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The cost of "Quality of Life"

How much do you spend each year on quality of life

  • <$5000

    Votes: 8 38.1%

  • $5000-$12000

    Votes: 6 28.6%

  • $12000-$24000

    Votes: 2 9.5%

  • >$24000

    Votes: 2 9.5%

  • Other (Please explain)

    Votes: 3 14.3%
  • Total voters
    21
Lutherf

Lutherf

DP Veteran
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Location
Tucson, AZ
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I just finished working on a retirement budget for a client and, as usual, we talked about quality of life expenses. These are the expenses for such stuff as shopping for things you don't need, eating out and other entertainment.

Having done this kind of thing for a while I see these calculations all over the board but I'm curious as to what the board has to say. The options are annual figures and choices are private.
 
No idea how to answer. I don't need cable, internet, cellphones and the like technically, and then there are things like investments that we do not need, but can make. Just too broad for me to put a figure on.
 
Lutherf said:
I just finished working on a retirement budget for a client and, as usual, we talked about quality of life expenses. These are the expenses for such stuff as shopping for things you don't need, eating out and other entertainment.

Having done this kind of thing for a while I see these calculations all over the board but I'm curious as to what the board has to say. The options are annual figures and choices are private.
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I'd guess about $2000 on toys, vehicles, race car stuff, etc. Occasionally I'll sell one of the toys and make a profit, so it may pay for itself, sometimes. Inventions. I buy parts to build things. I expect these to pay for themselves, but that seldom happens. Too many computers.
 
Fisher said:
No idea how to answer. I don't need cable, internet, cellphones and the like technically, and then there are things like investments that we do not need, but can make. Just too broad for me to put a figure on.
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I'm not talking about that stuff. That's all stuff I'd include under utilities or investment. What I'm talking about is eating out, going to the movies, buying new clothes, seeing a concert...that kind of stuff.
 
Maybe a grand a year, tops. We're out in the sticks and 'quality of life' kinda just happens. Potlucks once a week, dine out maybe once a month, like that. It's 'way cheaper than living in the city.
Last luxury I'll give up, though, is satellite radio. $13/month.
 
I have no idea. I'm guessing you would include hobby expenses, which for me, are pretty substantial. My guess would be in the 5-12 thousand dollar range. Maybe less, and certainly no more.
 
Grand Mal said:
Maybe a grand a year, tops. We're out in the sticks and 'quality of life' kinda just happens. Potlucks once a week, dine out maybe once a month, like that. It's 'way cheaper than living in the city.
Last luxury I'll give up, though, is satellite radio. $13/month.
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Closer to 2 grand. If it matters. Which it don't.
 
lizzie said:
I have no idea. I'm guessing you would include hobby expenses, which for me, are pretty substantial. My guess would be in the 5-12 thousand dollar range. Maybe less, and certainly no more.
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In my experience that's where most people fall.

A lot of people start out telling me that it's minimal but then I start asking about how often they buy lunch out or stop for a coffee and end up shocked at what it adds up to.
 
Right now, I'd put the figure between $5K to $10K, but then motorsports is never an inexpensive hobby (tires, upgrades, maintenance, etc.)
Don't really eat out more than once every few weeks. Movies and music used to be big things, but have waned.
Computers are pretty cheap, much cheaper than they used to be. Cable, Internet, and smartphone are a must.
 
Lutherf said:
In my experience that's where most people fall.

A lot of people start out telling me that it's minimal but then I start asking about how often they buy lunch out or stop for a coffee and end up shocked at what it adds up to.
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Well, in all honesty, I eat out a couple of nights per week, but that always serves me two meals each outing (because my intake is about half of a standard restaurant meal, and take the rest home for dinner the next night), and it's less expensive for me, single, than buying groceries and cooking. I rarely eat lunch out, and never eat breakfast, so unnecessary food expenses are practically nil in my household.
 
Lutherf said:
I'm not talking about that stuff. That's all stuff I'd include under utilities or investment. What I'm talking about is eating out, going to the movies, buying new clothes, seeing a concert...that kind of stuff.
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Oh boy, if you include take-out Subway we might spend as much as $500/yr. Pity me. :lol:
 
Most of what I spend is "quality of life" stuff.

Eating out I don't really count as a "quality of life" thing. I'm single, live alone and a foot long sandwich at subway is cheaper than actually cooking.

I have two car payments at the moment, even though I have a pickup and a car that are already paid for. Not to mention the added cost of insurance on 4 vehicles. I actually spend little for gas since I don't have to go to work everyday. Most of my monthly cost for gas is moving between my residence in Texas and a house I have been unable to sell yet in Oklahoma.
 
I am guessing 5-12k/year. I have an old car and a motorycle in addition to our vehicles. We don't have to have the latest clothes and don't entertain alot. We generally take two vacations/year. Clearly we need more defined parameters to answer.
 
