After becoming semi-retired and self employed, my very low burn rate has changed slightly. Please compare your expenses with mine and the ideas behind it in order to lower your own expenses accordingly.
How’s it going everybody this is beat the bush today i’m gonna challenge you just spend less money than i do every single month every few months or so i look at my burn rate and i look at all the major expenses that i have in my utilities and categorize them here is what my expenses look like currently now this excludes housing so if you add in housing estimate
Something like about fifteen hundred dollars every single month depending on where you live you can get as low as five hundred dollars every single month so fifteen hundred dollars means you need to spend another eighteen thousand dollars on top of what i outlined over here if you spend only five hundred dollars a month it’s another six thousand dollars now let’s
Just jump to the total costs over here right now i’m spending about nine hundred sixty-five dollars are close to one thousand dollars every single month now i made a previous video saying oh i spent only five hundred fifty dollars every single month and this is roughly what it still is at if you exclude housing and also health insurance health insurance is something
That got added to my expenses after i became sort of semi-retired i kind of became self-employed by doing this youtube channel so a lot of people keep on asking me what do you do for health insurance i basically buy it myself full price with no subsidy at all because if you have an employee you generally pay i don’t know 20 dollars do a hundred dollars every single
Month or something depending on the plan that you choose and most of it is paid by your employer the better the employer the more of it that they pay in my case i actually have to pay it full in full out right and i have to pay about three hundred ten dollars every single month and you might wonder how much will it cost you well it really depends on the plan that
You choose and also your age generally from what i’ve seen is that if you’re like 65 or something and you choose a really good plan medium size plan even it might cost you something like a $1000 so just look at this and go okay you know if you’re a young person it might cost as low as $200 even and as you age older too 60 65 or so you’re gonna expect that your
Premiums is gonna ramp up all the way up to thousand dollars or something every single month so right now i’m paying about $310 and probably in another five years it might balloon to $500 $600 even but let’s just move on i’m thinking of other ways to try to lower these insurance premiums by getting other kinds of plans because i don’t necessarily have to buy it
Through the insurance portal right now groceries is costing me about $300 mainly because number one i started buying a lot more organic foods and number two i bought less meat so they kind of compensated each other but i am somehow spending a little bit more just kind of exploring the different kinds of food that i can buy and buying a lot more spices i’m trying a
Lot more different kinds of beans different kinds of grains a lot more organic fruits and things like that so you know roughly that’s what i’m spending every single time i go to the grocery store cost me maybe forty to sixty dollars every single week and then on top of this i buy some stuff online like spices and stuff and i get it mailed ordered so you know it’s
Roughly $300 restaurants has costed me about $100 the last month and i feel like i need to scale back on this every single time i go out to eat i don’t feel so well it’s because of one reason or another and i feel like you know i’m just eating it just to do a socializing type of thing so i do think there’s probably room for improvement on there probably in ways
Where i can still show utilize and still have a meal with friends gas and electric is costing me fifty three dollars on average every single month and this is on average i look at the past twelve months and i average it out so fifty three dollars it’s just to keep the lights on and stuff gas and electric means i still need gas for heating the water and also heating
The airspace over here i gasoline 50 dollars i only fill up about once every single month or so that’s about 50 dollars because i don’t use all that much gas these days when i go places it’s usually very very local just a couple miles away and then i come back home go get groceries come back home and you know maybe once or twice a month i would visit people that’s
A little bit further away internet not exactly dsl because it’s probably some other kind of fiber-optic thing that’s slowed down or something but it’s 4825 for me right now it’s about 40 dollars every single month plus the $100 one-time fee is $8.25 so i just count that as 48 25 every month car insurance is 30 to 90 it’s one-way insurance and i have somewhat high
Deductible on those things so your age your driving history and also the type of car it is what it’s valued at all of these factors into how much that you have to pay for your car insurance some young people of course need to pay a lot of money every single month you might imagine it might be like hundreds if you just started driving at 18 years old water is 30 to
50 and you might be surprised here no matter how little water that you use you’re still gonna pay about twenty five dollars because you have the service fee if you use no water at all that single month or two they charge every two months i think you’re still gonna pay twenty five dollars every month so in a way if you try to conserve a lot of water if you try to
Use as little as possible it’s only gonna shave off couple dollars off this bill so trying to greatly reduce your water usage in that sense it’s not gonna save you all that much so i bring this up because one term is about 724 gallons i think and it’s about $4 so if i’m able to somehow use 720 some gallons less every single month the bill would suddenly become 28
50 instead of 30 to 54 dollars right for all this hassle of trying to you know trying to save a little bit here and there in terms of water i know if you try to get very extreme in terms of saving water it might be kind of ridiculous so in this sense it might not be worth it to try to push this bill lower and me much harder the trash is 1956 every single month and
I push this as low as i could i even disabled my trash my regular landfill bin and now i use overage bags which they require you to buy for every single year and because of this i was able to only get the recycling bin and a compost bin and all of this costs 20 dollars every single month including the overage bag so this is relatively low if i don’t do what i do it
