough money saved to purchase a new one if I want or need to.
I budget 35 euros towards the laptop replacement and 15 euros towards phone replacement.
Detailed 2019 Budget
Here it is, the detailed 2019 budget:
|Insurance||110||Health and others|
|City Taxes||100||Reservation, estimated|
|Energy||55||Electricity, water, heating|
|Subscriptions||80||Including gym, sports club, Netflix, etc|
|Total Living Expenses||1375|
|Total Replacement Funds||50|
I’m not tracking the spending from our joint accounts, but might start doing so. However, for now I don’t feel like it.
What does your budget look like?