Lutherf said:
I just finished working on a retirement budget for a client and, as usual, we talked about quality of life expenses. These are the expenses for such stuff as shopping for things you don't need, eating out and other entertainment.

Having done this kind of thing for a while I see these calculations all over the board but I'm curious as to what the board has to say. The options are annual figures and choices are private.
Click to expand...

I get to old and poor to care for myself, I'll just blow my brains out.

Problem solved.
 
TheGirlNextDoor said:
I get to old and poor to care for myself, I'll just blow my brains out.

Problem solved.
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I wouldn't recommend that.

Anyway, I'm not talking about saving for retirement. What I'm talking about is how much people spend for enjoyment of life and maintaining a particular lifestyle.

One of the things that does come up regularly is people with teens tend to spend quite a bit along these lines though not necessarily for themselves but it seems to be rather cash intensive to keep teenagers in the style to which they would like to become accustomed.
 
Lutherf said:
I wouldn't recommend that.

Anyway, I'm not talking about saving for retirement. What I'm talking about is how much people spend for enjoyment of life and maintaining a particular lifestyle.

One of the things that does come up regularly is people with teens tend to spend quite a bit along these lines though not necessarily for themselves but it seems to be rather cash intensive to keep teenagers in the style to which they would like to become accustomed.
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Well, I haven't had a real vacation in 15 years if that tells you anything. I barely have two dimes to rub together. I have a kid graduating high school next year and another the year after that.

I have a 401k, money invested in etrade, and two pensions....however, I don't have extra money laying around to spend frivolously.

I wish I did.

I need a damn break.
 
Lutherf said:
I wouldn't recommend that.

Anyway, I'm not talking about saving for retirement. What I'm talking about is how much people spend for enjoyment of life and maintaining a particular lifestyle.

One of the things that does come up regularly is people with teens tend to spend quite a bit along these lines though not necessarily for themselves but it seems to be rather cash intensive to keep teenagers in the style to which they would like to become accustomed.
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My life style is absurdly inexpensive and my entertainment is cheap. We just got back from a three hour hike and had a great time for exactly $00.00.
 
sawyerloggingon said:
My life style is absurdly inexpensive and my entertainment is cheap. We just got back from a three hour hike and had a great time for exactly $00.00.
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This from the guy that "needed" a used sled and ended up with a 4 wheeler?:lamo
 
TheGirlNextDoor said:
Well, I haven't had a real vacation in 15 years if that tells you anything. I barely have two dimes to rub together. I have a kid graduating high school next year and another the year after that.

I have a 401k, money invested in etrade, and two pensions....however, I don't have extra money laying around to spend frivolously.

I wish I did.

I need a damn break.
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I feel for you and wish I had a good suggestion but the best I can recommend is block out a week on your calendar at some point in the spring and force yourself to get out of town for that period come hell or high water.
 
Lutherf said:
This from the guy that "needed" a used sled and ended up with a 4 wheeler?:lamo
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You mean this?:lol: OK I know it looks bad but it's a tool not a toy damnit and I bought it so I can go in and out on it instead of plowing 3 miles of road. TOOL NOT TOY OK!!!! :lol:
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I would say around 10,000 is wasted to an extent. I would rather enjoy life as much as I can now rather than leaving someone else richer in the end.
 
Lutherf said:
In my experience that's where most people fall.

A lot of people start out telling me that it's minimal but then I start asking about how often they buy lunch out or stop for a coffee and end up shocked at what it adds up to.
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I don't know that lunch is really a quality of life luxury. I have to eat, and I never know where I'm going to be working when lunch time rolls around. Sometimes I bring something for lunch, but frankly once you figure the materials cost and the time spent making something for lunch I might as well spend $2-6 bucks at a diner or whatnot.


Fixing something for lunch is a pain. By preference it needs to be handy and edible cold (access to microwave/etc is iffy), something that won't take a long time to consume, something that won't sit like an anvil in my gut after lunch while I'm trying to work. Typically that means a sammich, and frankly quality sammich materials are kind of expensive.
 
Goshin said:
I don't know that lunch is really a quality of life luxury. I have to eat, and I never know where I'm going to be working when lunch time rolls around. Sometimes I bring something for lunch, but frankly once you figure the materials cost and the time spent making something for lunch I might as well spend $2-6 bucks at a diner or whatnot.


Fixing something for lunch is a pain. By preference it needs to be handy and edible cold (access to microwave/etc is iffy), something that won't take a long time to consume, something that won't sit like an anvil in my gut after lunch while I'm trying to work. Typically that means a sammich, and frankly quality sammich materials are kind of expensive.
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Yeah. That's where a lot of my "quality of life" spending goes. I do pretty good if I cook on weekends and do leftovers for the week but I tend to get bored with whatever it was I cooked. That leads to breakfast and lunch on the road several times a week. Then, since I try to stay away from fast food as much as possible, it ends up being a $20 lunch instead of a $5 lunch.
 
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