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

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It was interesting to see what people did with $375K. Now what about us "poor" folks?

$9500 monthly take home pay (after retirement/health care)
Retirement is 5% and health care is $300 month

$2100 mortgage $3000
$3500 childcare/tuition $0
$815 student loans $400
$1000 food (includes dining out and some household goods) $1300-- farmers mkt costs $$ otherwise would be less
$500 utilities/cable/internet/cell phones $0 for cell teenage kid only one at school w/o phone,, ours are company paid,, utils $400
$500 shopping/activities/Target $200
$300 housekeeper (money well spent!!) $300 same ha ha would nver cut it out ours is every week for $75
$250 gas/insurance/parking $250
$100 charity $0
$50 medical expenses (prescriptions/co-pays)$10
$100 life insurance $0
$30 gym $0 have gym in home

credit cards $1000
car payment $212 insurance $90
spending $500



Anyone else?

I seriously hope you meant "poor" in quotes because otherwise this is really offensive.

You did see that it is fact in quotes, right?

[Anonymous]

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

[Anonymous]

I think your main charity should be your retirement account. $500 month invested in 20 years will be very useful.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think you are all amazing with your money. I don't know how you do it. The little things add up to so much; school supplies, parts to repair this and that, groceries, take-out etc. Your budgets seem so tight and organized.

If you don't track, how do you know if you are living within or over budget? I budget miscellaneous which includes school supplies and the random parts purchase.

because i am not borrowing money? (not PP)

[Anonymous]

$3600 mortgage on $10k net is really stretching. We're at $2500 and sometimes it feels tight.

[Anonymous]

Anonymous wrote:$3600 mortgage on $10k net is really stretching. We're at $2500 and sometimes it feels tight.

I guess it depends who you are, the PP is saving $3k a month so it seems to work.

[Anonymous]

Anonymous wrote: I think your main charity should be your retirement account. $500 month invested in 20 years will be very useful.

Nice

[Anonymous]

Anonymous wrote:Right, "poor."

Do you not understand the use of quotation marks in the OP?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It was interesting to see what people did with $375K. Now what about us "poor" folks?

$9500 monthly take home pay (after retirement/health care)
Retirement is 5% and health care is $300 month

$2100 mortgage
$3500 childcare/tuition
$815 student loans
$1000 food (includes dining out and some household goods)
$500 utilities/cable/internet/cell phones
$500 shopping/activities/Target
$300 housekeeper (money well spent!!)
$250 gas/insurance/parking
$100 charity
$50 medical expenses (prescriptions/co-pays)
$100 life insurance
$30 gym

Anyone else?

Savings other than for retirement?

Unfortunately not. We put bonuses and tax refunds into savings. We also try to save on the months where we dont use our entire budget for food or shopping, but its rare.

And yes "poor" was meant sarcastically by DCUM standards. I do not think we are poor or struggling, just broke

Um, $3500 on private school, but you're not saving for college?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It was interesting to see what people did with $375K. Now what about us "poor" folks?

$9500 monthly take home pay (after retirement/health care)
Retirement is 5% and health care is $300 month

$2100 mortgage
$3500 childcare/tuition
$815 student loans
$1000 food (includes dining out and some household goods)
$500 utilities/cable/internet/cell phones
$500 shopping/activities/Target
$300 housekeeper (money well spent!!)
$250 gas/insurance/parking
$100 charity
$50 medical expenses (prescriptions/co-pays)
$100 life insurance
$30 gym

Anyone else?

I seriously hope you meant "poor" in quotes because otherwise this is really offensive.

ARE YOU STUPID? Because last I looked "poor" WAS in quotes.

I mean, HOW STUPID ARE YOU PEOPLE?

- Not the OP and someone who makes less than the OP and saves a lot MORE than OP, and is definitely not poor but still thinks you are STUPID.

[Anonymous]

Anonymous wrote:I think you are all amazing with your money. I don't know how you do it. The little things add up to so much; school supplies, parts to repair this and that, groceries, take-out etc. Your budgets seem so tight and organized.

That's because they're not real, PP.

[Anonymous]

Anonymous wrote:$3600 mortgage on $10k net is really stretching. We're at $2500 and sometimes it feels tight.

We have been doing it for 8 years. Started at $120k. Half the mortgage is a 20 year loan. Great house, great neighborhood, great schools. We are actually planning a renovation that will bump us up to $4300/month (we won't have aftercare though). H is getting a raise that will cover the remaining $300.

Listen, we don't have student loans, car loans, or daycare. Those take up a lot of people's budget. Our mortgage was much smaller when kids were in daycare.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$3600 mortgage on $10k net is really stretching. We're at $2500 and sometimes it feels tight.

We have been doing it for 8 years. Started at $120k. Half the mortgage is a 20 year loan. Great house, great neighborhood, great schools. We are actually planning a renovation that will bump us up to $4300/month (we won't have aftercare though). H is getting a raise that will cover the remaining $300.

Listen, we don't have student loans, car loans, or daycare. Those take up a lot of people's budget. Our mortgage was much smaller when kids were in daycare.

We have a $3700 mortgage on about $10k take home. But we love our house -- we don't take big vacations but enjoy having friends and family over. We have about $300k in equity, no student loan debt (paid off $60k before purchasing house), don't eat out a lot, kids go to great public schools...for us our home is where we want to spend our money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:HHI: $197000

Take home: $8700/month (after maxing 2 TSPs, daycare spending account, health and dental insurance)

Mortgage: $2408 (includes home owner's insurance and escrow for property tax)
Daycare: $1452
Charity: $500
Student loans: $320
Utilities (cell phones/cable/internet/water/electricity): $460
Life insurance: $93
529: $400
Car (parking/gas/insurance/repairs): $300
Groceries and household products: $450
Dining out: $450
Medical expenses: $50
Wine: $300
Savings: $1200
Misc spending: $300

The $5k we get back when I file the daycare spending account forms at the end of the year goes straight into savings as well. Good thing, since our HVAC gave out this year, the stoop on our house rotted out, and we owed taxes, which pretty much wiped out our normal outside of retirement/529 savings for the year already...

I love that you have a line item (a big one) for wine. Can we be friends?

$300 for wine, but only $450 a month for groceries and household products?

[Anonymous]

Anonymous wrote:$3600 mortgage on $10k net is really stretching. We're at $2500 and sometimes it feels tight.

This seems par for the course in DC unless you're single or don't have kids yet.