Reply to What's the minimum level of monthly income minus mortgage you'd feel comfortable with?

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[quote=Anonymous]We're in our late 20s, contemplating how many kids to have, and the economics of having a kid is a major consideration. Our current plan is DH becomes full time stay-at-home, I keep working. So, not spending any money on daycare or anything like that. We're inbound for Deal/Wilson (so no money spent on private school either), with a 3k-a-month mortgage.

My salary will be somewhere between $120k and $150k depending on which job offer I take. The $120k job sounds a lot more fun and interesting; the $150k job pays better obviously. either job probably won't see much in the way of salary changes for many years to come.

What do you all consider to be a doable level of income-minus-mortgage for one kid? Two kids? However many kids you have?

(One small detail that's possibly relevant to our scenario but shouldn't factor into you telling me your personal feelings about it: the kids would have dual Australian citizenship plus family there, and since Sydney and Melbourne both have world class universities we'll probably be sending them there for college in order to save a metric fuckton of money over US tuition. That will probably shift our savings goals slightly.)

Other details that are possibly relevant: He's not planning on ever returning to work -- he never found the working quite as fulfilling as I did, so he's going to focus fully on his hobbies aside from the obvious SAH parent/house responsibilities.

We've previously been at $150k combined income when working while paying $3k in rent and it felt super easy -- we were taking 4 or 5 international trips a year on that salary and saving didn't feel hard. Though we had some job perks at the time (triple matching of retirement contributions from work, etc) that certainly helped. Presumably expenses with a kid will be different.

We're also not sure how preschool costs would work -- we have Pre-K 3 and 4 provided by the local public elementary school, so does that mean we're in the clear on needing to pay anything additional?
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