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[quote=Anonymous][quote=Anonymous]The other piece is that if one of you loses your job, your tax situation changes significantly and so your decrease in take home pay would not be quite as dramatic as the loss of the entire income. Are you saving for retirement before the net income? If so, that's another place you could "find" money in the event of a job loss.

I'm pretty risk averse and I think that your budget looks fine, especially if you have a $50k bonus that's not shown in your numbers. Sock that away in college or emergency savings.[/quote]

I agree with this - your budget looks like ours - almost down to the penny. And we are comfortable and we weathered a significant decrease in income when one of our jobs changed.  Make sure you have 6-12 months emergency fund in case something catastrophic happens so that you have time to either look for another job, or sell the house.  Make sure you have cushion - which you do, and you'll be fine.  As childcare goes down, your groceries will go up - those kids will start eating more.  But your salaries should go up a bit at a time as well.

Also, make sure that you are both in jobs that are stable - not up and out, or dying.  If that's the case, then plan for one salary or a significant reduction in salary later.[/quote]

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