What is you Mortgage Payment and Gross Salary?

[Anonymous]

210K single income (i SAH)
$3500 (30 yr fixed) mortgage including all taxes/insurance on purchase price of 1million last yr.
no other debt.
preschool 1600/month for 2 kids
currently maxing out one 401K.
don't currently save specifically for college.
Hoping to save more aggressively when I go back to work this fall. likely salary 90K-100Kish (in healthcare so job market is steady).

[Anonymous]

Mortgage = 0
Car Payments = 0
Credit card debt = 0
Gross Income > $200K
Daycare = $1,400 mo.
Retirement = Max 25% x Salary
Roth IRA = $10K both
Savings for next car = $500 mo.
Savings for next house = $1,000 mo.

[Anonymous]

Why is mort 0? (Previous poster question). If you have a home that is paid for, why move?

[Anonymous]

Anonymous wrote:315K gross income
5900 mortgage payment (all in)
1300 daycare
200 housekeeper
cars and student loans paid off
maxing out 401Ks
no other debt

Putting 500 monthly into 529 plans (one kid)

[Anonymous]

Anonymous wrote:210K single income (i SAH)
$3500 (30 yr fixed) mortgage including all taxes/insurance on purchase price of 1million last yr.
no other debt.
preschool 1600/month for 2 kids
currently maxing out one 401K.
don't currently save specifically for college.
Hoping to save more aggressively when I go back to work this fall. likely salary 90K-100Kish (in healthcare so job market is steady).

if you don't mind my asking, what is your job?

[Anonymous]

- Average $260k (combined), this fluctuates due to DH yearly bonuses gradually being less due to market; but my salary is gradually increasing.
- 3,500 mortgage (15 yr fixed, 9 yrs left) smartest move we've made
- 2,000 (PT Nanny for 2 DC + PT preschool, used to be - 2,600 month for FT Nanny, but cut back to part-time Nanny)
- 850 per month for private high school for eldest DC
- 200 house cleaning (every other week)
- 400 mth car insurance (putting our eldest on our car insurance doubled our insurance + we have 3 expensive cars)
- No car payments or any debts (pay off our credits cards monthly)
- don't currently save for college (should, but don't)
- max out on my 401k (DH doesn't have one though)
- I put in both FSA and HSA fund

We're tax ignorant, and since our normal tax guy (legitimate) moved and we switched tax guys, for past 3 years doing taxes have owed additional 10k each year in taxes (is this normal?) We both have employers that takes out our taxes, and besides us, don't claim additional dependents on our paychecks. Plus, recently within past 3 years have had two more kids (we have 3 DCs total). Our income has not drastically gone up, so don't why we're suddenly owing so much every tax season. I'm thinking we might be getting screwed somehow with this tax guy! Let me know if this seems right or not. If not, if anyone can recommend a good tax guy in the Fairfax or Loudoun County area

BTW - I have to say, kids do make a HUGE difference in your finances. Prior to having the additional 2 DCs a few years ago, 'budget' was not in our vocabulary. We never had to worry about money. Now, with the childcare and school expense + activities, additional food, clothes, etc - we find it very difficult to put money in savings each month. We use to be able to save up to 80K a year, but not anymore. We're lucky if we can save 20k a year, and now 1/2 that goes to taxes in April(:

[Anonymous]

Anonymous wrote:

Anonymous wrote:210K single income (i SAH)
$3500 (30 yr fixed) mortgage including all taxes/insurance on purchase price of 1million last yr.
no other debt.
preschool 1600/month for 2 kids
currently maxing out one 401K.
don't currently save specifically for college.
Hoping to save more aggressively when I go back to work this fall. likely salary 90K-100Kish (in healthcare so job market is steady).

if you don't mind my asking, what is your job?

Please, I need to ask what type of interest rate you got on your 30 fixed mortgage loan. That seems to be a very small mortgage payment for a 1million house (unless you put a lot down).

[Anonymous]

Anonymous wrote:- Average $260k (combined), this fluctuates due to DH yearly bonuses gradually being less due to market; but my salary is gradually increasing.
- 3,500 mortgage (15 yr fixed, 9 yrs left) smartest move we've made
- 2,000 (PT Nanny for 2 DC + PT preschool, used to be - 2,600 month for FT Nanny, but cut back to part-time Nanny)
- 850 per month for private high school for eldest DC
- 200 house cleaning (every other week)
- 350 mth car insurance+taxes (putting our eldest on our car insurance doubled our insurance + we have 3 expensive cars)
- No car payments or any debts (pay off our credits cards monthly)
- don't currently save for college (should, but don't)
- max out on my 401k (DH doesn't have one though)
- I put in both FSA and HSA fund

