Yearly Income Analysis

First of the month always means payday for me.

First month of the year also means updates tax codes, W-2 (Jahresgehaltsbeschenigung), etc.

Percentage wise....

I paid 20.8% of my yearly income into the German Social System (including health care).

I paid 15.9 % of my yearly income to my landlord for my 42sq meter apartment.

I paid 16.3% (approximate) of my yearly income to creditors (student loan & credit card).

I paid 11.3% (approximate) of my yearly income to various grocery stores/restaurants/bars.

I paid 9.3% (approximate) of my yearly income to travel related costs (flights, hotels/hostels, rental cars).

I paid 4.7% (approximate) of my yearly income to telecommunication costs (cell, internet, VoiP).

I paid 2.9% of my yearly income to my fitness club.

I contributed about .08% of my yearly income to my savings account. I paid an equal amount to the German media tax (Gebühreneinzugszentrale).

That leaves approximately 17.2% of my yearly income for other disposable means.

Suppose that we provide my numbers listed as 'approximate' with a 4% +/- margin of error. That would then leave me with approximately 13 % of my income for other things.

Other things may include (but not limited to):
-Home decor (I invested at least €400).
-Magazines/other forms of media
-Gifts
-Clothing
-Daily items (contacts, toothbrush, paste, aspirin)
-Bus fare & parking fees not covered by work
-Fees (bank, visa/passport fees, etc)
-Personal care (haircut, medical co-pay, etc)

Points to consider:
I am considerably under the average for housing costs (by about 50%).
I'm approximately 2% under the US national average for food/beverage costs.
Personal savings contributions were way too low. Inflation in the Eurozone peaked at nearly 4% in autumn 2008 this was tied to extensively higher energy prices. Currency conversion rates between USD, EUR and GBP (all currencies used in 2008).

Prediction for 2009:
I foresee a slight decrease in contributions to creditors as debts are paid off. Communications (cell phone) will reduce by about 25% as I've reduced my mobile calling plan in Germany. Inflation in the Eurozone is expected to decrease as central banks continue to slash rates. Lower energy prices will lead to hopefully lower food costs, etc. I am expecting a major change in location (cost will depend on end location). I have no reason to expect a substantial change in salary levels (perhaps slight increase) through August. I have opened a savings account in Germany and plan to contribute to both German and American accounts with more frequency.

I'm really happy I spent the last hour doing this. Now I think I am better financially prepared for 2009. I recommend you doing the same.