What's Your Top Ten?

[Gardening Grandma]

So, on the old message board, Phil (and others) frequently advocated looking at one's income/outgo on an annual basis rather than monthly. Phil especially posted to focus on the top ten expenses if you were looking to cut expenses. For fun and my own enlightenment, I've done that. Some items surprised me.

Mortgage 17% of gross income (this includes taxes, ins and utilities)
Education 9% (this is saving for private school tuition and 529 contributions)
Income taxes 9%
Healthcare 6%
RV payments 6%
Groceries 5% (food only)
Auto expenses 5%
Personal care/clothing 3%
Dogs (two) 3%
Household misc 2%

What's your top ten?

[daisylu]

I was not surprised, but wish I was. Though my husband makes much more than I, I based the list on only my income.
2 kids.

Mortgage 23% (PITI)
Food 20%
Childcare 12%
Healthcare 10%
Auto expenses 8% (no payments)
Utilities 8%
income taxes 4%
pets 2%
Misc house 2%
kids 1% (field trips, sports, etc)

As I noted, this is based solely on my income, though we have 2.

And yes, I do have many retirement accounts which if I counted those would equal 20%. But that is non-negotiable for me.

[thyme4change]

I did this a while ago and was so depressed how much income taxes and FICA were that I sort of stopped looking.

I do know my food budget was bigger than my mortgage. Either I gotta eat less or get a better house!

[Deleted]

This is just after tax spending:
Mortgage 21%
Mortgage pre-payment 21%
Food 7.7%
Household goods (clothes/electronics/other misc) 7.3%
Cash withdraws 4.05%
Cable tv/phone/internet 4%
Gasoline 3.8%
Dining out 3.2%
Electricity 2.1%
Kids Lunch Money 1.6%