Sunday, January 31, 2010

2009 Utliities Expense

This category is mostly stuff that we have to pay for unless we don't want to cook, talk to people, etc. but can be reduced through some common sense.

Our monthly phone bill was the largest culprit coming out to be about $140/month.  This is due to our 800 minutes Sprint family plan which includes my wife, myself, my parents, my wife's mom & stepdad, and her grandma.  Six people on a plan comes out to about $23 per phone.  Not too bad, but could definitely be better.

Our electric bill came out to be about $86/month.  I think the biggest contributor of electric bill is pretty much use of AC during summer months, running two refrigerators, heater and humidifier during winter months.  But overall I think we did fairly well.

Our gas bill was much lower than I expected.  About $52/month.  Winter months were high (near $100), but spring through fall were fairly low (around 20-40).  Our major uses were for heating, cooking, hot water for showers/washing clothes/dishwashing. 

The internet bill was $49/month through Verizon Fios.  This of course is a luxury.  We can live without it, but we don't want to.  It provides us with too much entertainment and I actually do some work from home at least once and sometimes more a week. 

Are there things I want to get rid of?  Sure, but that would require significant changes, especially the phone and internet bills.  But if we can shave $100 a month, that would be significant indeed. We're spending almost $340 a month in utilities.  Doesn't sound like much, but even a little bit of savings like $100 over 30 years @ 10% interest would mean a huge amount of chump change: Almost $200,000.

Almost $200,000 that's enough to fund both my daughter's college funds, and probably their weddings.  What can a budget do for you?

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