Over the weekend I finalised the figures for our April spending.
January – $2,628.73
February – $1,783.49
March – $4,320.56
April – $2,384.46
Now that I have 4 months of spending recorded I decided to extrapolate that to a 12 month period and came up with $33,351.72 which is rather high considering that is only our variable expenses and does not include the mortgage, rates, insurances etc. I then took out the holiday costs and redid my calculations which presented a more realistic figure of $24,832.32 for the year. Finally, I excluded our public transport costs and our variable spending dropped to $18,340.32 when averaged over the year. The reason I tried excluding the public transport costs is that these are entirely associated with going to work and would not be relevant in a post-retirement budget.
This is certainly proving to be an interesting exercise to see where the money actually goes.