Monday, October 27, 2014

Where the Money Goes

As long as I'm into graphs, here's a personal one, though not remotely as cool and interactive as the Gapminder site's...

Our family budget is on my mind as right now we're working on refinancing our mortgage, so that our current lower-paying job won't eat into our savings quite so quickly.

Since I was thinking of such things, out of curiosity I wanted to compare our household spending to the average. Here's how it (roughly) breaks down for us this past year:

Fine print: in my own budgeting, I keep track of categories that work for me, but then I find that they're sometimes hard to explain and parse out in a quick-to-grasp way for someone else. 
For my pie chart there, Home includes mortgage, insurance, property taxes, utilities, trash, repairs, phone and internet; Offerings is nominally at least 10% but the number looks skewed because we've switched to tithing our post-tax income for easier accounting of the retirement savings gains later on; that Miscellaneous category is a pretty large catch-all, including most household shopping like clothes and shoes, cleaning supplies, toys, crafts, laundry costs, furniture, birthday and Christmas gifts, kitchen gadgets, all that.

To compare, here's a slick infographic which is based on a fairly recent consumer spending index. Enjoy.

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