Budgets - RV-Dreams Community Forum

TheNewhalls · RV-Dreams Family Member

Budgets

Barbaraok · RV-Dreams Family Member

We have 9 years worth of budgets - and over the 9 years, we found we were about $90/month under on average. Some months higher, some lower. I'm not sure what you mean by 'sticking' to budget - - like never going over? When the market crashed in '08, we had less coming in so we had to adjust by staying longer, using more membership parks, not driving as far, etc. But if you have done your budget correctly, you will see where the money is going and where you can trim back or adjust as necessary. We also have routinely set money aside for annual maintenance, insurance, other such bills.

Budgets should be goals, but if you find that you are spending a lot of time worrying, then you really need to rethink your approach to fulltiming. And no one else's budget will fit you unless you live exactly like they do. For instance, I don't know many people that budget in $50 or more a month on wine - but we do, because finding wineries all over the country is one of our fun things to do and we almost always buy a bottle at each winery to enjoy later. Ideally a budget should help you plan for the year, identify bills coming up that you can set money aside a little each month so it isn't a big, unexpected amount when it comes do, and see areas where one can reduce the budget amount. For instance, when we first started, we looked at a lot of budgets that people had on their blogs and they would have $15+ a month for propane. The last time we filled up was Dec. 2013. We still have ½ tank of propane and maybe will use it this year, though I wouldn't be surprised it when we get back to Arizona it is still sitting close to the ½ mark. We just don't use much as other people do. So that amount was reduced to $5/month and the other $10 moved into a category where we did spend more - like Breakfasts out.

Barb

-- Edited by Barbaraok on Saturday 11th of April 2015 10:45:35 AM

Russ Ranger · RV-Dreams Family Member

I drove my wife crazy with my excel spread sheets for a year before we started our RV/Mexico adventure. I had to know if a new lifestyle was going to work. Could we retire early? I wasn't willing to sell the house, trawler and my big red tool box if the new lifestyle was not sustainable.

After the first month I was happy to see that the planning actually worked. By 6 months I stopped worrying and just let life happen. We're coming up on 2 years and I haven't looked at our budget in months. We naturally know if we overspend we will have to tighten our belts the next month. The check book balance tells the score.

The best decision we made before beginning was the establishment of an emergency fund before we started. The peace of mind in knowing that we had set aside funds to cover unpredictable events made facing the inevitable emergencies manageable. There have been a few things happen during the first two years that might have shaken us if we had not planned a strong emergency fund.

"Does anybody have a workable budget that they actually stick to?" We have a budget. We don't have unlimited funds, so I guess we stick to it. But it is a more natural happening than a ridged practice. Life just flows along as it did before we made the "big step".

Life is good.

Barbaraok · RV-Dreams Family Member

Establishing that emergency fund can't be stressed enough. I put 10% of the purchase price of our rig into the fund and then we add to it each month. We didn't purchase a service(warranty) contract, we self funded. I realize not everyone can do that, but one must plan for breakdowns because they happen.

Barb

BiggarView · RV-Dreams Family Member

TheNewhalls wrote:
...As an example we know we would like to camp for under $30 a night, but it has never stopped us from camping for twice that amount. (Upriver in Ft Myers comes to mind and we had a great time with some great friends there) When I add in all the Walmarts, Casinos, Elks, American Legion, Passport America etc. we've stayed at our average camping expenses for the year were just over $36 per night...

If you camp at 60/night and 30/night for an equal number of days per year. To get to 36/night you would boondocker, wallydock etc for 73 days a year and 146 nights at 60/night and 146 nights at 30/night. To get to 30/night average you would have to camp only 4 nights less per month at the 60/night rate and switch those to 2 @ 30/night and 2 boondocking nights per month extra. So it's not impossible. However if you like the 60/night sites then you'll have to take 180/month out of your budget somewhere else.

BarbaraOK and Russ Ranger both are right on the need for emergency funds as an important part of your budget. (not just for RVing) When working out a budget it should be right at the top of the list. Putting rig maintenance funds into a reserve fund or the emergency fund works for those unplanned for but ever present pesky things that just seem to pop up. If your finances are somewhat tight, having the right insurance to cover preventing the wiping out your savings when a disaster strikes is important, but if you can self-insure because you have the cash in reserve you'll probably come out ahead. Putting the insurance premiums you would be paying into a low risk account means you'll have the money when you need it. And if you never need it... You can think about treating yourself to....(fill in the blank) smile

Budget are guides and best guesses for whatever you plan to do... it's not carved in stone but going over in one area means sacrifice in another in order to stay on budget.

