Family budget if your income is around $180-200K

[Anonymous]

Okay, I'll play too:
1 full time job, 1 SAHP, 3 children

Monthly income (after tax, HSA, retirement)- 11,000

Mortgage- 2186
Utilities (gas, electric, water, netflix, internet)- 300
cell phones- 130
Car payment/gas/insurance- 600 (one car paid off)
Insurances (disability and life)- 350
Groceries- 1200
Gym- 100
housekeeper- 240
shopping (clothes, gifts, household items)- 500
eating out- 300
babysitter- 400
charity- 500
preschool- 220
personal care (haircuts, waxing, color)- 220
kids activities (baseball, soccer, camps)- 100
student loans- 2,000 *trying to pay off quickly*

That leaves about $1,500 that we earmark for savings, but usually gets eaten up by some household expense or extra need for clothing, gifts, vacations, etc. We are working on being more mindful about holes in our budget so that this money isnt up in the air each month.

[Anonymous]

$10200 take home (after taxes, 401k, health, parking)

$3500 Mortgage
$900 Groceries (incl. dog food, paper goods, alcohol)
$300 Eating out/coffee shops
$500 Utilities (gas, elec., water, cell, internet, cable)
$200 Gas/car insurance
$50 Life insurance
$2000 Childcare for 2 kids
$200 Kids activities & entertainment
$50 Gym membership
$100 Hair cuts/personal care/toiletries
$250 Shopping & gifts
$200 House maintenance
$200 House cleaner
$300 Earmarked for travel
$100 Earmarked for dog (vet or boarding needs)
$500 IRA
$500 529s
------
$9750 (usually have this extra ~$450 for regular savings/bigger needs)

[Anonymous]

175K HHI, DINKs

We average 8500/month after taxes, health insurance (~250/month), retirement contributions (~1700/month), union dues (honestly, don't know my guess is 30-40/month), and the office gym (~35/month)

mortgage: 2300 PITI
student loans: 840
home decor: 750
groceries: 500 (vegetarian, mostly organic and local food, cook most meals at home from scratch, pack lunch)
transportation: 290 (MARC, metro, gas, parking)
utilities: 200 (does not include internet, which is provided by my husband's work, or cable, which we don't pay for beyond netflix/Amazon Prime)
home supplies: 200 (the toilet paper, paper towels, Amazon Prime etc.)
personal care: 200 (Mostly my monthly massage, but also includes makeup and skin care.)
insurance: 150 (life, car)
clothing: 140 (capped at 2500/year)
gym: 130 (yoga studio, LA Fitness)
entertainment: 100 (includes Netflix)
cell phones: 90
cat: 75
dining out: 65

So far this year, our expenditures have averaged 6K/month. The savings go to irregular expenses (medical, gifts, charity, car and home maintenence and travel) as they come up. We make our charitable donations in November. We give large donations ($500+) to local charities that provide essential services to those in need (think Capital Area Food Bank, Legal Aid, etc); smaller donations ($100 or so) to neighborhood charities, arts organizations, and charities our friends run; and nominal donations($10-$50) to our alma maters and friends who ask us for donations.

We begin each year with a meeting on our financial priorities for the upcoming year and develop a monthly budget accordingly. This year, we're prioritizing decorating the home we bought last year. In previous years we've prioritized international travel (spent 6K), saving for a down payment (around 30-35K, as we only put 5% down because we were rushing to buy while we could still afford the neighborhood we wanted to be in), building professional wardrobes after grad school, and saving for furniture (spent 10k) after renting a furnished apartment.

We track our spending pretty closely as that's the only way I've found that we know where our money is going. And it's so easy to spend more money on certain categories (clothing, eating out, groceries, entertainment) than we're okay with. The one area I want to spend less in is groceries - I think we should spend closer to 400, but it's so easy to stock up on pantry items that just sit there. But we do consider healthy food (and gyms and massages) an investment in our health.

[Anonymous]

Anonymous wrote:175K HHI, DINKs

We average 8500/month after taxes, health insurance (~250/month), retirement contributions (~1700/month), union dues (honestly, don't know my guess is 30-40/month), and the office gym (~35/month)

mortgage: 2300 PITI
student loans: 840
home decor: 750
groceries: 500 (vegetarian, mostly organic and local food, cook most meals at home from scratch, pack lunch)
transportation: 290 (MARC, metro, gas, parking)
utilities: 200 (does not include internet, which is provided by my husband's work, or cable, which we don't pay for beyond netflix/Amazon Prime)
home supplies: 200 (the toilet paper, paper towels, Amazon Prime etc.)
personal care: 200 (Mostly my monthly massage, but also includes makeup and skin care.)
insurance: 150 (life, car)
clothing: 140 (capped at 2500/year)
gym: 130 (yoga studio, LA Fitness)
entertainment: 100 (includes Netflix)
cell phones: 90
cat: 75
dining out: 65

So far this year, our expenditures have averaged 6K/month. The savings go to irregular expenses (medical, gifts, charity, car and home maintenence and travel) as they come up. We make our charitable donations in November. We give large donations ($500+) to local charities that provide essential services to those in need (think Capital Area Food Bank, Legal Aid, etc); smaller donations ($100 or so) to neighborhood charities, arts organizations, and charities our friends run; and nominal donations($10-$50) to our alma maters and friends who ask us for donations.

