Imagine having a mortgage of 900 to 1000 a month on top of your regular expenses. You would have to generate an extra 1200 to 1300 gross income to pay the mortgage each month. Mortgage free really takes the pressure off. That’s a huge benefit !
I really don't understand people who complain about property taxes. These people use the very services property taxes pay for--garbage removal, snow removal, maintainence of public parks/spaces, public school, free public library, emergency services, etc. Yet not a single one is ever ready to be their own garbage man, school teacher, firefighter, or hone their own road in front of their house. Property taxes aren't perfect, but they are cheaper than privately paying for all these services ad hoc. You're doing great, Jeremy! and being mortgage free is a definite goal of mine. Hearing/seeing you live debt free keeps me encouraged.
Yes! One thing I’ve noticed, higher property taxes usually means great public schools, parks and events. I’ve lived in high and low property tax areas and the low ones skimp on the community perks. If you don’t care about great parks and community events then low property tax is for you. I’m someone that enjoys having a community feel that’s not just church related.
Thank you so much. We recently became mortgage free, no debt. We lived on half our income for years. I’m now trying to see what we can comfortably live on. I was thinking $2600 a month here in Arkansas. We own a 40 acre ranch with one Airbnb, and lots of animals. This was super helpful. I feel our bills are similar.
Great video thanks Jereme. I never thought of having community as entertainment but now realise that is my favourite form of entertainment. Since my kids were small we’ve hosted weekly in rotation tea and cake and melon and carrot sticks!! with a group of Mams. The kids all came too and there was someone for everyone to play with. We are all the type to volunteer to help out in our area and apart from one lady are in the same church. This has been such a huge blessing for me. The older kids are in university now but as we are from Dublin, Ireland they still mostly live at home as rents are crazy here. We are all in a book club together where we eventually talk about the book! and we started a film club a couple of years ago to include husbands if they wanted to come, film choice not discussed until we get to the house that’s hosting. This community has been such a support to all of us as we face so many ups and downs in our lives and good to build from when kids are small even going to parent and toddler groups. Regarding costs, things seem pretty similar to me here, but 1000sq feet is a normal sized house here and not small. My property tax is €350 for a year, car insurance €50 a month, internet €60, Gas and electricity combined average €200 per month and rising! food and diesel are getting more expensive €150 a week for food not including eating out and petrol is over €2 a litre😱 diesel is €1.76 as examples. More and more people are driving electric and hybrid cars but we don’t have the same distances to travel as in America.
Friends/Family are the best form of entertainment! lol Love that you have a rotating weekly community! It's rare these days. Wow your property tax is low!
Wow I must say that is way more than I expected!! I would have thought your monthly expenses would have been half of that. Given you are debt free. Always pleased to hear people have worked to become mortgage free....way to go!
This helped me a lot. TY. I could pay off my mortgage, today. But, I would be emptying out my home repair and improvement fund to cover new AC, major repairs, improvements, etc. It would take too long to build that sum back up. The dilemma I'm in is being pulled three different directions at the same time. One, to build up funds for home improvement and this is considered also in the major repair fund. Two to pay off the mortgage. Three to build up to my FIRE number. I am closest to my FIRE number, even though monetarily the pay off of the mortgage is less than the additional I need to have to reach FIRE. When you consider that the growth of my portfolio is around 9.8% on average I have devoted most of my financial energy to FIRE. I do pay down my mortgage, but it is not a tremendous amount in comparison.
Happy belated birthday Jereme! Can I say, gas is RIDICULOUS. I live in northern illinois (60 miles west of chicago) and our gas went up 30 cents overnight and has kept creeping up over the past week- we are at $4.60/gallon. I REALLY appreciate how you are in this healthy zone where you don’t overspend but you aren’t “frugal to a fault”. I dislike watching people who are so frugal they waste time and energy getting something for 10cents less. Life is too precious to waste it looking for the “best” deal most times. I LOVE your channel. I think what you are spending for monthly living is pretty awesome; we pay $4k In property taxes alone (hurts just to type that) would love to explore Michigan more for possible living; we’ve only visited Sturgis and it’s not the town for us lol. God bless you and your family my friend.
Thank you for sharing Jereme! This is definitely helpful to learn about. I guess my husband would have to continue to work if we are mortgage free. The plus about being mortgage free is that you can still control some of the other expenses such as eating out, groceries, etc so if someone wants to they can lower their expenses even more.
Metro Detroit (within an hour or 2 drive of Detroit) is a million times more than northern MI. Also, Michigan is on the high side compared to the other 50 states. My home in Michigan is 5500$ a year for property taxes. I pay 500$ a month for insurance and taxes on my home. Our water bill (hilarious being surrounded by water) is 99$ a MONTH. We pay to maintain all the lakes.
