We make $260k combined….why do I feel like we have no money?
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Anonymous
Utilities seem high. We cut the cord and I now have internet only for 39.99 (FIOS). Our children are young and we are not gamers, etc so we don't need the extra bandwidth at this point and this works for us. It's fine for streaming Netflix(which is, for now, not our account so we don't pay for it although they have been saying that they are going to crack down on pw sharing...). For phone, take a look at mint mobile - it is a T-Mobile bandwidth re-seller and you can get unlimited talk/text and 4 gig data for 15/month. Again, not a gamer/streamer so this works for me - they have more expensive plans w/ more bandwidth too. If you've had your auto insurance for more than 3-5 years, it's worth shopping around - I just did this and saved $200/year - not alot but why pay more if you don't have to? |
Anonymous
These are really high! Can you set the thermostat a couple degrees warmer/cooler depending on the season? Can you shop around for a better Internet package? |
Anonymous
Your internet is very high. Maybe try insulating your house if it's an older house. When we replaced our HVAC and did other upgrades, our utility bills were cut down a lot. |
Anonymous
| How much of a tax refund are you getting this year? If it works better for you to withhold a little less and have more money each month, that might help. If you do better using it as forced savings and getting a lump sum (which if I were you I would split between 529/ABLE accounts and your credit card debt, with a small amount for something fun just to give yourself a break) that is legit too. |
Anonymous
| The childcare is killing you. You’re effectively paying two mortgages. Unfortunately I don’t really see any room for improvement in your budget right now, hang in there until the kids go to school and you’ll feel a lot better. |
Anonymous
Op here. We’re out in the desert and Internet is tricky. We’ve shopped it and it kind of is what it is. DH is fully remote in tech and needs super fast Internet. Our electricity costs are high in part because we don’t have gas so electricity is heating the water. In the summer it’s insane but it’s very hot here. In winter it’s not quite so bad. We don’t use a lot of heat but we do use a lot of AC. |
Anonymous
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I'd say you bought too much house. Too bad interest rates are too high now.
Guess you'll have to sell a kid. |
Anonymous
Op here. We did buy too much house, it’s true  but at this point I don’t think moving really helps us.
our house has appreciated a lot since we got it, but it doesn’t really do us any good right now. I looked into getting a home equity loan but I guess they aren’t a thing anymore. Regardless it made more sense to get the 0% CC. |
Anonymous
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OP, your costs and quality of life seem relatively normal. This area is expensive - just to live. YEs, you can sit in the dark, with the heat turned way down, and can eliminate internet entirely; however we know that that is not what life is about.
DMV is expensive to live the tv life that we all imagine in our heads. I would recommend that you adjust to living a good life, enjoying your work, family and home, and worry less about what others are doing and how you "compare to your peers." $260K is a lot of money, if its not enough, then chase the money. If you do, then welcome to the vicious cycle where it will never be enough... |
Anonymous
| I feel like you should be taking home more than 11K with that income. Is it two salaries or one? Are you maxing out your retirement accounts? I make 225 and take home more than 12K a month and max our retirement (though I don't pay for med insurance or flex spending). We didn't max out retirement until our kids were in elementary. |
Anonymous
Op here. It’s 2 incomes after taxes, contributing to retirement (just up to employer match), flex spending accounts (health and childcare), and insurance (life, health, dental, vision). |
Anonymous
| Can you cut down on childcare by staggering your schedules for a few years or have a way your WFH DH could watch the kids for a day or two? Saving $1000 or so a month could be huge. |
Anonymous
How big is your house? Are there any cheaper daycare options? $875 seems like a lot per week - is that for 2 kids? At our max with 3 kids we were paying $1000 per week. Childcare costs are so expensive. And it doesn't always get better. We have 2 in public school and one in daycare and we still probably average close to $30,000 in childcare costs a year when you add in summer camp. |
Anonymous
I don't know about whatever area OP is in, but that's not typically how childcare costs work- you can't just say, not send kids on Fridays and expect a discount. Plus how would the DH care for a special needs child while working? |
Anonymous
They don’t live in this area |