What is your largest expense?

[MChat]

Talking with my wife this morning and she made the statement that most Americans don't know what their largest expense is.

Curious to see the answers here, as I think a larger % than the national average might have more of a clue when it comes to their finances.

 

[ApeEater]

mortgage payment, by far.

 

[WLDWUN]

the wife's credit card
but that includes food, gas clothing etc.

next would be daughters' college expenses

no mortgage payment

 

[Bebop]

Mortgage, by far.

 

[bigun]

After space rent it varies from month to month

 

[det107]

Found the hard boiled fedboi... Don't fall for this bait-

 

[jeeptj19992001]

Food / grocery,
Property taxes,
Then
Truck
Mortgage is paid off.

 

[Void_of_Light]

Taxes

 

[bgaidan]

Taxes

Bingo.

 

[bad zuki]

All of the .gov programs my taxes pay for....

 

[Levigarrett76]

Taxes or Children, hard to accurately quantify them when taking the future into account.

 

[MChat]

Taxes

It only took 7 replies to get to the (more often than not) correct answer for most Americans.

When you lump together all of the taxes we pay (including property, sales and "at the pump" fuel taxes) taxes are by far the largest expense of most Americans (larger than mortgage/rent) and most Americans never even think about it or realize it.

Add in employer paid taxes (on the employee's behalf) and its even worse.

 

[JNHEscher]

Wife. Ahem. Wife's credit card. She tells me it's $800 or $900ish/mo. Fuel cost per month is a close tie.

 

[MChat]

Found the hard boiled fedboi... Don't fall for this bait-

 

[JR4X]

Race car. Then rent. Rent is 1425 a mo but I spend a couple thousand a month every month on race cars and related BS.

Edit: I’m also your resident IBB bad with money S.I.N.K

 

[Norm]

Taxes by a large large large margin.

 

[Slander]

Taxes in all their forms (income, SS, sales, Medicaid included), then followed by the monthly CC bill (we put everything on the card and pay it off monthly), then mortgage.

 

[Deuce 40s]

Renovations are our biggest expense on a cheap mortgage. We spend/save 4k a month in renovations depending on our current projects.

We charged $175k on the credit card last year.

 

[75cruisin]

Me being stupid. And owning vehicles. If I was more boring Id be a lot richer.

 

[arse_sidewards]

Taxes in all their forms (income, SS, sales, Medicaid included), then followed by the monthly CC bill (we put everything on the card and pay it off monthly), then mortgage.

Just fed income tax is close to 2x my mortgage.

 

[Roc Doc]

Taxes, then mortgage, but soon to be taxes, then medical insurance, or maybe hand loading expenses.

 

[Void_of_Light]

Just fed income tax is close to 2x my mortgage.

And remember, you pay the taxes for every company you do business with. The true cost of taxes is probably closer to 75% of everything you make.

 

[KungFooMASTA]

Hookers and blow

 

[Dethmachinefab]

Income tax is the biggest number, followed by property tax.

 

[JNHEscher]

Can't remember wife's income tax amount. That just might tip the scale, although she makes considerably less in the same career here in MO than she did in CO.

 

[KarlVP]

My kids.

My youngest daughter is into horses. I'm a horse dad. The horses have won. Enough said.

Just stating facts, not complaining at all.

 

[Clb]

living in the prk
Really just day to day expenses, mortgage is paid off, cc bill is month to month.
So I would say Gavin Screwsome
Did I mention
FUEL?

 

[Aggie06]

Taxes, followed by business expenses, then the mortgage.

 

[grumpy356]

If you break apart my mortgage, I would say TAXES are by far my biggest expense.

(Sales / property / income / fuel / sin/ permits / tolls, and on and on...

The largest SINGLE expense would be mortgage
and the property Tax portion would be the Second.

 

[Slander]

Just fed income tax is close to 2x my mortgage.

Oue household fed income taxes alone, not including state, is 2.5x's my mortgage. Fucking bullshit