Can you maybe share about how you earn a living to live a more relaxed life? Flexible life? Hours you work per week and how much free time that gives you to be with your family.
That's pretty good. We spend around $3,500 a month living debt+mortgage free. We are a family of four and that budget includes 1-2 nice vacations a year.
I'd thought I'd share our mortgage-free expenses in Omaha, NE. $130.66 home owner's insurance, $93.66 property taxes, $87.99 internet, $99.98 two cell phones, $111 natural gas and water, $121 electricity, $600 groceries and household, $64.48 for two car's insurance, $150 for gas, $300 for dining out/entertainment, $500 medical and $400 pets. Total $2720.78 month. Our health insurance and life insurance is taken out of our checks, the $500 is for out of pocket medical expenses as we have a high-deductible plan and my husband sees a cardiologist. Pet expenses are high due to a large dog with allergies and two other aging dogs.
I’m in the San Francisco Bay Area I pay roughly $550 a month $6600 a year for a small 1400 sq foot home😬😬so $95 sounds pretty good to me for property tax…. Sounds like you guys are doing pretty 👍🏻 good.
Just thank God that you don’t live in South Florida. I am an insurance gent here, and it’s bananas! $3500 to $6000+ for homeowners insurance here! And rents are so high too! 🥺
I love your videos thank you. As an overly cautious mother of 4 just wondering are you planning on making your stairs safer for your little one as they seem wide open and it makes me nervous. It may take awhile to find a tradesperson to do it so I’m not critical of you in the slightest but just more nervous than most about these things.
Jereme, when you said food was a non essential expense, you kind of lost me. Unless you mean eating out, which can be cut down, but is very hard to cut out completely. If it's part of your social life with friends, and if both people in the relationship work full time, and or travel a lot, it is way more realistic to budget for eating out. But food is fuel, and is ABSOLUTELY essential.
sorry Rachel, I meant to say eating out at the beginning! In the actual breakdown I talk about groceries as an essential and eating out as non-essential.
@@gojereme Got it!! Thanks for clarifying. And just a compliment if I may. I love the videos that you and Grace make. I talk to AMEX business card holders over the phone for my job and I've recommended a few of them to check out your channel. You guys give some great tips!! 💯
Thats awesome. We just paid off our house last year. I cut my own hair. Heat/Cool with electricity, Which is generated with solar panels. We will be getting an electric vehicle soon & all yard equipment is battery operated. Soon, we will never have to visit a gas station.
Start putting money away in your hsa and invest it.. but don’t use it.. use regular budget money.. let it accumulate.. max for a family..7300$ a year.. times that by 12% for 10 years.. would make it 100k and you’ll be able to use the interest.. not the principle to pay your bills. So you’ll technically never have to pay for medical bills again! Look forward, not always day by day
Hsa-health savings account… pre tax money used to save for health expenses… allowed 7300 per year per family, unfortunately only 9% of Americans even invest their hsa.. the rest put theirs in cash
@@bigdogbill8988 thank you I have an hsa but didn’t understand what you meant by investing in it since I always deplete it to pay for my medical and dental expenses
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
Imagine having a mortgage of 900 to 1000 a month on top of your regular expenses. You would have to generate an extra 1200 to 1300 gross income to pay the mortgage each month. Mortgage free really takes the pressure off. That’s a huge benefit !
I really don't understand people who complain about property taxes. These people use the very services property taxes pay for--garbage removal, snow removal, maintainence of public parks/spaces, public school, free public library, emergency services, etc. Yet not a single one is ever ready to be their own garbage man, school teacher, firefighter, or hone their own road in front of their house. Property taxes aren't perfect, but they are cheaper than privately paying for all these services ad hoc.
You're doing great, Jeremy! and being mortgage free is a definite goal of mine. Hearing/seeing you live debt free keeps me encouraged.
Yes! One thing I’ve noticed, higher property taxes usually means great public schools, parks and events. I’ve lived in high and low property tax areas and the low ones skimp on the community perks. If you don’t care about great parks and community events then low property tax is for you. I’m someone that enjoys having a community feel that’s not just church related.
Fabulous Jereme and family! Keep going! My husband is a family budget counselor and is encouraged by your goals and efforts. You go!
Thank you so much. We recently became mortgage free, no debt. We lived on half our income for years. I’m now trying to see what we can comfortably live on. I was thinking $2600 a month here in Arkansas. We own a 40 acre ranch with one Airbnb, and lots of animals. This was super helpful. I feel our bills are similar.