We are also looking at 30/night on average (2015 dollars) but we are looking at lifestyle choices that will get us significantly under that target (think closer to 17/night), so we can spend on other areas we deem more essential to what we are planning for our FT experience.

Hope you find a perfect mix for your adventure that you can live with. smile

Brian

-- Edited by biggaRView on Sunday 12th of April 2015 06:22:12 AM

jrzygrl64 · RV-Dreams Family Member

Hey Gene - when you find the magic budget wand - and you are done with it - I get it next! Ok?

Bill and I have a budget on paper and we could "mostly" stick to it - except life keeps getting in the way. We decided to splurge on the Keys - spending 2 to 3 months of CG fees in 2 weeks - we knew that would be tough to make up. But then we had a few one time things that threw a wrench in the budget, namely having to go to DE when my nephew passed and then also going to Pittsburgh when our daughter had her Masters defense. OUCH to the pocketbook. But - we are doing the best we can and make the best choices we can every day - still trying to find the balance between doing what we want and not spending every penny too quickly. It isn't always easy.

Good luck and like I said - when you find and finish with the magic budget wand - I'm next in line for it!

Hugs to you and Eileen!

Diana and Jim · RV-Dreams Family Member

Barb, I love that you included wine as a separate line item in your budget :) We have decided that if we buy a bottle at the store, it's groceries. But if we buy a bottle at a winery, it's entertainment! Diana

marianne57 · RV-Dreams Family Member

Can someone help me out with some info on this please? I'm not trying to be nosy but I'm working on our budgets now to go full-time. Do you all plan an actual 1500-1800 a month for campground fees a month then??? We have Passport America also, but can't you get a monthly rate especially in the winter months at some places? I wasn't anticipating quite that much per month, but reading this I'm guessing I need to rethink that area a little? If you could give me some idea, I would really appreciate it and any way to help keep the cost down would help? I know boon-docking is an option, but I'm thinking that it won't be the norm for us. Thanks all.

jrzygrl64 · RV-Dreams Family Member

We budget $20 - $25 per night but right now we are at a National Forrest CG and paying $11 per night including electric but no water or sewer on site, but literally 150 feet away. While it is not convenient to have to move to dump and fill up water - for $11 per night you deal with it.

Hdrider · RV-Dreams Family Member

We budget $700 to 800 per month. Sometimes we are under and sometimes over but after almost 3 years of being on the road at the end of this month our nightly average will be $20.50 per night. Most of our stays are weekly with few monthly's mixed in, but not many. And we boondock on average 2 months per year I guess.

The $700 & $800 are for when we are on the move, normally moving every week. The now and again that we stay in one spot for a month is normally less, like this month we will stay put and pay $420 plus electric that will be about $75.
But I'm sure some budget $1500 to $1800 per month.

-- Edited by Hdrider on Sunday 12th of April 2015 08:02:24 AM

Hdrider · RV-Dreams Family Member

Ok, because I piped up about the campground fees I’ll elaborate further. I enjoy research and started researching the fulltime life style years before we actually made the leap. And like you a budget was a big part of it so we didn’t take “Throw Caution to the Wind” (LOL,,, our blog title) only to find out we couldn’t afford it, we do NOT have a bottomless bank account.
I looked at numerous budgets that many fulltime RVers were and are willing to share and if available tried to read any blogs that they might also offer to see how close their habits might be to ours. And taking into account that everyone’s life styles are different we came up with what WE thought would be a good budget.
During the first year on the road we were pleasantly surprised at how close we actually were with our budget. Even though we budgeted low in some categories we also were high in others ant actually came in UNDER budget for the entire year.
Everything is always a work in progress so we made a few minor adjustments to our budget which in fact did make it better and closer for our second year but still had some categories over and some under but under overall. And all we care about is the year end number.
But once again we made adjustments and are now well into our 3rd year.
We may not really have to keep the budget on a spreadsheet and refer to it like we do but it’s a constant reminder that we are NOT on vacation and do NOT have an endless sully of cash. And if for no other reason it does help keep us in check.

