How can we save with this breakdown
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Anonymous
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Take home $6500 a month on $142k salary after maxing out retirement and doing FSA - 1 income, 1 kid. Age 50.
18 umbrella policy 65 insurance - 2 cars 75 home insurance 667 Fund 529 10 hoa community 53 verizon internet 100 donation 500 groceries 225 classes, therapy (swimming needed as therapy for child etc) 150 meds, vitamins, protein powders etc. for all 100 household (toilet paper, detergent, dish soap, soap, toothpaste, shampoo/conditioner, cream etc.) 200 medical including labs/co-pays/procedures/therapy/dental - most likely more, spouse has chronic health problems. 300 lawn exterior/interior repairs maintenance 800-1000 travel, vacation, clothes, haircuts, dining, entertainment, gifts 150 gas 150 2 oil changes per car 80 2 cell phones 8 safe deposit box 5 video cloud storage 2000 Private school 200 electricity - old home 80 water/sewer 25 trash 40 mowing averaged out 500 real estate property tax 65 car property tax We have nothing left over 
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Anonymous
| Stop with the 529 contributions. You can always put some do the $2k you pay for private school towards helping your child with college. You should shore up your savings first. |
Anonymous
| I agree stop with the 529. Stop with the donation. And don't know what the circumstances are - but is private really necessary. You could be saving $24k a year! But then again I don't see a PI - house all paid off? |
Anonymous
| I hate DC - can't wait to get out - similar salary for the 2 of us together and 2 kids but we are in in our late 30s |
Anonymous
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Cut private school (you can't afford it).
Eliminate $100 donation (you can't afford it). Mow your own lawn, and cut back landscaping. Try to sell things rather than toss things. Try to line up a side hustle. |
Anonymous
| OP, you will not find a single person support private. Well at least 99% won't. Even with HHI over $300k! All else looks good to me. |
Anonymous
I think with that low a budget for clothes, travel and all I don't think that's their problem. Also it's easy for people to say 'side hustle'. Most people don't have the time or any clue what to do. And btw that uber driving is not as profitable as it is made out to sound. OP stop the private. |
Anonymous
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Do your own lawn care/mowing, if you or your spouse can. If that's not possible because of his health issues, then of course keep that expense.
Obviously, cut down on the vacations/gifts/clothes/haircuts, etc. Ask yourself what, out of that category, you truly NEED. Make a game out of it with your family between now and Christmas, to see how much you can save, then do something fun together to celebrate. Do you really need the vitamins/protein powders? Unless they are literally prescribed by your doctor to help with health issues, cut down on that stuff. Streamline it down to one multivitamin per family member. See if you can go generic/cheaper in the toiletries category. Look into coupons and such; there are always coupons online for that type of item. |
Anonymous
| What’s the deal with the private school? Really necessary or just a nice to have thing? |
Anonymous
wow |
Anonymous
Agree with all of this, except the lawn mowing service which saves our sanity. Is there room to trim your travel budget? |
Anonymous
| Can the unemployed spouse pick up some part time work? |
Anonymous
| You're over here with 800-1,000 on travel/entertainment/gifts/clothes PER MONTH asking how you can find money in your budget? |
Anonymous
| Do you not have a mortgage or did I miss it in there? |
Anonymous
| Why do you need two oil changes per car every month for $150? |