I contemplated writing this post as I thought, who really wants to know what we spend but I recently saw another bloggers post on this and I found it really interesting to read and compare to my own expenses. Plus who can resist a bit of a nose into how other people spend their money!
I also read in other blog posts the concept that you actually pay to work and that when you retire you can expect to live on less as you won’t be paying to commute, for lunches, extra take away due to tiredness to cook, cleaners etc and was curious how my year of maternity leave expenses compared to the year before when I was working, so I will do a bit of a comparison in this post too.
This spending includes ALL expenditure for Sep 2018 to Aug 2019 including my Canadian accounts converted to Euro.
High level summary
Here are the high level categories:
| Main Category | Total |
| Bank Charges | -€ 44.38 |
| Blog | -€ 75.08 |
| Cash | -€ 461.98 |
| Entertainment | -€ 2,747.64 |
| Food | -€ 7,258.12 |
| Giving | -€ 541.20 |
| Home | -€ 4,228.10 |
| Kid Stuff | -€ 1,051.06 |
| Medical | -€ 1,534.23 |
| Misc | -€ 52.20 |
| Monthly Bills | -€ 12,503.37 |
| Personal | -€ 639.19 |
| Rainy Day Funds | -€ 240.00 |
| Transportation | -€ 2,679.61 |
| Uncategorised | € 177.93 |
| Vacation | -€ 3,668.01 |
| Weddings/Family Events | -€ 775.30 |
| Zero Waste | -€ 69.00 |
| Canadian Rental Property | -€ 2,392.00 |
| Grand Total | -€ 40,782.87 |
So last year we spent nearly 41,000€, quite a bit more than I thought we were on target for but still close to the national average.
Detailed expenses explained
And here are the expenses broken down into further detail with explanations.
| Categories | Total | Note |
| Bank Charges Total | € 0.71 | We manage to cover our bank charges with a cash back credit card and earned interest from cash in our bank accounts |
| Annual Fee | -€ 30.00 | Cost of the credit card |
| Earned Cash Back | € 61.81 | Cash back from the credit card |
| Debit Card Charge | -€ 17.03 | Non euro transaction fees which we are now avoiding by using Revolut |
| Earned Interest | € 21.69 | We had a large sum of cash uninvested for a portion of the year |
| Paypal Tansfer Fee | € 0.24 | |
| Quarterly Fees | -€ 36.00 | Our bank account fee structure changed at the end of the year so we both had fees for 1 quarter, we are looking to merge bank accounts to avoid these fees in future |
| Canada Banking Total | -€ 45.09 | |
| Cash Advance/Interest | -€ 18.08 | We have a line of credit which we use to top up our Canadian account before our rental income is deposited which costs us in cash advance fees |
| Monthly Fee | -€ 27.01 | We have a minimum balance requirement to avoid fees but we make more by having that minimum balance invested |
| Blog | -€ 75.08 | Cost of the domain for the year |
| Cash | -€ 461.98 | Couldn’t remember what we spent this cash on |
| Entertainment Total | -€ 2,747.64 | |
| Alcohol | -€ 357.05 | This is actually higher but it’s included in our grocery costs as we buy wine at Lidl, still groceries and alcohol categories combined are 945€ less than last year |
| Board Games | -€ 40.00 | I treated myself to a board game at Christmas |
| Books | -€ 52.46 | We have started using the library but are impatient sometimes and buy ebooks on holidays |
| Gadgets | -€ 158.67 | Includes a monthly app, a shaver, annual VPN and the resale of my old macbook |
| Movies/Plays | -€ 61.70 | obviously much fewer outings to the cinema since baby arrived |
| Netflix | -€ 104.26 | |
| Night out | -€ 153.30 | 560€ less than last year (since arrival of baby) |
| Sporting Events | -€ 505.23 | Mr. MH’s main source of entertainment is attending live sports with family, includes tickets, transport and pints afterwards |
| Sport Equipment | -€1,027.43 | We bought 2 kayaks, roof rack, ropes, life vests etc this year, this won’t be a recurring cost |
| Video games & accessories | -€ 287.53 | Both Mr. MH and I play video games so this is a joint cost |
| Food Total | -€7,258.12 | |
| Coffee/Snacks | -€71.46 | |
| Fast Food | -€721.25 | We usually get take away once a week |
| Groceries | -€5,021.46 | This includes everything you’d get at the grocery store including food, alcohol, laundry soap, cat food/litter and the few tools/misc items you’d find at Lidl. We spent 570€ less in this category than last year, mainly due to shopping at Lidl as much as possible and cutting WAY down on meat |
| Lunches | -€1,144.50 | Mr. MH has a subsidized canteen at work with excellent restaurant quality food so it’s hard not to buy food there. As I wasn’t working and buying lunches at my work our spending in this category went down by 620€ for the year. |
| Restaurants | -€299.45 | About the same as last year, we really don’t go out to dinner much. |
| Giving Total | -€541.20 | |
| Charity | -€100.00 | |
