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Reply to "Best tips for reducing expenses after salary cut?"
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[quote=Anonymous][quote=Anonymous]I just accepted my dream job. Unfortunately, it is a steep salary cut from my current job. Here are our basic numbers after I start the new job (we have a one-yr old son): HHI:300k/yr Largest Expenses Nanny:4k/month including taxes and bonus Mortgage:4k/month Groceries: 1300/month The rest of the expenses are pretty standard. No student loans or other debt. Any tips??[/quote] At 300K a year you can still afford all of the above. Assume after taxes, 401K, insurance etc you take home 50% of your income - that comes to $12.5K a month. 9.5K goes to childcare, mortgage, groceries - you sillt have 3K a month. If you move to a daycare center or nanny share you will be able to have 5K a month. What is the issue?[/quote]
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