Great video thanks Jereme. I never thought of having community as entertainment but now realise that is my favourite form of entertainment. Since my kids were small we’ve hosted weekly in rotation tea and cake and melon and carrot sticks!! with a group of Mams. The kids all came too and there was someone for everyone to play with. We are all the type to volunteer to help out in our area and apart from one lady are in the same church. This has been such a huge blessing for me. The older kids are in university now but as we are from Dublin, Ireland they still mostly live at home as rents are crazy here. We are all in a book club together where we eventually talk about the book! and we started a film club a couple of years ago to include husbands if they wanted to come, film choice not discussed until we get to the house that’s hosting. This community has been such a support to all of us as we face so many ups and downs in our lives and good to build from when kids are small even going to parent and toddler groups.
Regarding costs, things seem pretty similar to me here, but 1000sq feet is a normal sized house here and not small. My property tax is €350 for a year, car insurance €50 a month, internet €60, Gas and electricity combined average €200 per month and rising! food and diesel are getting more expensive €150 a week for food not including eating out and petrol is over €2 a litre😱 diesel is €1.76 as examples. More and more people are driving electric and hybrid cars but we don’t have the same distances to travel as in America.
Friends/Family are the best form of entertainment! lol Love that you have a rotating weekly community! It's rare these days.
Wow your property tax is low!
Your expenses are very in line with a good life. Congrats! Plus you are really building community which is great support for your family.
Thanks Nina! Really feel blessed. Community building is definitely a priority and really fulfilling!
Wow I must say that is way more than I expected!! I would have thought your monthly expenses would have been half of that. Given you are debt free. Always pleased to hear people have worked to become mortgage free....way to go!
I love it so far in Indy. I'm close to Michigan. I enjoy it here. I'm excited abt the new town I purchased my home
This helped me a lot. TY. I could pay off my mortgage, today. But, I would be emptying out my home repair and improvement fund to cover new AC, major repairs, improvements, etc. It would take too long to build that sum back up. The dilemma I'm in is being pulled three different directions at the same time. One, to build up funds for home improvement and this is considered also in the major repair fund. Two to pay off the mortgage. Three to build up to my FIRE number. I am closest to my FIRE number, even though monetarily the pay off of the mortgage is less than the additional I need to have to reach FIRE. When you consider that the growth of my portfolio is around 9.8% on average I have devoted most of my financial energy to FIRE. I do pay down my mortgage, but it is not a tremendous amount in comparison.
Fire is 80 percent of my expense 10 percent is bills and 10 percent is my savings my wife does 80 percent bills 10 percent food and 10 percent saving
Happy belated birthday Jereme! Can I say, gas is RIDICULOUS. I live in northern illinois (60 miles west of chicago) and our gas went up 30 cents overnight and has kept creeping up over the past week- we are at $4.60/gallon. I REALLY appreciate how you are in this healthy zone where you don’t overspend but you aren’t “frugal to a fault”. I dislike watching people who are so frugal they waste time and energy getting something for 10cents less. Life is too precious to waste it looking for the “best” deal most times. I LOVE your channel. I think what you are spending for monthly living is pretty awesome; we pay $4k In property taxes alone (hurts just to type that) would love to explore Michigan more for possible living; we’ve only visited Sturgis and it’s not the town for us lol. God bless you and your family my friend.
Dang, in Ontario, I pay $300 bucks a month in property taxes and $150 in home insurance. My home is 1150 square feet. Yours is so cheap!!
Thank you for sharing Jereme! This is definitely helpful to learn about. I guess my husband would have to continue to work if we are mortgage free. The plus about being mortgage free is that you can still control some of the other expenses such as eating out, groceries, etc so if someone wants to they can lower their expenses even more.
Metro Detroit (within an hour or 2 drive of Detroit) is a million times more than northern MI. Also, Michigan is on the high side compared to the other 50 states.
My home in Michigan is 5500$ a year for property taxes. I pay 500$ a month for insurance and taxes on my home. Our water bill (hilarious being surrounded by water) is 99$ a MONTH. We pay to maintain all the lakes.
Can you maybe share about how you earn a living to live a more relaxed life? Flexible life? Hours you work per week and how much free time that gives you to be with your family.
Just stumbled on your channel. What part of Michigan? My wife and I have been on the hunt for somewhere new.
Thanks for the transparency! 🙏
It’s definitely more than I expected, but hey, it’s your life and if you guys can afford it, it’s all that matters 🌺🌸🌼
Happy birthday man..
Thanks! 🙏🏽
We switched to Mint Mobile and have been saving $$ on our phone bills.
I tried switching to Visible - Verizon’s - prepaid plan like mint, but the service just wasn’t that great data wise. So I switched back to Tmobile.
@@gojereme mint uses tmobile’s towers
what do you do for health insurance?
Check out the healthcare.gov marketplace!
That's pretty good. We spend around $3,500 a month living debt+mortgage free. We are a family of four and that budget includes 1-2 nice vacations a year.