Would probably cost closer to 35 to 40 dollars every single month so this is how i was able to lower my trash bill mainly from not making that much trash in the in the first place and instead i used to compost bin a lot more because most of time people throw a lot of stuff into the landfill that could have went into the compost so if you throw everything possible
In the compost bin you might be able to cancel your landfill bin i have scooter insurance and i looked at that i’m like i paid $13.13 every single month it’s sort of like a luxury for me i really really enjoy riding my scooter around in the summertime not so much in the wintertime like right now but during the summer when it’s just so warm you’re just wearing a
T-shirt and shorts and you’re just putting around in a scooter you have a panoramic view of everything with no windshield over you and you’re just feeling the hot air it’s it’s really really great and i really really enjoyed that scooter so i look at that as you know $150 every single year if insurance and gas is basically mixed and nothing i spend maybe i don’t
Know $20 every single year on gasoline on the scooter it gets like 50 60 70 miles per gallon or something so it’s a luxury for me car maintenance i’d save for this year is about $5 mainly because i needed to change my oil it cost me $50 to buy the ten quarts of oil on my porsche boxter and i basically didn’t do anything else i would estimate normally in my costs
Maybe $100 every month i have to save up maybe a thousand some dollars just in case something big happens i have to buy like a water pump but generally i make the repairs myself these days even for things that i haven’t done before i just try to learn online i know sometimes there might be something that creeps up that i cannot do myself so i know that sometimes
It might cost me you know $1,000 all of a sudden so that is on my mind but you know over the past last year i didn’t spend all that much on car maintenance this is even including tires because apparently after i stopped driving a lot of miles i think 50 miles round-trip every single day to work after i stopped doing that i incur a lot less miles on my car and it
Turns out wow all of a sudden i don’t have to buy as much tires fast track i just don’t go across the bridge as much these days just because i don’t need to home repair maintenance i haven’t really repaired anything this past year cellphone i don’t pay anything for a cell phone i’ve been using a free one that unreal mobile gave me they also gave me a free plan for
One year so in that sense i did not have to pay anything if they did not give me that plan i would have still been using freedompop and i think they lowered the amount of data that you get now you can only get five hundred fifty megabytes of data every single month and i probably would have just kept on using that if unreal mobile didn’t give me that free phone
And also the service landline i don’t have one school loan i already paid that off a zero car loan i bought my car a long time ago i don’t have a loan there so what is on top of this that is not shown here mainly travel when i go travel i don’t a virtue into this bill here also a lot of one-time electronic stuff that i bought or does not show up on here including
You know i bought that dj thing 1200 bucks right there i did not a verge the into saying okay that’s $100 a month mainly because those are just one-time things i know you know it’ll add up but i would say that those are a bit more rare so this burn rate stuff is sort of like what’s required if you look at what’s required i have to buy in health insurance i cannot
Just not buy it groceries i have to have food restaurants well i can reduce this i said i can reduce this gas and electric i have to have this because or else i won’t have lights on do you think i’m gonna just lay around in the dark or something gasoline i need to put gas in a car so that i can go to places to meet with other people so i kind of feel that is
Required dsl is required because i need to go online and upload these videos karan sure you know i have a car and it’s not feasible for me to not have a car because it would just kind of lower my quality of life it’ll make me require to take public transportation all the time and every single time if i need to go somewhere that would take me maybe 40 minutes it
Would take me two hours instead if i do public transportation waters require trashes required scooter insurance is not required to but it’s very low so that’s why i did not eliminate it so far car maintenance is required fast-tracked well you know one-time thing sometimes i don’t always have to cross the bridge home maintenance repair i mean i just installed a
New roof a while ago i might need to put in a new fence i might have extra spending in there i do things myself including the plumbing outside one time the pipe burst and normally people would actually call a plumber and go oh my gosh you know go fix it and it’ll cost them a couple hundred dollars instead what i did is i just turn off the water and i just went to
Home depot looked for the stuff that i needed in order to fix that thing and i came back fixed it and that’s it it cost me like 20 bucks cellphone at zero landline zero school on zero car loan zero so there must be other expenses out there ah that i haven’t covered but these are most of it of course obviously it does not include housing and i don’t put it on here
On purpose mainly because everyone’s housing situation is different some people might be living with roommates only cost them $500 other people might be living in a studio in a big city and it will cost them $2,000 so it differs a lot and i feel like if you want to compare your bills you should compare each individual bill what do you have compared to mine and
Basically think about the ways that i reduce my bill and they maybe you can reduce yours as well thanks for watching everybody if you’re interested in supporting this channel check out my audible link down in the video description below where you can get a free audio book game you don’t like this audiobook or the server so you can cancel it before the subscription
Expires and you can still keep this audio book for free and helping it fit this channel don’t forget to give me a like on this video comment down below let me know if your bills are just as low as this or maybe they’re even lower and as always don’t forget to push that subscribe button and ring that like on thanks for watching
Transcribed from video
Dare You to Spend Less Than Me By BeatTheBush