| Gifts | -€441.20 | Net amount of all spending and gift vouchers received. Includes all gifts for birthdays and Christmas for friends, family and each other, mothers/fathers day etc |
| Home Total | -€4,228.10 | |
| Accessories | -€153.67 | Got a new set of sheets and a fire blanket and extinguisher for the house |
| Furniture | € – | Didn’t buy any furniture this year |
| Insurance | -€ 349.62 | Standard home insurance for the year |
| Property Tax | -€ 225.00 | Yes, Canadian readers this is the total of our property tax for the year! This is a new fee in Ireland and they are slowly rolling out the costs, I do believe eventually it will be more in line with rates in other countries. |
| Maintenance | -€2,363.45 | Biggest thing here was a new boiler as it hadn’t been replaced since the house was built and was very loud plus a few bits like toilet seats, caulking etc |
| Renos | -€ 976.36 | We had nearly half the house painted, usually something we would do ourselves but were sick of looking at the unfinished job since having a baby, we didn’t want to paint with the fumes so had this done while we were on holiday, best thing to return home to! |
| TV License | -€ 160.00 | |
| Kid Total | -€1,051.06 | |
| Books/Courses | -€ 73.05 | Bought a few sleep books (to no avail) and some books for the baby before we knew that the library had baby books |
| Furniture/Accessories | -€ 349.51 | Includes chest of drawers, blackout travel blind, car seat and a few other bits |
| Supplies | -€ 622.50 | Includes things like cloth nappies, wipes, soothers, calpol, bibs, high chair, baby cutlery, teething stuff, potty, baby safety stuff, clothes etc |
| Toys/Books | -€ 6.00 | We got most toys either given to us or we got at the second hand store for a few euro, though we felt bad buying from a charity shop since we were taking from those who really can’t afford toys so we will be donating toys there once we are done to give back |
| Medical Total | -€1,534.23 | |
| Doctor | -€ 110.00 | Net amount of GP visits after claiming refunds from health insurance |
| Perscription | -€ 164.59 | Includes some birthing supplies, some insulin Mr. MH had to buy in Canada and misc pharmacy spend |
| Sensors | -€1,259.64 | Mr. MH is diabetic and currently uses insulin sensors which we pay for out of pocket as they are not currently covered by the long term illness scheme, this is the net amount after we claimed back the eligible taxes |
| Misc | -€ 52.20 | Random postage costs spent through the year |
| Monthly Bills Total | -€12,503.37 | |
| Electricity | -€ 600.76 | I normally shop around each year for the best utility rates and I did last year but when comparing we were still receiving discounted rates which I didn’t realise would expire. I only recently realised we were no longer getting those discounts and so our combined electricity/gas costs are 150€ higher than last year even with the reduced consumption from the new boiler 🙁 I will be switching again as soon as possible, I think this oversight cost us about 500€ more than we needed to be spending |
| Gas | -€ 819.16 | As above, although our consumption is down from last year, we are paying more since we stopped getting the discount early in the year |
| Internet | -€ 501.11 | We normally look for discounts here too and have managed to pay an average of 42€/month for unlimited fibre internet |
| Life Insurance | -€ 124.16 | Life insurance for me for the year. 75€ less than last year and more cover as I switched plans at the end of the first year |
| Mobile | -€ 520.50 | Cost for 2 mobile phone plans for the year. I use post mobile and pay 20€/month for 7Gb of data 250 minutes and 250 texts. Mr. MH pays 30€/month with Eir as they include access to sports |
| Mortgage Interest | -€5,507.04 | This is an estimate of what interest we would have paid as we don’t have access to online balances, we only get an annual statement |
| Mortgage Principal | -€4,154.64 | |
| Refuse Bins | -€ 276.00 | We were paying 22€/month but rates have recently gone up to 25€, even with a baby we haven’t had any weight overages as we don’t have any disposable products |
| Personal Total | -€ 639.19 | |
| Accessories | -€ 19.41 | Mr. MH got a new wallet |
| Clothing | -€ 136.90 | Mr. MH got some new clothes. The only clothes I bought were included in the kid stuff category as I wouldn’t have bought them if we didn’t have a kid (I got a few nursing tops and have lived in them all year, they are fit for the bin at this stage haha) |
| Salon | -€ 42.50 | I got one hair cut last year. Mr. MH pays cash so his are included in the uncategorised cash category |
| Toiletries | -€ 39.48 | Razors (I haven’t switched to safety razors yet) and natural soaps from the health food store |
| Vape | -€ 400.90 | Mr. MH vapes, he managed to save 200€ from the year before by finding an online bulk supply |
| Family Savings | -€ 240.00 | This is contributed to a shared family rainy day fund |