We budget $350 per month for food at home and $250 per month for going out to eat and have found food to be the hardest thing to stay on track with LOL!! Everything else we do pretty darn good.
I also agree that a certain amount of money socked away for an emergency certainly helps keep the mind at ease. But everyone is different.
Good luck with your budget and have fun with it. It’s all part of the journey.

-- Edited by Hdrider on Sunday 12th of April 2015 07:59:51 AM

Barbaraok · RV-Dreams Family Member

Diana and Jim wrote:
Barb, I love that you included wine as a separate line item in your budget :) We have decided that if we buy a bottle at the store, it's groceries. But if we buy a bottle at a winery, it's entertainment! Diana

Our only problem is trying to limit it to ONE bottle at a winery. Or we get to Sonoma Valley and there are so many wineries that the coach tilts to one side because of all the wine on board. biggrin Now that really busts the budget.

Barb

Barbaraok · RV-Dreams Family Member

marianne57 wrote:
Can someone help me out with some info on this please? I'm not trying to be nosy but I'm working on our budgets now to go full-time. Do you all plan an actual 1500-1800 a month for campground fees a month then??? We have Passport America also, but can't you get a monthly rate especially in the winter months at some places? I wasn't anticipating quite that much per month, but reading this I'm guessing I need to rethink that area a little? If you could give me some idea, I would really appreciate it and any way to help keep the cost down would help? I know boon-docking is an option, but I'm thinking that it won't be the norm for us. Thanks all.

No we don't pay anywhere near $1500 a month for campground fees. In fact, $700 for a month would be pretty unusual and only happens when we are have to be somewhere for a specific amount of time (like in Seattle) and there is no parks near by at a cheaper rate. For winter months, it is usually much less then $500 + electric, which might run $50-$60 for the month in Arizona. For months we are traveling we make extensive use of membership parks, where our costs are never more than $10/night (often $0) and we use them for at least 100 nights/yr. We do use PPA (and Ecapees) when traveling between point A and point B.

Barb

Camper Chronicles · RV-Dreams Family Member

Hi Gene ... I've been posting my budget for the last few months and have found that the exercise helps keep us honest as others have said. If you have enough data to redo your budget based on actuals maybe now is the time. We are stil collecting the real costs as we go, so we have started having a conversation mid month about where we are and what we can do to adjust. Talking about it after the damage is done only works if your willing to adjust next month. We seem to do better if we talk mid stream because curtailing activities for a couple of weeks to make money back us t so bad as having an entire lean month.

That being said its a balance. You have to weigh quality of life against whether or not the life is sustainable. That's a very personal decision and one we all need to face before we settle in.

Miss you and Eileen and say hi to Max for me 😄

Neil and Connie · RV-Dreams Family Member

Connie and I have averaged $29 a night since hitting the road in July 2012.

LandYachty · RV-Dreams Family Member

We just started our blog and are including our budget. (The blog will be back online this week). We love boondocking and Government parks, so $300 a month for campgrounds would be a big month for us. We do keep track of everything (guess that is the old accountant in me) so we try to be honest in what we post.

el Rojo and Pam · RV-Dreams Family Member

I budgeted $40 a night for camping and $1000 per month for diesel. The only time we got close to that was traveling in AK and Canada, but that doesn't count since we considered that a special trip/vacation. I came up with $40 a night from our KOA days when we were wo?k??g, and I pulled $1000 for diesel out of the air....didn't have a clue what to put down. I think we spend avg $400 to $600 for camping and the same in diesel if we are on the move. If you're just sitting it's a lot cheaper. Going out to eat/entertainment is where I fell short. Food for us is about $450 and this includes bathing and cleaning products.

Do we stick to it? I track it to see if we need to change life styles but don't worry about it that much. You will find your first year much more expensive due to the mindset of "vacation mode" go go go lifestyle and the purchasing of helpful gadgets ie. gps, antenna boosters.

