Food for Thought - Budgeting

  • A good exercise for comparison is to figure out how much it costs you per night to live in your home. This gives you something to compare to the cost of living on the road. Your lodging cost will be:
    • Monthly payment divided by 30 (add property tax and insurance if not included), plus
    • Average Water/Sewer, Electric, Gas, Cable/Internet, plus
    • HOA fees
  • Pay as many things annually as possible.
  • Lodging. This expense is the highest variable with prices ranging as low as free and high as $200 per night and more. Your overnight expenses can be reduced by:
    • Camping Club Memberships. See Living on the Road.
    • Boondocking
    • Overnight stops at Rest Areas, fuel stops, Walmart parking lots, casinos, wineries, or Fraternal organizations.
    • RV Resorts. Purchase an RV lot in a resort for long-term stays (i.e. summer and/or winter). While this is expensive up front, you effectively eliminate your nightly cost for budgeting.
  • Fuel costs. Also a variable, but barring a national crisis they are relatively predictable. The costs listed in the Sample Budget are actual costs based on our experience with our 2016 Ford 6.7 diesel. For comparison purposes, we've been keeping records since April 2017 and here is our data:
    • Average price paid - $2.82/gal
    • Highest price paid - $4.89/gal (Yosemite Lakes, CA, June 2019)
    • Lowest price paid - $1.75/gal (Springdale, AR, June 2020)
    • Cost per mile (towing) - $0.29
    • Cost per mile (not towing) - $0.19
  • Vehicle maintenance is based on our actual mileage and expenses at approximately 30,000 miles per year. I change oil every 5,000 miles, fuel filters every 15,000 miles, and air filter every 40,000 miles:
    • Lube, oil, filter @ $820/yr/12 = $70/mo
    • Fuel/air filters @ $150/yr/12 = $15/mo
    • Misc (brakes, etc.) @ $150/yr/12 = $15/mo
    • Tires every three years @ $2,000 = $700/yr
  • Entertainment expenses include normal entertainment options, but also admission fees (museums, National/State Parks, attractions, etc.), and equipment rentals (bikes, kayaks, boats, etc.)
  • Cell phone and internet options. There are many, many options and covered in more detail under Staying Connected.