My home financing 2025 is bursting against reality

Wonderful turn everything inside out

Update Step 2 We will keep a household budget book for 1 month starting February 1, 2025, to see where the biggest expenses go and to adjust some levers. We want to try it together and pull in the same direction. Everything, really all cost items, are up for reconsideration and will be reviewed. Example Netflix Vacations etc. Restaurants Travel costs Club memberships Insurances Cars Etc.

Also remember to switch the expensive mineral water to the inexpensive tap water or at least do a cost comparison. I see a significant savings potential here – especially if you give up cola, the consumption of mineral water will increase anyway.

We will keep a household budget starting February 1, 2025, for 1 month to see where the biggest expenses go and to adjust some settings.

1 month is not enough, it should be at least 6 months, better 1 year, then you have all seasons included.

It should be kept for at least one year. It can also be fun.

It should be conducted for at least one year. That can also be fun.

I would even go for 3 years, then you can derive a trend from it.

Basically, the longer, the more accurate and the clearer the trend becomes.

For the first rough overview, you can also look at the bank statement from the last two years and write down the fixed costs. Then try to assign variable card payments/debits to the individual categories. Usually, you can roughly tell whether they are for [gas/fuel]/supermarkets/discount stores/cinema/vacation, etc. That already helps a lot. Then, usually only cash payments remain, which in our case mainly concern the [canteen/bakery] etc., meaning food.

You then continue this with current values and can, despite a "fresh" household budget, possibly already see trends or recognize results of cuts.

However, if one has to make dramatic cuts in food/drinks in order to afford a house, then, from my point of view, something is wrong. Especially if there are still plenty of assets in the form of real estate.