| Transportation Total | -€2,679.61 | |
| Car Insurance | -€ 605.70 | Our car is a Japanese import so we are limited to insurers when we shop around. This is JUST for third party fire and theft |
| Car Repairs/Maintenance | -€ 455.89 | 350€ of this is for an older car we are getting ready to sell off, the remaining 100€ is all we spent on our ’05 Yaris for a tyre and car battery |
| Licensing | -€ 55.00 | Mr. MH’s license was up for renewal |
| Motor Tax | -€ 358.00 | This is for an ’05 1.3L Yaris |
| NCT | -€ 55.00 | Annual NCT |
| Parking | -€ 46.05 | This is what we spent on parking in town though we paid cash sometimes so is probably more than this |
| Petrol | -€ 717.57 | We spent 1,250€ less on petrol and public transport this year as I was no longer commuting to work. Some days Mr. MH would take the car but we live less than 3km from his work so costs are low. We also travelled less since we had a baby |
| Public Transport | -€ 240.00 | As above costs for public transport are down as Mr. MH has access to the car |
| Taxi Fares | -€ 76.40 | We spend 130€ less on taxis, likely resulting from fewer nights in town |
| Tolls | -€ 70.00 | We spent 50€ less on tolls, again as we were travelling less since we had a baby |
| Uncategorised | € 177.93 | There were a few transactions I couldn’t figure out (or didn’t get around to categorising at the time) including a cash deposit so the net amount is a positive |
| Vacation Total | -€3,668.01 | This was a big expense this year as I was on maternity leave and we were taking advantage of me being off. This includes 7 weeks of holidays (1 week in Tenerife and 6 weeks at home in Canada) |
| Accommodation | -€ 541.95 | This is for the week in Tenerife as we didn’t pay accommodation while I was home in Canada |
| Cat Sitter | -€ 60.00 | This was for the week in Tenerife. My brother in law kindly cat sit for us while we were in Canada |
| Food/Drink | -€1 ,130.49 | This is for the 7 weeks, though we did get quite a few meals provided by my cousin and parents |
| Gifts/Souvenirs | -€ 22.01 | Customary cheese and chocolate for family |
| Passport/Visa | -€ 46.50 | Baby’s first passport |
| Plane Fare | -€1,601.14 | Return tickets for 2 adults and 1 baby to Tenerife and Canada including extra baggage costs on low fare flights |
| Shopping | € – | We didn’t do any shopping on holiday |
| Transport/Parking | -€ 265.92 | Airport taxis and public transport for Tenerife and in Canada we had loan of my parents car so had some petrol costs |
| Weddings/Family Events Total | -€ 775.30 | We didn’t attend any weddings this year (despite missing my sisters wedding due to having just had a baby) but we did have a family weekend away for a 50th birthday |
| Accommodation | -€ 471.00 | |
| Food/Drink | -€ 31.50 | |
| Transport | € – | |
| Gift | -€ 272.80 | |
| Zero Waste Total | -€ 69.00 | About 2 years ago we started trying to cut back on waste and live more sustainably so I have a spend category for zero waste related purchases. We spent alot on reusable items last year so only a small expenditure this year |
| Consumables | -€ 21.75 | This was for an eco egg instead of laundry soap |
| Re-usables | -€ 47.25 | This was for my hair brush (to use instead of shampoo) and a keep cup replacement after my last one broke 🙁 |
| Canada Rental Property | -€2,392.00 | Our net expenses in Canada after rental income, income taxes and all property expenses came to 2,392€, which is more than 600€ more than we spent last year due to an increase in mortgage interest rates. |
| Grand Total | -€40,782.87 |
So there you have it, our detailed annual expenses.
2 year comparison
Comparing the last 2 years (not including house purchase costs, renovations and furniture) we spent nearly 2,250€ less than when I was working.
At a high level we spent less on
- food (1,250 less)
- transportation (945 less)
- weddings (936 less)
- misc (844 less)
- zero waste items (658 less)
- personal (559 less)
but spent more on
- monthly costs (1,612 more)
- vacations (1,193 more)
- our Canadian rental property expenses (617 more)
Costs for retirement
So looking at this years expenses how do we think we could live on less in retirement? Well we could easily cut out big non recurring costs like the boiler (2,400), the kayaks (1,000) and house updates (1,000 for painting), we’d also have sold the Canadian property and reinvested those assets so we would no longer have a negative cash flow of 2,400€ there, and we would be retired so even though we would still like to travel we probably wouldn’t spend 3,700€/year which brings our 41,000€ down to 30,000€ for the three of us. Now we’d probably have some home related expenses or some travel or extra kid related expenses so even if we add 5,000€ to that, 35,000€ for a family of three is pretty good, or so I think.
How do your expenses compare?
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