We begin each year with a meeting on our financial priorities for the upcoming year and develop a monthly budget accordingly. This year, we're prioritizing decorating the home we bought last year. In previous years we've prioritized international travel (spent 6K), saving for a down payment (around 30-35K, as we only put 5% down because we were rushing to buy while we could still afford the neighborhood we wanted to be in), building professional wardrobes after grad school, and saving for furniture (spent 10k) after renting a furnished apartment.

We track our spending pretty closely as that's the only way I've found that we know where our money is going. And it's so easy to spend more money on certain categories (clothing, eating out, groceries, entertainment) than we're okay with. The one area I want to spend less in is groceries - I think we should spend closer to 400, but it's so easy to stock up on pantry items that just sit there. But we do consider healthy food (and gyms and massages) an investment in our health.

Can I have your life?

[Anonymous]

Anonymous wrote:We are at about $200k - 15% for 401k

Net about $10k

Mortgage $3600
Aftercare $400
Food $800
Savings $2000-2500
College $500
Activities/camps/insurance/vacations $815
Utilities $300
Misc $1000
Internet $77
Phones $100
Gas $150

I am sure I am forgetting something

Interesting. Our gross is 480 but our net is about 18500. Having no mortgage interest to deduct really hurts our taxes.

[Anonymous]

Anonymous wrote:LMAO. "Poor." We make $141K pre-tax. DH puts 11% of his $101K salary into his 401K and I don't save anything out of my $40K salary because I only work to pay for private school and groceries.

Mortgage is $950/month.
Healthcare, I think is about $400/month.
Childcare is $200/month.
Tuition for private school is $1600/month.
Groceries are $1200/month.
Phones (all mobile) are $180/month.
Internet $60/month
Gas is $400/month (we commute)
No gym, no car payments (both cars are luxury cars but are ten years old, bought new back then), no credit card debt or student loans. We're not saving for college; that's why they go to private school, so they can earn scholarships. We'd be comfortable paying the same tuition we do now or even a bit more when the time comes, but if they want to go to a $50K/yr school, they're going to have to help pay for it.

We shop and go out some but don't really keep track. We haven't taken a real vacation in 7 years but will be taking one this summer. We're not rich or anything but I think we're doing okay.

WAY TO GO on the $950/month mortgage! When did you buy? Ours is $1100/month but we pay $1500 to pay extra each month. Bought our house in Petworth in 2001. Mortgage is for $100K more than we paid for the house due to all the renovations over the years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My parents are ~ 30 south of Willmington and ~30 miles north of Myrtle Beach. So we have a beach "vacation" that costs less than a normal week at home since gas used is cheaper than groceries my parents insist on buying. There is a cost though, no real recharging.

Not everyone has parents who live in vacation places (or for that matter, who can be visited at all).

That is true. My point was that it wasn't a restful recharging sort of vacation.

Our solution was to buy property in St Croix.

I love that island! May I ask which part you bought in? Do you rent it when you don't go there?

[Anonymous]

Amazing. I was trying to think in categories. I can't. I only know rent (plan on leaving the area, don't want to buy). The rest is mystery. I only check if savings/investments are on target, has to be around 50%+ of before tax income.

[Anonymous]

Our HHI was $167K up until March. Now, its $197K, but we are puttting the extra money towards repaying the TSP loan I took for a downpayment. I'm a government attorney (GS-14), and DH is an Audit Supervisor at a large non-profit. We have one DD, and have run into infertility issues trying for a second. We are both 30.

Take home is $8320, after benefits & retirement. I contribute 6%, and he puts in 5%. I carry all the benefits.

Mortgage & HOA- $2700

Childcare- Grandma babysits during the day-$1100

Law school loans- $1100 (I just qualified for loan forgiveness program once I had DD, and that's the payment)

Utilities- $300

Car Payment-$500

Credit card- $1100 a month. We got hit with a nasty $10K medical bill last year that we are aggressively trying to pay off by December. Then that extra money will get diverted to savings

Groceries- $600-$700

Eating Out- $400-$600 <--- way too high!!! We commute from pretty far out, so it's hard to have dinners ready.

Pure Barre- $165 I love to workout and this is my me time. I've also gotten job leads networking! I have recently been diagnosed with PCOS, and it's imperative I do more cardio so I won't be renewing. I'm tone, but not improving my cardio levels or losing weight. I bought a brand new Nordic trac off of a friend for $600! So, DH and I will be using that a lot.

Discretionary spending-$250 estimated for diapers, wipes, hair, clothing, odd need for shoes, gifts, etc...

