RV Budget – HELP!

He Said…

After all this planning… we need to figure out if we can even afford the lifestyle of a Full Time RVer.  We did this about a year ago and felt that we could.  Today we looked at and revamped our budget again after reading/watching other people’s blogs/vlogs. Now we’d like your opinion…

We know that budgets and lifestyles are unique to each family so what we have may not match what anyone else has for a budget (or your actual spending if you’re already on the road). BUT, I’d like to know if I’m missing something obvious.  So, I’m sharing this budget in hopes that I can minimize future mistakes.

RVBudget
Click on the spreadsheet to see a larger picture of this budget.

We’re planning on buying a used Class A RV with a washer/dryer in it, so the laundry item is likely not needed. And my sister has offered to take care of our mail (become our permanent home of address as it were), at least initially, so the PO Box is not needed. And a sister-in-law has offered to store any stuff we may have left over after we sell the house (which, hopefully, will be very little) and this deletes the storage unit cost.

We plan on spending a couple weeks a month boondocking and we don’t plan on travelling more than a thousand miles a month. This info drives the monthly cost of fuel and campgrounds.

Right now, we’re looking at just under $3000 a month.  With Mariel’s social security, my military retirement, and teaching a couple online courses at the college, this seems doable.

So, what do you think?  What have I missed?  Where’s my blind spot? Your help would be greatly appreciated!

 

10 thoughts on “RV Budget – HELP!

  1. Sorry have no advice as we are not on the road yet! But thanks from info as we think and prepare for a few years away yet! Best
    Of luck and enjoy yourselves!

  2. I do not see any healthcare/insurance in your budget. We start full timing September 1 of this year. I will share our real costs with you. Your spreadsheet gives us a good template. Our goal is to do a lot of boondocking to save money for the entertainment budget.

    1. I thought about that last night after I went to bed. I should have let everyone know that, since I’m retired military, I have free health insurance.

  3. We are figuring $3,000 a month on average for our style of travel. Although I’ve not prepared a detailed budget, for planning purposes I’m using what a couple trusted sources used as their average. Healthcare cost is the really “unknown” for us. As we are not leaving until maybe 2019 I added a percentage for inflation at 2.5% each year which is on top of the $3,000. Also, don’t forget applicable taxes on your “earned income.”

    Here are a couple of actual yearly expenses from two sources I trust:

    •RV-Dreams: Averaged $31,635 a year, $20,260 with workamping and $34,456 traveling. They live full-time in a 5th wheel and own an extra vehicle. Based on eight years of data.

    •Kirk and Pam’s RV Adventure: Averaged $34,588. They did a lot of volunteering to reduce cost and traveled in a motorhome with a toad. Based on five years of data.

    Here is a link to my blog post for more details: https://ourfutureinanrv.wordpress.com/2014/10/23/our-financial-preperation-part-2-expected-income-and-expenses-for-fulltiming/

    I’ve got a couple changes to make on my post but it gives you an idea of we expect to be our income and expenses.

    1. Based upon those two actual costs, looks like Mariel and I are real close.

      We too will be boondocking, volunteering (via Nomads) to cut back on expenses.

  4. Just got my first rig, not full running yet, but looking towards it down the line. Will follow and keep up with you all. Clearly healthcare seems to be the big thing, but I’ll look and see if I can offer up any ideas. Excited for your journey!

    1. Thankfully, paying for healthcare isn’t a big issue for us since I’m retired Navy and get it for free. Just need to have an emergency fund for the few hundred dollars of deductible.

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