BiggarView · RV-Dreams Family Member

Barbaraok wrote:
Diana and Jim wrote:
Barb, I love that you included wine as a separate line item in your budget :) We have decided that if we buy a bottle at the store, it's groceries. But if we buy a bottle at a winery, it's entertainment! Diana
Our only problem is trying to limit it to ONE bottle at a winery. Or we get to Sonoma Valley and there are so many wineries that the coach tilts to one side because of all the wine on board. Now that really busts the budget.
Barb

Diana...we think of such purchases the same way...Cindi

Barb...Sounds lke a real problem confuse ... we'll right over to help unburden you with it. wink biggrin biggrin

Brian

-- Edited by biggaRView on Sunday 12th of April 2015 01:55:27 PM

NWescapee · RV-Dreams Family Member

We didn't set a budget, haven't done that for years. We are tracking expenses and making adjustments if we feel something is out of line. But we are NOT retired, we actually are saving aggressively for early retirement which causes our mindset to be a bit different. Instead of worrying about if we'll have enough money, we're trying to make sure we're retiring early with enough money to live on.

Our campground fees started out averaging $700/mo but with more boondocking and longer term stays over the past 6 months, we've gotten that down to about $600/mo. We're averaging $400 or less on diesel each month, other than the 2 months last year where we had long drives due to family emergencies and needing to relocate rapidly.

We do find food and eating out to be one of the categories hardest to control, we tend to eat out more if we're in weekend tourist or travel mode, so the times when we are further away from big cities, just hiking or biking, we'll spend less and then go on a binge when we're near a town with museums, gardens, or other attractions we want to visit and those almost invariably end up with a meal out.

And like Barb, we enjoy visiting wineries and we spend about half our time in WA/OR/CA and there are LOTS of wineries to choose from. We limit those purchases to the number of bottles that fit in the drawer under our fridge, refer to it as our wine cellar, once it's full we wait to visit any more wineries until we've finished those special bottles. However, that does not stop us from buying other "house" wine that gets stored under the sink. Gotta keep those priorities straight, you know.

MarkS · RV-Dreams Family Member

Wo?k??g... LOL. Whatever it takes to get past the censors!!!

I assume that some of the "budget" concerns come from the shift from a (sticks and bricks to a mobile lifestyle) or (working income to retired income) and more than likely a (known lifestyle to the unknown of traveling). My earliest budgetary learnings came from frequent moves in the military. There was stress relocating from a low cost of living area like north Florida to cape cod Massachusetts. But we always found that our spending habits morphed to the local area and our budget followed.

Most recently, I shifted from a handsome income, which my mortgage and all other choices had been designed around, to the poor house. I said we would find a bridge in a nice neighborhood to live under but instead found that we could live on quite a bit less than we were making. I found myself budgeting for new tires rather than just buying them at a whim, paying my bills on the first of the month rather than as soon as they came in the mail. Thinking more about what I spend rather than saying, if you want it, buy it. So the really cool part is, it wasn't as painful as I expected. I find that now I want the stuff I have rather than having the stuff I want. The shift has been refreshing and revitalizing. I wouldn't trade it for anything. Before, I wasn't involved in my own finances. Now I care about the money I make from the work that I do.

My point in all this is maybe to ease some of the stress of this change. It is wise and important to budget and manage your income and your spending. We all need to ensure that we do not spend willy nilly with no thought about tomorrow. But we shouldn't accelerate our aging with stress and worry about the unknown. I recommend that we throw down a best guess budget on paper, digital or natural fiber paper, head into the sunset and adjust as you go. There are as many ways to manage your income as there are colors in the spectrum. How I do mine isn't likely to work for anyone else.

My motto; spend like a drunken sailor and live the rest of the month on love! Not really, but it sure is fun to say.

-- Edited by MarkS on Sunday 12th of April 2015 11:24:22 AM

marianne57 · RV-Dreams Family Member

Thanks all....I feel a little better now. I had budgeted originally 700.00 just guesstimating so I'm not far off hopefully! Thanks!

manycats · RV-Dreams Family Member

Never budget. I keep track of monthly bills and figure out how much we have to make to cover our expenses. We are going to be stationary like Terry and pay our lot rent yearly. Have a set savings amount to pay that yearly rent and also build an emergency fund, anything left over is a bonus. Since we live a fairly simple life, if we have money available for "fun stuff" we spend, if not, we cut down and do "free stuff". It's worked for us for over many years and we haven't felt deprived.

TheNewhalls · RV-Dreams Family Member

Didn't mean to give the impression that we worry about sticking to a budget. I was just curious if anyone had a budget and was living within it. Such as setting limits for groceries or fuel and not going over it. And if they were what was the trick? We are living within our means, but not within a budget, and at the end of each month we are able to put some money away. I still keep track of our expenses just because I enjoy doing that, and it's nice to be able to see where the money goes. Keeping track of our expenses before we retired told us we could afford to sell everything and move into a motor home. It also gave us some idea of what we could expect to be spending for groceries, dining out etc. I was surprised that we spend more to eat out than in our s & b and fuel costs were a surprise. I know we spend too much for camping, but we have traveled up and down the east coast and back and forth across country to visit family and friends. I'm sure once we get that bug out of our system our costs will go down.