529- $25 a month

And there's honestly probably something I'm not thinking of! Any leftover money we float in our checking account, and usually have at least $500-$1000 in there.

[Anonymous]

Anonymous wrote:175K HHI, DINKs

We average 8500/month after taxes, health insurance (~250/month), retirement contributions (~1700/month), union dues (honestly, don't know my guess is 30-40/month), and the office gym (~35/month)

mortgage: 2300 PITI
student loans: 840
home decor: 750
groceries: 500 (vegetarian, mostly organic and local food, cook most meals at home from scratch, pack lunch)
transportation: 290 (MARC, metro, gas, parking)
utilities: 200 (does not include internet, which is provided by my husband's work, or cable, which we don't pay for beyond netflix/Amazon Prime)
home supplies: 200 (the toilet paper, paper towels, Amazon Prime etc.)
personal care: 200 (Mostly my monthly massage, but also includes makeup and skin care.)
insurance: 150 (life, car)
clothing: 140 (capped at 2500/year)
gym: 130 (yoga studio, LA Fitness)
entertainment: 100 (includes Netflix)
cell phones: 90
cat: 75
dining out: 65

So far this year, our expenditures have averaged 6K/month. The savings go to irregular expenses (medical, gifts, charity, car and home maintenence and travel) as they come up. We make our charitable donations in November. We give large donations ($500+) to local charities that provide essential services to those in need (think Capital Area Food Bank, Legal Aid, etc); smaller donations ($100 or so) to neighborhood charities, arts organizations, and charities our friends run; and nominal donations($10-$50) to our alma maters and friends who ask us for donations.

We begin each year with a meeting on our financial priorities for the upcoming year and develop a monthly budget accordingly. This year, we're prioritizing decorating the home we bought last year. In previous years we've prioritized international travel (spent 6K), saving for a down payment (around 30-35K, as we only put 5% down because we were rushing to buy while we could still afford the neighborhood we wanted to be in), building professional wardrobes after grad school, and saving for furniture (spent 10k) after renting a furnished apartment.

We track our spending pretty closely as that's the only way I've found that we know where our money is going. And it's so easy to spend more money on certain categories (clothing, eating out, groceries, entertainment) than we're okay with. The one area I want to spend less in is groceries - I think we should spend closer to 400, but it's so easy to stock up on pantry items that just sit there. But we do consider healthy food (and gyms and massages) an investment in our health.

Income: 185K until April, then 217K (job switch, 1 promotion)
~18000 gross
DINKS as well

Mortgage/Rent: 2250 Townhouse Rental
Student Loans: 480 DH paid off, mine (I over-pay by 150 extra or more)
Groceries: 700 (Giant & Whole Foods)
Transportation: 320 (tolls + gas, soon moving so tolls will go away)
Utilities: 200ish
Entertainment: 400
Insurance: 190
Cell Phone: 40 (husband, I pay my mine, my mother's, my brother's at 241)
Car Payments: 430
Hair: 140 every 3 months
Travel Fund: 250/month
401k: at 5% for DH and 25% for DW
Pet: 80

Things changing: moving away from Tolls, going to join Costco, swap Whole Foods for Wegmans :') Trying to save more for travel and experiences

[Anonymous]

We are a family of four with two teenage boys and I am struck by the lowish figures reported for groceries and eating out.

Our HHI is around 170K and based on records from Mint, which I use to track all expenses, over the past 6 months we averaged $950/month on groceries (includes all household supplies) and $720/month on eating out in all forms (includes carry out, fast food, etc.)

We tend to get carry out or eat out at inexpensive, ethnic restaurants on Fri, Sat, and Sun nights. (Weekday lunches tend to be made at home.)

I guess most people are much more disciplined about cooking and eating in?

[Anonymous]

Looks pretty close to mine. Our childcare is $1500/month but we pay $900/month for health insurance.

[Anonymous]

No one has accounted for the summer months when thousands are spent on summer camps.

[Anonymous]

Anonymous wrote:No one has accounted for the summer months when thousands are spent on summer camps.

Who says thousands in summer camps are necessary?

[Anonymous]

Anonymous wrote:We have a HHI between $150k and $180K depending on the annual bonus. Our budget is based on the $150k.

We donate 5%
We save 10% off the top and whatever is left (5-10% more).

Our Mortgage is low at $900 per month, but we pre-pay $700 and pay our taxes twice a year which equates to ~$700 per month. $2,250 total.

We spend around $1200 per month on food (groceries and eating out).
We spend around $500 per month on therapies for children, insurance covers some too. It used to be more, but we have graduated from a few.
Utilities are around $500 per month (water, sewer, electricity, gas, phone....)
Cars: gas and maintenance is around $300 per month and growing as our cars are aging. We may be adding a new car soon. I expect this to grow to $500 per month soon.

We have ~$1.5 million in 401ks/IRAs which will help supplement the pension
We have ~$250k in college savings (DCs are teens)
We have $70k in cash reserves

Wow. I am seriously impressed.