Wow, impressive for a fam of 4 :)
Congrats. Family of 4 here too. I’m 6 years out from where you are at. Glad to hear it can be done with a family
I'd thought I'd share our mortgage-free expenses in Omaha, NE. $130.66 home owner's insurance, $93.66 property taxes, $87.99 internet, $99.98 two cell phones, $111 natural gas and water, $121 electricity, $600 groceries and household, $64.48 for two car's insurance, $150 for gas, $300 for dining out/entertainment, $500 medical and $400 pets. Total $2720.78 month. Our health insurance and life insurance is taken out of our checks, the $500 is for out of pocket medical expenses as we have a high-deductible plan and my husband sees a cardiologist. Pet expenses are high due to a large dog with allergies and two other aging dogs.
How many people in the household ?
Thanks for sharing! Property taxes are low in Nebraska!
Wow your property tax + your home insurance for a year is my rent for one month! In Las Vegas
Good video! My family and I plan on moving to Arizona
Haha! Yea, I was about to pay 1500 for a one bedroom apartment back in Portland, OR. Probably more now.
Happy Birthday, Jereme! 🥳
Thanks Leslie!
Happy birthday Jereme! Really digging your videos 🥰
Bytheway, the results are higher than I expected!
Thanks so much Jacq!!
All of our expenses each month is 4,300 and that’s before inflation. I don’t want to see how much it is lately.
Thank you, Jereme!
What health insurance plan is charging you $100 a month? That's good
SWEET, a new video!!!
$55 a month on T-Mobile for both of you all?? Man I’m getting ripped off paying double that for 2 people on the same carrier.
Try the business plan if u have a side hustle or add family members and have them pay you to reduce cost.
Definitely an off topic question, but would you share what denomination y’all are? Feel free to keep it private 😊
Hi Vanessa, we are Pentecostal/Apostolic! If you are looking for a similar church, use this www.upci.org/resources/locate-a-church
I’m in the San Francisco Bay Area I pay roughly $550 a month $6600 a year for a small 1400 sq foot home😬😬so $95 sounds pretty good to me for property tax…. Sounds like you guys are doing pretty 👍🏻 good.
Hey but you are in the most expensive city in the US! lol
$550 for what? Your mortgage?
Just thank God that you don’t live in South Florida. I am an insurance gent here, and it’s bananas! $3500 to $6000+ for homeowners insurance here! And rents are so high too! 🥺
Im thinking about getting a mobile home too... it doesnt look bad
What company do you use for home insurance!
Try using the Larkin Group broker if you are in Michigan.
The family game nights are legit😂😂
Happy belated birthday!
Thank you!!
I love your videos thank you. As an overly cautious mother of 4 just wondering are you planning on making your stairs safer for your little one as they seem wide open and it makes me nervous. It may take awhile to find a tradesperson to do it so I’m not critical of you in the slightest but just more nervous than most about these things.
All of our budgeted expenses minus our rent comes to $2,275 so that would be spot on for us!
cool, about the same!
Jereme, when you said food was a non essential expense, you kind of lost me. Unless you mean eating out, which can be cut down, but is very hard to cut out completely. If it's part of your social life with friends, and if both people in the relationship work full time, and or travel a lot, it is way more realistic to budget for eating out. But food is fuel, and is ABSOLUTELY essential.
sorry Rachel, I meant to say eating out at the beginning! In the actual breakdown I talk about groceries as an essential and eating out as non-essential.
@@gojereme Got it!! Thanks for clarifying. And just a compliment if I may. I love the videos that you and Grace make. I talk to AMEX business card holders over the phone for my job and I've recommended a few of them to check out your channel. You guys give some great tips!! 💯
Thats awesome. We just paid off our house last year. I cut my own hair. Heat/Cool with electricity, Which is generated with solar panels. We will be getting an electric vehicle soon & all yard equipment is battery operated. Soon, we will never have to visit a gas station.
Congrats! Yea, electric vehicles sound real nice right about now. lol
what city are you in in Michigan?
Tri-cities Michigan
$100 a month for her shopping isn’t bad at all.
yea, not at all!
Start putting money away in your hsa and invest it.. but don’t use it.. use regular budget money.. let it accumulate.. max for a family..7300$ a year.. times that by 12% for 10 years.. would make it 100k and you’ll be able to use the interest.. not the principle to pay your bills. So you’ll technically never have to pay for medical bills again! Look forward, not always day by day
What’s an hsa?
Hsa-health savings account… pre tax money used to save for health expenses… allowed 7300 per year per family, unfortunately only 9% of Americans even invest their hsa.. the rest put theirs in cash
@@bigdogbill8988 thank you I have an hsa but didn’t understand what you meant by investing in it since I always deplete it to pay for my medical and dental expenses
😂😂😂😂$500 stroller
They are debt free, they Can do AS they please
Thats cool..but maybe its time to progress
Karen's🤣🤣🤦♂️
@jerme vasquez I think mom's a karen