Family budget if your income is around $180-200K
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Anonymous
Wow--how do you have $85K in a liquid emergency fund on that salary? That's impressive. |
Anonymous
We've got about 65k on gross 170k. We have been aggressively saving. We'll dip into it but it is doable |
Anonymous
Not PP, but we saved $80K for a downpayment in the years I was making $65K and DH was in school. Those were lean years, now HHI is $185K, and it's harder to save (childcare and mortgage are a lot more than rent!). |
Anonymous
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We're a bit below $180K - around $150K. One working parent. One SAHM 3 children
$8000 take home (after taxes, 401k, health ins, flex plan) $2800 Mortgage $600 Groceries (many vegetarian meals from scratch) $525 Utilities (gas, elec. water, phone, internet) $450 Gasoline $125 Car insurance $250 Kids activities $75 Pool/Tennis club $350 Synagogue $200 Eating Out/Movies $200 Clothes (lots of hand me down, thrift stores) $150 Gifts (that includes gifts within the family) $100 House Maintenance/Decor $100 Car Maintenance $835 Roth IRA $500 College Fund $250 Travel $500 Miscellaneous/Charity |
Anonymous
| Ditch the synanogue. Wasting money. |
Anonymous
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Anonymous
| I am assuming it is in the 401K on the first line. |
Anonymous
I'd really love to - only because it's so darn expensive, but I want my kids to go to religious school. |
Anonymous
No monthly savings at this point other than reirement (401k and IRA) and college. But we did put away a lot before I became a SAHM, so we have a good amount saved up. for emergencies or if something else comes up - like we will need a new car soon, for example. And I plan to go back to work soon. |
Anonymous
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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 |
Anonymous
I used to make a lot more when I was in biglaw, but now that I think about it, the majority of that 85K was accrued after I left biglaw. We just really prioritize savings....no car notes, no credit card debt, no vacations, no new furniture, no house renos. Which sounds depressing but it was a godsend when biglaw laid me off. |
Anonymous
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Anonymous
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Why no vacation?!? Vacation does not need to be expensive. We go together with my parents or in-laws, and it is really not that much going to NC or SC. It is really about recharging.
No renovation? That is fine. We only spend money to make sure things do not break down, i.e. replacing a leaky roof.
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Anonymous
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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.
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Anonymous
Not everyone has parents who live in vacation places (or for that matter, who can be visited at all). |