I agree with Hdrider and NWescapee that food and dining out are the hardest to stay on track with.

Bill and Kelly, Lee and Tracie and Red and Pam hugs to you all, see you at OBX in May.

Jake62 · RV-Dreams Family Member

I've used "budgets" for several decades, before Excel and, before all these new budget apps. I've used Excel spreadsheets and have them saved to review. However, right now, we use "Mint" which is not only free, but you can load all your accounts and Mint will track your accounts within the budget. It also helps come tax time, especially if you itemize, have your own business, or rent property.

You can pull your up budget daily to see how you're doing for the month. I know there are additional apps out there to help you track your budget but I'm satisfied with Mint. There's no right or wrong here, but simply what you decide are your priorities and how to execute them based on your income. If it was difficult budgeting while in a S&B, it will also be difficult while RVing. They have many expenses in common and the skill set is the same.

BoAndRach · RV-Dreams Family Member

Thank you so much to everyone for sharing so much financial information. This is so helpful to us as we try to plan our budget for an as yet unknown lifestyle on the road. Like someone else said, I’m trying to create our budget/expenses based on the things you share that sound similar to how we might live.

Interestingly, our guesstimated proposed expenses for full-timing total up to be just about the same as our current expenses. That was sort of surprising to me since we’ll be getting rid of the mortgage and one car payment, but carrying no debt on the RV or the truck.

I, too, need to figure out how to “stick” to the budget or, more accurately, get better at $0 budgeting. When we have money that doesn’t have an expense or savings purpose, you can bet I’ll find something to spend it on – usually dinners out, wine/beer or bike stuff :)

It’ll be interesting to see how our lives change and how our budgets change once we get out there.

Rach

-- Edited by BoAndRach on Tuesday 5th of May 2015 06:06:37 PM

Barbaraok · RV-Dreams Family Member

Just remember, you never, EVER, mention while you are in the RV that you have any extra $$$ for that month. If you do, the RV will know and something will suddenly appear that will cost not only the extra amount that you had, but usually at least twice that amount. Learn to moan and groan when in the RV about how there is nothing left. And remember, the toad or truck listen while you are out exploring, and will report back to the RV.

Barb

BoAndRach · RV-Dreams Family Member

Excellent advice, Barb. I hadn't thought about those conniving vehicles conspiring against us! They're as bad as Murphy :)

TRAILERKING · RV-Dreams Family Member

MarkS wrote:
I find that now I want the stuff I have rather than having the stuff I want.

Like that.....

BiggarView · RV-Dreams Family Member

The word "budget" has gained a negative quality through the erroneous idea that a budget is restrictive, or it won't allow you to do the things you want. The truth is it allows you to do more by teaching discipline over some less visible aspects of living. Gaining control of ones finances allows you to align your goals and aspirations with your resources and then achieve them more easily.

..as to vehicles conniving... they were the founders of the "Internet of things" before it was even thought of. How else do you explain Murphy's law... what, you thought Murphy was a real person? biggrin

Brian

-- Edited by biggaRView on Wednesday 6th of May 2015 05:00:10 AM

BoAndRach · RV-Dreams Family Member

Ha, Brian, too funny.

I actually love our budgets....nothing negative or restrictive for me. I am a total spreadsheet geek :)

As for Murphy and his conniving, conspiring little vehicular friends...well, we'll be prepared to deal with them when the time comes!

Take care!

bjoyce · RV-Dreams Family Member

Aside: I knew people who knew Ed Murphy himself, he was a real person who ended up in computer programming at a US National laboratory, I think Oak Ridge. Since I spent part of my career as a computer programmer at a US National Laboratory, Hanford, I actually dealt with his "work". The "law" is older than Murphy himself and there is a book about it,t I will leave it to those interested to do the internet searches themselves.

Keep those "rainy day funds" well stocked for those budget surprises, they can come in bursts. This year our RV repair, medical and vet costs are way over normal. Though I am starting to wonder if the RV repair cost is the new normal for us.