Reply to I truly cannot wrap my head around our HHI jump from $150k to $260k

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Reply to "I truly cannot wrap my head around our HHI jump from $150k to $260k"

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[quote=Anonymous]I feel stupid, but my brain does not make sense of the math. We will absolutely NOT fall victim to lifestyle creep. We are already in our forever home. We both grew up LMC and understand how fortunate we are to have already started 529s, Roth IRAs on top of 401k etc. That is where our money will go- into the future.

That being said, we would like to make one purchase to celebrate- a vacation, boat (used), or (used) car for DH as his has 356,000 miles. I truly cannot comprehend what we can afford.

We have a 5yo and a 1yo. We are 31/32yo. Here's an overview of our finances:

HHI 260K
Bought our house 5 years ago (tomorrow!) for $325,000 by putting down $45k with a 30 year mortgage. We just got out of PMI.
$2400/mon mortgage, taxes, insurance
$1400/mon daycare (older DC will be in public next year)
$4000 left on my car (will pay off eventually we have 0% interest)
No student loans or other debt

We have been putting $500/mon into 529s, maxing 401Ks, I have a Roth IRA on top of that, and we have $40,000 emergency fund.

Can we make a $10k vacation, $15k boat, or $25k vehicle purchase without worrying? Not planning on changing anything else except adding more monthly to 529s.

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