We're tax ignorant, and since our normal tax guy (legitimate) moved and we switched tax guys, for past 3 years doing taxes have owed additional 10k each year in taxes (is this normal?) We both have employers that takes out our taxes, and besides us, don't claim additional dependents on our paychecks. Plus, recently within past 3 years have had two more kids (we have 3 DCs total). Our income has not drastically gone up, so don't why we're suddenly owing so much every tax season. I'm thinking we might be getting screwed somehow with this tax guy! Let me know if this seems right or not. If not, if anyone can recommend a good tax guy in the Fairfax or Loudoun County area

BTW - I have to say, kids do make a HUGE difference in your finances. Prior to having the additional 2 DCs a few years ago, 'budget' was not in our vocabulary. We never had to worry about money. Now, with the childcare and school expense + activities, additional food, clothes, etc - we find it very difficult to put money in savings each month. We use to be able to save up to 80K a year, but not anymore. We're lucky if we can save 20k a year, and now 1/2 that goes to taxes in April(:

[Anonymous]

$250 K income

$4600 mortgage, but about $1000 back from basement apartment rental (after taxes)
$2700 private school expenses
$700 into college savings a month

[Anonymous]

holy crud. we just hired a nanny last week, and had no idea what to pay her. we obviously are paying her too much, based on these responses.

[Anonymous]

Anonymous wrote:- Average $260k (combined), this fluctuates due to DH yearly bonuses gradually being less due to market; but my salary is gradually increasing.
- 3,500 mortgage (15 yr fixed, 9 yrs left) smartest move we've made
- 2,000 (PT Nanny for 2 DC + PT preschool, used to be - 2,600 month for FT Nanny, but cut back to part-time Nanny)
- 850 per month for private high school for eldest DC
- 200 house cleaning (every other week)
- 400 mth car insurance (putting our eldest on our car insurance doubled our insurance + we have 3 expensive cars)
- No car payments or any debts (pay off our credits cards monthly)
- don't currently save for college (should, but don't)
- max out on my 401k (DH doesn't have one though)
- I put in both FSA and HSA fund

We're tax ignorant, and since our normal tax guy (legitimate) moved and we switched tax guys, for past 3 years doing taxes have owed additional 10k each year in taxes (is this normal?) We both have employers that takes out our taxes, and besides us, don't claim additional dependents on our paychecks. Plus, recently within past 3 years have had two more kids (we have 3 DCs total). Our income has not drastically gone up, so don't why we're suddenly owing so much every tax season. I'm thinking we might be getting screwed somehow with this tax guy! Let me know if this seems right or not. If not, if anyone can recommend a good tax guy in the Fairfax or Loudoun County area

BTW - I have to say, kids do make a HUGE difference in your finances. Prior to having the additional 2 DCs a few years ago, 'budget' was not in our vocabulary. We never had to worry about money. Now, with the childcare and school expense + activities, additional food, clothes, etc - we find it very difficult to put money in savings each month. We use to be able to save up to 80K a year, but not anymore. We're lucky if we can save 20k a year, and now 1/2 that goes to taxes in April(:

Why three expensive cars if you're having difficulty saving?

[Anonymous]

85K HHI--both full time & one has part-time side gig
1100 mortgage
585 car payments (2 cars)
1000 childcare
250 condo fee
250 student loans
100 credit cards

the rest goes to utilities, co-pays, cell phones, household expenses, cable/internet...

We are lucky to save $200 a month.

DH and I are both 26 with 2 kids and both in school. I hope it gets better soon!

[Anonymous]

Anonymous wrote:
Anonymous wrote:
210K single income (i SAH)
$3500 (30 yr fixed) mortgage including all taxes/insurance on purchase price of 1million last yr.
no other debt.
preschool 1600/month for 2 kids
currently maxing out one 401K.
don't currently save specifically for college.
Hoping to save more aggressively when I go back to work this fall. likely salary 90K-100Kish (in healthcare so job market is steady).


if you don't mind my asking, what is your job?


Please, I need to ask what type of interest rate you got on your 30 fixed mortgage loan. That seems to be a very small mortgage payment for a 1million house (unless you put a lot down).

yes, we put a lot down--- 450K+, and our rate is under 4.8%. We lived incredibly for a number of years and were able to save a good deal of money for a down payment. Now with kids, etc. we'll never approach this level of savings again in this lifetime (unless our salaries go up dramatically!)

[Anonymous]

prev poster here
post should have read "lived incredibly simply" (left out the simply)

[Anonymous]

250 K - annual income
3100 K - mortgage
7 year old car - paid off
13 year old car - paid off
new suv - still owe about 15K